--- title: Best Term Life Insurance Products in Singapore description: Compare the best term life insurance plans in Singapore. Find out all about term life insurance plans from premiums, sums assured, policy term to help you find out how to get the best policy to suit your needs. --- # High protection coverage at affordable premiums Best price guaranteed, up to 55% off your Term Life plans. [ Get Quote ](https://www.singsaver.com.sg/insurance/term-life-insurance#leadcapture) ## Key considerations when choosing a term life plan ![Coverage-Needs-2](https://www.singsaver.com.sg/hs-fs/hubfs/Coverage-Needs-2.png?width=100&height=100&name=Coverage-Needs-2.png) ### Coverage Needs Has your income changed over the years? Are you under-covered or over-covered? The amount of coverage has to move in parallel with your income and lifestyle. Get some guidance from an independent financial expert on your current financial portfolio and how much coverage you actually need. ![Policy-Duration-2](https://www.singsaver.com.sg/hs-fs/hubfs/Policy-Duration-2.png?width=100&height=100&name=Policy-Duration-2.png) ### How long should you be covered for The purpose of a term life insurance plan is meant to cover existing debts and liabilities for a fixed period. If you are currently paying off a debt or pending the completion of your child's education, consider a duration long enough to cover these milestones. ![Premiums-2](https://www.singsaver.com.sg/hs-fs/hubfs/Premiums-2.png?width=100&height=100&name=Premiums-2.png) ### How much should you be paying Term life premiums have gone down by almost 50% over the past 5 years. Are you overpaying for your existing life insurance plans? Speak with an independent financial expert to find out.  ![Compare-Plans-2](https://www.singsaver.com.sg/hs-fs/hubfs/Compare-Plans-2.png?width=100&height=100&name=Compare-Plans-2.png) ### Compare plans on your terms Compare coverage, premiums, and benefits across insurers to make a more informed decision. With the right independent financial advisor guiding you, you will be given options to switch out your existing plans for new, cheaper ones, or to add on your coverage.     [ Connect with a financial expert ](https://www.singsaver.com.sg/insurance/term-life-insurance#leadcapture) ## Best Term Life Plans with S$1m death coverage ![great-eastern](https://www.singsaver.com.sg/hubfs/great-eastern.svg) ### Great Eastern Great Term ![singlife](https://www.singsaver.com.sg/hubfs/singlife.svg) ### Singlife Elite Term II ![Icon-Banner-Logo-HSBC-1](https://www.singsaver.com.sg/hs-fs/hubfs/M101_HomePage/Icon-Banner-Logo-HSBC-1.png?width=120&height=51&name=Icon-Banner-Logo-HSBC-1.png) ### HSBC Life Term Protector ![fwdlogo-1](https://www.singsaver.com.sg/hs-fs/hubfs/assets_singsaver/fwdlogo-1.png?width=110&height=62&name=fwdlogo-1.png) ### FWD Future First ![tokio-marine-2-1](https://www.singsaver.com.sg/hs-fs/hubfs/tokio-marine-2-1.png?width=150&height=47&name=tokio-marine-2-1.png) ### Tokio Marine Term Assure (II) #### Life & Total Permanent Disability coverage S$1 million #### How long are you covered for? till 60 years old / for 30 years #### Monthly Premiums S$44.10 S$38.55 S$45.67 S$46.31 S$31.25 #### Early critical illness (ECI) & disability add-on S$350,000 #### Monthly Premiums (with ECI S$350k add-on) S$124.35 S$149.90 S$130.19 S$208.88 S$112.05 "Quotes are based on a 30 year old Male, non-smoker" ## Did you know that Term life premiums have gone down by more than 50% since 5 years ago? If you're looking to seek an independent review of your existing policies, drop us your details below. ![Why should you make life insurance a priority](https://www.singsaver.com.sg/hs-fs/hubfs/Why%20should%20you%20make%20life%20insurance%20a%20priority_.png?width=940&height=586&name=Why%20should%20you%20make%20life%20insurance%20a%20priority_.png) ## Why should you make life insurance a priority? With the right insurance, you can be rest assured that your loved ones won't be financially burdened should anything happen to you. A comprehensive and tailored insurance policy according to your needs can help to cover the immediate bills, and defray the cost of daily living expenses in adverse situations. ## Does term life insurance cover critical illness? Critical illness cover can be added to the main term life plan at a nominal amount. To determine the necessary coverage you need, it's beneficial to seek advice from an independent financial advisor who will assess your financial situation, do a review of your existing plans (if any), and provide suitable product recommendations. Other than critical illness, there are other riders like disability that can be added to the main plan to provide a more comprehensive coverage overall. All in all, it will be useful to have a deep understanding about your current financial situation, the protection gaps you need to fill based on your lifestyle and how much budget should you cater for insurance.    ![Does term life insurance cover critical illness](https://www.singsaver.com.sg/hs-fs/hubfs/Does%20term%20life%20insurance%20cover%20critical%20illness_.png?width=940&height=586&name=Does%20term%20life%20insurance%20cover%20critical%20illness_.png) [ Get advice from an expert ](https://www.singsaver.com.sg/insurance/term-life-insurance#leadcapture) ## How to choose the right insurance plan? Follow these steps to find the right insurance plan tailored for you. ### 1.Understand your current financial situation Before you start getting overwhelmed with a thousand insurance plans in the market, the first step is to assess your current financial situation. Understand the assets and liabilities that you have - If a mishap were to happen to you, will your current finances be able to support your dependents and their lifestyle or cause a financial burden to them.  If your answer is the latter, then you should start making insurance a priority lest it's too late.  ### 2.Assess if you have any outstanding obligations or debts to pay Are you currently paying off a mortgage loan, or supporting a child through education? Identifying the amount of obligations you are currently bearing will help you make a more informed decision on how much financial coverage you will require and how long you will potentially need that coverage for.  ### 3.Review all your existing insurance plans and coverage Do you already have existing insurance plans? Dig them all out and understand the type, amount of coverage, and policy duration that you are covered for. Assess if your current plans are sufficient to cover your financial obligations should something happen to you. This could mean getting hit with an illness which requires hospitalisation and treatment, or death where existing financial obligations fall on your dependents.    ### 4.Identify the gaps that need to be filled Once you have reviewed your existing coverage type, amount and duration, it's time to identify what are the gaps to be filled.  This comes in a few areas: hospitalisation bills, personal accident outpatient costs, treatment costs for critical illness like cancer, accidental death or death by natural causes. Bills can easily accumulate to > S$100,000 once you're hit with an illness that requires treatment.  ### 5.Compare plans across various insurance providers At this stage, you probably would have gotten a good understanding of your current finances, obligations and gaps that need to be attended to. Setting aside 10-20% of your savings for insurance is a good ballpark figure when deciding how much to park in insurance.  Compare plans across various insurance providers for a better overview on the type of plans in the market. Although there is no apple to apple comparison for life insurance, narrowing down a few products based on your needs brings you a step closer to finding the right insurance plan for you.  ### 6.Seek second opinion from a trustable financial advisor Do you know the difference between getting a term life plan directly online and going through a financial advisor? There are a few limitations for direct purchase without the need for medical underwriting. 1. Coverage is capped at SGD400k 2. Policy coverage term is only till 65 years old After getting an idea of a few key insurers and products, it is always good to get advice and second opinion from a subject matter expert. In this case, an independent financial advisor will be able to provide objective views and recommendations based on your needs and if you are looking in the right direction.  Of course, being able to land on a trustable financial advisor is also important. Hence, an independent advisor that is not tied to any particular insurance provider is perceived to be more objective and provide the right insurance plan for you.  ### 7.Purchase your insurance plan Purchasing of life insurance plans can be done in 2 ways: direct purchase or offline through a financial advisor.  While all offline products are available online, all online products can be supported by a financial advisor should you need help through the buying journey.  That being said, there are more and more life insurance products made available for direct purchase. If you are very sure of your insurance needs and a solution is readily available digitally, act on it. However, life insurance can be a little complex to understand and even going through these 7 steps is tedious enough.  There is no harm seeking help from an independent financial advisor to guide you through this journey. Financial planning and review sessions from these advisors are free and non-obligatory, so book a free financial review with an independent financial advisor now and start your journey to finding the right insurance plan for you.  ## FAQ - General ### What is term life insurance? Term life insurance is a type of life insurance policy that provides coverage for a specified period (term), typically ranging from 5 to 30 years. It offers a death benefit payout to your beneficiaries if you pass away during the term of the policy. There are options to add riders to your term life plan. ### What is a rider in insurance terms? A rider in insurance refers to an optional add-on or additional coverage that can be attached to a primary insurance policy. It provides additional benefits or customization options beyond what the base policy already offers. Examples of riders for term life insurance plans include: 1. Critical Illness Rider: This rider provides a lump sum payout if the insured is diagnosed with a covered critical illness, such as cancer, heart attack, stroke, or kidney failure. The payout can help cover medical expenses, loss of income, or other financial obligations during the recovery period. 2. Total and Permanent Disability (TPD) Rider: This rider pays a lump sum benefit if the insured becomes totally and permanently disabled and is unable to work. The funds can be used to cover ongoing living expenses, medical care, or necessary lifestyle modifications. ### How does term life insurance work? With term life insurance, you pay regular premiums for the specified term. If you die within the term, your beneficiaries receive the death benefit. If you outlive the term, the coverage ends, and there is no payout. ### How much term life insurance coverage do I need? The total sum to cover your total monthly expenses excluding your personal expenses for 10 years or by the period you have indicated. If you have dependents, you may indicate a longer period you wish to provide for income replacement plus the education fund required. Total outstanding loans and total savings and investments will be taken into account. You may use our [insurance calculator here.](https://plannerbee.co/calculator-insurance/) ### How do I choose the right term length for my policy? Select a term length that aligns with your financial obligations and the period of time you anticipate needing coverage. Consider factors such as mortgage duration, children's education timeline, and the years until retirement. Seeking help from a financial advisor or insurance professional can help to map out such timelines for you and advise the right term length for your policy. ### Why should I buy a term life insurance plan instead of a whole life plan? Term life insurance and life insurance can provide protection against unforeseen occurrences, but they work in different ways. Read more details in our blog article [here.](https://www.singsaver.com.sg/blog/term-insurance-vs-life-insurance) ## Our Life Insurance Providers ![Tiq_Etiqa_LogoLockUp-02-2](https://www.singsaver.com.sg/hs-fs/hubfs/Tiq_Etiqa_LogoLockUp-02-2.png?width=50&height=35&name=Tiq_Etiqa_LogoLockUp-02-2.png) ![3-prudential](https://www.singsaver.com.sg/hs-fs/hubfs/3-prudential.png?width=500&height=125&name=3-prudential.png) ![FWD_LOGO_200x50-2](https://www.singsaver.com.sg/hs-fs/hubfs/FWD_LOGO_200x50-2.png?width=200&height=50&name=FWD_LOGO_200x50-2.png) ![Singlife Logo](https://www.singsaver.com.sg/hs-fs/hubfs/SINGLIFE_LOGO_200x50-1.png?width=300&height=75&name=SINGLIFE_LOGO_200x50-1.png) ![INCOME_LOGO_200x50](https://www.singsaver.com.sg/hs-fs/hubfs/INCOME_LOGO_200x50.png?width=200&height=50&name=INCOME_LOGO_200x50.png) ![Great Eastern Logo](https://www.singsaver.com.sg/hs-fs/hubfs/GE_LOGO_200x50.png?width=300&height=75&name=GE_LOGO_200x50.png) ## Latest Life Insurance News Read the latest news about Life Insurance products in Singapore ![Best Term Life Insurance Plans In Singapore (2022)-1](https://www.singsaver.com.sg/hs-fs/hubfs/Imported%20sitepage%20images/5%20Best%20Term%20Insurance%20Plans%20In%20Singapore%20(2022)-1.png?width=1020&height=533&name=5%20Best%20Term%20Insurance%20Plans%20In%20Singapore%20(2022)-1.png) ##### [5 Best Term Insurance Plans In Singapore](https://www.singsaver.com.sg/blog/best-term-insurance-plans-singapore) ![Term Insurance vs Life Insurance – Which One is Right for You_-1](https://www.singsaver.com.sg/hs-fs/hubfs/Imported%20sitepage%20images/Term%20Insurance%20vs%20Life%20Insurance%20%E2%80%93%20Which%20One%20is%20Right%20for%20You_-1.png?width=1200&height=628&name=Term%20Insurance%20vs%20Life%20Insurance%20%E2%80%93%20Which%20One%20is%20Right%20for%20You_-1.png) ##### [Term Insurance vs Life Insurance – Which One is Right for You?](https://www.singsaver.com.sg/blog/term-insurance-vs-life-insurance) ![Cash Value Life Insurance – How Does it Work, and Who is it For](https://www.singsaver.com.sg/hs-fs/hubfs/Imported%20sitepage%20images/Cash%20Value%20Life%20Insurance%20%E2%80%93%20How%20Does%20it%20Work%2c%20and%20Who%20is%20it%20For_-2.png?width=1200&height=628&name=Cash%20Value%20Life%20Insurance%20%E2%80%93%20How%20Does%20it%20Work%2c%20and%20Who%20is%20it%20For_-2.png) ##### [Cash Value Life Insurance – How Does it Work, and Who is it For?](https://www.singsaver.com.sg/blog/cash-value-life-insurance) © 2015-2026 SingSaver PTE LTD. 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