4 Types of Life Insurance Plans in Singapore

Term Life Insurance: Tailored Protection for Specific Periods

• It offers coverage for a designated duration, providing a lump sum payout to beneficiaries in the unfortunate event of the insured's passing within the policy term.

• It's particularly suitable for individuals with temporary financial obligations, such as mortgage payments, other debt repayments, or ensuring their dependents' educational needs are met until they achieve financial independence.

Whole Life Insurance: Lifelong Assurance with Added Benefits

• In contrast, whole life insurance ensures lifelong coverage with a guaranteed death benefit, potentially accruing cash value over time, serving as a valuable asset for supplementing retirement income or addressing unforeseen expenses.

• With fixed premiums throughout the policy's duration, it caters to individuals desiring enduring coverage and secure financial protection for their loved ones.

Endowment Plans: Securing the Future with Combined Coverage

• Endowment plans merge life insurance coverage with a savings or investment component, offering a lump sum payout upon maturity or in the event of demise, whichever occurs first.

• This option attracts those seeking comprehensive life insurance protection alongside a savings feature, ideal for achieving long-term financial objectives such as education funding, homeownership, or retirement planning.

Investment-Linked Policies (ILPs): Bridging Insurance with Investment Opportunities

• For investors seeking a dynamic approach, investment-linked policies (ILPs) integrate life insurance coverage with investment choices, allowing policyholders to allocate premiums to diverse investment funds.

• The policy's value fluctuates based on the performance of these investments, offering the potential for higher returns compared to traditional life insurance policies.

• It suits individuals comfortable with investment risks and willing to actively manage and monitor the performance of their investment-linked funds. If necessary, they will request to switch funds to meet changing financial goals.

定期寿险：量身定制的特定期限的保障

• 定期寿险提供固定期限的保障。在保单期限内，如果被保险人不幸过世，将提供一笔一次性支付的金额给受益人。

• 尤其适合有临时财务需求的人，比如偿还房贷或其他债务、确保子女完成教育并达到财务独立等。

终身寿险：终身保障与额外福利

• 相比之下，终身寿险确保终身的保障，随着时间的推移也可积累现金价值，当作补充退休收入或应对意外开支的资产。

• 由于保费在保单期间内保持不变，它适合希望获得持久的保障和确保其所爱之人得到财务保障的人士。

养老人寿保险：通过综合保障保障未来

• 养老人寿保险计划将人寿保险与储蓄或投资合并，无论是在到期时还是在死亡事件发生时，无论哪个先发生，都会提供一笔一次性赔付。

• 这种选择吸引了那些寻求全方面的人寿保障以及储蓄功能的人，非常适合实现长期的财务目标，如教育资金、购买资产或退休规划等。

投连保险（ILPs）：结合保险与投资

• 投连保险（ILPs）将人寿保险与投资相结合，允许投保人将保费分配到不同的投资基金。

• 保单的价值将根据投资的表现而波动，相较于传统的人寿保险提供了更高回报的潜力。

• 它适合于愿意承担投资风险并积极管理其投资联动基金表现的人士，必要时可要求更改投资基金以实现不同的财务目标。