When it comes to insurance in Singapore, most people immediately think of big names like AIA, Prudential, or Great Eastern. These established insurers have built strong reputations over the years with their wide range of products, impressive financial strength, and heavy marketing presence. Naturally, they become the default choices for many when considering life insurance, critical illness coverage, or savings plans.
However, beyond these well-known giants lies a growing group of lesser-known insurers and hidden gem plans that deserve just as much, if not more, attention. Some of these emerging or boutique players offer stronger benefits, better value, or more flexible options that are better suited to today’s evolving financial needs. Whether it’s through digital innovation, no-frills product structures, or attractive premiums, these alternative providers are carving out a loyal following among savvy consumers who are willing to explore beyond the traditional names.
As we head into a state of uncertainty, now is a great time to reassess your insurance portfolio and discover these underrated options. With new products being launched and older plans updated with better features, it’s possible to secure greater protection, higher returns, or lower costs; simply by looking a little deeper.
In this guide, we highlight some of the best hidden gem insurance plans and super value-for-money options available today. Whether you’re buying your first policy, enhancing your existing coverage, or planning for the long-term, these plans are well worth considering before making your next insurance decision.
Lesser-Known Insurers Worth Noticing
China Taiping Insurance Singapore
While China Taiping is one of the oldest Chinese insurers globally, it remains relatively unknown among everyday Singaporeans. Their savings plans, such as i-Save and Infinite Harvest, feature high guaranteed returns compared to many popular brands. These plans are ideal for conservative savers looking for mid-to-long-term guaranteed growth without taking on too much risk.
Etiqa Insurance
A partnership between Maybank and Ageas, Etiqa has gained popularity for its fast online claims process—especially for travel and car insurance. Their Direct Purchase Insurance (DPI) products offer affordable, easy-to-buy options with no agent commissions, making them great for cost-savvy consumers. Etiqa also provides strong offerings in term life insurance and investment-linked plans (ILPs).
FWD Insurance
A newer player in Singapore since 2016, FWD stands out with its 100% digital claim process and no-paperwork approach. They offer some of the cheapest cancer insurance and direct-term life plans on the market. Many policies allow applicants to skip medical underwriting, making it easier for those who might otherwise face rejection elsewhere.
Singlife with Aviva
Now more recognised, Singlife still flies under the radar compared to older players. Their Singlife Account acts like a high-interest savings account with added life protection benefits. Their term life insurance plans also feature flexible upgrade options without the need for new health checks, making them practical for growing families.
India International Insurance (III)
With a long history in Singapore, III specializes in corporate general insurance (like marine, fire, and work injury) but also offers affordable personal insurance. For small business owners or individuals seeking budget-friendly coverage, III is a strong, if overlooked, choice.
Hidden Gem Insurance Plans
Beyond the insurers themselves, certain specific plans offer exceptional value and deserve more attention from Singaporeans who want quality coverage without overpaying. These hidden gems are often overlooked simply because they are not heavily advertised, but they can offer stronger benefits, more flexibility, and better pricing compared to mainstream options.
FWD Cancer Insurance
FWD Cancer Insurance is a standout for those looking for straightforward and affordable protection against one of the most common critical illnesses today. This plan offers 100% lump sum payout upon cancer diagnosis, covering early, intermediate, and late stages. The application process is simple — many applicants only need to complete a basic health declaration without undergoing any medical check-ups. This makes it especially attractive for individuals who might have minor health concerns or who want quick, hassle-free coverage at a low monthly premium.
Etiqa ePROTECT Term Life Insurance
For those seeking essential life protection without breaking the bank, the Etiqa ePROTECT Term Life Insurance is an excellent choice. It is a direct purchase product available online, meaning there are no agent commissions — resulting in significantly lower premiums. With flexible coverage amounts of up to $2 million, applicants can tailor their protection according to their needs. The entire application can be completed digitally in under 10 minutes, making it ideal for busy working adults who want efficient, affordable protection.
Singlife Account
The Singlife Account is an innovative hybrid between a high-interest savings account and a basic insurance plan. It allows users to grow their savings with attractive returns (historically up to 2–3% p.a.) while offering life protection benefits — up to 105% of the account value in case of death. There is no lock-in period, meaning funds can be withdrawn at any time without penalties. This makes it a smart option for those who want liquidity, steady returns, and basic insurance coverage bundled into one flexible product.
China Taiping i-Save Plan
For conservative savers who want better returns than banks without taking on high risk, the China Taiping i-Save Plan is a hidden treasure. It is a short-term endowment plan, typically spanning just three years, and offers guaranteed returns that often surpass fixed deposit rates. Importantly, no health check-ups are required for application, making it an accessible option for a wide range of savers, including older individuals. It’s a good fit for those who want a predictable, safe place to park their money over a relatively short period.
Manulife ReadyProtect
Manulife ReadyProtect is a comprehensive protection plan that goes beyond just critical illness or hospitalisation coverage. It combines protection against infectious diseases, personal accidents, hospitalisation, and even mental health conditions under one umbrella. The plan also includes daily hospital cash payouts to help offset incidental expenses during hospital stays. For individuals who want wide-ranging, all-in-one protection without managing multiple policies, ReadyProtect offers strong value and convenience.
Tokio Marine TM Protect 1
If you are looking for affordable term insurance with room for customisation, Tokio Marine TM Protect 1 is worth considering. It offers simple, straightforward term life coverage at competitive pricing, often cheaper than offerings from the more famous insurers. Moreover, it gives policyholders the option to add critical illness riders to strengthen their protection. This flexibility allows individuals to build a tailored protection plan that suits their evolving needs, without overpaying for bundled features they might not want.
Value-for-Money Insurance Plans
Looking at 2025 specifically, several insurance products truly stand out by offering strong coverage, flexible terms, and excellent value for the premiums paid. Whether you’re starting your protection journey, enhancing your existing portfolio, or planning for the long term, these plans deliver some of the best “bang for your buck” options available in Singapore right now.
Income Insurance TermLife Solitaire
Income Insurance TermLife Solitaire is designed for those who want serious protection without paying a fortune. It offers very competitive premiums, especially for large sums assured of $500,000 and above. You can also customise your coverage with optional critical illness riders to enhance your protection against major health risks. Being backed by Income Insurance, a reputable local brand with a strong history of claims payouts, adds extra peace of mind to this already solid value package.
AIA Absolute Critical Cover
AIA Absolute Critical Cover provides broad and flexible protection against critical illnesses, covering early, intermediate, and major stages of illness. It allows for multiple claims across different categories of illnesses, ensuring continuous protection even after a claim. Premiums are guaranteed and locked in from the start, making it an excellent choice for young adults who want to secure affordable rates while they’re still healthy.
Singlife Whole Life (Participating Plan)
The 2025 edition of the Singlife Whole Life Plan brings updated returns and greater customisation options. Policyholders can choose to pay premiums over 5, 10, or 15 years while enjoying lifetime coverage. This flexibility makes it ideal for legacy planning, wealth transfer, or simply ensuring your loved ones are financially secure for decades. The participating policy structure also gives you access to potential bonuses on top of the guaranteed coverage.
FWD Life Protection Plus
FWD Life Protection Plus is made for the digital generation. It offers high sum assured at a lower premium compared to traditional insurers, with a 100% digital application process that cuts down on paperwork and waiting time. Critical illness and total permanent disability riders are available for added protection. It’s perfect for tech-savvy individuals who prefer convenience and transparency without sacrificing quality coverage.
Etiqa Essential Critical Illness Plus
Etiqa Essential Critical Illness Plus offers straightforward and affordable critical illness protection. It covers 37 major illnesses at a highly competitive premium. As a direct purchase insurance (DPI) option, it eliminates agent commissions, keeping costs low for consumers. It’s particularly suitable for those who want simple, no-frills protection without navigating through complicated sales pitches.
Great Eastern GREAT Family Care
GREAT Family Care by Great Eastern is a unique plan designed to protect not just yourself but also your parents. It offers critical illness coverage for parents aged between 40 and 85, something that’s rare in traditional insurance products. This bundled coverage approach is cost-effective, especially compared to buying separate plans for elderly parents, who usually face much higher premiums.
Tokio Marine TM Term Assure II
Tokio Marine TM Term Assure II offers flexible term coverage options — you can choose 5, 10, 15, or 20 years, or coverage up to a certain age like 65 or 75. One of its biggest advantages is the ability to convert to a whole life plan later without needing a new medical check-up. This future-proof feature is ideal for young policyholders who may want simple, affordable protection now and richer, more permanent protection later.
Manulife ReadyBuilder
The latest version of Manulife ReadyBuilder continues to shine for disciplined savers. It offers a guaranteed cash bonus structure and has improved projected returns following regulatory updates in 2025. This makes it appealing for individuals who want to build up their savings steadily while also gaining insurance protection along the way. It’s a practical way to balance growth, security, and liquidity.
Prudential PRUShield Plus (Integrated Shield Plan)
For those focused on hospitalisation and medical coverage, Prudential PRUShield Plus remains one of the top-tier choice. It provides extensive hospitalisation coverage, access to a strong panel of specialists, and a reputation for transparent and fair claims processing. When paired with a rider, it can give near full-coverage for stays at private hospitals or A-class wards in public hospitals — ideal for people who prioritise quality healthcare access.
HSBC Life Protect Advantage II
HSBC Life Protect Advantage II combines solid life protection with wealth accumulation bonuses, making it a premium but worthwhile investment. Policyholders who stay committed long-term (typically 20 years or more) can enjoy significant bonuses in addition to basic coverage. It’s especially attractive to higher-income individuals who want both financial protection for their families and meaningful growth on their premiums paid.
Need help choosing the right insurance plan?
Big insurance companies often grab the spotlight, but smaller insurers and lesser-known plans can sometimes offer better value, faster service, and more creative coverage options. Whether you’re a young professional, a business owner, or planning for your family’s future, 2025 brings a wide range of insurance choices that balance affordability, strong benefits, and flexibility.
Instead of focusing only on brand names, look at the real value each plan offers. You could save thousands while getting better protection that fits your needs. Let our experienced agents give you an unbiased policy review – and help you make a smarter, more confident decision for your future.
Disclaimer
Every effort has been made to ensure the accuracy of the information provided, but no liability will be accepted for any loss or inconvenience caused by errors or omissions. The information and opinions presented are offered in good faith and based on sources considered reliable; however, no guarantees are made regarding their accuracy, completeness, or correctness. The author and publisher bear no responsibility for any losses or expenses arising from investment decisions made by the reader.
