AIA Life Insurance Quotation

Life insurance provides you or your beneficiaries with a one-time payout if your death or become permanently disabled (e.g. if you cannot work due to an illness or injury).

If you purchase term life insurance or a combination of term life and whole life insurance, you can pay a lower premium. Buying life insurance at a young age is also a good way to get a lower premium.

The older you are, the higher the premiums and the greater the risk that you will develop a health condition. You can learn more about saving for life insurance here.

Term life insurance, whole life insurance, and investment-linked plans are the most common types of life insurance.

Term life insurance is the lowest sort of life insurance, although your rates rise as you become older. It protects you for a specified period.

Whole life insurance. Covers you for the rest of your life (usually until age 80 or 100, but you can choose a shorter term – 5 years, 10 years, 15 years, and 20 years). The rates do not rise with age during the term period. If you wish to surrender earlier, some policy has the surrender value.

Investment-linked. It is also more expensive than term life insurance and provides lifelong coverage, but your rates do not grow with age. There is a monetary value, but it is dependent on investment performance, therefore your profits are not guaranteed but it helps to grow your investment funds.