Investment Linked Plan Insurance in Singapore: A Comprehensive Guide for 2024

How Investment Linked Plan Insurance Works in Singapore:

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Key Features of ILPs in Singapore

Dual Purpose

Combines life insurance protection with investment opportunities in a single product.

Flexibility

Allows adjustments to insurance coverage and investment allocations as needs change.

Fund Choices

Offers a range of sub-funds with varying risk profiles and investment strategies.

Transparency

Provides clear breakdown of insurance costs and investment components.

Potential Returns

Opportunity for higher returns compared to traditional life insurance policies, but with increased risk.

Benefits of Investment Linked Plan Insurance in Singapore:

  • Flexibility in coverage and investment allocation

  • Potential for higher returns compared to traditional life insurance

  • Transparency in cost structure and investment performance

  • Ability to switch between sub-funds without incurring additional charges

  • Option to top up investments or make partial withdrawals

  • Customizable insurance coverage with various rider options

  • Opportunity to participate in a diverse range of investment markets

  • Tax benefits on certain withdrawals and payouts

  • Potential for dollar-cost averaging through regular premium payments

  • Suitability for long-term financial planning and wealth accumulation

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Insurance Brands Represented

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12 Best Investment-Linked Insurance Policies in Singapore 2024

  • Great Wealth Advantage 3

    • Up to 55% Welcome Bonus in the first policy year

    • Choice of 3 different investment plans

    • Flexibility to transfer policy ownership or change life assured

  • FWD InvestFirst

    • Fixed total charges to optimize policy value

    • Penalty-free withdrawals from the 25th month

    • Booster Bonus of up to 34% p.a. on initial 5 years of premiums

  • PruVantage Assure

    • Wealth Assure feature locks in highest daily policy value

    • 100% of premiums invested from day 1

    • Up to 50% additional units in the first year as Welcome Bonus

  • Manulife InvestReady Wealth (II)

    • 100% allocation of regular basic premiums to fund units

    • Unlimited free fund switches

    • Welcome bonuses and loyalty bonuses

  • PruVantage Wealth

    • Welcome Bonus of up to 70%

    • Loyalty Bonuses of 0.8% every 8 years

    • Option for regular income through dividend-paying PRULink Funds

  • Singlife Savvy Invest

    • Welcome Bonus of up to 60% in the first policy year

    • Life Stage Benefit for penalty-free withdrawals

    • Stepped-up Loyalty Bonuses ranging from 0.3% to 0.5% annually

  • AIA Pro Achiever 3.0

    • 100% of premiums invested from day one

    • Up to 23% welcome bonus in the first 3 policy years

    • Exclusive access to institutional-grade AIA Elite Funds

  • PruSelect Vantage

    • Up to 100% of premiums invested from day 1

    • Access to curated suite of quality funds

    • Flexibility in premium terms and investment options

  • GE Smart Life Advantage

    • Comprehensive life coverage with adjustable protection

    • Smart Life Guarantee for increased coverage without medical underwriting

    • Dedicated Accumulation Account for regular and ad hoc investments

  • Tokio Marine GoAffluence

    • Up to 296% Initial Bonus in the first two years

    • Flexible premium terms and unlimited premium holidays

    • Enhanced protection benefits including investment protection

  • Tokio Marine gotreasures

    • 100% of paid premiums invested in funds

    • Financial flexibility with premium holidays and partial withdrawals

    • Locked-in Policy Value to protect against market volatility

  • Great Life Advantage 3

    • Up to 300% lifetime coverage against all stages of critical illness

    • Flexible coverage adjustable at key life milestones

    • Free Child Cover Benefit of S$20,000

Investment Linked Plan Insurance for Different Life Stages in Singapore:

Young Adults (20s-early 30s):

Focus on growth-oriented sub-funds. Start with lower coverage and increase over time. Consider riders for critical illness and disability income.

Newly Married Couples:

Balance between growth and moderate-risk sub-funds. Increase coverage to protect spouse and future family. Explore joint ILP policies if available.

Parents with Young Children:

Shift towards more conservative sub-funds. Maximize coverage for family protection. Consider education savings riders or separate ILPs for children.

Established Professionals (40s-50s):

Rebalance portfolio towards income-generating sub-funds. Review and adjust coverage based on accumulated wealth. Explore retirement planning features within ILPs.

Pre-Retirees (50s-60s):

Focus on capital preservation and income-generating sub-funds. Consider reducing coverage if financially secure. Evaluate options for legacy planning within ILP structure.

Retirees (65+):

Emphasize low-risk, income-generating sub-funds. Assess need for continued coverage or conversion to annuity-like payouts. Utilize ILP for estate planning and wealth transfer.

Conclusion

1170+

Suggestions Facilitated

11+

Insurance Brands Represented

154+

MAS Licensed Advisors