FWD Term Life Insurance FWD Singapore
S$9 /month
- Monthly Premium: From SGD 9/month
- Cover Amount: Up to SGD 2M
- Term: 5–30 years
- Key Feature: 100% digital purchase
Compare Life Insurance in Singapore
Compare the top life insurance providers in Singapore — see cover, features and typical rates side by side.
Live offers
17 live offers compared from 12 providers, from S$9 /month. Updated daily.
Singlife Term Life Singlife
S$10 /month
- Monthly Premium: From SGD 10/month
- Cover Amount: Up to SGD 2M
- Term: 5–30 years
- Key Feature: Instant approval online
NTUC Income iTerm Life NTUC Income
S$12 /month
- Monthly Premium: From SGD 12/month
- Cover Amount: Up to SGD 2M
- Term: 5–40 years
- Key Feature: Direct term, no agent
Etiqa TermLife Protect Etiqa Insurance SG
S$12 /month
- Monthly Premium: From SGD 12/month
- Cover Amount: Up to SGD 1M
- Term: 10–30 years
- Key Feature: Simplified underwriting
Tokio Marine Term Life Tokio Marine
S$15 /month
- Monthly Premium: From SGD 15/month
- Cover Amount: Up to SGD 2M
- Term: 10–30 years
- Key Feature: Competitive premiums
Zurich Term Life SG Zurich Insurance SG
S$16 /month
- Monthly Premium: From SGD 16/month
- Cover Amount: Up to SGD 2M
- Term: 5–30 years
- Key Feature: Flexible payment modes
Manulife ManuTerm Manulife Singapore
S$18 /month
- Monthly Premium: From SGD 18/month
- Cover Amount: Up to SGD 2M
- Term: 10–30 years
- Key Feature: Waiver of premium option
AIA Secure Flexi Term AIA Singapore
S$20 /month
- Monthly Premium: From SGD 20/month
- Cover Amount: Up to SGD 5M
- Term: 5–30 years
- Key Feature: CI rider available
Chubb Term Life SG Chubb Insurance SG
S$20 /month
- Monthly Premium: From SGD 20/month
- Cover Amount: Up to SGD 2M
- Term: 10–30 years
- Key Feature: Multi-year rate guarantee
Great Eastern GREAT TermProtect Great Eastern Life
S$22 /month
- Monthly Premium: From SGD 22/month
- Cover Amount: Up to SGD 5M
- Term: 10–35 years
- Key Feature: Terminal illness benefit
Prudential PRUterm Elite Prudential Singapore
S$25 /month
- Monthly Premium: From SGD 25/month
- Cover Amount: Up to SGD 5M
- Term: 10–30 years
- Key Feature: Convertible to whole life
Manulife ManuProtect Term SG Manulife Singapore
S$28 /month
- Monthly Premium: From ~SGD 28/mo
- Cover Amount: SGD 100k–SGD 3m
- Term: 10–30 years
- Key Feature: eApp instant approval; often most competitive term rate; ReadyProtect convertible; ManulifeMOVE wellness
Singlife Term Life SG Singlife
S$29 /month
- Monthly Premium: From ~SGD 29/mo
- Cover Amount: SGD 100k–SGD 3m
- Term: 10–35 years
- Key Feature: Merged Aviva Singapore 2021; digital-first; Singlife app; MyLifeIncome income replacement; CI add-on
AIA Life Protector SG AIA Singapore
S$30 /month
- Monthly Premium: From ~SGD 30/mo
- Cover Amount: SGD 100k–SGD 5m
- Term: 10–40 years
- Key Feature: SG's largest life insurer; AIA Vitality — up to 15% premium discount; AIA Critical Care add-on
Pacific Prime Life Insurance Pacific Prime
S$30 /month
- Monthly Premium: From SGD 30/month
- Cover Amount: Up to SGD 3M
- Term: 10–30 years
- Key Feature: Expat-friendly policies
Great Eastern SupremeLife SG Great Eastern Life
S$31 /month
- Monthly Premium: From ~SGD 31/mo
- Cover Amount: SGD 100k–SGD 4m
- Term: 10–35 years
- Key Feature: Only Singapore-founded insurer (1908); OCBC subsidiary; SupremeEarly CI + term bundle; GREAT Digital portal
Prudential PRULife Term SG Prudential Singapore
S$32 /month
- Monthly Premium: From ~SGD 32/mo
- Cover Amount: SGD 100k–SGD 5m
- Term: 10–35 years
- Key Feature: 2nd largest SG insurer; PRUSafe term + critical illness combo; Pru Financial Advisor network; CPF investment link
What is life insurance in Singapore?
Life insurance pays a lump sum to your beneficiaries if you die, and often on total permanent disability, giving your family financial security to cover living costs, debts such as a mortgage, and children's education. In Singapore it comes in two broad forms: term insurance, which offers pure protection for a set period at low cost, and whole-life or endowment plans, which combine lifelong cover with a savings or investment element. It is a cornerstone of family financial planning alongside CPF-related coverage.
How the Singapore market works
Insurers sell term plans for defined periods, whole-life plans providing lifelong cover with a cash value, and investment-linked policies where part of the premium is invested. Cover is distributed through financial advisers, bank branches and, for simpler term plans, direct online channels including MAS-facilitated direct-purchase insurance with no commission. Singaporeans also have basic coverage through the CPF-linked Dependants' Protection Scheme, but this is modest, so most families supplement it with private term or whole-life policies sized to their needs.
Benefits
Family financial security — A lump sum helps dependants maintain their lifestyle and meet obligations after your death.
Debt and mortgage cover — Proceeds can clear a home loan and other debts so your family keeps their home.
Affordable term protection — Term plans provide high cover for a low premium during your working years.
Cash value options — Whole-life and endowment plans build a surrender value alongside lifelong protection.
How to choose
Work out how much cover your family needs, often framed as several years of income plus outstanding debts and future costs like education. Decide between term and whole-life: term maximises protection per dollar for a defined period, while whole-life offers lifelong cover and cash value at higher cost. Compare premiums, the sum assured, and whether total permanent disability and terminal-illness benefits are included. Consider low-cost direct-purchase term plans for straightforward needs, and buy early to lock in lower premiums.
Leading providers in Singapore
Major life insurers include AIA Singapore, Prudential Singapore, Great Eastern Life, Manulife Singapore, Income (NTUC Income), Singlife, FWD Singapore and Etiqa. Established insurers offer the full range of term, whole-life and investment-linked plans through advisers, while digital-first insurers such as Singlife and FWD provide simple term cover that can be bought online. Direct-purchase insurance is also available commission-free. Compare on sum assured, benefits and total premiums rather than headline cost alone.
What it costs
Term insurance is inexpensive for the protection it provides, with cover for younger, healthy adults starting from around S$9 to S$30 or more a month depending on the sum assured and term; the illustrative range shown reflects this. Whole-life and endowment plans cost considerably more because they build cash value. Premiums rise with age, sum assured, term, health and smoker status. Buying earlier locks in lower rates. Figures are indicative and depend on underwriting.
Protections and regulation
Life insurers are licensed and supervised by the Monetary Authority of Singapore (MAS) under the Insurance Act, with obligations on disclosure, suitability and fair dealing. Policies are covered by the Policy Owners' Protection Scheme administered by SDIC, which protects life-insurance policyholders up to specified limits if a licensed insurer fails. The CPF-linked Dependants' Protection Scheme provides basic coverage separately. Disputes that cannot be resolved with the insurer can be taken to the Financial Industry Disputes Resolution Centre (FIDReC).
Common questions
Term or whole-life? — Term gives maximum protection per dollar for a set period; whole-life adds lifelong cover and cash value at higher cost.
How much cover do I need? — A common guide is several years of income plus debts and future costs like your mortgage and children's education.
Isn't the CPF Dependants' Protection Scheme enough? — It provides only basic cover, so most families supplement it with private life insurance.
The cheapest Life Insurance in Singapore is S$9 /month from FWD Singapore.
Life Insurance in Singapore — FAQ
How much does life insurance cost in Singapore?
Giraffy tracks 5 life insurance products across FWD Singapore,Singlife,NTUC Income,Etiqa Insurance SG,Tokio Marine insurers in Singapore. The lowest tracked monthly premium is S$9 /month. Premiums vary significantly by age, health, cover amount, and policy type — a healthy non-smoker in their 30s can typically get a large sum of level term cover for a modest monthly premium. Compare quotes to see rates for your specific profile.
What is the difference between term life and whole-of-life insurance?
Term life insurance pays out only if you die within the policy term (e.g. 20 or 25 years) — premiums are lower and it suits protecting a mortgage or dependants during working years. Whole-of-life insurance guarantees a payout whenever you die, with higher premiums. Most people with dependants and a mortgage benefit most from term cover.
How much life insurance cover do I need?
A common starting point is 10× your annual income, or enough to pay off your mortgage plus 3–5 years of income replacement for your dependants. Consider: outstanding debts, partner's income, number of dependants, childcare costs, and funeral expenses. A financial adviser can model your specific needs.
What is the difference between level term and decreasing term life insurance?
Level term pays a fixed lump sum if you die during the term — suitable for covering a fixed obligation like family living costs. Decreasing term reduces in line with an outstanding debt (typically a repayment mortgage) — it's cheaper but pays less over time as it mirrors your reducing debt.
Can I get life insurance with a pre-existing medical condition?
Yes — most insurers will cover pre-existing conditions, but may charge a higher premium, exclude the specific condition from the payout, or add a postponement period. Using a specialist broker increases your chances of finding the right cover at the best price without unnecessary application declines.
Is the life insurance payout tax-free for my beneficiaries?
In many markets — including the UK and most GCC countries — life insurance payouts to named beneficiaries are exempt from income tax. However, the payout may form part of your estate for inheritance tax purposes. Writing your policy in trust removes it from your estate and speeds up the claims process significantly.