FSMOne makes buying insurance much more affordable for everyone. To help you compare the difference in annual premiums based on different age groups, we have done up the comparison table below to give you a better idea on how much more affordable term insurance can be for you and your loved one. It is not as expensive as many perceived them to be if you buy the right plan.
Example of a Male, Non-smoker:
- Policy coverage till 65 years old for NTUC and Manulife, 70 years old for TokioMarine
- SGD $1 million Death and Total Permanent Disability (TPD) Coverage.
*#Annual premiums in SGD $
NTUC Income |
Manulife |
Tokio Marine |
||
Age |
Annual Premium |
Old Annual Premium |
New Annual Premium |
Annual Premium |
30 |
$1,671.85 |
$1,202 |
$1,044 |
$1,411 |
40 |
$2,419.50 |
$2,016 |
$1,960 |
$3,257 |
50 |
$3,157.95 |
$3,701 |
$3,257 |
$4,097 |
Example for Female, Non-Smoker:
*#Annual premiums in SGD $
NTUC Income |
Manulife |
Tokio Marine |
||
Age |
Annual Premium |
Old Annual Premium |
New Annual Premium |
Annual Premium |
30 |
$1,235.70 |
$948 |
$843 |
$997 |
40 |
$1,661.45 |
$1,410 |
$1,380 |
$1,631 |
50 |
$2,353.75 |
$2,276 |
$2,246 |
$2,598 |
*Premiums reflected on the table are tabulated on 4th January 2017.
#This is a simple illustration that does not take into account client risk profiles, financial objectives and other types of commitment.
From the illustrations, you can deduced that age matters a lot on the amount of premiums that you will have to pay. The younger and the healthier you are, the cheaper the premiums will be.
Our team of friendly advisers are able to help you review your financial objectives, long term commitments, and customize investment and insurance advice specific to your needs. If you would like assistance in reviewing your financial and protection portfolio, or simply to get a quote for an insurance plan, you can contact our advisers at advisory@fundsupermart.com.
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