Unlocking the key benefits of term life insurance

 Term life insurance in Singapore serves as a great financial tool, offering a range of benefits tailored to individual needs. This form of insurance is designed to provide coverage for a specific period of time, ensuring flexibility and adaptability as life unfolds.

· Tailored to your needs:

Perhaps the most compelling benefit of term life insurance is its inherent adaptability to individual circumstances. Term life insurance empowers individuals to tailor their coverage to meet their specific needs. Individuals can customise their fixed monthly income, benefit payout period and deferment period as per their needs.

The tailoring capabilities of term life insurance make it a versatile choice for individuals seeking insurance that aligns with their unique needs. This adaptability makes sure that the coverage remains relevant and effective, addressing the specific needs of each policyholder.


· Guaranteed income for 5 years:

Certain term life insurance plans in Singapore provide a unique advantage - guaranteed income. This feature offers a steady stream of income to the policyholder under the disability benefit. Here, policyholders can enjoy a fixed monthly income for up to five years if they are unable to work at their current job. This guaranteed income acts as a financial safety net, providing stability during what can be a challenging time.

The guaranteed income benefit adds an extra layer of protection to term life insurance. It provides financial support and helps policyholders manage living expenses and maintain their quality of life.

· Enhanced coverage when needed:

Life is marked by unpredictable events and milestones, and term life insurance is designed to offer enhanced coverage precisely when it is needed the most. Term life insurance allows for an increase in coverage to meet the demands of specific events. Under enhanced coverage, one can enjoy a selection of supplementary benefits that can be added to the policyholder's plan.

This includes crisis care, where coverage is provided for up to 36 critical illness conditions and selected diabetic complications. Here, one can customise their premium payment and policy term as well. The ability to enhance coverage makes sure that individuals have the necessary protection during critical times.


· Incremental sum assured benefit:

Term life insurance often comes with the option for incremental sum assured benefit. This feature allows policyholders to make incremental adjustments to their coverage. Without having to undergo a medical examination, policyholders have the option to increase the annual incremental rate of their base coverage from 1% to 10%.

The incremental sum assured benefit is a practical feature, providing a means for policyholders to adapt to their insurance coverage as their circumstances change.

· Wide range of policy and premium terms:

One of the distinctive advantages of term life insurance is its flexibility in both policy and premium terms. Policyholders have the choice to select coverage durations that align with their specific life stages or financial commitments. Various insurers offer customisable policy terms from 10 to 82 years and premium payment terms of 5 to 82 years.

Understanding and utilising these advantages enables people to navigate life's challenges confidently. knowing that their term life insurance coverage is designed to meet their evolving needs.

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