I noticed that the amount of premium I was paying for my Singlife Group Term Life and Personal Injury plan dropped significantly in January 2023 and realized that the premiums have dropped. It is strange that no announcement was made that the premiums have dropped. I don’t have the old policy documents to compare the differences between the policy wordings, if any. This article is just to record the reduction in premiums. I also noticed that Group Term Life policy is GST exempted while the Group Personal Injury policy has GST charged but is not included in the premium listed.
Disclaimer: This is not an endorsement of Singlife’s Group policies.
Group Term Life Monthly Premiums From January 2023
For the same coverage, the monthly premiums for the Group Term Life dropped by 39% across the board for ages 65 and below.
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Singlife MINDEF & MHA Group Term Life |
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| Coverage (S$) | Premium Before JAN 2023 (S$) |
Premium After JAN 2023 (S$) |
| 100,000 | 4.10 | 2.50 |
| 200,000 | 8.20 | 5.00 |
| 300,000 | 12.30 | 7.50 |
| 400,000 | 16.40 | 10.00 |
| 500,000 | 20.50 | 12.50 |
| 600,000 | 24.60 | 15.00 |
| 700,000 | 28.70 | 17.50 |
| 800,000 | 32.80 | 20.00 |
| 900,000 | 36.90 | 22.50 |
| 1,000,000 | 41.00 | 25.00 |
As for the monthly premiums for aged 66 – 70, they dropped by 40%. The premium rises sharply from 66 years old onwards so I believe most of us should have cancelled the policy by then. I will just list the premiums for S$100,000 coverage and you can extrapolate from there as the increase is linear.
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Singlife MINDEF & MHA Group Term Life S$100,000 Coverage |
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| Age | Premium Before JAN 2023 (S$) |
Premium After JAN 2023 (S$) |
| 66 | 58.80 | 35.30 |
| 67 | 66.70 | 40.10 |
| 68 | 80.50 | 48.30 |
| 69 | 95.60 | 57.40 |
| 70 | 106 | 63.60 |
Group Personal Injury Monthly Premiums From January 2023
For the same coverage, the monthly premiums for the Group Term Life dropped by 50%
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Singlife MINDEF & MHA Group Personal Injury |
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| Coverage (S$) | Premium Before JAN 2023 | Premium After JAN 2023 |
| 100,000 | 1.00 | 0.50 |
| 200,000 | 2.00 | 1.00 |
| 300,000 | 3.00 | 1.50 |
| 400,000 | 4.00 | 2.00 |
| 500,000 | 5.00 | 2.50 |
| 600,000 | 6.00 | 3.00 |
| 700,000 | 7.00 | 3.50 |
| 800,000 | 8.00 | 4.00 |
| 900,000 | 9.00 | 4.50 |
| 1,000,000 | 10.00 | 5.00 |
TL, DR
Singlife reduced premiums for MINDEF & MHA Group Insurance from January 2023 onwards. Group Term Life premiums dropped by 39% while Group Personal Injury premiums dropped by 50%.
My premium last year around Sept did not drop.
I guess i will only see this difference in like 9 months?
Hi honest_me,
as far as I know, the premiums are deducted monthly. My premiums dropped this month from S$6+ to S$3+.
Is your insurance the army/mha insurance that was transferred from aviva to singlife some time ago? Or is it something else?
https://singlife.com/en/mindef-and-mha
Its transferred from aviva to singlife. does that make a difference? Im paying on a annual basis.
Hi honest_me,
I suspect that if you paid yearly, you might only get to pay the reduced amount at the next renewal.
I suggest you write in to Singlife and ask about it for the most accurate information. Perhaps you can try to ask them for a rebate since the premiums have since dropped. If you don’t mind, could you share what Singlife says so that everyone can learn more about the situation? Thanks!