How is iFAST Digital Term different from the rest?

What makes iFAST Digital Term different and the reason you should consider it.

Insurance Team
Insurance Team07 Sep 2023 2418 Views

If you are looking for an insurance product just for the sole purpose of protection at the lowest cost possible, you should consider a Term Life insurance.


What is iFAST Digital Term?

iFAST Digital Term is a fully digital solution that we have designed in partnership with Raffles Health Insurance (RHI). It is a Term insurance that provides you with the coverage against Death and Terminal Illness. You can also choose to enhance your coverage further with the four optional riders available below:


Fast and simple online application process

Are you guilty of postponing your insurance purchase just because you do not want to meet up with your adviser to go through tons of paperwork just for one purchase? This is one of the most common pain points that we wanted to address with our product. You can now get your desired coverage anytime with iFAST Digital Term!


How is iFAST Digital Term different from the rest?

A term life solution may not be new to the market. But what truly sets iFAST Digital Term apart from the rest is how our Cancer riders are being designed.

It is common to add on additional riders to a core plan to enjoy enhanced coverage but do you know that most insurer offers riders on an accelerated basis? This means that if you were to make a successful claim on your riders, the rider’s sum assured will payout and the whole policy will either be terminated or you would be left with a lower sum assured. This would also mean that you will now be left with a lower life coverage and you likely might face difficulties should you wish to take up another life insurance in the future due to the pre-existing condition you now have.

Our Cancer 360 and Cancer Plus rider on the other hand, offers payout on an additional basis. Any successful claim on these riders will not terminate your main plan or reduces the sum assured accordingly. This provide a greater level of assurance to our customer that their life coverage level will not be affected yet at the same time they can receive the payout from the riders for them to truly focus on seeking necessary treatments.

Let’s take a look at these two clients below to better understand how an accelerating rider works compared to an additional rider:

Did you notice that client B is also able to choose a higher sum assured for its rider compared to his main plan? This is also one of the benefits of a rider being on an “additional” basis. It allows our client to have a greater degree of flexibility to choose their preferred coverage level rather than being restricted only to the sum assured of the main plan.


Our Commission Rebate Programme*

Apart from designing our Cancer riders to offer payout on an additional basis. We wanted to further reduce the cost of insurance for all our clients. We are pleased to announce that you will be auto enrolled into our commission rebate programme when you sign up for iFAST Digital Term!

Our programme means that whenever you choose to insure with us on an eligible product, we will share a portion of the commissions we received from the insurer back to you.


More information on iFAST Digital Term


Get covered with iFAST Digital Term

And enjoy up to 45% commission rebates!



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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Disclaimer:

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

*Commission rebates will only be given for policies purchased using cash.

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All materials and contents found in this site are strictly for general circulation and informational purposes only and should not be considered as an offer, or solicitation, to deal in any of the funds or products found/identified in this site. While iFAST Financial Pte Ltd ("IFPL") has tried to provide accurate and timely information, there may be inadvertent delays, omissions, technical or factual inaccuracies and typographical errors. Any opinion or estimate contained in this report is made on a general basis and neither IFPL nor any of its servants or agents have given any consideration to nor have they or any of them made any investigation of the investment objective, financial situation or particular need of any user or reader, any specific person or group of persons. You should consider carefully if the products you are going to purchase are suitable for your investment objective, investment experience, risk tolerance and other personal circumstances. If you are uncertain about the suitability of the investment product, please seek advice from a financial adviser, before making a decision to purchase the investment product. Past performance is not indicative of future performance. The value of the investment products and the income from them may fall as well as rise. Opinions expressed herein are subject to change without notice. In respect of any matters arising from, or in connection with the said research analyses or research reports, recipients of the report are to contact IFPL at 10 Collyer Quay, #26-01 Ocean Financial Centre Building, Singapore 049315, or by telephone at +65 6557 2853. Where the report contains research analyses or research reports from a foreign research house and if the recipient of such research analyses or research reports is not an accredited investor, expert investor, institutional investor or an ex-accredited investor, IFPL accepts legal responsibility for the contents of such analyses or reports to such persons only to the extent as required by law. Please note that only certain security(ies) herein are available to all investors, while the rest are only available for certain persons to invest in, such as Accredited Investors (as defined in the Securities and Futures Act) or one who invests at least S$200,000 (or its equivalent currency) per transaction. To qualify as an Accredited Investor, one needs to submit a declaration form and certain relevant supporting documents, according to iFAST’s prevailing policies and procedures.

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