Term Insurance

Term Insurance
No Medical Exam for
up to HK$4.5m Cover 
Easy online application


3 HK logo Liberty8 HK logo AlliedW1 HK logo Chubb4 HK logo MSIGAIG9 HK logo AXA6 HK logo Zurich5 HK logo Sunlife2 HK logo ctp

Key features for
Term Insurance


 Highest Death Protection per dollar premium

Highest Death Protection per dollar premium

 No medical exam for cover up to $4.5m

No medical exam for cover up to HK$4.5m.*

Premiums as low as HK$237 per month for HK$3m cover

Premiums as low as HK$237 per month for HK$3m cover**

Compare AXA Liberty Sunlife, Zurich on InsureDIY

Compare AXA, Liberty, Sunlife, Zurich on InsureDIY

Why apply for
Term Insurance
through InsureDIY?


InsureDIY offers a fuss-free easy application process for Term Insurance. Instead of going to multiple agents, you can now compare Term Insurance plans through our portal and apply online. If you are applying for a sum assured of up to HK$4.5m, you won't even have to go through a medical examination*!


In addition, InsureDIY works with Term Insurance specialist insurers whose main focus is Term Insurance. These are large mutinational insurers who you can be confident have excellent financial standing.








Who should buy
Life Insurance?


Life insurance provides simple and straightforward death benefit protection without any of the expensive cash value and investment component add-ons. This means that in the event of which you pass away during the term of the policy, the insurer will pay your beneficiaries a specific sum of money. 


Life Insurance is the most basic insurance product that you will need if you have loved ones who are financially dependent on you. Your dependants may include:


  • Children;
  • Spouse who is not working; or
  • Elderly parents who rely on you for an allowance.

Because Life Insurance provides you with the lowest cost insurance coverage that you can find, young working adults should get term insurance as one of their first insurance policies. Life Insurance is valuable and important for people with limited means or savings because of its affordability and the security it can provide.







How much

Life Insurance cover do you need?


Your coverage need will depend on your individual circumstances.


Ask yourself the following questions:


  • How much of the family income do I provide?
  • If I were to die, who will be impacted negatively and how much do they need monthly/yearly? You should consider your spouse, children, grandchildren, parents, grandparents, siblings etc.
  • What about the educational needs of you children? Do you plan to send them overseas for their education?
  • Any outstanding loans (mortgage, auto, credit cards etc)?
  • Any other final expenses (medical bills, burial costs etc)?
  • How will inflation affect the future needs?

A simple starting point is to take a multiple of your annual income and adjust for the factors listed. Typically, insurance experts suggest you buy 5 to 10 times your current annual income.


We strongly suggest you go through our Life Insurance Calculator to figure out a more accurate figure.


Do keep in mind that your family needs will most likely increase over time, especially as you grow older and earn more in the future. What seems like enough today may not be adequate in ten years. It is usually best to purchase an amount you can afford at the present time while at the same time considering your future needs.







Here are some common questions
about Life Insurance

1. I am still young, do I need Term Insurance?


Term products have more strict underwriting requirements as the premiums are very low compared to the benefit provided. This means that you could be rejected or have to pay additional loadings to get cover when you are older and your health has deteriorated. 


If you have anyone who is financially dependent on you, you should consider buying Term Insurance.


2. What is the right policy term for Term Insurance?


Your coverage length will depend on your individual circumstances. Factors you should consider include your age, your spouse's age, your children's ages, and the length of your financial obligations (e.g. mortgage, auto and student loans). You will want to choose a term period that covers all of the above factors.


You may also consider buying multiple term policies with different sum assured and different term period to cover different financial obligations. For example, if you have a five-year old child and you wish to support that child through university or an advanced degree, you need a policy term period of 18 to 22 years.


You may also consider having another term policy that covers your mortgage loans that corresponds to the mortgage tenure. Or you could also consider buying another term policy with a shorter maturity to cover your obligations to your aging parents.



3. What are some of the riders that I can add to a Term Insurance plan?


  • Terminal Illness: pays out the sum assured earlier to you if you are certified by a doctor that you will likely pass away within 12 months.
  • Total and Permanent Disability: pays out the sum assured earlier to you if you are permanently disabled.
  • Waiver of premiums: if you are critically ill, the premiums on the policies are waived.






* For healthy lives aged 45 and below.

** For Male, aged 35. Before IA levy.


InsureDIY Limited is an insurance broker licenced by the Insurance Authority of Hong Kong and is authorised to distribute insurance in Hong Kong.



8-Year Policy Term