Singlife Elite Term
We analysed Singlife Elite Term docs so you don't have to. Key find: Convertible to whole life plan up to age 65. Protect your family's future. See our full review for more insights.
In today's uncertain world, ensuring your family's financial security is more important than ever. Did you know that 1 in 5 Singaporeans are underinsured , leaving their loved ones vulnerable in case of unexpected events? If you're looking for an affordable and straightforward way to protect your family's future, Singlife Simple Term might be the solution you've been searching for.
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Singlife Simple Term is a yearly renewable term life insurance plan designed to provide essential financial protection for your loved ones at budget-friendly prices. It offers a lump sum payout in the event of death, Terminal Illness, or Total and Permanent Disability. With its easy application process and flexible coverage options, it's an accessible way to ensure your family's financial stability even when you're no longer able to provide for them.
Premiums start from as low as S$0.37 per day for S$500,000 coverage. That's less than the cost of a cup of coffee!
Choose coverage from S$150,000 to S$500,000. Customize your protection based on your needs and budget.
Apply online or through a financial adviser representative. Answer just a few health questions – no medical examination required .
Get continuous protection until age 86. Simply renew your plan annually.
Receive the full sum assured if you die, become terminally ill, or are diagnosed with total and permanent disability.
Enhance your coverage with Personal Accident Cover and Critical Illness Cover.
Age | What suggestion covers | Premium |
---|---|---|
25, Female making $3,786 a month | death and tpd $454,320 critical illness $181,728 | Not provided |
28, Female making $3,870 a month | TPD $500,000 death $1,000,000 critical illness $500,000 early critical illness $50,000 | $114.9 |
21, Female making $4,600 a month | death $500,000 maximum claim $500,000 total permanent disability $500,000 | $21.4 |
24, Female making $3,333.333 a month | TPD $500,000 death $500,000 critical illness: advanced stage $200,000 early intermediate stage $100,000 terminal illness $500,000 | $1,022.05 |
26, Male making $6,129 a month | death and tpd $1,250,000 critical illness: term till 75 multipay $200,000 critical illness premium waiver till 99 | Not provided |
Pays out the full sum assured to your beneficiaries if you pass away.
Provides the full sum assured if you're diagnosed with a terminal illness.
Offers the full sum assured if you become totally and permanently disabled.
Covers accident-related injuries or death. Sum assured ranges from S$100,000 to S$500,000.
Pays out if you're diagnosed with any of 36 severe-stage critical illnesses. Choose a sum assured between S$50,000 and S$350,000.
With Singlife Simple Term, you have the flexibility to choose your coverage amount:
You can select any amount between these two figures, allowing you to tailor your protection to your specific needs and budget.
The cost of Singlife Simple Term depends on several factors, including your age, gender, smoking status, and chosen coverage amount. Here's an example to give you an idea:
For a non-smoking female between 1 and 35 years old:
Remember, as this is a yearly renewable plan, the premium will increase as you get older. However, the initial costs are designed to be very affordable, making it easier for you to start protecting your loved ones right away.
Let's look at an example to see how Singlife Simple Term could benefit you and your family:
Meet Andy:
Here's how Andy's policy could protect him and his family over the years:
Age 41: Andy purchases Singlife Simple Term
Age 65: Andy is involved in a pedestrian accident
Age 75: Andy is diagnosed with End Stage Liver Failure
Age 82: Andy passes away
Total protection provided to Andy and his family: S$809,750
This example illustrates how Singlife Simple Term, along with its optional riders, can provide comprehensive financial protection throughout different life stages and circumstances.
Very affordable premiums, especially for younger individuals
Flexible coverage options
Easy application process with no medical examination
Yearly renewable up to age 86
Optional riders for more comprehensive coverage
Premiums increase with age
No savings or investment component
Coverage ends at age 86
Renewal is not guaranteed
You would need to check with Singlife about options for adjusting your coverage after purchase.
There's usually a grace period for premium payments. Check the policy terms for specific details.
No, the premiums are not guaranteed and may increase with age and at renewal.
You should consult with Singlife or your financial adviser about options for modifying your coverage.
Like most insurance policies, there are exclusions. For example, pre-existing conditions may not be covered. Refer to the Product Summary for full details.
Premiums are not guaranteed and increase with age
The plan has no savings or investment feature, so there's no cash value if the policy ends or is terminated early
Always read the Product Summary before purchasing
Consider seeking advice from a financial adviser to ensure the product suits your needs
Be cautious about replacing existing policies, as there may be disadvantages to switching
Singlife Simple Term offers an affordable and straightforward way to ensure your loved ones' financial security. With its flexible coverage options, easy application process, and optional riders, it provides essential protection that can be tailored to your specific needs and budget.
However, as with any financial decision, it's important to carefully consider your personal circumstances, long-term goals, and existing coverage before making a choice. While Singlife Simple Term can provide valuable protection, it's just one piece of a comprehensive financial plan.
Remember, the best insurance policy is the one that gives you peace of mind and fits your specific situation. If you're considering Singlife Simple Term or any other life insurance plan, it's always wise to consult with a financial advisor who can provide personalized recommendations based on your unique needs and circumstances.
Ready to explore your options further? Don't rely on just one perspective. Get expert insights tailored to your unique needs. Sign up now to receive 5 expert opinions on term life insurance. These professionals will review your specific situation 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 you and your loved ones. Don't leave your family's financial security to chance – get the expert advice you deserve today .
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