Protect your family with ePROTECT Term Life Insurance by Tiq - - Singapore Wacky Magazine

Protect your family with ePROTECT Term Life Insurance by Tiq

Life is full of uncertainties.

A year ago, we can head out without a mask on. Travelling around the world or having a huge gathering was the norm. Today, the norms of yesterday have become a faded memory. Instead, we are staying home more often and turning online for our education, groceries, and shopping.

At this junction, one thing is certain. IT's good to be prepared for changes regardless of the situation to move forward. One of the things that we may have taken for granted is protecting our family's future. 

While we may be prepared for current household expenses based on our existing income, we may not have considered what may happen when we are not around. Should anything happen to the breadwinner, the financial burden on the family can be tremendous. This includes daily expenses, as well as large loan amounts such as mortgages.  If you have children under 18, you can consider getting life insurance in case of an unpredictable event such as terminal illness or even death. 

ePROTECT term life Insurance

Getting life insurance typically equates to a lower premium when you are younger, as you are likely to be healthier without pre-existing conditions. In fact, term life insurance is an affordable fuss-free option for the budget-conscious as is a financial backup for your dependents should anything untoward happen to you.  ePROTECT term life from Tiq by Etiqa is one such policy for your life protection needs. This term life insurance offers coverage for the death benefit, terminal illness benefits and Total Permanent Disability (TPD). Pay-out may be subjected to the terms and conditions of the policy.

*Do refer to the terms and conditions at the bottom of this article.

Applying for a term life insurance policy from Tiq by Etiqa is a simple process. You can head online here and customise your term insurance plan. Given the COVID-19 situation, getting a policy online might be a good option.

Customise your policy

You can tailor the policy according to your own requirements. Choose from  $50,000 to $2 million for your coverage amount. You can select your coverage period from  5 years, 20 years or up till age 65. For most families, a term life coverage of up to 65 would be sufficient as it would cover any financial gap due to mortgages and expenses of children until they reach at least 18 yeast old. Personally, that is how I had planned the insurance coverage for my family. 

An Example

I did a calculation base on my age.

Opting for a 20-year ePROTECT term life plan with $500,000 coverage for a non-smoker male aged 46, will only cost $82.87/month. This is a perpetual discount of 18% off normal premium rates.  In comparison, a whole life policy that covers the equivalent amount would probably cost more at the same age. If you require more coverage for your bucks, term life insurance would be the way to go.

Payment can be made monthly, quarterly, half-yearly or yearly. If you chose the yearly mode, you would be able to save more on the final payment. That means you could potentially save more. From my quotation, I was able to save an extra 4% by selecting the yearly mode of payment.

Try it out for yourself here.

Current Promotion

Here is a guide on the current promotion offered by Tiq.

Terms apply

ePROTECT term life Financial Assistance Benefits for COVID-19

Other than the benefits associated with term life insurance, ePROTECT term life also offers up to $52,000 in  Financial Assistance Benefits for COVID-19 and additional benefits for side effects of COVID-19 vaccination. This is relevant given the era that we are living in now. 

For COVID-19, they would offer a payout for hospitalisation and ICU benefits (up to a cap of $1000 for each benefit, for the insured person). An additional lump sum will be provided in the unfortunate event of a death from COVID-19. For side effects from COVID-19 vaccination, there will also be daily payout (up to a cap of $1000 each) for Hospitalisation or Intensive Care Unit.

If you are unsure about the amount of coverage you need, there is also a  calculator on the website to determine if you are sufficiently covered. Try it. You might be surprised by the result.

Having insurance is like buying peace of mind for your family. After all, you would want to protect even when you are not around at the end of the day. 

I know I will.

About Tiq by Etiqa Insurance

A digital insurance channel that embraces changes to provide simple and convenient protection, Tiq’s mission is to make insurance transparent and accessible, inspiring you today to be prepared for life’s surprises and inevitabilities, while empowering you to “Live Unlimited” and take control of your tomorrow.

With a shared vision to change the paradigm of insurance and reshape customer experience, Etiqa created the strong foundation for Tiq. Because life never stops changing, Etiqa never stops progressing. A licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore, Etiqa is governed by the Insurance Act and has been providing insurance solutions since 1961. It is 69% owned by Maybank, Southeast Asia’s fourth largest banking group, with more than 22 million customers in 20 countries; and 31% owned by Ageas, an international insurance group with 33 million customers across 16 countries.



Read more about the terms and conditions governing the policy here.
Terms apply.
This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC.
This content is for reference only and is not a contract of insurance. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you.
As this product has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is accurate as of 15 June 2021

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