Insurance

Best Term Insurance Singapore

Considering a term plan for coverage? Here are 5 plans to look at. Updated on 26 January 2022.

  • Phuan Wei Ning
  • |
  • Published on 08 Nov 2021


Name of plan
TermLife Plus
ManuProtect Term II
iTERM
Termlife Solitaire
TM Term Assure II
Insurer
FWD Insurance
Manulife
NTUC Income
NTUC Income
Tokio Marine
Entry age
Age 18 to 60 ALB
Age 0 to 70
Up to age 79 ALB
Age 18 to 74 ALB.
Age 21 to 99 ANB
Coverage levels
From $50,000 to $1,500,000
From $75,000 to $20,000,000
From $10,000 to $499,999
From $500,000 to $20,000,000
From $100,000 to $100,000,000
Policy term
Yearly renewable or up to age 70
5 to 40 years, or up to age 65, 75 or 85
5, 10, 15, 20, 25, 30, 35, or up to age 54, 64, or 74 ALB
10, 15, 20, 25, 30, 35, 40 or up to age 54, 64, 74, or 100 ALB
5, 10 or up to age 85
Renewability
Guaranteed renewal up to age 100 for yearly renewable plans.
Guaranteed renewal up to age 85 for policy terms of 5 or 10 years.
Guaranteed renewal with coverage up to a maximum age of 84 ALB.
Guaranteed renewal up to age 100 ALB.
Guaranteed renewal up to age 85 for policy terms of 5 or 10 years.
Convertibility
Not convertible
Yes, option to convert to another regular-premium life insurance plan at same sum assured. Privilege must be exercised before the age of 65.
Not convertible
Not convertible
Yes, option to convert to another regular-premium whole life or endowment insurance plan at same sum assured.
Premium frequency
Monthly, yearly
Monthly, quarterly, half-yearly, yearly
Monthly, quarterly, half-yearly, yearly
Monthly, quarterly, half-yearly, yearly
Monthly, quarterly, half-yearly, yearly
Premium payment method
Regular premium
Regular premium
Regular premium
Regular premium
Regular premium
Payment method
Cash only
Cash only
Cash only
Cash only
Cash only
Base plan covers for
Death
Death and Terminal Illness (TI)
Death, Terminal Illness (TI) or Total Permanent Disability (TPD before age 70)
Death and Terminal Illness (TI)
Death, Terminal Illness (TI) or Total Permanent Disability (TPD before age 85)
Optional riders
Total Permanent Disability, Critical illness, Waiver of Premium
Critical Care Enhancer Rider (II), Accidental Death Benefit, Total and Permanent Disability Plus Rider (II), Critical Care Waiver Rider (II), Early Critical Care Waiver Rider
Dread Disease Premium Waiver, Total Protect,Essential Protect,Hospital CashAid
Disability Accelerator, Dread Disease Accelerator, Dread Disease Premium Waiver, Total Protect,Hospital CashAid
Critical Illness Accelerator, Early Critical Illness Accelerator, Waiver of Premium, Protect 1 Lite
Additional benefits
Spouse coverage (In the event of your death, your spouse is eligible for term life cover of up to $250,000 for 1 year.)
Quit Smoking Incentive (Smokers enjoy lower non-smoker premium rates for the first 3 policy years, and can continue to do so if they quit within the first 3 policy years).
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Complimentary one-time medical concierge service with a minimum sum assured of $3 million application.
Guaranteed insurability for additional insurance at four milestones
Direct online purchase
Yes
No
No
No
No
Ongoing promotions
Get 20% off + $100 CapitaVoucher with promo code "IFAST". T&Cs apply.

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For smokers: Manulife ManuProtect Term II

Featuring a Quit Smoking Incentive, Manulife allows smokers to enjoy the same premium rates as non-smokers for the first 3 policy years. If you manage to quit smoking within the first 3 policy years, you may then continue to enjoy these lower premium rates for the rest of your policy term.

Profile: Age 30 male, for $500,000 sum assured, fixed term to age 65

FWD TermLife Plus
Manulife ManuProtect Term II
NTUC Termlife Solitaire
Tokio Marine TM Term Assure II
Non-smoker
$381
$534
$455
$458
Smoker
$717
$534
$871
$773

Premiums are rounded down to the nearest whole number. Accurate as of 2 November 2021 with changes subjected to the insurer's discretion.


For the option to convert your term plan: Manulife ManuProtect Term II and Tokio Marine TM Assure II

Both ManuProtect Term II and TM Term Assure II offers the option to convert your existing term plan to another regular-premium life insurance plan. This allows you the flexibility should you want to switch to a whole life or endowment plan in future. Do note that the new plan must have the same sum assured amount as the existing term plan in order to be eligible for this conversion.


For affordable, direct purchase term insurance: FWD Term Life Plus

From just $381 a year for $500,000 life coverage^, FWD Term Life Plus is an affordable option for individuals who are looking for low-cost life insurance.

Profile: Non-smoker male with no pre-existing health conditions. Annual premiums calculated for $500,000 sum assured for a fixed term up to age 65.


FWD TermLife Plus
Manulife ManuProtect Term II
NTUC Termlife Solitaire
Tokio Marine TM Term Assure II
Age 30
$381
$534
$455
$458
Age 40
$592
$689
$767
$715
Age 50
$1080
$1220
$1292
$1298

Premiums are rounded down to the nearest whole number. Accurate as of 2 November 2021 with changes subjected to the insurer's discretion.

Additionally, FWD Term Life Plus can easily be purchased online with the entire application process simple and fuss-free. All you have to do is to just answer four questions (gender, smoking status, age, and coverage amount) to get a quote. A health checkup is also not required to purchase FWD Term Life Plus. Like other FWD plans, all you need to do is to just answer a few questions, and you may purchase coverage of up to $1.5 million if you are eligible to purchase.

**Promotion**

Enjoy preferential rates on your FWD Term Life Plus when you purchase with promo code "IFAST".


Get FWD Quote >


For guaranteed renewable coverage to an older age: FWD Term Life Plus and NTUC Termlife Solitaire

While most term plans only are only guaranteed renewable up to the age of 85, both FWD Term Life Plus and NTUC TermLife Solitaire plans offers guaranteed renewable coverage up to the age of 100. This allows you the option to get covered to an older age should you wish to do so.


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^ Profile: Coverage for a 30 year old non-smoker male.


Available Products on FSMOne Insurance

Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment, General Insurance (Personal and Commercial)


from AIG, Allianz, Chubb, Etiqa Insurance, FWD Insurance, Great Eastern, Manulife, NTUC Income, QBE, Sompo and Tokio Marine Life Insurance


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


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