Review: TM Term Assure (II) (Renewable & Convertible) by Tokio Marine Life

As of July 2026, TM Term Assure (II) is a regular premium level term life plan offered by Tokio Marine Life Insurance Singapore Pte Ltd. Designed for pure protection, this policy provides coverage against death and terminal illness without any cash value, surrender value, bonuses, or maturity payouts. It is available in four currencies (SGD, USD, AUD, GBP) and offers flexible coverage terms ranging from 5 or 10 years with guaranteed renewability, up to age 85 next birthday for longer-term needs. The plan allows for conversion into whole life or endowment plans without further medical underwriting and includes a Guaranteed Insurability Option for specific life events.

How it compares

When evaluating TM Term Assure (II) against similar term life products on CompareFIRST.sg, the primary differentiator is its pricing relative to the features offered. Below is a comparison based on a 35-year-old male non-smoker basis, with premiums quoted per $100,000 sum assured.

Premium Analysis: At $191 per year per $100,000 sum assured, TM Term Assure (II) is the most expensive among the listed peers for the 1–5 year coverage band. For context, it costs approximately 18% more than i-Protect ($162) and nearly double the cost of Great Eastern’s Flexi Term ($97). However, these comparisons must be weighed against Tokio Marine’s financial strength (S&P A+ rating) and the breadth of its embedded features.

Feature Comparison:

• Renewability & Convertibility: Like i-Protect and Flexi Term, TM Term Assure (II) offers guaranteed renewability without medical evidence for 5 or 10-year terms. It also allows conversion to whole life/endowment plans before age 60, a feature not explicitly highlighted in the peer data but common among comprehensive term plans.
• Coverage Flexibility: Unlike i-Protect and Flexi Term which are primarily focused on the 1–5 year band in this comparison, TM Term Assure (II) extends coverage up to age 85 next birthday for terms of 11 years or more, offering greater long-term utility.
• Additional Benefits: The plan includes a Guaranteed Insurability Option (GIAI), allowing the policyholder to purchase additional coverage up to SGD500,000 without medical underwriting upon specific life events (e.g., marriage, childbirth). This is a distinct advantage over the peers listed, which do not mention similar guaranteed insurability riders in the provided data.

Pros

• Strong Financial Stability: Backed by Tokio Marine Life with an S&P credit rating of A+, offering high security for long-term policyholders.
• Comprehensive Conversion Privilege: Allows conversion to whole life or endowment plans without medical evidence before age 60, providing a pathway for permanent coverage.
• Guaranteed Insurability Option (GIAI): Permits additional coverage purchases up to SGD500,000 without medical underwriting upon key life events, subject to limits and conditions.
• Flexible Coverage Terms: Available in 4 currencies and offers terms from 5 years up to age 85 next birthday, catering to diverse needs.
• Terminal Illness Benefit: Includes a terminal illness payout (up to SGD4.5 million limit) that reduces the sum assured upon claim.

Cons

• Higher Premiums: At $191 per $100k SA, it is significantly more expensive than competitors like Flexi Term ($97) and i-Protect ($162).
• No Cash Value or Bonuses: As a pure protection term plan, it has no surrender value, cash value, or participating bonuses. It is purely for risk coverage.
• Limited Renewal Age for 10-Year Terms: For entry ages 66–70 with a 10-year term, guaranteed renewability is not available.
• No CPFIS/SRS Payments: Premiums cannot be paid using CPF Investment Scheme or Supplementary Retirement Scheme funds.
• Strict TI Definition: Terminal illness requires certification that the life assured is expected to live no more than 12 months despite medical treatment, with HIV-related conditions excluded.

Who it may suit

TM Term Assure (II) may suit individuals who prioritize financial security and insurer stability over premium cost. It is particularly relevant for those seeking a bridge to permanent coverage, given the robust conversion privileges and GIAI options. It is also suitable for policyholders who value flexibility in currency and long-term term lengths (up to age 85) and are willing to pay a premium for Tokio Marine’s A+ rated protection and comprehensive feature set.

This is general information based on CompareFIRST.sg data, not financial advice. Premiums and features can change; please verify with the insurer or a MAS-licensed financial adviser before making any decision.