- Boost your coverage up to 5x, till age 70 or 80
- Optional early critical illness coverage
Safeguarding your family with life insurance
Building strong foundations for your family’s financial protection can help you prepare for uncertainties such as death, critical illness, accidents or total and permanent disability.
Protect the future you're building for your family
The people you love may depend on you for more than today's expenses. Life insurance can help provide financial protection for your family if the unexpected happens, helping them manage everyday expenses, financial commitments and important future goals.
Having the right protection in place can give you greater confidence that your family's financial needs are considered, even if you are no longer able to provide for them.
What types of life insurance can protect my family?
Different types of life insurance provide different forms and periods of protection. When considering family insurance plans, it’s important to understand the different types of life insurance available. Choose a plan that suits your needs and the length of coverage you require.
Term life insurance
Term life insurance provides protection for a specified period. It can be considered when you need coverage during a particular stage of life, such as while raising children, repaying a home loan or supporting other financial commitments.
Depending on the policy, benefits may be payable upon events such as death, terminal illness or total and permanent disability.
Whole life insurance
Whole life insurance generally provides lifelong protection, subject to the policy terms. Depending on the plan, it may provide coverage for events such as death, terminal illness or total and permanent disability, and may also build cash value over time.
It can be considered as part of your longer-term protection and financial planning needs.
Investment-linked insurance
Investment-linked insurance combines insurance protection with investment. Part of your premiums is used to purchase units in investment-linked funds, and the value of the investment component will depend on the performance of the underlying funds.
It may be considered by individuals looking for both insurance protection and investment exposure, and who understand and are comfortable with the associated investment risks.
No single type of life insurance is right for everyone. Understanding the differences can help you consider how different forms of protection may fit your family's circumstances and financial goals.
You can also explore Manulife's life insurance solutions to learn more about the protection options available.
How much insurance coverage does my family need?
The amount of life insurance coverage you need depends on your family’s financial circumstances and future needs. Consider factors such as:
- Income replacement needs – Consider how much financial support your family may need to maintain their lifestyle if you are no longer able to provide for them.
- Dependants: Think about who relies on you financially, such as your children, spouse or parents, and how long they may need that support.
- Existing savings and insurance coverage – Review the savings, investments and insurance coverage you already have to understand what resources would be available to your family.
- Outstanding financial commitments – Consider your home loan, other debts and financial obligations that your family may need to manage.
- Future financial goals – Consider plans such as your children’s education or other major expenses.
- Everyday living expenses: Consider the ongoing household expenses your family would need to meet.
Reviewing these factors can help you determine a level of coverage that is appropriate for your circumstances and financial priorities.
Explore solutions to protect you and your family financially
- Affordable and customisable coverage up to age 85
- Convert to whole life coverage with no health check-up
- Insurance for mortgage loan protection
- Wide range of interest rate options and policy terms
Frequently asked questions
Employer-provided life insurance can form part of your overall financial protection, but the benefits and level of coverage will depend on your employer's plan.
Consider how your employer-provided coverage compares with your family's financial needs, existing savings, financial commitments and future goals. It is also worth considering how your protection may be affected if your employment changes.
Your protection needs can change as your life changes. Getting married, having children, buying a home or taking on new financial commitments may increase the number of people or responsibilities that depend on your income.
These milestones can be useful opportunities to review whether your existing coverage continues to reflect your family's needs.
Start by reviewing who depends on you financially, your household expenses, outstanding debts, future financial goals and the insurance protection you already have.
Consider whether your existing coverage would still provide sufficient financial support if your circumstances changed. Regular reviews can help you identify potential gaps as your family, finances and priorities evolve.
The information on this page is for general informational purposes only and does not constitute financial advice.
We recommend that you seek advice from a Manulife Financial Consultant or our Appointed Distributors before making a commitment to purchase a policy.
CPF retirement savings are intended to support income needs during retirement. When considering retirement planning solutions, customers should assess their CPF savings, personal savings, investments and retirement income needs holistically. Information relating to CPF is provided for general informational purposes only and may be subject to change. Please refer to the CPF Board website for the latest information.