Singlife vs aviva

[numbers]

Anyone looked at the new insurer singlife?

https://www.singlife.com/term-life

im wondering whether their term life is better than aviva MyProtector term life for the same coverage.

for now the promotion discount seems to be attractive

 

[mSnooze]

Anyone looked at the new insurer singlife?

https://www.singlife.com/term-life

im wondering whether their term life is better than aviva MyProtector term life for the same coverage.

for now the promotion discount seems to be attractive

It depends on what coverage amount and years you are looking at.

They are a relatively new company, so there is no prior claim.

 

[numbers]

for same amount of coverage comparison lor....

e.g 1 mil vs 1mil, CI 500k, up to 65 yr old.

Only thing i scared also is this singlife new startup dont know will close down or not....

 

[soneat]

for same amount of coverage comparison lor....

e.g 1 mil vs 1mil, CI 500k, up to 65 yr old.

Only thing i scared also is this singlife new startup dont know will close down or not....

Previously Zurich Life (Big Swiss insurer) entered SG for a few years and then exited the Life Insurance business in SG.

This "Singapore Life" is a FinTech HK-listed company. If you go to the parent company website, it doesn't even say it is involved in the insurance business.

Yes with the discount it is very very attractive (esp their Term to 99 policies) but do consider if they will be in the business in the long run.

 

[mSnooze]

for same amount of coverage comparison lor....

e.g 1 mil vs 1mil, CI 500k, up to 65 yr old.

Only thing i scared also is this singlife new startup dont know will close down or not....

For that comparison, Aviva is still cheaper.

 

[numbers]

yea hor...zurich betrayed me before! then i switched to aviva

guess i will not go into this insurance too....

 

[andregoiano]

for same amount of coverage comparison lor....

e.g 1 mil vs 1mil, CI 500k, up to 65 yr old.

Only thing i scared also is this singlife new startup dont know will close down or not....

We're still here @numbers, going strong.

 

[blueG77]

https://www.sdic.org.sg/public/pp_payout

If policy is covered under SDIC.

“Individual life and voluntary group life policies (with the exception of annuities): Cap of S$500,000 for the aggregated guaranteed sum assured and S$100,000 for aggregated guaranteed surrender value per life assured per insurer.*“

So if any insurer falls, SDIC will facilitate the transfer of policies to a new insurer to take over, or take over and manage it if a new insurer can’t be found to take over the polices.