I noticed that the amount of premium I was paying for my Singlife Group Term Life and Personal Injury plan dropped significantly in January 2023 and realized that the premiums have dropped. It is strange that no announcement was made that the premiums have dropped. I don’t have the old policy documents to compare the differences between the policy wordings, if any. This article is just to record the reduction in premiums. I also noticed that Group Term Life policy is GST exempted while the Group Personal Injury policy has GST charged but is not included in the premium listed.
Disclaimer: This is not an endorsement of Singlife’s Group policies.
Group Term Life Monthly Premiums From January 2023
For the same coverage, the monthly premiums for the Group Term Life dropped by 39% across the board for ages 65 and below....