If you wish to buy term insurance, you have to call the insurance company directly. You can try NTUC Income, Aviva and AXA.
Give them your age, the sum insured and the number of years of coverage. I suggest that you take a 20 or 30 year term. Ask for a quote on level and decreasing term.
Compare the premium rates. Ask the insurance company to explain their coverage. Ask for a FAQ.
You can also qet a quote from their website.
It is all right to approach an adviser. But, you have to be alert that the adviser does not steer you to take an expensive policy (for which they can earn a higher commission).
As the adviser does not earn much from selling the term insurance policy, you should try to handle the transaction over the telephone.
Axa has a wide range of term plans to meet every need. They are affordable and competitive .
ReplyDeleteThey specialise in term plans because they believe that it is the only way that Singaporeans can be adequately covered at low premium.
Traditional whole life plans compromise coverage because they are expensive. The commission to insurance agents is high and that is why they only push these products.
Terms used to be seen and used for temporary coverage.It is different now. They are used to address all insurance needs. The term can be whole life term too. Not only that they can also be bought in blocks of term with guaranteed
renewability.It is flexible and can be changed and adjusted to meet changes in circumstances.
Therefore today it makes a lot of financial sense to buy term and invest the rest to get the best results and returns.