Buy low cost term insurance for your protection

Insurance advisers (agents) are trained to convince you on the value of life insurance in providing financial security to your family, in the event of premature or unexpected death, disability or critical illness.

They are right. It is important to take care of your family.

The advisers prefer to sell you a whole life or endowemnt plan, because you pay a high monthly premium. They commission is based on the amount of the premium.

It is better for you to buy term insurance to cover these risks. Although you do not get a return on the premium, the cost is less than 15% of the normal premium. You can invest the remainder of your savings in a large, well diversifed, low charge fund (also available from NTUC Income) and get an attractive return.

Visit our business center or call 62 462663 (62 INCOME.)

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Here are some comparison:

Monthly premium for $100,000 sum assured

Male
Age                         20          25        30        35
Whole life                $121.50     $140.50   $165.50   $196.50
20 yrs term               $  9.70     $ 10.70   $ 13.40   $ 18.90
20 yrs decreasing term    $  6.70     $  6.90   $  8.10   $ 11.40 

Living (critial illness)  $149.50     $176.50   $210.50   $255.50 
20 yrs living benefit     $ 15.20     $ 20.10   $ 29.90   $ 46.90

Female
Age                         20          25        30        35
Whole life                $111.50     $128.50   $150.50   $176.50
20 yrs term               $  7.00     $  8.20   $ 10.40   $ 14.00
20 yrs decreasing term    $  5.20     $  5.40   $  6.20   $  8.40 

Living (critical illness) $136.50     $159.50   $189.50   $227.50 
20 yrs living benefit     $ 14.30     $ 18.40   $ 27.60   $ 45.20