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Why choose to get coverage via a term plan? Term insurance provide the best cost to coverage ratio, at the expense of not generating a cash surrender value for your future years. As such, it is an excellent option for those that require coverage, yet facing budget issues for financial planning.
Life situations may also have changed, resulting in the need for increased coverage due to additional financial commitments for yourself or your dependents.
While generally not meant for lifelong protection, term plans can be a part of your financial portfolio to replace the financial losses to your income due to an unforeseen life condition.
Read More: How Pre-exisiting medical conditions can affect your insurance application
Related article: Term Insurance vs Whole Life (Financial analysis and benefits comparison)
How do we come up with this list? Across all the insurance companies in Singapore, each term insurance are structured with their own product benefits and unique selling point.
The following criterias were considered in our term insurance review:
Competitiveness of insurance premium Available options to customise and enhance coverage Scope of coverage for Critical Illness Scope of coverage for Early Critical Illness Terms and conditions to qualify for an insurance claim Product features with outstanding benefits to the policyholder
Note: This review of term insurance is not ranked in any order of priorities or preferences.
Find out the list of term life insurance avaliable in Singapore and get your FREE comparison quote today! Let us find the best deal based on your needs and budget!
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