Benchmark premium rates for Term Insurance

Hi Mr. Tan,

I read with great interest your example about the family income policy. You quoted the premium rate for a male at age 30. I am now 35 years old. What is the premium that I have to pay?

REPLY

You can get the benchmark premium rates for various ages, and period of insurance, and for the three types of term insurance plans, from this FAQ:
http://www.tankinlian.com/faq/benchmark.html

These benchmarks are the premium rates that I consider to be good value for consumers, based on the expected claims and reasonable expenses and profit margin. They are lower than the term insurance rates now charged in the market.

I believe that, in the near future, some life insurance companies will offer premium rates that are lower than the benchmarks to capture this big market.