Term Insurance
Secure a term insurance policy today to safeguard your mortgage, spouse, and children, or to establish a lasting legacy or inheritance for your beneficiaries up to the age of 99.
What is Term Insurance?
Term insurance is a form of life insurance that furnishes coverage for a predetermined period, chosen by clients, at a fixed premium rate throughout the policy's duration.
What's the necessity of term insurance?
Home Loan Coverage
For homeowners carrying a mortgage, term insurance serves as a safeguard for both them and their families in case of the homeowners' death or permanent disability. If a homeowner were to pass away with an outstanding mortgage, it could pose a significant financial strain on their family if they lack the means to repay it. Failure to keep up with mortgage payments could lead to the repossession of their home by the banks or an early foreclosure, leaving them without a place to live.
Spouse and Offspring
In cases where the primary earner in a household has a partner who devotes their time either fully or partially to homemaking duties while their children attend school, a term life insurance policy serves as a safeguard against potential financial burdens, sustaining the family's future expenses, livelihoods, and educational needs for dependents should the primary earner pass away. Failure to secure adequate life insurance coverage may expose the family to excessive consumer debt and expenses, hindering their children's educational opportunities due to financial constraints that could prevent them from affording school fees.
Heritage and Bequests for Heirs
For families aspiring to alter the trajectory of their children's and future beneficiaries' lives by endowing them with a substantial inheritance from insurance proceeds, a term life insurance plan extending up to the age of 99 presents a feasible solution. Given Singapore's global competitiveness across various sectors such as education, finance, business, healthcare, and pharmaceuticals, families seeking to provide their offspring and descendants with an advantageous start in attaining success may find this to be a practical option worth considering.
Advantages and Perks
- Get a one-time payment upon demise, complete permanent disability (TPD), and terminal sickness
- Safeguard your residence, loved ones, and their prospective inheritance
- Lessen the monetary responsibilities of your dear ones
- Enrich your protection with a selection of add-ons, such as critical illness coverage
