Premium rates for Term Insurance

Dear Mr. Tan,

My insurance agents are not keen to sell Term Insurance. They discourage me from buying term insurance. Their premium rates are not as attractive as those indicated in your FAQ.
Where can I get good term insurance rates?

REPLY

You have to call the insurance company directly.

According to a newspaper survey about a year ago, NTUC Income offers the most attractive premium rates. I am not sure if other insurance companies have since come forward with attractive rates. Perhaps you can try Aviva and AXA as well.

I have set out some indicative premium rates in the FAQ. They are not the actual rates that are being charged by any specific insurance company now. I have calculated them, based on the mortality experience in Singapore and with allowance for expenses.

If you find any insurance company that offers premium rates around the level indicated in my FAQ, you can accept them. Even if the premium rates are slightly higher, you will find that Term Insurance is quite affordable.

http://www.tankinlian.com/faq/term.html