Someone email me asking me to quote some wholelife insurance policies. I decided to post the quotations in my blog since I already have the quote generated for that person.  Here is the table I generated. For the past few months, there have been a number of changes to the premiums partly due to competition and partly due to changes to taxation rules on life fund. Premium are accurate as on now but always subjected to changes without notice.

The quotation is based on female, next age 27, non-smoker. The coverage is death, TPD (before age 65) and critical illness.

A few things to note:

1.  Only premium for Aviva's IdealLiving21 is guaranteed. In Singapore, premium for whole life policy providing cover for critical illness is not guaranteed and could rise in future. The exception is Aviva's IdealLiving
2. NTUC Income's VivoLife protection for the first 15 years is 1.25x of the sum assured; death due to accidental reason is 3x of the sum assured; unemployment waiver benefit as stated in the benefit illustration
3. UOB Life's Maxi Life V (With CI Shield) protection for the first 15 years is 1.30x of the sum asssured; death due to accidental reason is 3.5x of the sum assured.
4. For all policies quoted above, upon diagnosis of critical illness, the sum assured plus any bonuses will be paid out and thereafter the policy cease and there is no further coverage.

I hope through these few data points, this small blog entry can promote a little bit of transparency for consumers. I wrote this blog entry after reading a frustrated IFA blog entry here: http://akhiat.blogspot.com/2008/05/another-agent-for-his-own-interest.html

In my personal opinioin, TM Asia Life Legacy is valued for money.