Worried about high insurance costs to protect the life you’re building?
Worried about high insurance costs to protect the life you’re building?
There is a plan for that.
Term Life Insurance
Support your loved ones in times of need with high coverage from as low as $0.09/day1
Protect the life you’ve built
The financial burden you leave behind can be just as devastating as the loss of a loved one. You wouldn’t want your family to be left with debts or worries about living expenses, would you?
With Term Life Insurance, we have made protection easy to apply, affordable and flexible based on your needs. Starting from $0.09/day1, safeguard your loans, mortgage, yourself, and even your loved ones.
Here’s why you need Term Life Insurance regardless of your life stages
Ken is a 25-year old aspiring graphic designer. He just started working and would like to safeguard his aging parents.
He buys a 5-year renewable DIRECT- Etiqa term life II plan with a sum insured of S$200,000. He also adds on S$200,000 critical illness coverage. He pays S$0.41* per day.
In the event, if Ken had major cancer, he will receive S$200,000 from his DIRECT-Etiqa CI rider II to support his recovery. His basic policy and rider will end upon this claim.
If a claim was not made for Ken’s major cancer, and should he become terminally ill or passed away, he will receive a lump sum payout from his DIRECT- Etiqa term life. This lump sum of money from the payout can help support his aging parents’ daily living expenses.
At the age of 30, Ken marries Jaclyn. They purchase a new flat. Having a new dependent and mortgage, Ken looks for an affordable insurance plan with high coverage.
He signs up for a 5-year renewable ePROTECT term life plan with a sum insured of S$1 million, equivalent to his mortgage loan.
With S$1.02 per day, he can ensure that Jaclyn can pay off their mortgage loan of $800,000 if any unforeseen circumstances happen to him. The remaining amount can be used to pay for the living expenses of his loved ones. In case of a terminal illness, he will also have financial support for medical and living expenses.
At the end of 5 years, Ken can renew his policy without medical underwriting if no claims was made. His new premiums will be S$1.21* per day.
At the age of 33, Ken and Jaclyn are expecting their first child. With more expenses from having a new baby, he is looking to increase his coverage with an affordable plan to protect his family.
He decides to get a 20-year fixed ePROTECT term life plan and pays S$1.46* per day for a sum insured of S$1 million.
Unfortunately, at the age of 50, Ken becomes terminally ill. The payout can be used to pay off outstanding debts and see the family through the cost of raising their child. This will help the family cope with the financial burden while Ken focuses on his recovery.
Here’s why you need Term Life Insurance
regardless of your life stages
In the event, if Ken had major cancer, he will receive S$200,000 from his DIRECT-Etiqa CI rider II to support his recovery. His basic policy and rider will end upon this claim. If a claim was not made for Ken’s major cancer, and should he become terminally ill or passed away, he will receive a lump sum payout from his DIRECT- Etiqa term life II. This lump sum of money from the payout can help support his aging parents’ daily living expenses.
With S$1.02* per day, he can ensure that Jaclyn can pay off their mortgage loan of S$800,000 if any unforeseen circumstances happen to him. The remaining amount can be used to pay for the living expenses of his loved ones. In case of a terminal illness, he will also have financial support for medical and living expenses. At the end of 5 years, Ken can renew his policy without medical underwriting if no claims was made. His new premiums will be S$1.21* per day.
Unfortunately, at the age of 50, Ken becomes terminally ill. The payout can be used to pay off outstanding debts and see the family through the cost of raising their child. This will help the family cope with the financial burden while Ken focuses on his recovery.
*The above scenarios are illustrated based on non-smoker rate.
Start securing your life
Provide for your family during hard times
Get a lump sum payout in an event of death. Your family will not be left with debts or worries about living expenses. #touchwood
Get full control over coverage and premium
Select your preferred sum insured from S$50,000 to S$2 million. You can also choose your policy term from 5 years renewable, 20 years or up to age 65.
Deal with unexpected expenses
Receive a lump sum payout if you’re diagnosed with terminal illness or total & permanent disability. Lesser worries on your family’s future finances.
Protection against 30 Critical Illness2
With our optional add-on cover, you and your family will be able to better cope with medical expenses and living costs if you suffer from a specified medical condition.
Choose a plan based on your needs
Designed to suit your needs. No medical examination required4, simple and fuss-free.
DIRECT - Etiqa term life II
Essential coverage with low premiums
S$50,000 – S$400,000
ePROTECT term life
Higher coverage with affordable premiums
S$401,000 – S$2 million
Coverage
Death, Terminal illness or Total and Permanent disability
Enhance your cover (optional)
Etiqa CI rider II - Protection against 30 critical illness, up to $400,000 sum insured.
(Available for DIRECT – Etiqa term life II plan only)
1
5-year renewable
Your premium changes every 5 years, allowing you to start your protection with a lower premium. Renewal is guaranteed till you are age 80.
2
20-year fixed term
Your premium remains the same over the 20 years. You cannot renew your plan after 20 years.
3
Covers till age 65
Your premium remains the same till you are age 65, allowing you to start your protection with a lower premium
1 Based on S$50,000 cover (5-year renewable term plan) for 19 year-old non-smoking female.
2 Available for DIRECT – Etiqa term life II
3 Based on LIA recommendation for an economically active adult from the Protection Gap Study 2017
4 Refer to FAQ below for more information
More complimentary cover, less stress. With Financial Assistance Benefits for COVID-19 and side effects of the vaccine, we hope this gives you better peace of mind. Read more here
Unsure of how much life insurance you need?
Simply answer a few questions on LIA life insurance calculator to better understand your financial protection needs.
The LIA Protection Gap Study3 shows that an average adult needs a life protection that’s 9 times of your annual income.
Don’t be shy, we’re here to help
Have an enquiry, not sure what’s best for your needs? Speak with us.
Get In Touch
Make an appointment for a callback or feel free to reach us at +65 6887 8777.
Frequently Asked Questions
With DIRECT – Etiqa term life II and ePROTECT term life, you can get up to S$1.5 million of coverage without the need for a medical check for customers up to age 40 and in the pink of health. If a medical check is required, we will bear the cost. For customers above age 55, the allowable limit for purchase without medical check-up is S$100,000.
Yes, if you fulfil the following requirements:
• You are a Singapore resident with valid NRIC or FIN.
• You are between the age of 19 and 65 years old.
• You are a tax resident of Singapore.
• You have resided in Singapore for 182 consecutive days on day of insurance purchase.
• You are proficient in spoken or written English.
• You are not an undischarged bankrupt.
• You are not purchasing this plan to replace any existing policy with Etiqa or other insurer(s).
To file for a claim, written notice must be given to us within 3 months of the occurrence of the claim event. The claimant must supply at his/her own expense, all certificates, information and evidence required by us for assessment of the claim. We reserve the rights to conduct a post-mortem and we will bear the expenses.
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Important notes:
Age means the age at next birthday.
This policy is underwritten by Etiqa Insurance Pte. Ltd. This content is for reference only and is not a contract of insurance. Full details of the policy terms and conditions can be found in the policy contract. The information contained on this product advertisement is intended to be valid in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg ). As term life insurance has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely. Information is correct as of 1 October 2024. This advertisement has not been reviewed by the Monetary Authority of Singapore.
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