Term insurance offers coverage for a fixed period of time, for a certain number of years, for
example, 15, 20 or 25 years or up to a given age. As a result, term life insurance premiums
are lower than permanent life insurance premiums. With term life insurance, you can take
out cover for many different age groups, including over the age of 45. Here’s how term life
insurance can help based on your family or living situation:

For Couples,

The coming years are likely to be your most unpredictable ones as you move in with your
partner and make plans to build up your wealth. Term life insurance can help keep your
household plans on track in case you pass away or suffer a terminal illness during this time.
You may also consider a term life insurance policy as a top-up for any existing coverage that
you may have, mainly to reflect any additional needs of your partner.

For Young Families

Put a safety net in place for your family, especially during your children’s critical early years.
A fixed-year term life insurance policy could cover you for most of your mortgage repayment
period. You may also consider a term life insurance policy to top up any existing coverage
that you may have, mainly to reflect any additional needs of your partner.
For Established Families.
With a grown-up family, term life insurance can also help take care of their evolving needs. If
you were no longer around, they wouldn’t be impacted by final expenses such as funeral
costs or debts if you pass away during the term of the policy.

For Seniors.

You’ve worked hard for decades and deserve to live without financial worries. A term life
policy can cover you during your early retirement years, when you no longer have an
income to rely on, helping your family cover funeral costs, outstanding debt or
relocation/downsizing if you passed away during that time. Or, in case you become
terminally ill, you can use the money to pay for palliative care and private health care.