I am between the ages of 25 to 35. Do I need term insurance now?

What is Term Insurance?

Term insurance is a life insurance plan that covers death and terminal illness (TI) for a specified period. These plans do not have any cash values and offer lower upfront premiums making them an affordable option for life insurance. Typically purchased for temporary protection, term insurance plans can be used to cover a protection gap up to retirement age. Riders may also be available for you to add-on to enhance your coverage.

💡Need help determining your coverage amount?

According to the Monetary Authority of Singapore (MAS)’s Basic Financial Planning Guide, individuals are recommended to have the following basic insurance coverages:

• Death, and Total Permanent Disability (TPD) coverage equivalent to 9 times their annual income; and
• Critical Illness coverage equivalent to 4 times their annual income.

Am I too young to get Term Insurance?

Three common scenarios where most people look to get life insurance are: (1) Getting married, (2) Starting a family, and (3) Buying a house or acquiring a mortgage loan.

While you may not have any dependents who are financially reliant on you between the ages of 25 to 35, getting insured now can help future proof your life insurance coverage by locking in your insurability and ensuring that you have already secured affordable coverage even if health conditions arise in future. Moreover, getting insured at a younger age allows you access to lower premiums and a simpler application process.

• Lower premiums – Premiums tend to be lower when you are younger as insurers generally consider younger individuals to be of a lower-risk. As shown in the table below, the annual premium for a 45-year-old non-smoking female is more than double that of a 25-year-old non-smoking female.

	Age 25, non-smoker female	Age 35, non-smoker female	Age 45, non-smoker female
Annual premiums for $500,000 Death and Terminal Illness coverage to age 65	$209.80	$324.00	$558.75

Figures are for illustration purposes only and are accurate as of 16 July 2025.

• Simpler applications – As younger individuals are generally healthier than older adults, a clean slate of health will result in simpler applications removing the need to undergo medical checkups for coverage.

What are my options

There are two types of term life insurance plans:

• Level Term Life: Policyholders can enjoy fixed and levelled premiums throughout their policy term. This option is suitable for those looking to address their protection gap affordably.
• Renewable Term Life: Policyholders can renew their coverage at the end of the policy term without having to undergo medical check-ups. However, premiums are not fixed and may increase with each renewal. This option may be suitable for mortgage coverage or for those looking to get temporary coverage.

Illustrated premiums

For better comparison, we generated quotations for an age 25 (date of birth: 01/01/2000), non-smoker Singaporean female residing in Singapore.

	iFAST Digital Term	Etiqa Essential Term Life Cover	Income Termlife Solitaire	Manulife ManuProtect Term II	Singlife Elite Term II	Tokio Marine TM Term Assure II
Covers for	Death and Terminal Illness	Death and Terminal Illness	Death and Terminal Illness	Death and Terminal Illness	Death and Terminal Illness	Death, Terminal Illness, and Total and Permanent Disability (TPD)
Riders available?	Yes	Yes	Yes	Yes	Yes	Yes
Sum Assured	$500,000	$500,000	$500,000	$500,000	$500,000	$500,000
Annual premiums^	$125.00^	$226.21	$260.36	$276.50	$209.80	$176.70 for the first 3 years, and $294.50 thereafter.
Direct purchase available?	Yes	No	No	No	No	No
Premium type	Yearly renewable to age 70 (Age Last Birthday)	Level premiums to age 65 (Age Next Birthday)	Level premiums to age 64 (Age Last Birthday)	Level premiums to age 64 (Age Last Birthday)	Level premiums to age 65 (Age Next Birthday)	Level premiums to age 65 (Age Next Birthday)

Premiums shown in the table have been generated for base plans only with optional riders removed. Figures are for illustration purposes only and are accurate as of 9 July 2025.
^iFAST Digital Term is a yearly renewable term plan with premiums based on life assured’s attained age at renewal. Plan can be renewed up to age 70.

Our recommendation

• For bite sized coverage: iFAST Digital Term

New to insurance? If you are just starting out and looking to get bite sized coverage, iFAST Digital Term may be the solution for you. Offering the option to purchase coverage in blocks of $50,000, the barriers to entry for iFAST Digital Term are low and coverage can be obtained from just $11.50 a year^.

Moreover, from now till 15 August 2025, we have an exclusive SG60 promotion just for you! Receive $60 rebates* on your first-year premiums when you choose to get protected with iFAST Digital Term. This could allow you to potentially enjoy up to 91% off* your iFAST Digital Term insurance plan!

Estimated first year premiums for $300,000 base iFAST Digital Term coverage:

	Annual premiums	Commission rebate (FSM Ruby tier)	SG60 discount*	First-year premiums payable
Age 25	$75	$2.68	$60	$12.32
Age 35	$87	$3.11	$60	$23.89

Premiums are for a non-smoker female profile for iFAST Digital Term and are accurate as of 16 July 2025.

📢 Don’t forget to apply promo code “SG60” at policy purchase page to be eligible for the $60 rebates!

*Terms and Conditions apply. Read more here

• For lowest total premiums payable: Singlife Elite Term II

If you are looking for a level term insurance plan, consider Singlife Elite Term II for the most affordable total premiums payable. At just $209.80 a year for a 25-year-old non-smoker female, it would only cost you $8,182.20 to get coverage for up to age 65 making it the most affordable option for level term insurance. At FSMOne, we also offer commission rebates for insurance purchases made through us which can further lower the cost of your insurance. More information on our commission rebate program can be found here or click here to speak to us to find out more.

Products Available on FSMOne

Want to find out what products are available on FSMOne, and if these products are suitable for you?

Head to Insure > Insurance Products or click here to view insurance plans available on FSMOne.

Click on each product to view the key features, check for ongoing promotions (if applicable), and explore similar plans available.

Have a question? Click the button below to speak to us:

Available Products on FSMOne Insurance

Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment, General Insurance (Personal and Commercial) from AIG, Allianz, Cigna, Chubb, Etiqa Insurance, FWD Insurance, Great Eastern, Henner, Income, Manulife, MSIG, Raffles Health Insurance, Singlife, Sompo, Tokio Marine, and QBE. Please check with our team if the product you want is available on FSMOne Insurance

Read also,

• How much should my insurance cost when I am 30?
• MediShield Life is not for private hospital bills. Here’s why.
• A Guide to assessing your Enhanced IncomeShield plan
• Should I downgrade my Raffles Shield plan coverage? This is what we think
• Our top picks for personal accident plans for families

Information obtained from:
https://www.mas.gov.sg/-/media/mas-media-library/news/media-releases/2023/basic-financial-planning-guide-2023.pdf
Information retrieved on 9 July 2025.

Disclaimer(s):
^Profile: Age 30, non-smoker female for $50,000 core iFAST Digital Term coverage.

All materials and contents found in this advertisement are strictly for information purposes only and should not be considered as an offer or solicitation to transact in any product. This advertisement is not a contract of insurance.

Insurance products are underwritten by the respective insurance partners and distributed by iFAST Financial Pte Ltd (“iFAST”). You are advised to review the specific terms, conditions and exclusions in the relevant policy contract.

All materials and contents found in this advertisement do not have any regard for the specific financial objectives, financial situation and particular needs of any specific person. You are advised to read the key product documents, including (but not limited to) the product summary, precise terms, conditions and exclusions specified in the relevant policy contract and consider carefully before deciding whether the product is suitable for you. If you are uncertain about the suitability of a product, please seek advice from a financial adviser before making a decision to purchase the product.

While iFAST and its third-party providers strive to provide accurate and timely information, there may be inadvertent omissions, inaccuracies, and typographical errors. Opinions expressed herein are subjected to change without notice. More information on iFAST Digital Term can be found here: https://secure.fundsupermart.com/fsmone/insurance/ifast-digital-term.

This comparison does not include information on all similar products. iFAST does not guarantee that all aspects of the products have been illustrated. You may wish to conduct your own comparison for products that are listed in www.comparefirst.sg.
Purchasing a life insurance policy is a long-term commitment, and early termination may involve significant costs. The surrender value, if any, may be zero or less than the total premiums paid.

This advertisement has not been reviewed by Monetary Authority of Singapore.