To keep things clear, if an Insured Person is diagnosed as suffering from any disease which is expected to result in death within the next twelve (12) months, 100% of the sum assured will be paid out. Just make sure that the diagnosis is supported by a specialist consultant from an approved Hospital that’s confirmed by an approved Registered Medical Practitioner.
Long answer short: Yes, term life insurance is more than worth it. Find out if Bubblegum Term Life is suitable to your needs.
For one, it’s a policy that isn’t just for you.
It’s a bubble of protection that secures your family’s financial future should you unexpectedly leave them.
Really affordable and accessible term life insurance, plus it’s super flexible that I can cancel anytime and pay on a monthly basis!
Loved the simple to use app and I am surprised at how fast and easy I could purchase an insurance policy. Look forward to purchasing more when more plans are available on the app.
App is well designed, cute, and easy to navigate! Purchasing the policy was a breeze, and I love how fast it is from start to finish. Policies are also very reasonably priced. For someone in their early 20s who doesn't know much about insurance, the story guides available on the app are super helpful. Looking forward to purchasing the other policies I need from Bubblegum!
In the event of a Death Claim, the law provides for Singlife to pay to the immediate next-of-kin (NOK) or proper claimant up to S$150,000. The payout of the balance of the insurance compensation has to be decided by a Court.
If the deceased had written a Will before his/her death, the family has to engage a lawyer to apply to the Court for a Probate, which may take up to 6 months.
If the deceased did not have a Will before his/her death, he/she would be considered to have died intestate. In such an event the family also has to engage a lawyer to apply to the Court for a Letter of Administration, which may take up to 3 years to resolve.
The Nomination of Beneficiaries framework is not applicable for Bubblegum Term Life which is a group insurance scheme.
Premium increases accordingly for the different age bands upon subsequent renewals. For your ease of reference, please refer to the premium table here: https://www.bubblegum.co/insurance/term-life-premium-table.
You can refer to your policy documents to ensure that your policy is covered under this scheme. You would be able to find the following paragraph towards the end of your documents:
“This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the LIA or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg).”
As long as you have bought your life insurance policy underwritten by an MAS-licensed insurer who is also a PPF Scheme member, you can be assured of protection of up to $500,000 sum assured or $100,000 surrender value on all your whole life, term, and endowment policies. This is aggregated on a per life assured per insurer basis. Bubblegum Term Life Insurance is protected under the Policy Owners’ Protection (PPF) scheme.
As long as you have bought your life insurance policy underwritten by an MAS-licensed insurer, the insurer has stringent capital requirements to comply with and adhere to. It requires an insurer to have financial resources at least equal to or more than the total of their underwriting and investment risks. However, should an insurer still go bankrupt or collapse despite these regulations, there is still protection found under the Policy Owners’ Protection (PPF) Scheme.
If an Insured Member is certified by a Registered Medical Practitioner to be Totally and Permanently Disabled, 100% of the Sum Assured will be paid out in a lump sum. With regards to other group term life insurance products, the sum assured payable in respect of a valid claim could be in annual instalments
An Insured Member who has previously made a claim under the Policy and received part or full payment of the Sum Assured will not be eligible to buy new coverage under the Policy. Any such coverage bought will be deemed void and the Insurer will not be liable to pay any claim under such coverage.
Bubblegum is mobile app built and owned by MoneySmart Financial Pte. Ltd. and acts as a distributor for Singlife, who underwrites this product. Bubblegum will receive commissions when a cover is purchased and issued.
At the moment, this product is only available in Singapore.
You will see a summary of your coverage on the main page. After payment, your policy will be instantly activated, and you can view your policy details in the Bubblegum app.
Term life insurance is the cheapest way to protect your loved ones from financial hardship in case you pass. Term life policies can cover you until you're 70 years old, while whole life insurance covers you for your entire life. Whole life policies build cash value, so they tend to be more pricey.
Term life doesn’t cover death from suicide in the first 12 months of your policy.
Also, we won't cover the claim if any inaccurate or false information was provided when signing up for life insurance.
Rest assured that the sign-up process is simple, clear, and easy, to avoid any confusion.
Yes, your premium will change over the years due to several industry factors. Don’t worry, we’ll let you know beforehand.
Policies start at less than $3.25/mo, though your customized premium depends on several factors, including how much coverage you get, for how long, as well as your age, gender, and health background.
You sure can! There is never any charge for voluntarily canceling your policy. We even offer a 14-day free look period, so you'll get a full refund of your first month's premium if you cancel within the first 14 days. To cancel your policy, you can simply do it on the app.
Your policy will simply expire. If you’d like to get another policy after it expires, you’re welcome to reapply.
One of the things that truly motivates us is using technology to make our customers’ lives better and more enjoyable. We believe that (digitally) asking you about your lifestyle and health provides a sufficient picture of your medical profile to determine if you’re a good fit for the coverage we offer. Do note that it’s extremely important to answer these questions honestly to avoid invalidating your policy.
Bubblegum offers term life insurance. You can apply for a policy that is renewable yearly and lasts until you are 70 years old, with up to $1 million of coverage to help protect your family in the event that you pass.
Sadly, there are factors that affect the approval of your application. Typically they are related to your health background and/or lifestyle.
Anyone between 18 and 50 years old can apply. However, it’s important to note that our term life policy is generally designed for individuals without any history of heart disease, cancer, other life-threatening conditions, or a habit of engaging in high-risk activities, including drug or alcohol abuse, or participating in dangerous sports.
At Bubblegum, we make the application simpler and easier to grasp. Unlike other term life policies, you won’t need to see an agent or doctor before getting your quote. The process is 100% digital, and takes minutes to apply.
Yes, you must be a resident in Singapore and hold a valid citizenship, PR, or long term worker pass
Getting term life insurance is pretty quick and easy. You can do everything online and get your application results in minutes. The best part? There’s no medical examination needed. We just need you to answer some basic questions about your health, and we’ll do the rest.
In the event that something happens to you, we’ll also help you and your beneficiaries with all of the information they would need.
Bubblegum Term Life Insurance is a Group Term Life insurance policy, owned and distributed by Bubblegum and underwritten by Singlife with Aviva. This Group Term Life insurance provides coverage in the event of Death, Terminal Illness or Total and Permanent Disability for members of Bubblegum.
Our term insurance product is monthly renewable. This means that you can renew your policy monthly, or choose to opt out at any time, as long as you continue to be a Bubblegum member. There is no investment component to this policy.
Your spouse or family member would be able to apply for Bubblegum Term Life Insurance through our Bubblegum app. He/she may download the app via https://www.bubblegum.co/ or from the respective mobile app store (Apple Store or Google Play) and purchase his/her own insurance. Currently, the Bubblegum app only allows the purchase of the app user's own insurance policy.
A general rule of thumb is that 9-10x your salary is needed for life insurance. Of course, this still depends on your life, your budget and your total number of dependents. You can calculate your payout amount here.
Any life insurance is surely better than none, but take note that employer-based insurance generally only provides coverage amounting to 1-2 times your salary, which may not be enough for your family’s future financial needs. It is recommended to get an additional term life policy alongside the one you might have through work.
You can pay using your credit or debit card. We’ll charge you the first month’s premium when you finalise your policy, and continue to automatically charge your card on a monthly basis thereafter.