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Term Life

Introduction

In today's uncertain world, securing your family's financial future is paramount. Term life insurance offers an affordable way to provide substantial protection for your loved ones. Enter TIQ Essential Term Life Cover, a flexible and comprehensive solution designed to offer peace of mind at an accessible price point. With coverage starting from S$401,000 and premiums as low as S$0.38 per day, this product aims to make substantial life insurance protection attainable for everyone. Let's explore how TIQ Essential Term Life Cover can safeguard your family's financial well-being without breaking the bank.

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Coverage and Benefits

TIQ Essential Term Life Cover offers a range of benefits to ensure comprehensive protection for you and your loved ones. From substantial death benefits to additional riders for enhanced coverage, this product is designed to provide financial security in various life scenarios. Let's delve into the key features that make this term life insurance plan stand out.

Substantial Death Benefit

Receive coverage starting from S$401,000 in the event of death or terminal illness during the policy term. This significant payout can help secure your family's financial future in your absence.

No Cash Value

As this is a pure protection product, there is no cash value if the policy ends or is terminated prematurely. This allows for lower premiums, making substantial coverage more affordable.

No Bonuses or Dividends

TIQ Essential Term Life Cover focuses on providing maximum protection at minimal cost. As such, it does not offer non-guaranteed bonuses or dividends.

Terminal Illness Coverage

The policy provides a payout in the event of terminal illness, offering financial support during challenging times. This benefit is included within the death benefit amount.

Total and Permanent Disability

With the Extra disability care rider, you can accelerate the payout of the death benefit if total and permanent disability is sustained on or before reaching the policy anniversary when the life insured attains age 86.

Critical Illness Protection

Optional riders like the Advanced CI rider and Early CI rider offer coverage against various stages of critical illnesses, providing financial support when you need it most.

Policy Terms and Flexibility

TIQ Essential Term Life Cover offers flexibility in policy terms and features to accommodate various life stages and financial situations. From customizable policy durations to guaranteed renewability and convertibility options, this product is designed to adapt to your changing needs over time.

Flexible Entry Ages

While specific entry age ranges are not provided in the given information, the product appears to cater to a wide range of ages, from young children to adults.

Customizable Policy Terms

Choose from multiple policy term options: 5 years (renewable), 10 years to age 86 (in one-year intervals), or coverage up to age 100. This flexibility allows you to align your coverage with your specific financial planning needs.

Guaranteed Renewability

For the 5-year renewable term option, enjoy the benefit of renewing your policy up to age 90 without providing proof of good health. This ensures continuous coverage even as your health status may change over time.

Convertibility Option

Take advantage of the guaranteed convertibility benefit, allowing you to convert your policy to any Singapore dollar-denominated new endowment or whole life policy available at the point of conversion, without proof of good health.

Adjustable Coverage

Enjoy the option to increase your sum insured without proof of good health upon key life events such as graduation, marriage, property purchase, or the birth of a child. This feature ensures your coverage grows with your life milestones.

Premium Structure

While specific premium guarantee information is not provided, the product offers affordable premiums starting from as low as S$0.38 per day for substantial coverage.

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Optional Riders

TIQ Essential Term Life Cover offers a range of optional riders to enhance your protection and tailor the policy to your specific needs. These riders provide additional coverage for critical illnesses and disabilities, ensuring comprehensive financial protection against various life events.

Advanced CI Rider

This rider covers 36 severe-stage critical illnesses, accelerating the payout of the death benefit from the basic policy. It provides crucial financial support during severe health crises.

Early CI Rider

Offering coverage for 35 early or intermediate stages and 35 severe stages of critical illnesses, this rider accelerates the death benefit payout. It also includes a premium waiver upon diagnosis of early or intermediate-stage critical illnesses.

Extra Disability Care

This rider accelerates the payout of the death benefit if total and permanent disability is sustained on or before the policy anniversary when the life insured reaches age 86. It provides essential financial support in case of disability.

Extra Secure Waiver

This benefit waives future premiums up to the policy anniversary before the life insured turns 86 or the end of the premium payment term, whichever is earlier, upon diagnosis of any of the 37 severe-stage critical illnesses.

Claims and Customer Service

While specific claims and customer service information for TIQ Essential Term Life Cover is not provided in the given details, it's important for policyholders to have access to efficient support. Typically, insurance companies offer multiple channels for filing claims and seeking assistance, such as online portals, phone hotlines, and email support. Policyholders should refer to their policy documents or the insurer's official website for precise instructions on how to file claims and contact customer service. It's advisable to keep policy documents easily accessible and inform beneficiaries about the policy and claim procedures to ensure smooth processing in times of need.

Conclusion

TIQ Essential Term Life Cover offers a compelling solution for individuals seeking substantial life insurance protection at an affordable cost. This product is particularly well-suited for young families looking to secure their financial future, professionals wanting to supplement their existing coverage, and individuals seeking flexible, long-term protection. With its customizable terms, optional riders, and adaptable features, it caters to a wide range of insurance needs and life stages.
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