Co-founder and CEO
17 May 2021
Since StashAway launched in 2017, we’ve been working hard to deliver effective financial services by providing affordable, transparent, and straightforward financial products designed for what people actually need.
That’s why I’m excited to introduce StashAway Term Life, a fully-digital group term life policy underwritten by Prudential Singapore. And it’s all available in the StashAway app.
Term life insurance is a type of life insurance policy that pays a lump sum in the event of death or Total and Permanent Disability (TPD). It’s key to making sure that your or your family’s finances aren’t compromised in case you can’t provide for them anymore.
Unlike whole life policies or Investment Linked Policies (ILPs), which are combined with cash or investments, term life insurance is usually significantly less expensive. Purchasing insurance and investments separately allows you to invest your money more cost-effectively than if they were combined. That’s why we chose to create a term life offering.
Our coverage ranges from $100,000 to $500,000 SGD and will be paid out in the event of death or Total and Permanent Disability. If you’re unsure about how much coverage you need, you can find out in-app with a personalised recommendation.
Applying only takes a few minutes, with no paperwork or in-person medical check required, and just 6 questions to answer about your health.
The policy can be renewed up until you turn 65 years old as long as you reside in Singapore. It’s particularly suitable for those early in their careers or those looking to easily top-up any existing coverage they have individually or as part of their employee benefits.
Prudential is a leading insurance company that has an AA- financial strength credit rating from S&P.
Want to know more about StashAway Term Life? Visit our FAQ page here.