Singlife introduces a new ILP that offers customers control over coverage length and premium payments.
Singlife has launched Singlife Legacy Invest, a fresh investment-linked plan designed to give policyholders more choice. Unlike most ILPs in Singapore that offer lifelong coverage with fixed long-term premiums, this plan lets customers select coverage terms of 10, 15, 20, or 25 years.
Premiums can be paid as a lump sum or spread out over three, five, or 10 years. This flexibility allows customers to choose shorter financial commitments that suit their needs.
Policyholders can extend their coverage up to age 100 with an extension benefit. The plan uses fixed monthly charges for a limited time and excludes insurance fees for death and terminal illness coverage. This setup may help grow investments more after the charge period ends.
Investors can choose to invest in Singapore Dollars (SGD) or United States Dollars (USD). They also get access to a broad range of funds, including some usually reserved for accredited investors.
The plan includes dividend-paying sub-funds, and customers can opt to receive dividends as cash or reinvest them.
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