Tiq Term Life Insurance (ePROTECT term life / DIRECT - Etiqa term life II) explained: benefits, limits and the fine print
Etiqa's digital term life plan starts from S$0.09 a day. Here is what that buys, how the two underlying variants differ, and what the disclosure sheets actually cover.
Tiq's term life insurance is sold under a headline price of S$0.09 a day, which Etiqa's product page states works out to S$2.70 a month. That figure is an entry point rather than a full quote, and the plan itself is actually two distinct product variants sold under one marketing name — worth untangling before assuming either one matches what the advertised price implies.
Two products under one name
The product page covers ePROTECT term life and DIRECT - Etiqa term life II together, and the underlying documents confirm these are separate products with their own disclosure sheets and policy contracts, not two labels for the same plan. Both are term life plans sold on a no-medical-examination basis, but a buyer should check which of the two they are actually being quoted, since the disclosure sheet and policy wording differ between them.
What the cover includes
As published, the plan pays a lump sum on death, terminal illness or total and permanent disability (TPD), with sum assured selectable from S$50,000 up to S$2,000,000. Buyers can choose between a 5-year renewable term (guaranteed renewable up to age 80), a 20-year fixed term, or cover running to age 65, and entry age is stated as 19 to 65. There is no cash value, consistent with a pure term product, and premiums can be paid monthly, quarterly, half-yearly or yearly.
An optional critical illness rider — Etiqa CI rider II — extends the plan to cover 30 critical illnesses, up to S$400,000, though the product page notes this rider is available on the DIRECT plan only, not on ePROTECT term life. This is a meaningful distinction for anyone comparing the two variants: if critical illness cover matters to you, which of the two products you are quoted determines whether that option even exists.
What the headline price actually represents
S$2.70 a month is almost certainly the starting premium for the plan's minimum sum assured, youngest eligible age band, and shortest or most basic term configuration — that is standard practice for a headline "from" price on a digital insurance product. It should not be read as a representative premium for a meaningful sum assured at a typical buyer's age. Getting an actual quote for your specific age, sum assured and term choice is the only way to know what the plan would really cost.
The renewal structure worth understanding
The 5-year renewable option, guaranteed to age 80, means the policyholder does not need to requalify medically at each 5-year renewal within that structure, but the product page and the underlying policy documents note that premiums are revised at renewal according to the policyholder's age at that point. This is the same trade-off common to most renewable term products: convenience and continued cover without fresh underwriting, against a premium that rises at each renewal rather than staying level for the plan's full duration the way a fixed 20-year term would.
Which documents actually govern
Etiqa publishes separate product disclosure sheets for the DIRECT - Etiqa term life II plan, the ePROTECT term life plan, and the Etiqa CI rider II, along with separate policy wording for each. Where the product page's summary and one of these documents disagree, the disclosure sheet and policy contract are what actually govern the terms of the plan you hold. Given that this product is sold direct, without an adviser walking through the fine print by default, reading the relevant disclosure sheet before purchase is particularly worth doing here.
What to check before buying
- Which of the two underlying products — ePROTECT term life or DIRECT - Etiqa term life II — am I actually being quoted?
- Does the CI rider apply to my chosen variant, and is S$400,000 sufficient against my other CI cover?
- What does my actual premium look like at each 5-year renewal if I choose the renewable structure, not just today's premium?
- Does "no medical examination" mean no health questions at all, or a shorter set of declarations — and what happens to a claim if something undisclosed comes to light?
- How does the effective cost compare with a traditional adviser-sold term plan once the CI rider and my actual sum assured are factored in?
Talk to an advisor
A direct, no-medical-exam term plan can be a reasonable and efficient choice, but the two-variant structure and the renewal premium path are easy to misjudge from the marketing page alone. Use the portal's advisor matching to get a second opinion before committing, or ask our assistant to compare this plan against others on term life.
Sources
This content is educational information from a licensed advisor, not financial advice. Product details vary by insurer — verify specifics with an advisor.
