Review: DIRECT- TM Basic Term (Renewable) (+ Critical Illness) by Tokio Marine Life

Figures as of: July 2026 (from CompareFIRST.sg).

Tokio Marine Life Insurance Singapore Pte Ltd has introduced DIRECT- TM Basic Term (Renewable) (+ Critical Illness), a direct-purchase term life plan designed for consumers seeking pure protection without the involvement of financial advisers. As a non-participating policy, it offers no cash value, bonuses, or maturity payouts, focusing solely on providing a death benefit, terminal illness coverage, and a compulsory total and permanent disability (TPD) rider. The product is available for entry ages 19 to 65, with coverage terms of 5 years, 20 years, or until age 65. Notably, the 5-year term option includes a guaranteed renewal privilege, allowing policyholders to renew without further medical underwriting up to age 80, though premiums will adjust based on attained age at each renewal.

How it compares

To evaluate the competitiveness of DIRECT- TM Basic Term, we compare it against similar direct-purchase renewable term plans for a male, non-smoker aged 35, with a $100,000 sum assured and a 5-year coverage term.

Based on the data above, Tokio Marine’s offering is priced at $113 per year for this specific profile. This places it in the mid-to-upper range of its peers. It is significantly more expensive than Income Insurance’s DIRECT Star Term ($77) and China Taiping’s DIRECT - Term ($66). However, it is slightly cheaper than HSBC Life’s DIRECT - Term Lite ($117).

The inclusion of the Critical Illness Accelerator Rider in the target product name suggests additional coverage options may be available or bundled, which typically influences premium pricing compared to basic term plans. The annual premium range for this product across all criteria is reported between $53 and $1,775, with an average of $211 based on 303 quotes. While the specific cost of adding the Critical Illness rider is not broken out in the summary table, the base term premium is competitive only against the highest-priced peer listed (HSBC Life).

Pros

• Established Insurer: Backed by Tokio Marine Life Insurance Singapore Pte Ltd, which holds an A+ credit rating from S&P, providing a sense of financial stability.
• Guaranteed Renewability (5-Year Term): The 5-year coverage option allows for guaranteed renewal without new medical evidence, up to age 80. This is beneficial for those who may face health issues later in life that would make new underwriting difficult.
• Comprehensive Base Coverage: Includes death benefit, terminal illness benefit (up to $4.5 million aggregate limit), and a compulsory TPD rider, ensuring broad protection against major life risks.
• Direct Purchase Model: Commission-free purchase allows for direct interaction with the insurer, potentially simplifying the buying process for tech-savvy consumers who prefer self-service.

Cons

• Higher Premiums: At $113/year for a 5-year term (per $100k SA), it is notably more expensive than competitors like Income Insurance ($77) and China Taiping ($66).
• No Convertibility: The product lacks a convertability feature, meaning policyholders cannot switch to a permanent life or savings plan without undergoing new underwriting.
• Limited Payment Options: Does not allow premium payments via SRS (Supplementary Retirement Scheme) or CPFIS (CPF Investment Scheme), limiting tax-deferred payment options for some Singaporeans.
• No Cash Value: As a pure protection term plan, there is no surrender value or maturity benefit. If the policy expires without a claim, the premiums paid are not refunded.

Who it may suit

This product may suit individuals who prioritize insurer stability and the security of guaranteed renewability over finding the absolute lowest premium. It is particularly relevant for those aged 35–60 who wish to lock in coverage for short-term needs (like a 5-year loan) with the option to extend without medical checks. It is also suitable for consumers comfortable navigating insurance products independently and who do not require SRS/CPFIS premium payment options. However, budget-conscious buyers seeking the lowest cost per dollar of coverage may find better value in Income Insurance or China Taiping’s direct term offerings.

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.