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Compare & Find The Best Whole Life Insurance in Singapore

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

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What is Whole Life Insurance?

Whole life insurance is a type of permanent life insurance policy designed to provide coverage for your entire lifetime, as long as premiums are paid. Unlike term life insurance, which covers you for a specified term, whole life insurance doesn’t expire. It’s a comprehensive financial product that combines life coverage with an investment component known as the cash value.

Life Insurance

Whole life insurance offers a guaranteed death benefit, providing lifelong financial protection for your beneficiaries should you pass on.

Cash Value

The cash value in a whole life insurance policy grows over time, offering a pool of funds that you can use in your retirement years.

Limited Pay

The limited pay option allows you to pay off your premiums over a shorter period, securing lifelong coverage while freeing you from hefty payment obligations in your later years.

Pros of Whole Life Insurance


Lifelong Coverage

Whole life insurance ensures that you are covered for your entire life, providing a constant safety net for your loved ones without worrying about expiry dates.


Guaranteed Cash Value

The policy includes an investment component that grows at a guaranteed rate, offering a form of savings that can be used for you to retire comfortably.


Fixed Premiums

Premiums are set at the inception of the policy and do not increase over time, making it easier to plan your finances without the concern of rising costs.

Cons of Whole Life Insurance


Higher Premiums

Whole life insurance typically comes with higher premiums, making it a more substantial financial commitment that may not be feasible for everyone.



The combination of insurance and investment components can make whole life policies more complex and harder to understand, requiring thorough research.


Lower Returns

The cash value component grows at a conservative rate, which might be lower than returns from other investment options, potentially leading to missed opportunities.

Who should get whole life insurance?

The Security Seeker

Individuals who prioritise stability and security above all else, valuing the peace of mind that comes from knowing their loved ones will be financially protected, no matter what the future holds. They find comfort in the guaranteed death benefit and lifelong coverage.

The Prudent Saver

Those with a natural inclination towards saving and financial prudence, who see the value in the combination of protection with a savings element. They are attracted to the cash value component as a disciplined savings tool that complements their financial strategy.

The Legacy Builder

People who are deeply motivated by the desire to leave a lasting financial legacy for their family or beneficiaries. They are drawn to whole life insurance for its ability to provide a guaranteed sum to their loved ones and see it as a cornerstone in their estate planning efforts.

Best Whole Life Insurance Plans in Singapore


AIA Guaranteed Protect Plus III

The AIA Guaranteed Protect Plus (III) stands out for its flexibility in customisation, allowing policyholders to multiply their sum assured up to 5 times, enhance critical illness coverage with optional riders, and benefit from both guaranteed and non-guaranteed bonuses as a participating policy. This policy not only offers basic protection against death and total permanent disability but also caters to parents with its superior juvenile benefits coverage, making it a compelling choice for families looking to secure their financial future.

NTUC Income Star Secure Pro

The NTUC Income Star Secure Pro offers unparalleled financial protection with coverage for up to 152 critical illness conditions, the highest in the market, making it potentially the most comprehensive and cost-effective option available. It stands out for its flexibility, allowing policyholders to tailor their coverage and premium payments to their comfort level, while also providing peace of mind through various premium waiver options in unforeseen scenarios such as retrenchment or the passing of a loved one, ensuring you and your family are well-protected financially during difficult times.

Manulife LifeReady Plus II

The Manulife LifeReady Plus (II) stands out as a versatile whole life insurance policy that not only provides essential protection against death, terminal illness, and total permanent disability but also offers the unique opportunity to supplement retirement income, thanks to its financial flexibility option. With competitive premiums, comprehensive critical illness coverage for up to 135 conditions, and additional benefits like retrenchment protection and potential health-based premium discounts, it's designed for those seeking a blend of security and financial planning for the future.

Singlife Whole Life

The Singlife Whole Life is a comprehensive policy that offers a blend of flexibility, protection, and potential for wealth accumulation. It provides basic protection against death and terminal illnesses, with the option to enhance coverage for total and permanent disability and critical illness through various optional riders. Some notable features include flexible premium payment terms, comprehensive protection with up to 400% additional coverage for selected benefits, and the ability to increase coverage during significant life events without medical underwriting. Additionally, the policy offers an income payout option starting from age 65, which can supplement retirement income.
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Prudential PRUActive Life III

The Prudential PRUActive Life III offers up to 5 times the sum assured, providing comprehensive protection against death, terminal illness, and total and permanent disability. It stands out for its flexibility in premium payment durations, ranging from 5 to 35 years, and includes unique features like the ability to defer premium payments for up to 2 years without interest, a multiplier benefit that boosts coverage up to 5 times until age 80, and premium and family waiver benefits for added financial relief during difficult times.

HSBC Life’s Life Treasure II

The HSBC Life Treasure (II) offers unparalleled flexibility and comprehensive coverage, including up to 5 times the sum assured for critical illness, death, and total permanent disability, making it a standout choice for those seeking robust financial protection and potential wealth accumulation. With its competitive premiums and high surrender value, it's designed for individuals prioritising long-term security and investment growth.
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Great Eastern Complete Flexi Living Protect 2

The GREAT Complete Flexi Living Protect 2 is a comprehensive life insurance policy that provides protection against death, total and permanent disability (TPD), accidental TPD, terminal illness, and critical illness. It stands out for its unique benefits, including special, juvenile, senior, and benign tumour benefits, alongside a multiplier benefit that extends protection up to age 100, distinguishing it from many competitors that cap multiplier benefits at a lower age.

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 whole 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 have financial security in the event of your untimely death. It can help cover funeral expenses, outstanding debts, and provide ongoing income support for your dependents. Life insurance is a crucial part of financial planning that offers peace of mind, knowing that your family will be taken care of financially.


How much life insurance do I need?

Determining the amount of life insurance you need involves assessing your current financial obligations, future goals, and the level of financial support your dependents will require. Consider factors such as your income, debts, living expenses, and future obligations like college tuition. A general guideline is to have coverage that is 10 times your annual income, but individual circumstances may require more detailed calculations.

Should I choose whole life insurance or term life insurance?

The choice between whole life and term life insurance depends on your personal financial goals, need for coverage, and investment preferences. Term life insurance provides coverage for a specified period and is often less expensive, making it suitable for temporary coverage needs. Whole life insurance offers lifelong coverage and includes a cash value component that can serve as an investment or savings tool. Consider your long-term financial objectives and whether you’re looking for a straightforward insurance product or one that also serves as a financial asset.

Can I cash out a whole life insurance policy?

Yes, you can cash out a whole life insurance policy. Over time, these policies accumulate a cash value that policyholders can borrow against or withdraw. This feature provides financial flexibility, allowing you to access funds for emergencies, retirement, or other needs. However, withdrawing or borrowing against the cash value can reduce the death benefit.

How many years do you have to pay for a whole life insurance policy?

Premium payments for a whole life insurance policy are typically required for the duration of the policyholder’s life. However, many policies in Singapore offer a “limited pay” option, where premiums are paid over a specified period, such as 10, 20, or 30 years, after which no further premiums are due. The choice depends on your financial situation and how you prefer to manage premium payments.

How much does $500,000 whole life insurance cost?

The cost of a $500,000 whole life insurance policy depends on various factors, including the policyholder’s age, health status, lifestyle, and the policy’s terms and features. Younger, healthier individuals generally receive lower premium rates. Additionally, the policy’s cost is influenced by the chosen payment plan (e.g., standard lifetime payments vs. limited pay options) and any added riders or benefits. It’s important to get personalised quotes from insurance providers to accurately assess the cost for your specific situation.

Find The Perfect Whole Life Insurance Policy Today!