Best Term Life Insurance Singapore 2026
Comparing the top term life insurance plans in Singapore — AIA, Prudential, Great Eastern, NTUC Income, and Singlife. What to look for, how premiums compare, and which suits your needs.
Why Term Life, Not Whole Life?
Term life provides pure protection at the lowest possible premium. A 30-year-old non-smoker male can get S$500,000 of coverage for ~S$400–500/year. The equivalent whole life policy costs S$2,500–4,000/year for the same coverage.
The “Buy Term, Invest the Rest” strategy — endorsed by most fee-only financial advisers in Singapore — means buying cheap term coverage and investing the savings in a low-cost diversified portfolio. Over 25 years, the invested difference typically far exceeds any whole life cash value.
Term Life Plans in Singapore (2026)
| Insurer | Product | Min Term | Max Entry | CI Rider | Notes |
|---|---|---|---|---|---|
| AIA | AIA Secure Flexi Term | 10 yrs | 70 | Yes (Accelerated CI) | Competitive premiums, convertible to whole life, multi-claim CI option |
| Prudential | PRUActive Term II | 5 yrs | 75 | Yes | Flexible term, critical illness rider, TPD until 70 |
| Great Eastern | GREAT Term | 5 yrs | 70 | Yes | Conversion privilege, wide CI coverage with rider |
| NTUC Income | TermLife Solitaire | 5 yrs | 65 | Yes | Co-op structure, competitive for non-smokers |
| Singlife | Singlife Term Life | 5 yrs | 70 | Yes | Direct purchase online option (no agent needed for basic plans) |
| Aviva/Singlife | MyProtector-Term Plan II | 5 yrs | 65 | Yes | Direct purchase available at lower face amount, no medical for basic entry |
Product features and availability may change. Always verify with the insurer or a licensed financial adviser before purchasing.
How to Choose a Term Life Plan in Singapore
- Calculate your coverage need first — use the DIME method (see calculator below) before comparing plans. Don't let an agent tell you how much you need.
- Choose your policy term — match to your longest financial obligation (usually mortgage term or until youngest child finishes university).
- Decide on CI rider — an Accelerated CI rider on a term policy is cost-effective. Standalone CI policy gives more flexibility but costs more.
- Get quotes from 3–5 insurers — premiums for the same coverage can differ by 20–40% between insurers at the same age.
- Check financial strength ratings — look for insurers with strong AM Best or S&P ratings (all major SG insurers are well-rated).
Indicative Term Life Premiums (Non-Smoker Male, S$500K, 20-year term)
| Age at Entry | Annual Premium | Monthly |
|---|---|---|
| 25 | ~S$320–400 | ~S$27–33 |
| 30 | ~S$400–520 | ~S$33–43 |
| 35 | ~S$620–800 | ~S$52–67 |
| 40 | ~S$980–1,300 | ~S$82–108 |
| 45 | ~S$1,650–2,200 | ~S$138–183 |
Indicative figures — actual premiums depend on insurer and underwriting. Females typically pay 20–30% less.