
An Introduction to Direct Term
Direct term insurance refers to term plans that you can buy directly online from an insurance company. Unlike traditional term plans that requires you to consult and purchase through an advisor, direct term plans offer the fuss-free solution to your insurance planning. This entire purchase process is digitised and simple to understand.
Direct term provides coverage against death and total permanent disability (TPD) and also offers add-on riders should you wish to enhance your coverage.
Why use Direct Term?
Here are the three main benefits of getting a direct term plan.
#1 Fuss-free
A traditional term insurance application requires you to submit your application to insurers then wait for an interim cover or official cover to be issued. A direct term however, allows quotation and purchase to be done directly online without needing to go through an advisor. All you have to do is to key in your details, get a quote and make payment if you like what you see. Coverage can be purchased in just 10 minutes if you are in the pink of health.
#2 No need for medical check-up
Unlike traditional insurance applications that may require you to do a health check-up, a direct term purchase does not. All you have to do is to just answer a few health declaration questions to complete your application online. Apply and purchase online at anytime, anywhere, and for any amount that you deem fit. It's that simple!
#3 Customisable coverage to better suit your needs
Like traditional term plans, direct term offers a choice of coverage ranging from a yearly renewable plan with guaranteed renewal up to age 100 or a fixed plan with coverage for 5 years or up to the age of 70. Choose a fixed term plan if you would like your premiums to remain the same over the entire policy period or opt for a renewable term plan if you would like to start with low premiums that increases with every renewal.
Coverage offered starts from $50,000 sum assured and can be purchased for up to $1,500,000 sum assured. Riders such as a critical illness, total permanent disability (TPD), or waiver of premium can be added on to further enhance your coverage.
Tips for getting Direct Term
If you are looking for a direct term plan, we have three tips for you.
Available Direct Term on FSMOne.com
Product details can be found here (FWD Term Life Plus)
More Term Insurance insights:
The Beginner's Guide To Term Insurance In Singapore
When Is Term Insurance Better For My Child?
Fixed or Renewable – Which is the better term insurance?
I have DPS, do I still need Term plans?
Understanding mortgage insurance: HPS vs MRTA vs Term Life
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Available Products on FSMOne Insurance |
Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment, Motor, Personal Accident, Travel, Home content, Business Insurance etc. from AIG, Allianz, Chubb, Etiqa Insurance, FWD Insurance, Great Eastern, Manulife, MSIG, 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 |

