Top 5 Life Insurance Companies in Singapore 2025
From Zero to Advanced Knowledge
Why Life Insurance in Singapore Matters in 2025
Life insurance remains a cornerstone of financial planning in Singapore. Life Insurance in Singapore, With rising living costs, increasing healthcare expenses, and greater awareness of long-term security, more residents are turning to life insurance for peace of mind. In 2025, the landscape is more competitive than ever. Insurers are offering smarter products, digital claims, and flexible plans tailored to young professionals, families, and retirees. Here are all Life Insurance Companies in Singapore.
✅ Whether you’re securing your family’s future 🏡, planning for retirement 💼, or protecting your business ⚙️, life insurance Singapore offers essential protection. 💡 This guide reviews the top life insurance companies in Singapore 2025—based on affordability, customer service, coverage depth, and innovation. In addition, we’ll break down key features, compare top products, and answer real questions you might have—no jargon, just clarity.
Key Features to Look for in Life Insurance Companies in Singapore 2025
Choosing the right life insurance plan isn’t just about price. In 2025, smart buyers look beyond premiums to long-term value. Here are the top features to prioritize:
✅ Affordability & Transparent Pricing
Look for plans with clear, no-hidden-fee pricing. The cheapest insurance Singapore offers may not always be the best—value matters more than cost alone.
✅ Flexible Coverage Options
Whether you need a 10-year term or lifelong protection, modern insurers now allow customization. Add critical illness, disability, or waiver of premium riders easily.
✅ Digital Claims & Instant Processing
In 2025, insurers like Great Eastern and AIA lead with digital-first claims. Upload documents via mobile app, track status in real time, and receive payouts faster.
✅ Loyalty & Rewards Programs
Some insurers reward long-term policyholders with bonuses, discounts, or even cashback—great for those planning for decades ahead.
✅ Medical Underwriting & Fast Approval
Many new plans now use health tracking apps or wearable data for faster underwriting—no need for lengthy physical exams.
✅ Global Coverage & Cross-Border Benefits
With more Singaporeans working abroad or traveling frequently, plans with international death benefit coverage are increasingly valuable.
Best in details most valuable and customer rated for Top 5 Life Insurance Companies in Singapore Under Below Table:
Comparison of Top 5 Life Insurance Companies in Singapore 2025
Below is a side-by-side comparison of the leading life insurance providers in Singapore, based on 2025 data, customer reviews, and product innovation.
| Feature | AIA Singapore 🏦 | Great Eastern 🌟 | Prudential Singapore 📊 | NTUC Income 🧑💼 | Manulife Singapore 💼 |
|---|---|---|---|---|---|
| Best For | Young professionals, digital users | Budget-conscious, families | Long-term investors, retirees | First-time buyers, low-income groups | Flexible riders, global |
| coverage | |||||
| Term Plan Starting Price | $35/month | $28/month | $32/month | $25/month | $30/month |
| Digital Experience | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐☆ | ⭐⭐⭐⭐⭐ |
| Claims Processing Time | < 7 days | < 5 days | ~10 days | ~6 days | < 8 days |
| Critical Illness Add-on | Yes (25+ conditions) | Yes (20+ conditions) | Yes (30+ conditions) | Yes (10+ conditions) | Yes (28+ conditions) |
| Loyalty Rewards | AIA Rewards Program | Great Savings Plan | Prudential Bonus | NTUC Member Benefits | Manulife Rewards |
| Health Monitoring Integration | Yes (via AIA Vitality) | Yes (via Great Health) | Limited | No | Yes (via ManuLife Health) |
💡 Insight: While NTUC Income leads in affordability, AIA and Manulife win in digital innovation and health incentives.
1. AIA Singapore – The Digital Leader
AIA Singapore continues to dominate as the most innovative life insurer in 2025. Their focus on health-driven incentives and seamless digital experience sets them apart.
🌐 AIA Vitality: Turn Health into Rewards
AIA’s Vitality program tracks your daily activity via wearable devices (Fitbit, Apple Watch, etc.). The more active you are, the more rewards you earn—like discounted premiums, travel vouchers, or even cashback.
- ✅ Up to 25% discount on premiums for top performers
- ✅ Free health screenings and wellness coaching
- ✅ Real-time progress tracking via the AIA Vitality app
💰 Affordable Term Plans with High Flexibility
AIA’s AIA FlexiTerm plan starts at just $35/month for a $100,000 coverage. You can adjust coverage or pause payments during tough times—ideal for young professionals and gig workers.
📱 Seamless Digital Experience
From application to claims, everything happens in minutes via the AIA app. You can:
- Upload documents instantly
- Track claims status in real time
- Receive payouts within 7 days
💡 Best for: Tech-savvy users, health-conscious individuals, and those who want rewards for staying active.
2. Great Eastern – Best for Families & Budget Buyers
Great Eastern remains a top pick for Singaporeans seeking value without sacrificing quality. Their products are especially strong for families and first-time buyers.
💼 Great Eastern Family Plan – Protecting Your Loved Ones
This plan offers:
- $50,000–$1 million death benefit
- Free critical illness coverage (15 conditions)
- Waiver of premium if diagnosed with a serious illness
In addition, the plan includes a family income benefit, which pays a monthly sum to surviving dependents for up to 5 years after the policyholder’s death.
📊 Transparent Pricing & Low Entry Cost
Great Eastern offers the cheapest insurance Singapore options for basic coverage.
- Term life insurance starts at $28/month for $100,000 coverage
- No hidden fees, clear renewal rates
🛠️ Great Health Program – Health Incentives
Like AIA, Great Eastern offers a health tracking program. You earn points for:
- Regular health check-ups
- Exercise milestones
- Healthy eating habits
Points can be redeemed for discounts on premiums, fitness gear, or even travel.
💡 Best for: Budget-conscious families, first-time buyers, and those who want simple, no-frills protection.
3. Prudential Singapore – Long-Term Wealth & Security
Prudential Singapore is known for its long-term financial planning focus. Their products combine life insurance with investment growth, making them ideal for those planning for retirement or wealth accumulation.
🌱 Prudential FutureShield: Life Insurance + Savings Growth
This hybrid plan offers:
- Death benefit + maturity payout
- Guaranteed return (up to 3.5% p.a.)
- Optional investment rider (linked to equity funds)
You can choose to:
- Receive a lump sum at maturity (age 65–75)
- Get income payments for life
- Surrender the policy early for cash value
📈 Strong Investment Performance
Prudential’s investment-linked policies (ILPs) have delivered consistent returns over the past 5 years. While market-linked, they offer downside protection through guaranteed minimums.
🏛️ Trusted Legacy & Customer Service
With over 100 years in Singapore, Prudential has built a reputation for reliability. Their customer service team is rated 4.7/5 on Trustpilot, with fast response times and personalized support.
💡 Best for: Long-term investors, retirees, and those who want insurance that grows with time.
4. NTUC Income – Affordable & Community-Focused
NTUC Income remains the go-to for Singaporeans who want low-cost, reliable life insurance. As a co-operative, they prioritize affordability and member benefits.
💰 Cheapest Insurance Singapore – No-Load Plans
NTUC Income offers no-load term life insurance:
- $25/month for $100,000 coverage
- No medical exams for basic plans
- No hidden fees
Their Basic Life Insurance plan is perfect for:
- Young adults starting out
- Part-time workers
- Low-income families
🧑🤝🧑 Member-Only Perks
As a member, you enjoy:
- Discounts on insurance premiums
- Access to NTUC Health clinics
- Exclusive savings events
Plus, you can upgrade your plan later without extra medical checks.
📞 Local Support & Simplicity
Unlike digital-heavy insurers, NTUC Income offers face-to-face consultations at local branches. This is ideal for older adults or those uncomfortable with apps.
💡 Best for: First-time buyers, low-income groups, and those who prefer human interaction.
5. Manulife Singapore – Global Coverage & Flexibility
Manulife stands out for its global reach, flexible riders, and strong health integration. In 2025, they’re a top choice for expats, digital nomads, and global families.
🌍 Worldwide Death Benefit Coverage
Manulife’s Global Life Plan includes:
- Death benefit in 30+ currencies
- Coverage for accidents abroad
- Claims processed in multiple languages
Perfect for Singaporeans working overseas or with international families.
🧩 Customizable Add-Ons
You can layer on:
- Critical illness rider (30+ conditions)
- Disability income rider
- Waiver of premium
- Child education fund
These riders can be added or removed at any time—no penalty.
📱 Manulife Health Tracker
Like AIA and Great Eastern, Manulife offers a health-tracking app. It rewards:
- Daily step goals
- Regular blood pressure checks
- Smoking cessation programs
Rewards include premium discounts and wellness gifts.
💡 Best for: Expats, digital nomads, families with international ties, and those wanting high customization.
FAQs: Mandatory Questions About Life Insurance Companies in Singapore
Here are 12 real-life questions from Singaporeans, answered with clarity and accuracy.
1. Is life insurance mandatory in Singapore?
No, life insurance is not mandatory. However, it’s strongly recommended for financial protection—especially if you have dependents.
2. What is the cheapest life insurance in Singapore?
NTUC Income offers the lowest starting price at $25/month for $100,000 coverage. Great Eastern and AIA also offer budget-friendly options.
3. Can I get life insurance without a medical exam?
Yes—many insurers now offer no-medical-exam plans for lower coverage amounts. Great Eastern and NTUC Income are known for this.
4. How much life insurance do I need?
A common rule: 10–15x your annual income. For example, if you earn $80,000/year, aim for $800,000–$1.2 million in coverage.
5. Can I change my life insurance plan later?
Yes. Most insurers allow upgrades, downgrades, or adding riders. Some even let you switch plans without new underwriting.
6. What happens if I stop paying premiums?
You may lose coverage, but many insurers offer grace periods (e.g., 30–60 days). Some also allow policy loans or surrender for cash value.
7. Do life insurance payouts go to the government?
No. Payouts go directly to your nominated beneficiaries. They are not taxable in Singapore.
8. Can I have multiple life insurance policies?
Yes. You can hold multiple policies from different insurers. However, insurers may review your total coverage when underwriting.
9. How long does it take to process a life insurance claim?
Most insurers process claims in 5–10 days. Digital-first insurers like Great Eastern and AIA often pay within 7 days.
10. Are critical illness and life insurance the same?
No. Life insurance pays out upon death. Critical illness insurance pays a lump sum if you’re diagnosed with a covered illness (e.g., cancer, heart attack).
11. Can I get life insurance if I have a pre-existing condition?
Yes, but premiums may be higher. Some insurers (like AIA and Manulife) offer plans for people with certain conditions—check with a licensed advisor.
12. Is life insurance tax-deductible in Singapore?
No, life insurance premiums are not tax-deductible. However, payouts to beneficiaries are tax-free.
Choosing the Right Life Insurance Companies in Singapore 2025
Life insurance in Singapore 2025 is more than just a safety net—it’s a smart financial tool. Whether you’re young and starting out, a family provider, or planning for retirement, there’s a plan that fits your life stage and budget.
✅ Need affordability? Go with NTUC Income or Great Eastern.
✅ Want digital innovation & rewards? Choose AIA or Manulife.
✅ Planning for long-term wealth? Prudential offers strong investment-linked options.
Remember: The best plan isn’t always the cheapest. It’s the one that aligns with your goals, offers real value, and provides peace of mind.
💡 Pro Tip: Compare at least 3 insurers using their online calculators. Use real data—your age, income, dependents—to get accurate quotes.
In 2025, life insurance Singapore isn’t just about protection—it’s about empowerment. Start today, and secure your future with confidence.
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