Types of Life Insurance

  • Term Insurance

    Term insurance provides you with insurance protection for only a fixed period of time. It pays the sum assured only upon the death of the insured or if the insured becomes totally and permanently disabled (if this benefit is provided) during this period. Read more..

  • Whole Life Insurance

    Whole life insurance provides life-long protection for your dependants. It pays out the death benefit upon the death of the insured. Read more..

  • Direct Purchase Insurance (DPI)

    Direct Purchase Insurance (DPI) is a class of simple term and whole life insurance products that you can buy directly from the customer service centres or websites (if available) of life insurance companies. As DPI are sold without financial advice, no commission is charged and you pay lower premiums than comparable life insurance products.

  • Endowment Insurance

    Endowment policies are often marketed to help you meet a financial goal like paying for your children’s education, or to build up savings over a fixed policy term. But unlike savings deposits, the guaranteed cash values you get back may be less than the sum of the premiums paid. Read more..

  • Investment-Linked Insurance Policies

    Investment-linked insurance policies (ILPs) have both life insurance and investment components. Your premiums are used to pay for units in investment–linked fund(s) of your choice. Some of the units you buy are then sold to pay for insurance and other charges, while the rest remain invested. Read more..

  • Annuities

    An annuity is a type of insurance policy which guarantees fixed payments at regular intervals (usually monthly), for as long as the policyholder lives or for a fixed period of time. Read more..

  • Participating Policies

    Participating policies are insurance policies which provide both guaranteed and non-guaranteed benefits. The sum assured is a guaranteed benefit and is paid when the policy matures or upon the death of the insured. Participating policyholders are allowed to participate or share in the profits of the insurance company’s participating fund. This is paid in the form of bonuses or cash dividends. Bonuses and cash dividends are non-guaranteed benefits. Read more..