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Whole Life

Basic Features of a Whole Life Insurance

Life Assured Entry Age

As early as 0 year old till as late as 70 ANB, but normally up to 60-65ANB 


Note: Vary among Insurers

p.s.: ANB: Age Next Birthday

Premium Term

Normally come with 5/10/15/20/25 years of Premium Term and some insurers may ever allow longer premium term up to Age 65 - 99


Note: Vary among Insurers

Basic Benefit

Death / Terminal Illness (TI) / Total permanent disability (TPD) 


Note: Insurers will include age limit on the above 

Special Features

Common optional features include:

  • Additional Cover on Death Benefit

  • Multiplier

  • Unemployment Benefit

  • Retirement Benefit

  • Retrenchment Benefit

  • Financial Flexibility

  • Options of adding CI, ECI and premium waiver riders

Running Group

Call (+65)86081661 for latest Promotions

Flexibility

​Budget
Illustrations

Alex is looking for a Whole Life insurance with :

​

$100K Sum Assured, inclusive of Critical Illness (or Early CI) rider and preferable to Limited Pay

​

  • Male

  • Age 35

  • Non-Smoker

​

Premium Term
Annual Premium
Early Stage Illness / Critical Illness
Multiplier
Immediate Gtd Protection Value
Total Protection Value @ age 70
Gtd Surrender Value @ age 70
Total Surrender benefits @ age 70
Yield@75
Detail on Premium
15 years payment term (Expiry @ age 70)
$ 6,100 (Approx)
Early Critical Illness
3X
$ 300,000
$352,640
$57,700
$94,728
2.50%
Higher end @ approx $6,500 - $8,300 with longer cut off age
15 years payment term (Expiry @ age 70)
$ 4,600 (Approx)
Critical Illness
3X
$ 300,000
$352,640
$57,700
$94,728
2.50%
Higher end @ approx $5,800 - $6,800 with longer cut off age
25 years payment term (Expiry @ age 70)
$ 4,300 (Approx)
Early Critical Illness
3X
$ 300,000
$360,651
$57,700
$100,466
2.95%
Higher end @ approx $5,300 - $5,900 with longer cut off age
25 years payment term (Expiry @ age 70)
$ 3,300 (Approx)
Critical Illness
3X
$ 300,000
$360,651
$57,700
$360,651
2.50%
Higher end @ approx $3,900 - $4,900 with longer cut off age
You can see premium difference between adding Critical Illness (CI) and adding Early Critical Illness (ECI). Though, ECI will cost policyholders higher premium since insurers start to give the payout at the early stages of major illnesses, the policy owner can be better covered with early payment of medical fees so that he/she can focus on recovery without worrying about expenses.

In fact, the above example has included the Multiplier to increase the whole life plan's coverage by 3 times (this factor can be higher), and by adding the multiplier that lasts up to a certain age, will also load onto your total annual premiums paid.
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