PolicyPal Promotion: Get Paid to Sort Out Your Insurance

It always feels good to be protected. But the only thing is, it often comes at such high premiums that many of us can’t afford them. Sure, what we as consumers are buying back is the peace of mind and protection coverage should an unfortunate event occur… but we still feel the pinch nonetheless. 

At PolicyPal, we care about helping you get protected within your budget. And we want to reward you for taking those important first steps into getting adequate insurance coverage.

Apart from advising you on the most affordable insurance coverage for your needs, for the rest of the year, we’re also offering you 10% commission rebate via PayNow when you purchase your life insurance policies. 


Why is PolicyPal giving back?

What’s this whole deal about cashback on your insurance? Is there some sort of a catch?

We understand your apprehension, but this is just an extension of our core belief in giving back to the community and also our way of saying thank you for your support. Being open and fostering a good community is in our blood. You can read all about our giveback movement and pricing transparency

Do note that the 10% commission rebate is calculated based on your life insurance premiums, so the actual cashback may vary according to the premiums bought. 


What insurance products are eligible for this promotion?

But enough about us, what products are actually eligible for this promotion? 

As mentioned above, you’ll be entitled for this promotion with any purchase of life insurance products, which are plans that will give you or your family a payout in the unfortunate event of your death or total permanent disablement (TPD). 

Life insurance encompasses a wide range of products such as term life, whole life, investments, endowment plans, retirement, and critical illness policies. 


Term life insurance

Term life insurance is the most basic form of life insurance, and it is something that most people would want to get to protect their loved ones should something unfortunate happen to them.

Usually standing opposed to whole life plans, term life insurance only lasts for a fixed period of time and it’s purely for protection. Should you survive the term unscathed, you do not get any further financial benefit from it.

Term life insurance plans are very affordable due to their basic nature. They are best for people who know what specific protection they need. 

Learn more about term life insurance


Whole life insurance

On the flip side, whole life insurance plans have a coverage of well, your entire life, even after all the premiums have been paid for. These kinds of plans usually guarantee the sum assured with potential bonuses. 

Whole life insurance is a more palatable alternative to term life, for people who don’t like the thought of not getting anything if they survive the term. It contains “surrender value”, which means you can opt to surrender the policy and cash it out.

However, whole life insurance tends to be more expensive. Some of the premiums you pay go into protection coverage while the rest are being invested by the insurer. 

Learn more about whole life insurance.


Critical illness insurance

Critical illness insurance plans are one of those policies that younger people generally rebuff when asked to purchase, believing to be strong enough or deem such situations unlikely to occur. In all honesty, they can be one of the most important insurance policies to purchase. 

Critical illness insurance covers up to the 37 major illnesses listed under the Life Insurance Association’s framework, including major cancers, heart attack, kidney failure and stroke. Some critical illness plans cover selected illnesses only, e.g. cancer. Among the plans, some only cover a late-stage diagnosis while others cover the early stages of illness.

As the saying goes, it’s more expensive to get sick than die in Singapore. Critical illness insurance pays out a lump sum in the event of diagnosis to help defray your medical expenses and income loss.

Learn more about critical illness insurance.


Endowment plans 

Endowment plans are structured savings plans, which come in a range of policy terms. A sort of “forced savings”, many like the idea of endowment plans as a way of fattening up their retirement fund. 

Short-term endowment plans can have a term of three to five years, while long-term plans can span up to 25 years or more. Short-term endowment plans tend to be single-premium, where the premium is paid in one lump sum. Conversely, most long-term endowment plans require regular periodic premium payments throughout the duration of the plan. 

Due to the long financial commitment for long-term endowment plans, we recommend seeking impartial advice before you commit.

Learn more about endowment plans.


Retirement annuities

Annuities (also known as retirement plans) pay out a stable consistent stream of income to you upon a chosen retirement age, providing financial stability as you enjoy your golden years. If you think you haven’t heard of such plans ever, consider again as CPF LIFE is an extremely popular example of an annuity. 

But private insurers have annuity plans as well, and usually such plans from private insurers are more flexible with their payouts. These can be used to supplement your CPF LIFE.

Learn more about annuities.


Investment-linked policies

If you like to have plans that package everything for you, investment-linked policies are an interesting product to consider, seeing that it offers both life insurance coverage and investment components.

With higher potential returns and the flexibility of managing and adjusting your insurance coverage, investment-linked policies is worth considering if you’re the kind of person to have everything in one place. 

Learn more about investment-linked plans. 


PolicyPal promotion: 10% commission rebate*

Compare, buy, and manage Life Insurance on PolicyPal — and earn cash rebate while you’re at it! Do note that Integrated Shield and Maternity plans are excluded from this promotion.

*Your rebate will be credited via PayNow, Term and Conditions apply


Not sure what coverage you need?

Insurance is complicated. We’re always here to answer any queries so you know exactly what you’re buying. Chat with us or leave us your contact details and we’ll come back to you as soon as possible.

How can we help?


Read more:
7 Best Term Life Insurance Plans in Singapore
Best Endowment Plans in Singapore
Term Life Insurance vs Whole Life Insurance: Which Is Best for You?



PolicyPal is here to help you make informed and savvy financial decisions through the good times and the bad.

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