Protect your family's financial future with life insurance designed for expatriates. From affordable term coverage to permanent whole life protection and wealth-building Indexed Universal Life (IUL) plans, we help you find the right solution for your unique situation.
Why It Matters
As an expatriate, your family's financial security depends entirely on your planning. If something unexpected happens to you, would your loved ones be able to maintain their lifestyle, pay off debts, and achieve their goals?
Life insurance provides a tax-free lump sum to your beneficiaries, ensuring they're protected regardless of where they are in the world. For expats, portable coverage is crucial with policies that move with you as your career takes you to different countries.
Singapore's life insurance industry is well-regulated and offers competitive premiums. Policies purchased here can provide coverage globally and death benefits are paid tax-free to your beneficiaries, a significant advantage over many other jurisdictions.
Replace lost income so your family maintains their standard of living
Pay off mortgages, car loans, and other debts
Fund your children's education goals even if you're not there
Cover expenses to send your family back home if needed
Comparison
Pure protection for a specific period. Affordable and straightforward. You pay premiums, and if you pass away during the term, your beneficiaries receive the payout.
Lifetime coverage with a cash value component. Part of your premium goes toward protection, and part builds savings that grow over time.
Combines lifelong protection with potential high-growth investments. Grow your policy's cash value through Fixed and Index Accounts tied to major indices like S&P 500.
Pure Protection
Term Life Insurance is the most straightforward form of life insurance with pure protection without any savings or investment component. You pay a premium, and if you pass away during the policy term, your beneficiaries receive a tax-free lump sum payout. If you survive the term, the coverage simply ends.
The key advantage? Maximum coverage at minimum cost. Because there's no cash value buildup, term insurance offers the highest death benefit per premium dollar. A 35-year-old can typically get SGD 1 million in coverage for just SGD 50-100 per month, far less than whole life or IUL for the same coverage amount.
Term life is ideal during your high-responsibility years when you have a mortgage, young children, and dependents who rely on your income. It's also perfect for expats who want flexibility as you're not locked into a long-term commitment if your circumstances change.
Get maximum coverage for minimum cost, ideal for young families
Coverage till age 70 or 75, aligning with your working years
Premium stays the same throughout the policy term
No complex investment components, easy to understand
Death benefit paid worldwide, perfect for mobile expats
Lifetime Protection
Whole Life Insurance provides lifelong coverage combined with a savings component. Part of your premium pays for the death benefit, while the rest accumulates as "cash value" that grows over time with guaranteed and non-guaranteed returns. This cash value can be accessed during your lifetime.
The key advantage? Permanent protection with forced savings. Unlike term insurance that expires, whole life coverage lasts your entire life (typically till age 99 or 100). The cash value grows tax-deferred and can be used for emergencies, retirement supplementation, or passed on to beneficiaries.
Whole life is ideal for expats who want guaranteed lifetime protection and a disciplined savings vehicle. The cash value provides liquidity if you need funds for emergencies, and the death benefit ensures your family is protected no matter when you pass away.
Protected till age 99/100, never worry about coverage expiring
Accumulates savings with guaranteed + bonus returns over time
Borrow against your cash value for emergencies without surrendering
Pay for 15-25 years, covered for life with no premiums in retirement
Tax-free payout to beneficiaries for efficient wealth transfer
Advanced Planning
Indexed Universal Life (IUL) is a premium life insurance product that offers the best of both worlds: lifelong protection and the potential for significant cash value growth. Unlike traditional whole life insurance with fixed returns, IUL policies link your cash value growth to market indices like the S&P 500 or Nasdaq-100.
The key advantage? Downside protection. While your returns are tied to market performance, IUL policies typically include a "floor rate" (often 0%) that protects your cash value from market losses. If the market drops 20%, your account value stays flat rather than declining. When markets rise, you participate in the gains up to a cap rate.
IUL policies are typically denominated in USD, making them ideal for expats who want currency diversification. The flexible premium structure also suits expats whose income may vary between assignments.
Guaranteed minimum crediting rate (typically 2% p.a.) for stable growth
Linked to S&P 500 or Nasdaq-100 performance with floor protection
Policy stays active for first 5 years regardless of market performance
Additional 0.35% p.a. crediting rate from 11th policy year onwards
Skip or adjust premiums based on your financial situation
Downside Protection
Your Index Account
✓ Floor rate protects you
Your Index Account
No gains, no losses
Your Index Account
↑ Participate in gains
* Cap rates vary by insurer and market conditions. Returns are calculated point-to-point annually, excluding dividends.
Expert Advice
Rule of thumb: 10x your annual income. But also factor in debts, education costs, and how long your family needs support.
Ensure your policy remains valid if you relocate. Some Singapore policies cover you globally; others have territorial restrictions.
SGD policies benefit from currency stability. If your family is elsewhere, consider if SGD payouts work for them.
Nomination ensures fast payout. Without it, proceeds go through your estate and may face probate delays.
Premiums are based on age at entry. A 30-year-old pays significantly less than a 40-year-old for the same coverage.
Many advisors recommend a mix: high term coverage during working years, smaller whole life for permanent needs.
Common Questions
Yes! Most Singapore insurers accept expats on Employment Pass, S Pass, and even some Work Permit holders. You'll need valid work authorization and typically at least 6-12 months remaining on your pass.
Most life insurance policies remain valid globally. You can continue paying premiums and the death benefit will be paid to your beneficiaries regardless of where you or they reside. Always confirm this with your policy terms.
In Singapore, life insurance death benefits are generally tax-free. However, tax treatment may vary depending on where your beneficiaries reside. Consult a tax advisor for cross-border implications.
A common guideline is 10x annual income, but consider: outstanding debts, children's education costs, years until retirement, spouse's earning capacity, and desired legacy. A financial advisor can help calculate your specific needs.
IUL combines life insurance with investment growth potential linked to market indices like the S&P 500. It's particularly suitable for expats because: (1) policies are typically in USD providing currency diversification, (2) flexible premiums suit variable income between assignments, (3) downside protection via floor rates means your cash value won't decrease during market downturns, and (4) it serves as a wealth accumulation vehicle while providing life protection.
The floor rate (typically 0%) protects you from market losses. Even if the index drops 30%, your account value stays flat. The cap rate limits your upside (e.g., if the cap is 12% and the market gains 20%, you receive 12%). This trade-off provides growth potential with downside protection. Returns are calculated annually using a point-to-point method, excluding dividends.
Get a personalized life insurance recommendation based on your situation, coverage needs, and budget.