Life Insurance

Compare Term Life Insurance Premium of Different Insurers

Speaking of the attractiveness of term life insurance, the insured could obtain higher coverage than whole life insurance with affordable premiums. Even though the terms of the life insurance plans in the market could be similar, the monthly premium may differ. Let Bowtie compare the premiums of 4 insurance companies that offer online applications in Hong Kong and help you seek the most affordable term life insurance product.
Author Bowtie Team
Date 2021-11-17
Updated on 2021-11-23
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Premium of 18-30-year-old malePremium of 18-30-year-old femalePremium of 31-40-year-old malePremium of 31-40-year-old femalePremium of 41-50-year-old malePremium of 41-50-year-old femalePremium of 51-60-year-old malePremium of 51-60-year-old femaleBowtie premium calculatorOther factors which affect premiumBowtie Term Life offers

Comparison of the monthly premium of 18-30-year-old male

Age Bowtie Term Life 💰 Insurer A 💰💰 Insurer B Insurer C
18 HK$37 HK$67.5 HK$46.67 HK$55.96
19 HK$43 HK$67.5 HK$49.17 HK$56.67
20 HK$46 HK$67.5 HK$50 HK$56.67
21 HK$49 HK$67.5 HK$50 HK$56.76
22 HK$50 HK$67.5 HK$50 HK$56.76
23 HK$49 HK$67.5 HK$50 HK$56.76
24 HK$48 HK$67.5 HK$50 HK$56.76
25 HK$47 HK$67.5 HK$50 HK$56.76
26 HK$44 HK$67.5 HK$50 HK$57.56
27 HK$41 HK$68.4 HK$50 HK$58.46
28 HK$40 HK$69.3 HK$50 HK$60.06
29 HK$38 HK$72 HK$50 HK$62.66
30 HK$38 HK$73.8 HK$50 HK$65.17
  • *Assuming the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • The listed premiums are priced before special offers
  • 💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Comparison of the monthly premium of 18-30-year-old female

Age Bowtie Term Life 💰 Insurer A 💰💰 Insurer B Insurer C
18 HK$24 HK$60.3 HK$26.67 HK$47.55
19 HK$24 HK$60.3 HK$26.67 HK$47.55
20 HK$25 HK$60.3 HK$26.67 HK$47.55
21 HK$25 HK$60.3 HK$26.67 HK$49.25
22 HK$26 HK$60.3 HK$26.67 HK$49.25
23 HK$26 HK$60.3 HK$26.67 HK$49.25
24 HK$27 HK$60.3 HK$26.67 HK$50.05
25 HK$27 HK$60.3 HK$27.5 HK$50.05
26 HK$27 HK$60.3 HK$29.17 HK$51.75
27 HK$27 HK$61.2 HK$30.83 HK$52.55
28 HK$28 HK$61.2 HK$32.5 HK$53.45
29 HK$28 HK$61.2 HK$33.33 HK$55.06
30 HK$29 HK$62.1 HK$34.17 HK$55.96
  • *Assuming the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • The listed premiums are priced before special offers
  • :💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Comparison of the monthly premium of 31-40-year-old male

Age Bowtie Term Life 💰 Insurer A Insurer B Insurer C
31 HK$40 HK$76.5 💰💰 HK$50 HK$69.27
32 HK$42 HK$78.3 💰💰 HK$50 HK$71.77
33 HK$45 HK$81 💰💰 HK$51.67 HK$75.98
34 HK$49 HK$84.6 💰💰 HK$54.17 HK$80.98
35 HK$53 HK$89.1 💰💰 HK$54.17 HK$85.99
36 HK$56 HK$92.7 💰💰 HK$56.67 HK$91.79
37 HK$59 HK$97.2 HK$60.83 HK$97.7 💰💰
38 HK$62 HK$102.6 HK$66.67 HK$103.5 💰💰
39 HK$65 HK$108 HK$72.5 HK$111.01 💰💰
40 HK$68 HK$116.1 HK$80 HK$119.42 💰💰
  • *Assuming that the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • The listed premiums are priced before special offers
  • 💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Comparison of the monthly premium of 31-40-year-old female

Age Bowtie Term Life 💰 Insurer A Insurer B Insurer C
31 HK$31 HK$63 💰💰 HK$35 HK$57.76
32 HK$32 HK$64.8 💰💰 HK$35.83 HK$60.06
33 HK$35 HK$66.6 💰💰 HK$37.5 HK$61.76
34 HK$38 HK$72 💰💰 HK$39.17 HK$65.17
35 HK$40 HK$76.5 💰💰 HK$41.67 HK$67.67
36 HK$42 HK$77.4 💰💰 HK$45 HK$70.97
37 HK$44 HK$78.3 💰💰 HK$48.33 HK$75.18
38 HK$45 HK$79.2 HK$51.67 HK$79.28 💰💰
39 HK$47 HK$80.1 HK$55 HK$84.28 💰💰
40 HK$48 HK$84.6 HK$56.67 HK$90.99 💰💰
  • *Assuming that the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • The listed premiums are priced before special offers
  • 💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Comparison of the monthly premium of 41-50-year-old male

Age Bowtie Term Life 💰 Insurer A Insurer B Insurer C 💰💰
41 HK$75 HK$125.1 HK$87.5 HK$126.93
42 HK$82 HK$134.1 HK$95 HK$136.94
43 HK$90 HK$144.9 HK$101.67 HK$147.75
44 HK$99 HK$156.6 HK$109.17 HK$159.46
45 HK$108 HK$170.1 HK$115 HK$172.77
46 HK$115 HK$184.5 HK$125 HK$186.99
47 HK$123 HK$201.6 HK$136.67 HK$204.5
48 HK$132 HK$220.5 HK$148.33 HK$221.22
49 HK$141 HK$240.3 HK$163.33 HK$242.94
50 HK$152 HK$262.8 HK$180 HK$267.17
  • *Assuming that the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • The listed premiums are priced before special offers
  • 💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Comparison of the monthly premium of 41-50-year-old female

Age Bowtie Term Life 💰 Insurer A Insurer B Insurer C 💰💰
41 HK$53 HK$90 HK$60.83 HK$101
42 HK$58 HK$95.4 HK$64.17 HK$109.41
43 HK$63 HK$101.7 HK$68.33 HK$118.52
44 HK$69 HK$109.8 HK$72.5 HK$128.53
45 HK$75 HK$117.9 HK$78.33 HK$141.94
46 HK$82 HK$126 HK$85.83 HK$157.76
47 HK$89 HK$135.9 HK$94.17 HK$172.77
48 HK$96 HK$145.8 HK$103.33 HK$186.99
49 HK$104 HK$157.5 HK$113.33 HK$205.41
50 HK$113 HK$170.1 HK$124.17 HK$226.23
  • *Assuming that the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • The listed premiums are priced before special offers
  • 💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Comparison of the monthly premium of 51-60-year-old male

Age Bowtie Term Life 💰 Insurer A Insurer B Insurer C#
51 HK$167 HK$287.1 HK$205 HK$296.4 💰💰
52 HK$184 HK$313.2 HK$225 HK$326.43 💰💰
53 HK$204 HK$341.1 HK$255.83 HK$358.96 💰💰
54 HK$226 HK$373.5 💰💰 HK$282.5 HK$329.73
55 HK$251 HK$408.6 HK$320 HK$442.44 💰💰
56 HK$285 HK$447.3 HK$360 HK$489.19 💰💰
57 HK$324 HK$489.6 HK$399.17 HK$539.34 💰💰
58 HK$367 HK$536.4 HK$444.17 HK$596.1 💰💰
59 HK$417 HK$589.5 HK$485.83 HK$666.17 💰💰
60 HK$472 HK$648 💰💰 HK$546.67

/

  • *Assuming that the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • #For insurance company C, the insured must be under 59-year-old.
  • The listed premiums are priced before special offers
  • 💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Comparison of the monthly premium of 51-60-year-old female

Age Bowtie Term Life 💰 Insurer A Insurer B Insurer C# 💰💰
51 HK$122 HK$184.5 HK$135 HK$252.15
52 HK$133 HK$201.6 HK$145 HK$276.38
53 HK$144 HK$219.6 HK$156.67 HK$299.7
54 HK$156 HK$239.4 HK$169.17 HK$399.1
55 HK$170 HK$261.9 HK$183.33 HK$362.36
56 HK$185 HK$285.3 HK$203.33 HK$399.9
57 HK$201 HK$312.3 HK$222.5 HK$440.84
58 HK$218 HK$342.9 HK$245 HK$487.59
59 HK$237 HK$378 HK$272.5 HK$536.84
60 HK$258 HK$417.6 💰💰 HK$306.67

/

  • *Assuming that the insured is a non-smoker and the sum assured of term life insurance is HK$1,000,000
  • #For insurance company C, the insured must be under 59-year-old.
  • The listed premiums are priced before special offers
  • 💰 refers to the most affordable choice, 💰💰 refers to the most expensive choice
  • The above premiums were referenced from the official websites of respective insurance companies on October 29, 2021. The insurance companies may update the premiums from time to time. Please refer to the official website for the actual quotes.

Bowtie premium calculator

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  • The monthly premiums above are for reference only. The actual premiums are affected by time, inflation, underwriting, Insurance Authority levies and other factors.

Other factors which affect premium

Apart from the personal factors of age, smoking habit, and health condition, the premium of term life insurance could differ depending on the general environment.

For example, new medicine develops through medical and technological advances. Some diseases used to be incurable might have a chance to be treated.The average human lifetime could extend, hence the premium of life insurance might decrease.

Besides, if natural disasters happen frequently, or variant viruses become more and more common. These could bring fatal risks to human life, which leads to an increase in premiums of life insurance.

In addition, the payment method could also affect life insurance premiums. Currently, monthly and yearly payments are the most common payment plans among insurance companies.  Generally, when an insured takes a lump sum payment for a higher premium, he/she could have special offers. Therefore, for most companies, the yearly payment of premium would be more affordable than the monthly payment.

Meanwhile, you should consider the renewable year of the policy. Assuming that your life insurance requires a yearly renewal, at the early stage of the application, the premium would be cheaper compared to the renewal plan after every 5 or 10 years. Because the premium of yearly renewal would only consider the risks for the coming one year, the premium would be relatively lower. For details, you may refer to the following case: 

Monthly premium

5 years 10 years 20 years
Insurance company A HK$89.1 HK$90 HK$128.7

Although the pricing of term life insurance is similar, the operation cost of each insurance company could be different. Thus the premium may differ between the companies. As the first virtual insurance company, Bowtie saves the administrative costs and minimizes the cost to return to the insured, ensuring Hong Kong people enjoy higher coverage at affordable prices. Therefore, Bowtie only provides monthly payment plans. Compared to other insurance companies, the premium of Bowtie Term Life owns the most affordable pricing.

  • *Assuming that the insured is a 35-year-old non-smoker male and the sum assured of life insurance is HK$1,000,000

Bowtie Term Life offers

Insurance Plan Bowtie Term Life
Product features ✨ For a policy with HK$1 million sum assured, the monthly premium can be as low as HK$24
✨The coverage amount is 40x higher than general saving life insurance products under the same premium
✨No saving component, no chains
Promo code FREE11
​​Monthly fee waiver 11 months#
Due date 30/11/2021
Note New customers who successfully apply for Bowtie Term Life before November 30, 2021 can enjoy 11-month premium waiver#. Click here for details.
  • #Customers may enjoy premium waiver from the 2nd to 12th months after the policy becomes effective. Offers are subject to relevant terms and conditions.
Source
  • 1Insurance Authority
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