Are you looking for a flexible way to secure your financial future and leave a lasting legacy for your loved ones? Singlife Legacy Income might be the solution you've been searching for. This innovative whole life savings insurance plan offers guaranteed payouts and the flexibility to adapt to your changing needs over time . Let's dive deep into what makes this plan unique and how it can benefit you and your family.
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Singlife Legacy Income is a whole life savings insurance plan designed to provide you with guaranteed income for a lifetime, capped at 100 years . It's not just about securing your own future; this plan allows you to create a financial legacy that can span generations. With features like early payouts, increasing guaranteed income, and the ability to change the life assured, Singlife Legacy Income offers a level of flexibility rarely seen in traditional insurance products.
Get your first payout as early as the end of the 13th month (for single premium plans). Other premium payment terms start payouts from the 37th, 61st, or 121st month.
Your guaranteed income increases over time, split into three tiers. Non-guaranteed cash bonuses add to your potential income.
Choose from single premium, 3-year, 5-year, or 10-year payment terms.
Option to change the life assured during the policy term. Allows you to pass the policy benefits to your spouse or children.
Receive 105% of total premiums paid plus non-guaranteed terminal bonus if the life assured reaches the end of the policy term.
Lifelong coverage capped at 100 policy years, regardless of entry age.
Your guaranteed income increases over time in three tiers: br>- Years 1-2: 1.00% of sum assured per annumbr>- Years 3-15: 1.28% of sum assured per annumbr>- Year 16 onwards: 1.37% of sum assured per annum
On top of your guaranteed income, you receive a non-guaranteed cash bonus. For a single premium plan with a 4.25% p.a. illustrated investment rate of return:br>- Years 1-2: 1.35% of sum assured per annumbr>- Years 3-15: 2.16% of sum assured per annumbr>- Year 16 onwards: 2.38% of sum assured per annum
Combining guaranteed income and non-guaranteed cash bonus, you could potentially receive up to 3.75% of your sum assured per year from year 16 onwards .
You can choose to receive your payouts monthly or reinvest them with Singlife for potential growth.
You can change the life assured up to twice for individual policies and unlimited times for corporate-owned policies, subject to certain conditions.
If the policy reaches the end of its term (100 years) without any claims, you receive 105% of total premiums paid plus any terminal bonus.
Guaranteed lifetime income with potential for growth
Flexibility to change life assured
Early payout options
Potential for legacy planning across generations
Additional coverage for death and terminal illness
No medical check-up required
Non-guaranteed portions of payout depend on fund performance
Early termination may result in significant losses
Centennial Benefit only paid if policy reaches 100 years without claims
This plan could be ideal for:
Yes, you can withdraw your reinvested payouts at any time.
Early surrender may result in significant losses . The surrender value may be less than the total premiums paid.
Check with Singlife about options to change payout frequency after the policy starts.
While there's no stated maximum entry age, remember that the policy is capped at 100 years.
Non-guaranteed bonuses depend on the performance of Singlife's participating fund and are not guaranteed.
Singlife Legacy Income offers a unique combination of guaranteed lifetime income, flexibility in legacy planning, and potential for growth . Its ability to adapt to your changing needs over time makes it an attractive option for those looking to secure their financial future and leave a lasting legacy for their loved ones.
However, as with any long-term financial commitment, it's crucial to carefully consider your personal financial goals, risk tolerance, and overall financial plan before making a decision. The non-guaranteed portions of the payouts and the long-term nature of the policy are important factors to keep in mind.
Ready to explore if Singlife Legacy Income is the right fit for your financial future? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on how Singlife Legacy Income could fit into your financial plan. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of how this plan could work for you and ensure you're making the best choice for your financial future. Don't leave your legacy to chance – get the expert advice you deserve today.
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Read the complete transcript of our expert discussion about Singlife Legacy Income. This detailed analysis covers key features, benefits, and important considerations for potential policyholders.
You know that feeling? First proper job here in Singapore, first paycheck hits the bank.
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