Did You Know These Fabulous 4 Benefits Of Term Life Insurance?

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Did You Know These Fabulous 4 Benefits Of Term
Life Insurance?
Term life insurance is a form of life insurance
that covers you against death, disability, and
terminal illness. The coverage of such a plan
lasts for a fixed period of time hence the name
term insurance. As such, you can choose a
coverage tenure that is as short as 5 years or as
long as 82 years, depending on your needs. Now,
as a Singaporean citizen or Permanent Resident,
you already enjoy a basic level of life insurance
through CPF. However, this coverage is limited
and you might want more for your family. After
all, not everyones expenses and responsibilities
are the same. Term insurance could be the answer
to the customised coverage you seek. A good plan
will cover you against lifes unfortunate events
and also provide you with the following benefits
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1. Affordable premiums

• Term life insurance plans are known to be much
  more affordable than other types of life
  insurance. In fact, the average 30-year old
  Singaporean can avail a term plan that offers
  coverage of up to 200,000 at a monthly premium
  of just 36 per month! Isnt that amazing!

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2. Flexible premium payment period

• One of the best features of term plans is that
  your premium payment is highly flexible. Most
  insurance companies in Singapore allow you to
  choose a premium period that lasts anywhere
  between 5 to 82 years. Thus, you get life
  insurance coverage that suits your life stage and
  protection needs

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3. Sum assured increases with age

• As you grow older, your coverage needs also tend
  to increase. Keeping this in mind, the some term
  insurance plans in Singapore will provide you
  with an incremental sum assured benefit. This
  feature ensures that your sum assured stays at
  par with your coverage needs. You can choose to
  increase your basic sum insured at an incremental
  rate ranging from 1 to 10 percent per year. Not
  only that, you should also have the option to
  increase the death benefit by up to two times its
  original amounts. This ensures that your term
  insurance keeps up with your growing income
  financial commitments.

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4. Availability of supplementary benefits

• Best of all, term life insurance plans can be
  further customised  with riders that offer
  greater coverage over the base plan at an
  affordable price. You can add a rider that covers
  you for critical illnesses and early/intermediate
  stage medical conditions. Or, you can opt in for
  a rider that waives your premiums upon diagnosis
  of certain medical conditions as listed by the
  insurer in their policy.
• Now, you can enjoy coverage minus any worries.
  Make sure to ask your insurance provider for a
  detailed list and explanation of all the
  supplementary benefits that you may opt in for.
• As we can see, a term life insurance plan indeed
  holds many benefits for you. Do speak to a
  financial consultant today for guidance on
  selecting the right plan for your needs.

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• you also find more interesting details on the
  site below
• Website https//www.prudential.com.sg/
• Facebook https//www.facebook.com/PrudentialSing
  apore/
• LinkedIn https//www.linkedin.com/company/pruden
  tial-assurance-company-singapore/
• Instagram https//www.instagram.com/prudentialsi
  ngapore/?hlen
• Youtube
• https//www.youtube.com/channel/UCWs_Qg2Rahok4kOR
  ir5w4eQ
• We hope this has been helpful, good luck and
  take care!