Top 10 Life Insurance Companies in Singapore for 2024

Life insurance is a critical component of financial planning, providing peace of mind and financial security for you and your loved ones. In Singapore, the life insurance industry is highly competitive, with numerous companies offering a wide range of products tailored to different needs. As we step into 2024, here’s a list of the top 10 life insurance companies in Singapore , known for their reliability, comprehensive coverage options, and customer service.


1. AIA Singapore

  • Overview: AIA is one of the largest and most trusted life insurance providers in Singapore. Known for its innovative products and strong brand presence, AIA offers a wide range of plans, including term life, whole life, critical illness, and savings-linked policies.
  • Key Products:
    • AIA HealthShield Gold Max (Integrated Shield Plan)
    • AIA Pro Lifetime Protect (Critical Illness Plan)
    • AIA Vitality (Wellness Program)
  • Why Choose AIA?
    • Extensive network of tied agents and digital tools for policy management.
    • Strong focus on wellness and preventive care through AIA Vitality.
    • High claim settlement ratio.

2. Prudential Singapore

  • Overview: Prudential has been a household name in Singapore for decades, offering a mix of protection, savings, and investment-linked plans. Its PRUActive suite of products is particularly popular among young professionals.
  • Key Products:
    • PRUActive Protect (Term Life Insurance)
    • PRUShield (Integrated Shield Plan)
    • PRUInvestor Plus (Savings Plan)
  • Why Choose Prudential?
    • Customizable plans to suit individual needs.
    • Strong emphasis on long-term financial planning.
    • User-friendly mobile app for policy management.

3. Manulife Singapore

  • Overview: Manulife is a global leader in insurance and wealth management, offering innovative solutions that combine protection with investment opportunities. Its flagship product, ManuProtect Series, is highly regarded.
  • Key Products:
    • ManuProtect Advantage (Term Life Insurance)
    • Manulife ReadySave (Endowment Plan)
    • Manulife Medishield (Integrated Shield Plan)
  • Why Choose Manulife?
    • Competitive premiums and flexible payment options.
    • Strong focus on digital innovation and customer experience.
    • Comprehensive critical illness coverage.

4. NTUC Income

  • Overview: NTUC Income, or simply “Income,” is a homegrown insurer known for its affordable and straightforward policies. It caters to a wide audience, from individuals to families and businesses.
  • Key Products:
    • Income Term Life Insurance
    • IncomeShield (Integrated Shield Plan)
    • Income Legacy Plan (Whole Life Insurance)
  • Why Choose NTUC Income?
    • Affordable premiums, especially for budget-conscious families.
    • Simple and transparent policies.
    • Strong community focus and social responsibility initiatives.

5. Great Eastern Life

  • Overview: As one of the oldest insurers in Singapore, Great Eastern has built a reputation for reliability and trustworthiness. It offers a diverse range of life insurance products, including term, whole life, and endowment plans.
  • Key Products:
    • GREAT Life Secure (Term Life Insurance)
    • GREAT SupremeHealth (Integrated Shield Plan)
    • GREAT Wealth Multiplier (Savings Plan)
  • Why Choose Great Eastern?
    • Long-standing presence and proven track record.
    • Wide range of customizable plans.
    • Excellent customer service and claims process.

6. Aviva Singapore

  • Overview: Aviva is a global insurer with a strong presence in Singapore. It focuses on simplicity and transparency, making it an attractive choice for first-time buyers.
  • Key Products:
    • My Term Plan (Affordable Term Life Insurance)
    • MyMultiPlan (Flexible Savings Plan)
    • Aviva MyShield (Integrated Shield Plan)
  • Why Choose Aviva?
    • Transparent pricing and no hidden fees.
    • Easy-to-understand policies.
    • Digital-first approach with seamless online services.

7. AXA Singapore

  • Overview: AXA is a global leader in insurance and asset management, offering innovative solutions for protection and savings. Its FlexiLife series is particularly popular for its flexibility.
  • Key Products:
    • FlexiLife (Customizable Term Life Insurance)
    • AXA Shield (Integrated Shield Plan)
    • AXA SmartSaver (Endowment Plan)
  • Why Choose AXA?
    • Highly customizable plans to fit individual needs.
    • Strong global presence and financial stability.
    • Focus on digital tools and customer convenience.

8. Tokio Marine Life Insurance

  • Overview: Tokio Marine is part of a leading Japanese insurer, offering reliable and affordable life insurance products. It’s known for its straightforward policies and excellent customer service.
  • Key Products:
    • TM Term Life Insurance
    • TM Shield Plus (Integrated Shield Plan)
    • TM SavePlus (Endowment Plan)
  • Why Choose Tokio Marine?
    • Competitive premiums and simple policies.
    • Strong reputation for timely claims settlement.
    • Customer-centric approach with dedicated support.

9. Etiqa Insurance

  • Overview: Etiqa is a subsidiary of Maybank and offers a wide range of life insurance products, including term, whole life, and savings plans. It’s known for its affordability and digital capabilities.
  • Key Products:
    • Etiqa Tada! Insurance (Pay-per-day Term Life)
    • Etiqa Shield (Integrated Shield Plan)
    • Etiqa SmartWealth (Savings Plan)
  • Why Choose Etiqa?
    • Innovative pay-per-day model for flexibility.
    • Affordable premiums for budget-conscious buyers.
    • Seamless digital experience with quick claims processing.

10. Zurich Insurance Singapore

  • Overview: Zurich is a global insurer with a strong presence in Singapore, offering a range of life insurance products designed for both individuals and businesses.
  • Key Products:
    • Zurich Term Life Insurance
    • Zurich ProHealth (Integrated Shield Plan)
    • Zurich InvestSave (Savings Plan)
  • Why Choose Zurich?
    • Global expertise and financial stability.
    • Comprehensive coverage options.
    • Strong focus on corporate and group insurance solutions.

How to Choose the Right Life Insurance Company

When selecting a life insurance provider, consider the following factors:

  • Coverage Needs: Assess whether you need term, whole life, or investment-linked plans.
  • Premiums and Budget: Compare quotes and ensure the premiums fit your financial situation.
  • Claims Process: Look for companies with a reputation for fast and hassle-free claims settlement.
  • Customer Service: Read reviews and ask about the insurer’s responsiveness and support.
  • Digital Tools: Check if the company offers user-friendly apps or online platforms for policy management.

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