Endowment

Singlife Secure Saver V: Your Path to Guaranteed Short-Term Growth

In today's uncertain financial landscape, finding a safe and profitable way to grow your money can be challenging. With interest rates fluctuating and market volatility on the rise, many Singaporeans are looking for secure investment options that offer guaranteed returns. If you're one of them, Singlife Secure Saver V might be the solution you've been searching for .

Insurance Calculator

Find the right coverage in minutes

  • Accurate coverage estimates
  • Save time with instant results
  • Personalized recommendations

What is Singlife Secure Saver V?

Singlife Secure Saver V is a single premium non-participating endowment plan designed to provide a steady and guaranteed way to grow your wealth over a short period . This plan offers one of the best guaranteed yields in the market for short-term endowment plans, making it an attractive option for those looking to boost their savings quickly and securely.

Key Features That Make Singlife Secure Saver V Stand Out

Guaranteed High Yield

Offers a guaranteed yield of 3.80% per annum over two years . One of the highest rates available in the market for short-term endowment plans.

Guaranteed Return on Investment

Get back 107.74% of your investment amount at the end of two years.

Capital Guarantee

Your capital is guaranteed from the start of the 2nd policy year.

Hassle-Free Application

Guaranteed issuance without the need for a medical check-up.

Flexible Investment Options

Minimum single premium of S$20,000. Can be funded using cash or Supplementary Retirement Scheme (SRS) funds.

Death Benefit

Pays 105% of the single premium if the Life Assured passes away during the policy term.

Why compare Singlife Secure Saver V with other Endowment options through Whatins?

Traditional Approach

  • Only see one company's projected returns
  • May push higher projections without context
  • Limited comparison of guaranteed amounts

Whatins Advantage

  • Compare guaranteed returns across insurers
  • See how different companies project returns
  • Get multiple views on bonus rate histories
  • Understand different payout structures

In summary: If you want more control and multiple suggestions, then Whatins is the way to go.

How Does Singlife Secure Saver V Work?

Let's break it down with a simple example:

Meet Linda, a 40-year-old professional looking to boost her savings in the short term. She decides to invest S$200,000 in Singlife Secure Saver V.

Here's what happens:

  1. Initial Investment: Linda pays a single premium of S$200,000.
  1. Guaranteed Maturity Benefit: At the end of the second policy year, Linda receives S$215,480 .
  1. Breakdown of the Maturity Benefit:
  • Return of 100% of her capital: S$200,000
  • Guaranteed interest payout: S$15,480
  1. Death Benefit: If Linda were to pass away during the policy term, her beneficiaries would receive S$210,000 (105% of the single premium).

The Math Behind the Magic

Let's break down the numbers to understand the guaranteed yield:

  1. Initial Investment: S$200,000
  1. Maturity Benefit after 2 years: S$215,480
  1. Total Interest Earned: S$15,480

To calculate the annual yield:

(215,480 / 200,000)^(1/2) - 1 = 0.038 or 3.80%

This confirms the guaranteed yield of 3.80% per annum over the two-year period.

Who Is Singlife Secure Saver V For?

Conservative Investors

Those who prioritize capital preservation and guaranteed returns.

Short-Term Savers

Individuals looking to grow their money over a short period (2 years) with certainty.

SRS Account Holders

People who want to maximize their SRS funds with a guaranteed return.

Pre-Retirees

Those nearing retirement who want to secure a portion of their savings with guaranteed growth.

Risk-Averse Individuals

Anyone who wants to avoid market volatility while still earning a competitive return.

Pros and Cons of Singlife Secure Saver V

Pros

  • High guaranteed yield of 3.80% per annum

  • Short commitment period of just 2 years

  • Capital guarantee from the start of the 2nd policy year

  • No medical check-up required

  • Flexibility to use cash or SRS funds

  • Death benefit provides additional protection

Cons

  • Funds are locked in for 2 years

  • Limited potential for higher returns compared to riskier investments

  • Minimum investment of S$20,000 may be high for some

  • Early termination may result in losses

Important Considerations

Before investing in Singlife Secure Saver V, consider the following:

  1. Liquidity Needs : Ensure you won't need the invested funds for the next two years.
  1. Investment Goals : Confirm that this aligns with your short-term financial objectives.
  1. Risk Tolerance : While this is a low-risk product, make sure you're comfortable with the guaranteed return compared to potential returns from other investments.
  1. Diversification : Consider how this fits into your overall investment portfolio.
  1. Future Plans : Think about what you'll do with the funds after the two-year period ends.

Frequently Asked Questions

Is my money safe with Singlife?

Yes, Singlife Secure Saver V is protected under the Policy Owners' Protection Scheme administered by the Singapore Deposit Insurance Corporation (SDIC).

Can I withdraw my money before the two years are up?

Early termination is possible but may result in losses. It's best to commit for the full two-year term.

Are the returns taxable?

For cash investments, the interest is generally not taxable. For SRS funds, withdrawals may be taxable based on prevailing SRS rules.

Can I invest more than the minimum S$20,000?

Yes, you can invest more. Check with Singlife for any maximum investment limits.

What happens after the two-year period?

At maturity, you'll receive your guaranteed maturity benefit. You can then decide to reinvest or use the funds as needed.

Conclusion

Singlife Secure Saver V offers a compelling option for those seeking guaranteed short-term growth in a low-risk environment . With its high guaranteed yield, capital protection, and flexible investment options, it provides a secure way to boost your savings over a two-year period. However, as with any financial decision, it's important to consider your personal financial situation, goals, and risk tolerance before investing.

Remember, while Singlife Secure Saver V offers attractive guaranteed returns, it's always wise to diversify your investments and consider how this product fits into your overall financial plan. If you're unsure, consider seeking advice from a qualified financial advisor who can provide personalized recommendations based on your unique circumstances.

Ready to take the next step? Don't rely on just one perspective. Get expert insights tailored to your unique financial situation. Sign up now to receive 5 expert opinions on short-term endowment plans like Singlife Secure Saver V. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.

Click here to get 5 expert opinions on short-term endowment plans

By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best strategy to grow your wealth securely. Don't leave your financial future to chance – get the expert advice you deserve today.