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Compare & Find The Best Term Life Insurance in Singapore

We partner with unbiased financial advisors to help you compare and find the best term life insurance policies.

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What is Term Life Insurance?

Term life insurance is a straightforward policy that provides coverage for a set period, paying out a death benefit to beneficiaries if the insured passes away during this term. It’s favoured for its affordability and simplicity, making it a popular choice for individuals seeking temporary financial protection for their loved ones.

Life Insurance

Secure peace of mind and protect your loved ones' future with term life insurance, ensuring they're financially safeguarded during life's most unpredictable moments.

Specified Period

Embrace the certainty of knowing your family is protected with term life insurance, designed to offer financial security for a specified period when they need it most.

Policy Expiry

Term life insurance provides a unique advantage by expiring after a set period, meaning you're not committed to paying premiums indefinitely, allowing financial flexibility and peace of mind as you age without the burden of ongoing payments.

Pros of Term Life Insurance

01

Cost Effective

Term life insurance is generally more affordable than whole life insurance, making it an accessible option for individuals seeking substantial coverage without a hefty premium cost.

02

Simple

Term life insurance offers clear terms and conditions, making it easier to understand. It provides pure death benefit protection without the complexities of a cash value component.

03

Flexible

Choose the term length that best suits your needs, whether it's to cover a mortgage, education, or other financial obligations. This ensures that coverage is only paid for when it's most needed.

Cons of Term Life Insurance

01

Temporary Coverage

Term life insurance only offers protection for a specified period. If the policyholder outlives the term, the coverage expires without any value, meaning there's no return on the premiums paid.




02

Coverage Limitations

Term life insurance is designed for a specific period and may not fully align with long-term financial planning needs. Once the term ends, obtaining new coverage could be challenging, especially if health issues have arisen, potentially leaving you without protection when it's most needed.

03

No Cash Value Accumulation

Unlike whole life insurance policies, term life insurance does not include a savings component or cash value accumulation. This means you cannot borrow against the policy or receive any financial value other than the death benefit if a claim is made.

Who should get term life insurance?

The Family Protector

Individuals who prioritise the financial security of their loved ones above all else. They seek to ensure that in the event of their untimely passing, their family’s future expenses, such as education and living costs, are covered. Term life insurance offers them a straightforward, cost-effective solution to provide for their family’s needs without the complexity of investment components.

The Budget-Conscious

Those who are meticulous with their finances and prefer not to overcommit to long-term financial obligations. They appreciate the affordability of term life insurance, allowing them to obtain substantial coverage at a lower cost. This personality type values the ability to choose a policy term that matches their specific financial responsibilities, ensuring they’re not paying for coverage longer than necessary.

The Strategic Investor

Individuals who view term life insurance as a temporary safety net, allowing them to focus on other investment opportunities. They might prefer to allocate their financial resources towards investments that potentially offer higher returns, relying on term life insurance for peace of mind during critical periods of financial risk exposure. This approach allows them to balance between immediate protection needs and long-term financial growth.

Best Term Life Insurance Plans in Singapore

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AIA Secure Flexi Term

The AIA Secure Flexi Term offers a blend of affordability and flexibility, allowing policy renewals and adjustments to coverage terms to suit changing life stages. It stands out with unique benefits like the Terminal Cancer Benefit, providing a safety net for those with specific health concerns, alongside the potential for premium discounts through the AIA Vitality wellness program, making it a compelling choice for proactive health management and financial planning.
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NTUC Income TermLife Solitaire

The TermLife Solitaire policy from NTUC Income stands out for its flexibility, offering a wide range of policy terms from 10 to 40 years, or up to age 100, catering to diverse coverage needs. It guarantees premium rates throughout the policy term, providing financial predictability and security. The policy includes renewal options, ensuring continuous protection without the need for medical underwriting at renewal, up to age 75. Additionally, it offers comprehensive coverage against death and terminal illness, ensuring beneficiaries are financially supported in challenging times.
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Manulife ManuProtect (II)

Manulife's ManuProtect Term (II) offers a comprehensive term life insurance solution, catering especially to smokers with its Quit Smoking Incentive (QSI) that allows smokers to pay non-smoker premiums for the first 3 years. This plan stands out for its flexibility, offering guaranteed renewability, conversion options, and a range of policy terms and riders to tailor coverage to individual needs.
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Singlife Elite Term (II)

Singlife Elite Term (II) stands out for its affordability and comprehensive coverage, making it a preferred choice for budget-conscious individuals seeking reliable protection. With options for Total & Permanent Disability and Critical Illness riders, it allows you to customise your plan to suit your unique needs and circumstances. Its flexibility extends to convertible and renewable options, ensuring that your coverage can evolve with your life's changes. This policy represents a smart investment in your family's financial security, offering peace of mind at a cost that won't strain your budget.
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Prudential PRUActive Term

Prudential's PRUActive Term is designed for flexibility, allowing policyholders to adjust coverage as their needs evolve, with options for Death, Total and Permanent Disability (TPD), and Terminal Illness (TI) coverage, alongside various Critical Illness Riders. Despite its adaptability, the plan's higher premium costs compared to competitors and lack of a conversion option may not make it the best choice for those seeking affordability with the intention to convert to a permanent policy in the future.
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HSBC Life Term Protector

The HSBC Life Term Protector offers customisable coverage tailored to individual needs, covering Terminal Illness (TI) and Death, with options for additional riders. It stands out for its renewable term insurance options, unique single premium payment for short-term policies, and an Indexation Option to combat inflation by increasing the sum assured. Additionally, it provides coverage up to age 99, making it a versatile choice for long-term protection.
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Great Eastern GREAT Term

Great Eastern's GREAT Term offers robust protection against death and terminal illness, with the added flexibility of converting your policy into various forms of insurance, such as endowment or whole life policies. Its standout features include comprehensive critical illness coverage through its Living Care and Complete Living Care Riders, covering up to 121 critical illnesses, and the option for either partial or complete conversion, catering to those seeking extensive protection with the adaptability to change coverage as life evolves.

How to apply for a comparison session?

Step 1

Submit a request for a comparison session with Life Insurance Singapore. Based on your request, we will match you with one of our MAS-licensed partners.

Step 2

Our partners will obtain quotations from the respective insurers and help you compare based on price, features, and suitability.​

Step 3

Once you've found the perfect term life insurance policy, feel free to purchase it from a friend, directly from the insurer, or from our partners!

Why do I need life insurance?

Life insurance is essential for ensuring your loved ones’ financial security in your absence. It helps cover living expenses, debts, and future obligations like education costs, providing peace of mind that your family is protected against financial hardships. It’s a critical component of financial planning, offering a safety net that helps maintain your family’s standard of living and secures their future in case of unforeseen events

How much life insurance do I need?

Determining the right amount of life insurance involves assessing your financial situation and goals. A general guideline is to have coverage that’s 10 times your annual income. However, consider debts, future educational expenses, and income replacement needs. Calculating your financial obligations and how much support your dependents will require can guide you to a more precise figure, ensuring adequate coverage for your family’s needs.

Should I choose whole life insurance or term life insurance?

Choosing between whole life and term life insurance depends on your financial objectives and coverage needs. Whole life insurance offers lifelong coverage and accumulates cash value, making it suitable for long-term financial planning and wealth transfer. Term life insurance provides coverage for a specific period, offering a cost-effective solution for temporary insurance needs, such as income replacement during working years. Assess your financial goals, budget, and whether you’re seeking temporary protection or a long-term investment component.

How much is term life insurance in Singapore?

The cost of term life insurance in Singapore varies widely based on factors such as age, health status, lifestyle habits, and the level of coverage desired. Younger, healthier individuals typically enjoy lower premiums, while older individuals or those with health issues may face higher rates. Coverage amount and term length also significantly impact the cost. It’s advisable to compare quotes from different insurers to find a policy that fits your budget while meeting your coverage needs.

What is the best age for term life insurance?

The best age to purchase term life insurance is when you have significant financial responsibilities, such as a mortgage or dependents. Starting early, in your 20s or 30s, can lock in lower premiums and ensure financial protection for your loved ones during critical years. However, the need for term life insurance can arise at any age, depending on life changes such as marriage, parenthood, or taking on significant debt. Assessing your life stage and financial obligations will help determine the right time to buy term life insurance.

Find The Perfect Term Life Insurance Policy Today!