Term Life

SAFRA Essential Term & SAFRA Living Care: Affordable Protection for You and Your Loved Ones

In today's uncertain world, ensuring financial security for your family is more important than ever. Have you ever wondered how you could protect your loved ones without breaking the bank? SAFRA Essential Term and SAFRA Living Care offer a solution that's both comprehensive and budget-friendly . Let's dive into the details of these plans and see how they can provide peace of mind for you and your family.

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What are SAFRA Essential Term and SAFRA Living Care?

SAFRA Essential Term and SAFRA Living Care are affordable insurance plans designed to provide crucial financial protection for you and your family . These plans offer coverage against death, total and permanent disability (TPD), and even critical illnesses, depending on the plan you choose.

Key Features That Make These Plans Stand Out

Incredibly Affordable Premiums

SAFRA Essential Term starts at just $1 per month for those aged 18-30. SAFRA Living Care begins at only $2 per month for the same age group.

Worldwide Coverage

24-hour protection against Death and Total and Permanent Disability (TPD before age 65). Coverage extends globally, giving you peace of mind wherever you go.

Additional Benefits with SAFRA Essential Term

Partial and Permanent Disability benefit for accidents. Extra 25% payout of the sum assured for accidental death .

Comprehensive Protection with SAFRA Living Care

Covers 37 Critical Illnesses . Includes a Hospital Cash Benefit of up to $200 per day.

Flexible Coverage Options

Sum assured available in multiples of $10,000. Maximum coverage up to $300,000 (SAFRA Essential Term) or $200,000 (SAFRA Living Care).

Family Coverage

Your spouse and children who are SAFRA members can also be covered.

Why compare SAFRA Essential Term with other Term Life options through Whatins?

Traditional Approach

  • Limited term length options from one insurer
  • May push longer terms than needed

Whatins Advantage

  • Compare term lengths across multiple insurers
  • See how different term life insurance periods affect premiums
  • Understand renewal options across insurers
  • See competing term length justifications and determine which one is best for you

SAFRA Essential Term: A Closer Look

SAFRA Essential Term is designed to provide basic but crucial coverage at an incredibly affordable rate. Here's what you need to know:

Coverage

  • Death

  • Total and Permanent Disability (before age 65)

  • Partial and Permanent Disability (due to accidents, before age 65)

Special Feature

Additional 25% payout of the sum assured in case of accidental death

Premium Examples (Monthly)

  • Ages 18-30: $1.00 for $10,000 coverage, $30.00 for $300,000 coverage

  • Ages 46-55: $1.80 for $10,000 coverage, $54.00 for $300,000 coverage

Maximum Coverage

  • Up to $300,000 for ages up to 65

  • Up to $150,000 for ages 66-70

SAFRA Living Care: Enhanced Protection

SAFRA Living Care takes your protection a step further by including critical illness coverage and hospital cash benefits. Here's what you get:

Coverage

  • Death

  • Total and Permanent Disability (before age 65)

  • 37 Critical Illnesses

  • Hospital Cash Benefit

Special Feature

Daily Hospital Cash Benefit of up to $200 per day (for up to 365 days per hospital stay in Singapore)

Premium Examples (Monthly)

  • Ages 18-30: $2.00 for $10,000 coverage, $40.00 for $200,000 coverage

  • Ages 46-50: $4.20 for $10,000 coverage, $84.00 for $200,000 coverage

Maximum Coverage

  • Up to $200,000 for ages up to 65

  • Up to $100,000 for ages 66-70

Real-Life Scenarios

Young Adult Starting Out

Sarah, 25, wants basic protection but is on a tight budget. She can get $100,000 coverage with SAFRA Essential Term for just $10 per month . This gives her peace of mind knowing her family would be financially protected if anything were to happen to her.

Family Man Seeking Comprehensive Coverage

John, 40, wants more extensive protection for his family. He opts for SAFRA Living Care with $200,000 coverage at $42 per month . This not only protects his family in case of his death or disability but also provides financial support if he's diagnosed with a critical illness or hospitalized.

Mature Adult Looking for Continued Protection

Linda, 58, wants to ensure she has coverage in her later years. She can get $150,000 coverage with SAFRA Essential Term for $37.50 per month , providing financial security for her loved ones well into her retirement years.

Pros and Cons

Pros

  • Extremely affordable premiums

  • Worldwide coverage

  • Additional benefits like accidental death payout and hospital cash benefit

  • Coverage available up to age 70

  • No medical check-up required (subject to health declaration)

Cons

  • Coverage reduces after age 65

  • Premium rates increase with age

  • SAFRA membership required

  • Sum assured for spouse and children cannot exceed the principal member's sum assured

Frequently Asked Questions

Can I apply if I'm not a SAFRA member?

No, these plans are exclusively for SAFRA members and their families.

Is there a medical examination required?

Generally, no medical examination is required, but you'll need to complete a health declaration.

Can I increase my coverage later?

You may be able to increase your coverage at renewal, subject to underwriting and age limits.

What happens to my coverage if I leave SAFRA?

Your coverage will end if your SAFRA membership lapses or is terminated.

Are the premiums guaranteed?

No, premium rates are not guaranteed and may be reviewed from time to time.

Conclusion

SAFRA Essential Term and SAFRA Living Care offer affordable and comprehensive protection options for SAFRA members and their families . Whether you're looking for basic coverage or more extensive protection including critical illness and hospital cash benefits, these plans provide flexible options to suit different needs and budgets.

However, as with any insurance decision, it's crucial to carefully consider your personal circumstances, financial situation, and long-term needs. While these plans offer excellent value, they may not be suitable for everyone. It's always wise to compare different options and consult with a financial advisor before making a decision.

Remember, the best insurance plan is one that provides the right coverage for your needs at a price you can afford consistently. SAFRA Essential Term and SAFRA Living Care aim to strike that balance, offering peace of mind without straining your finances.

Get Expert Advice

Ready to explore your options further? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on term life and critical illness insurance. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.

By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best coverage for your needs. Don't leave your family's financial security to chance – get the expert advice you deserve today .

Click here to get 5 expert opinions on term life and critical illness insurance

Podcast Transcript: SAFRA Essential Term

Read the complete transcript of our expert discussion about SAFRA Essential Term. This detailed analysis covers key features, benefits, and important considerations for potential policyholders.

Starting Your Career in Singapore: The Insurance Reality Check

All right. You've just landed that first big job here in Singapore. Offer letter signed. Feeling pretty good, right? Like to

Click above to view the complete podcast transcript

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