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Best Whole Life Insurance Singapore 2024

Secure the most competitive Whole Life coverage including early critical illness, longest multiplier & best cash value & premiums across 15 insurers.

Competitive Quotes Over 15 Life Insurers

Life is full of uncertainties, and it’s crucial to have a reliable insurance plan to navigate through the ups and downs and achieve our long-term aspirations.

At Tree Of Wealth, we conduct a thorough comparison of more than 15 life insurers to assist you in acquiring the most suitable Whole Life insurance plan that aligns with your unique requirements.

How Whole Life Insurance Helps You

Whole life insurance provides lifelong protection and financial security. Unlike term insurance, it remains in effect for your entire life, offering a guaranteed death benefit to your beneficiaries. 

Additionally, it builds cash value over time, which you can borrow against, making it dual benefit and a valuable asset for long-term financial planning. 

Aviva MyRetirement

How Whole Life Insurance Plan Supports You

Whole Life Insurance offers a comprehensive solution for lifelong coverage, building cash value alongside ensuring financial protection for your loved ones, adaptable to life’s changing circumstances.

Limited Pay Premium Term

A limited premium term for a lifetime of coverage,
or even legacy planning.

Multiplier Enhancements

The Sum Assured for Death, TPD & Early to Advance Critical Illness can be multiplied for life and not drop off completely

Cash Value

Ability to withdraw partially/fully on the cash value, or convert to annuity payouts.


Supplementary benefits can be customised to meet your exact needs and concerns, providing an all rounded coverage.

Legacy Planning

Allows you to provide a lump sum to your family regardless if they are still depending on you financially throughout your life.​

3rd Party Protection

Premium Waiver of death and even Early Stage CI for payor - useful if you are getting this for your child

Get Thorough Whole Life Insurance Quotes Across Top Insurers

Singlife with Aviva

Whole Life

Premium Term
10, 15, 20, 25 Or To Age 65
Early CI (Single Pay) Option
  • 2/3/4/5
  • Age 65, 70 & 75
Special Benefits
  • Multiplied Payout Includes Non-Guaranteed Yields
  • Pre-early stage Tumor Coverage
  • ICU Payout Benefits
china taiping

China Taiping
i-Secure Legacy II

Premium Term
5, 10, 15, 20, 25
Early CI (Single Pay) Option
  • 2/ 3/ 4/ 5
  • Age 76 & 86 ANB
Special Benefits
  • 50% Multiplier Benefit After It Ends ** First In Market
Etiqa Insurance

Essential Whole Life Cover

Premium Term
10, 15, 20 Years
Early CI (Single Pay) Option
  • 1/ 2/ 3
  • Age 65 & 80
Special Benefits
  • Convert into annual payouts after age 65
hsbc life

Life Treasure II

Premium Term
10, 15, 20, 25 Or To Age 65
Early CI (Single Pay) Option
  • 1/2/3/4/5
  • Age 65, 70 & 80
Special Benefits
  • Able to buy new Life Plans Upon Milestones (GIO)

FWD Life Protection

Premium Term
5, 10, 15, 20, 25 Years
Early CI (Single Pay) Option
  • 2/ 3/ 5
  • Age 75 & 85 LB
Special Benefits

Covers 175+ critical illnesses, including early cancer, ICU, and mental conditions, with ongoing multiplier benefits beyond age 75 or 85.

NTUC Income
Star Secure

Premium Term
5, 10, 15, 20, 25, 30 or To Age 65
Early CI (Single Pay) Option
  • Yes
  • Must be 10k less than S.A
  • 1/2/3/4/5
  • Age 70
Special Benefits
  •  NA
manulife singapore

LifeReady Plus II

Premium Term
10, 15, 20, 25 Or To Age 99
Early CI (Single Pay) Option
  • 1/2/3/4/5
  • Age 70 & 80
Special Benefits

Option for income distribution over ten years, plus an extra 5% interest from age 70.

China Life Insurance Singapore

China Life
Whole Life Guardian

Premium Term
5, 10, 15, 20, 25 Years
Early CI (Single Pay) Option
Special Benefits
  • Coverage includes ADHD, Bipolar & OCD

Premiums at a Glance

Age 35, Non-Smoker, 25 Years Premium Term

Sum Assured of $125k with 2 times Multiplier For Death, Total Disability & Early To Advance Critical Illness


Annual Premium – Male

Annual Premium – Female




China Taiping



Etiqa Life


(Premium Term : longest at 20 years)


(Premium Term : longest at 20 years)

FWD Life









Here's what our clients say..

Get Best Whole Life Plan Quotes Now

Tailored to your needs, our MAS-Licensed Partner provides and customizes unbiased solutions and compare for you across various providers.

No Obligations & No Hidden Fees.

    Frequently Asked Questions

    It is an Insurance protection plan that covers the insured for life. Most Whole Life plans today have a limited premium paying term and upon finishing it, your coverage is for life. Some Insurers have the option for you to pay the premium for life as well.

    Although the basic feature of a Whole Life Insurance plan provides for death, you can get a more comprehensive coverage by customising the different Supplementary Benefits, or Riders, to suit your needs. Some riders include multiplier which multiplies your basic sum assured to a few times, as well as certain premium waiver upon Early Stage Critical Illness (CI). This sort of riders are particularly useful if you are paying the coverage for your child or spouse.

    Whole Life Insurance pays out a lump sum in the event of Death, Total Permanent Disability (TPD), as well as providing a lifetime of protection for you on Early Stage CI Single Payouts and Multiple Claim Payouts for CI of all stages.

    • Whole Life Insurance coverage plans have come a very long way. What used to be just Death, Terminal Illness and Total Permanent Disability coverage has now seen a wide variety of range of supplementary benefits to make the Whole Life Insurance an even more comprehensive coverage:
    • Early Stage Critical Illness (Single Payout)
    • Advance Stage Critical Illness (Single Payout)
    • Multiple Pay Critical Illness
      • Early to Advance – some insurers even have the feature to convert them into stand-alone Critical Illness plans
    • Multiplier feature
      • This feature allows you to multiply the Sum Assured (2 – 10 times) to a few times more than the original amount. You are essentially covered more for a lower price. Most insurers have this feature until age 70 with some exception Insurers until age 86 or even whole life.
    • Critical Illness Premium Waiver
      • Waives off premiums in the event of such CI diagnosis
    • Total and Permanent Disability (TPD)
    • Payor Premium Waiver for Child
      • A form of premium protection, in the event of payor’s death or diagnosis upon Early Stage CI, premium for your child’s Whole Life plan will be waived off
    Whole Life plans also have a Cash Value (aka Surrender Value), this often entices on the notion that you are able to spend it if you don’t make any claims. A “one sonte two birds” option.

    Imagine you are looking at a coverage of $250, 000 for Death, TPD and Early Stage CI coverage. Anyone of those occurring and you would like a payout of $250, 000. However a high sum assured like that is going to be expensive. Thus, you can work around a few permutations, for example:

    A sum assured of $50, 000 with 5 times multiplier ($250, 000) and a sum assured of $125, 000 with 2 times multiplier. Both provides $250, 000 of coverage until age 70 (most insurers at age 70, with certain insurers until age 86 or even life).

    That being said, after the age of 70 (or when the multiplier ends), the payout will be basic sum assured ($50, 000 or $125, 000 in this case) and yield it garnered throughout the years. 

    So why would someone choose a lower Sum Assured and a higher Multiplier benefit? The main difference is that the one with $50, 000 sum assured is going to be cheaper than the sum assured of $125, 000, as the cash value is going to be higher for the $125, 000 one and the premium calculation is based on sum assured.

    There is however, an insurer with the ability to extend the multiplier for life. Find out more here.

    It ranges from Single Premium (1 time) to 5, 10, 15, 20 and 25 years. Certain Insurers allow you to pay up to age 99. This may make sense for people whom are advance in age. Mode of premiums are monthly, quarterly, half-annually and annually. 

    Depending on certain Insurers, they have a feature where you have the choice to convert their whole life plan into an annuity retirement plan. It allows you to enjoy a stable stream of income at a chosen stipulated age while at the same time not terminating the policy, with a reduced sum assured.

    This is suitable when you find that the sum assured for death/CI coverage is not as concerning when your life commitments have been completed or dependants are now financially sustainable on their own now.

    The Cash Value of a Whole Life Insurance policy is a pool of money that grows within it. Insurers will allocate some of the premiums that you pay into their underlying investment which can be assets and/or funds portfolios. This is managed by a fund manager either by the insurer or appointed. Having a Cash Value in a whole life plan is what makes the premium so much more expensive as compared to a term insurance. 

    Some believe that the cash value is not as attractive as having their own endowment or investment wealth growth instruments, leading a school of thought that is termed as “Buy Term Invest the Rest” (BTIR), where using the similar premium, you save on focusing life and critical illness with term insurance and growing your own wealth with investments/endowment.

    Participating whole life insurance refers to the plan is being invested in Insurers’ participating fund. By doing so, Insurers share the profit of the returns of the investment also known as bonus, paid yearly, via the smoothing process:

    Smoothing policy: Insurers generally try to avoid large fluctuations in the non-guaranteed bonuses from year to year by smoothing bonuses over time. For example, insurers may hold back some bonuses in the years when the fund has performed well. This is so that bonuses can be maintained when the fund performs poorly. (

    Once the bonus is declared, they are guaranteed and accumulated throughout the whole term. In a Whole Life Insurance, it can be accumulated for life, or age 99 which are some Insurers’ definition of whole life is.

    To differentiate between participating and non-participating policies, have a look at the Policy Illustration and you will see under the Surrender Value (Cash Value upon surrendering) table, there is a Guaranteed and Non-Guaranteed portion, with 2 standard projections of 3.25% and 4. 75%. As insurers cannot guarantee market trends, as well as past performances are not an indicator of future outcomes, the closest thing is to show accurate reasonable projections like the 2 projections stated above.  

    Term Insurance on the other hand, is one common Non-Participating policy that has a definite payout amount under the specific coverage (Death, Early Stage CI, MultiPay CI etc) and does not participate in the profit of the participating fund and underlying assets.

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