Life Insurance 101: A Quick Guide to Flexible Coverage

Insurance, a word that is commonly heard or seen almost everywhere. People are increasingly aware of the importance of life insurance and understand that it protects themselves and their families against severe financial losses in the event of death, disability or critical illness.

Yet, with the rising cost of living, many of us may need to ensure a higher insurance payout should the unfortunate happen. This is when one can consider a term insurance plan as the premiums paid are only for the purpose of providing financial coverage for specific events including death or permanent disability, unlike a whole life plan where there is typically cash value that a policyholder can use.

What is Term Life Insurance?

Term insurance is life insurance that provides policyholders with comprehensive insurance coverage and benefits for unforeseen events such as death. This payout can then be used to tide their dependents through any financial difficulties arising from the specified event, effectively giving them, as well as the policyholders peace of mind.

Term life insurance is structured differently as compared to other types of insurance. For example, unlike endowment and whole life plans which give payouts or maturity benefits upon termination or maturity, term life focuses on the coverage for specific events such as death and disability. This explains why term insurance premiums are usually much lower than other kinds of insurance products, yet still ensures that policyholders receive the right comprehensive coverage.

How to Determine Your Duration of Coverage?

Term life insurance plan is flexible and can be customised to support the different priorities throughout your life, ensuring that your financial responsibilities will not become a burden to your loved-ones.

Some examples of how you may choose different coverage terms to match your life goals:

Why FWD’s Term Life Insurance?

There are plenty of term life policies in the market and here are a few reasons why you should take a look at FWD’s Term Life Insurance:

  • The policy can be purchased online at your convenience. You can get a quote online easily, without needing a medical examination, if you are below the age of 50 and want a coverage of up to $1.5 million. Simple and no hassle.
  • FWD’s Renewable Term Life policy also allows short commitment of just one year. You have the option to renew every year until you reach 100 years old. Premiums start off low and increases as you grow older which allows you allows you to pace your premiums as your income rises.
  • You can supplement the coverage provided by FWD’s Term Life Insurance by adding optional benefits. For example, add riders to protect yourself and your loved ones from critical illnesses or total and permanent disability.
  • FWD’s term life insurance offers big coverage at affordable prices, you could effectively cover yourself for $1 million from just $1 a day.

To ensure that you and your loved ones have proper coverage, visit for more information.

Disclaimer: This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC webs-sites ( or or This advertisement has not been reviewed by the Monetary Authority of Singapore



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