Singlife Elite Term II

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Singlife Elite Term II

4.0

/5

Type

Term Life Insurance (level premium)

Covers

Death and Terminal Illness (TI)

Optional add-on Riders

Total & Permanent Disability (TPD), Critical Illness (CI), Early CI, Multipay CI and CI premium waiver

Available Policy Term

5-year or 10-year renewable or up till age 99

Overview

One of the personal term plans with the best value

Premium is level (fixed and does not increase with age) throughout the coverage period

Highly customisable coverage duration (up to age 99), for main plan and riders

For Whom

Suitable For

Standard (healthy) lives, children, adults, people looking to accumulate wealth

Not Suitable For

People with pre-existing conditions, retirees

For What Purpose?

Income replacement for dependants or self in case of:

Death/TPD/TI

Lump sum payout to your dependents to support their living expenses in case of your death/TPD.

Early or late-stage CI (rider)

Lump sum payout to you to support ongoing living expenses during recuperation period when diagnosed with an early and/or late-stage CI.

What are the Pros & Cons?

Pros

Good value with perpetual premium discounts for the entire policy duration on sum assured amounts exceeding $500,000, $1 million, and $2 million

Has the option to increase your sum assured without health underwriting when key life-stage events occur such as marriage or having a newborn

(Limited Pay) Flexible option to pay limited premiums only for 5 or 10 years and get covered till age 65

Cons

The plan's coverage duration cannot be extended once the policy term begins, except for plans on a 5 or 10-year renewable basis, subject to premium increase upon renewal

What's the Cost?

Non-smoker, standard premium for $1,000,000 sum assured for Death/TI/TPD and $500,000 for late-stage CI, covering till age 65

Premiums for SingLife Elite Term II (Regular)

Age	Annual Premium^ (Male)	Annual Premium^ (Female)
30	$1,346.00	$1,331.60
40	$2,480.35	$2,369.65
50	$4,831.55	$3,818.65

^ The premiums include a 30% discount on the main plan and a 10% discount on the CI rider, both of which apply for the entire coverage period.

Things to Note

Coverage and premiums for death, TPD, and TI are fixed and guaranteed throughout the policy term

CI riders have fixed but non-guaranteed premiums, and the insurer may adjust future premiums for CI coverage

Written by: Anton Tan, CFP®

Last updated: 21 November, 2024

Disclaimer: This publication has not been reviewed by the Monetary Authority of Singapore. The information contained herein does not have any regard to the specific investment objective(s), financial situation or particular needs of any individual. Buying insurance is a long-term commitment and should be based on your unique needs and the suitability of the products. It is advisable to seek advice from a financial adviser to assess your needs and guide you on the features and details of the products before making any financial decisions. The coverage, benefits, premiums, and terms of insurance policies may vary depending on individual circumstances and insurance providers. Individuals are encouraged to review their own insurance needs and policies and seek advice tailored to their specific situation. While every reasonable care is taken to ensure the accuracy of the information provided, no responsibility can be accepted for any loss or inconvenience caused by any error or omission.

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