Investment Linked Plan

Singlife Sure Invest: Your Comprehensive Guide to Flexible Investment-Linked Insurance

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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What is Singlife Sure Invest?

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:

  1. Lifelong Coverage : The policy covers you until age 100.
  1. Investment Flexibility : You can choose from a range of ILP sub-funds to invest in.
  1. Death and Terminal Illness Benefits : Provides financial protection for your loved ones.

Key Features of Singlife Sure Invest

Basic Benefits

  • 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

Investment Options

  • Various ILP sub-funds to choose from

  • Each sub-fund invests 100% into an Underlying Fund

  • Free switching between funds

Flexible Premium Options

  • Single Premium : Minimum SGD1,000

  • Recurring Single Premium (RSP) : Minimum SGD100 monthly

  • Ad-hoc Premium : Minimum SGD100 anytime

Partial Withdrawals

  • Up to 95% of account value

  • Minimum withdrawal: SGD1,000

  • Minimum remaining account value: SGD1,000

Full Surrender Option

Terminate the policy anytime and receive the full account value

How Your Investments Work

Unit Allocation

Premiums, minus charges, buy units in chosen ILP sub-funds

Unit Pricing

Daily pricing based on net asset value of Underlying Fund

Switching

Unlimited free switches between funds

Dealing Cut-off Time

12pm on any business day for buying or selling units

Charges to Be Aware Of

Insurance Charge

No cost of insurance for basic benefits

Management Charge

0.25% per quarter of the account value, deducted quarterly

Risks to Consider

  • 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

Why Compare Singlife Sure Invest with other Investment Linked Plan Options through Whatins?

Traditional Approach

  • Limited to one company's fund options
  • Only hear about advisor's preferred funds
  • Single perspective on investment strategy

Whatins Advantage

  • Compare fund options across multiple insurers
  • Get different views on investment strategies
  • See how different advisors approach fund selection
  • Understand varied fee structures

Important Safeguards

Free-Look Period

14 days to review and cancel the policy if unsatisfied

Policy Owners' Protection Scheme

Policy protected under SDIC-administered scheme

Real-Life Scenarios

Growth Scenario

SGD50,000 investment growing at 8% annually could reach about SGD100,000 after 10 years, minus charges

Market Downturn Scenario

SGD50,000 investment might decrease to SGD40,000 in a 20% market downturn, but death benefit protection remains

Partial Withdrawal Scenario

Withdraw SGD10,000 after five years for an emergency, with coverage continuing on the remaining balance

Pros and Cons

Pros

  • Flexibility in investment choices

  • Lifelong coverage until age 100

  • No medical underwriting for basic plan

  • Multiple premium options

  • Liquidity through partial withdrawals

Cons

  • Investment risk borne by policyholder

  • Management charges impact returns

  • Complexity compared to traditional products

Who Is Singlife Sure Invest For?

This plan might be suitable if you:

  • Want life insurance coverage and investment opportunities in one product
  • Are comfortable with some investment risk
  • Value flexibility in your financial products
  • Are looking for a long-term financial solution

Who Might Want to Consider Other Options?

This plan might not be ideal if you:

  • Are looking for guaranteed returns
  • Prefer simpler financial products
  • Need more comprehensive life insurance coverage

Frequently Asked Questions

Can I change my investment mix later?

Yes, you can switch between funds at any time at no extra cost.

What happens if my account value falls below SGD500?

The policy will go into default, with a 60-day window to pay a SGD500 remediation payment.

Can I adjust my recurring premium?

Yes, you can change your RSP amount, subject to a SGD100 monthly minimum.

How often will I receive statements?

Singlife provides semi-annual and annual reports on the ILP sub-funds.

What if I need to surrender the policy early?

You can surrender anytime, but early termination may result in receiving less than total premiums paid.

Conclusion

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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