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Insurance

Comparing Whole Life Insurance 2019

Updated 23 January 2020

  • Phuan Wei Ning
  • |
  • Published on 14 Aug 2019

Star Assure
LifeReady Plus
Ready LifeIncome
TM Legacy Lifeflex
Insurer
NTUC Income
Manulife
Manulife
Tokio Marine
Coverage
Death, Terminal Illness (TI) and Total Permanent Disability (TPD to age 70)
Death and Terminal Illness (TI)
Death, Terminal Illness (TI), Total Permanent Disability (TPD) up to age 70 age next birthday (ANB)
Premium payment term
5, 10, 15, 20, 25 or 30 years or up to age 64 age last birthday (ALB)
10, 15, 20 or 25 years or up to age 99 age last birthday (ALB)
5 or 10 years
10, 15, 20 or 25 years
Enhanced coverage
Up to 500% coverage before age 70

Up to 200% sum assured on top of death benefit in case of accidental death
Up to 5X coverage before age 70
-
Up to 10X coverage before age 65 ANB
Pay-outs
-
Accumulate cash value while enjoying coverage with the option to convert cash value from policy into annual payouts over 10 years
Receive pay-outs up to age 120 from end of policy year 5 or 10 (dependent on premium payment term)
Receive a lifetime of income (non-guaranteed annual dividends) from age 65
Additional benefits
Option to cash-out policy if you have been paying premiums for at least 2 years or convert policy to a paid-up policy with a reduced sum assured

Retrenchment benefit: Choose not to pay premiums for up to 6 months if retrenched and unable to find employment for 3 continuous months
Health Advantage: Enjoy upfront premium discounts for first 2 policy years and continue to enjoy premium discounts after policy year 2 if you meet health targets

Option to upgrade coverage at 4 life milestones with no medical questions asked (graduation tertiary, marriage, first home, parenthood)

Retrenchment benefit: If you or your spouse is retrenched and remain unemployed for 30 days or more, 6 months of your premiums will be waived while coverage continues
Secondary life insured option: Transfer your plan to your child who can then transfer it to their child

Waiver of future premiums upon TPD

Premium freeze option allows you to stop paying premiums for 1 year
Wellness benefit (only offered with EarlyCare Rider): Receive S$100 every 2 years regardless of any prior claims
Participating plan
Yes
Yes
Yes
Yes

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For smokers: VivoAssure

Smokers and non-smokers will enjoy the same premium rates on their base plan.


For retirement considerations: ReadyLife Income and TM Legacy Lifeflex

Receive lifetime pay-outs to supplement your retirement income.


For guaranteed future insurability: LifeReady Plus

Upgrade your coverage at 4 life milestones with no questions asked.


Available Whole Life Insurance


Whole Life insurance is suitable for:

  • Death coverage
  • Protection against the unexpected

  • Leaving a legacy for your dependents


  • Whole Life insurance is not suitable for:

  • Health coverage


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    Available Products on FSMOne Insurance

    Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment


    from Etiqa Insurance, Manulife, NTUC Income and Tokio Marine Life Insurance


    *Please check with our advisory team if the product you want is available on FSMOne Insurance

    Interested to learn more? Check out these articles:

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