Are you looking for a way to invest your money while also securing life insurance coverage ? Singlife Sure Invest might be the solution you're seeking. This comprehensive guide will break down everything you need to know about this unique investment-linked insurance plan, helping you make an informed decision about whether it's right for you.
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Singlife Sure Invest is a whole life, single premium investment-linked insurance plan . It's designed to provide you with both life insurance coverage and investment opportunities. Here's what makes it special:
Death Benefit : Higher of 101% of net premiums paid or current account value, less outstanding charges
Terminal Illness Benefit : Full death benefit upon diagnosis
Maturity Benefit : Full account value at age 100
Various ILP sub-funds to choose from
Each sub-fund invests 100% into an Underlying Fund
Free switching between funds
Single Premium : Minimum SGD1,000
Recurring Single Premium (RSP) : Minimum SGD100 monthly
Ad-hoc Premium : Minimum SGD100 anytime
Up to 95% of account value
Minimum withdrawal: SGD1,000
Minimum remaining account value: SGD1,000
Terminate the policy anytime and receive the full account value
Premiums, minus charges, buy units in chosen ILP sub-funds
Daily pricing based on net asset value of Underlying Fund
Unlimited free switches between funds
12pm on any business day for buying or selling units
No cost of insurance for basic benefits
0.25% per quarter of the account value, deducted quarterly
Investment Risk : Returns are not guaranteed and depend on fund performance
Currency Risk : For funds denominated in foreign currencies
Market Risk : Value of investments can fluctuate based on market conditions
14 days to review and cancel the policy if unsatisfied
Policy protected under SDIC-administered scheme
SGD50,000 investment growing at 8% annually could reach about SGD100,000 after 10 years, minus charges
SGD50,000 investment might decrease to SGD40,000 in a 20% market downturn, but death benefit protection remains
Withdraw SGD10,000 after five years for an emergency, with coverage continuing on the remaining balance
Flexibility in investment choices
Lifelong coverage until age 100
No medical underwriting for basic plan
Multiple premium options
Liquidity through partial withdrawals
Investment risk borne by policyholder
Management charges impact returns
Complexity compared to traditional products
This plan might be suitable if you:
This plan might not be ideal if you:
Yes, you can switch between funds at any time at no extra cost.
The policy will go into default, with a 60-day window to pay a SGD500 remediation payment.
Yes, you can change your RSP amount, subject to a SGD100 monthly minimum.
Singlife provides semi-annual and annual reports on the ILP sub-funds.
You can surrender anytime, but early termination may result in receiving less than total premiums paid.
Singlife Sure Invest offers a unique combination of life insurance protection and investment opportunities . Its flexibility and range of options make it an attractive choice for those looking to balance protection and growth potential. However, it's important to carefully consider your financial goals, risk tolerance, and long-term objectives before committing to this plan.
Remember, while the potential for investment growth is appealing, it comes with risks. Always consult with a financial advisor to ensure this product aligns with your overall financial strategy.
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