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Endowment

Introduction

In today's uncertain financial landscape, finding a reliable way to grow your wealth is crucial. Enter Singlife Secure Saver V, a unique single premium endowment plan designed to provide steady growth over a short period. This innovative product offers a guaranteed yield of 3.80% per annum, making it one of the best short-term endowment plans in the market. With Singlife Secure Saver V, you can boost your savings efficiently and securely, ensuring a brighter financial future in just two years.

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Type of Endowment Plan

Singlife Secure Saver V is a single premium non-participating endowment plan. This means you make a one-time lump sum payment at the start of the policy, rather than regular premium payments. As a non-participating plan, it does not share in the profits of the insurance company's participating fund. Instead, it offers a guaranteed return, providing certainty and peace of mind. This type of plan is ideal for those looking for a short-term investment with a fixed, guaranteed return, without the complexities of bonuses or dividends that come with participating policies.

Coverage Customization

Singlife Secure Saver V offers a straightforward and transparent approach to growing your wealth. With its guaranteed benefits and clear terms, you can easily understand and plan your financial growth. Let's explore the key aspects of this endowment plan:

Guaranteed Maturity Benefit

Secure Returns. At the end of the two-year policy term, you'll receive a Guaranteed Maturity Benefit of 107.74% of your single premium. For example, a S$200,000 investment would yield S$215,480 at maturity.

Non-guaranteed Bonuses and Dividends

No Uncertainties. As a non-participating plan, Singlife Secure Saver V does not offer non-guaranteed bonuses or dividends. Your returns are fixed and guaranteed from the start.

Historical Performance

Not Applicable. Since this is a new product with guaranteed returns, historical performance is not a factor. The 3.80% per annum yield is fixed for the policy term.

Factors Affecting Returns

Guaranteed Growth. The returns are not affected by market conditions or company performance. Your 3.80% per annum yield is guaranteed as long as you hold the policy to maturity.

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Riders and Additional Benefits

Singlife Secure Saver V comes with built-in features designed to provide additional security and flexibility. These benefits enhance the value of your policy beyond just savings growth:

Capital Guarantee

Secure Investment. Your capital is guaranteed from the start of the 2nd policy year, ensuring the safety of your principal investment.

Death Benefit

Family Protection. In the event of the Life Assured's death, the policy pays out 105% of the single premium, providing a safety net for your loved ones.

Guaranteed Issuance

Easy Application. You can apply for this policy without undergoing a medical check-up, making the process quick and hassle-free.

Flexible Funding

Investment Options. You can start with a minimum single premium of S$20,000, using either cash or Supplementary Retirement Scheme (SRS) funds.

Surrender Value and Partial Withdrawals

While Singlife Secure Saver V is designed to be held until maturity for optimal returns, life can be unpredictable. Understanding the surrender and withdrawal options is important for making informed decisions about your policy:

Surrender Value Calculation

Early Exit Option. The surrender value, if any, may be zero or less than the total premium paid, especially in the early years of the policy. It's best to hold the policy to maturity to receive the full guaranteed benefit.

Partial Withdrawal Options

Limited Flexibility. The product details do not specify partial withdrawal options. It's designed as a short-term, lump-sum investment to be held for the full two-year term.

Surrender Charges

Potential Costs. Early termination of the policy usually involves high costs. Specific surrender charges are not detailed in the provided information, but they could significantly impact the amount you receive.

Claims and Customer Service

Singlife prioritizes customer satisfaction and ease of service. For claims or any inquiries, policyholders can contact Singapore Life Ltd. directly at their office located at 4 Shenton Way, #01-01, SGX Centre 2, Singapore 068807. You can also reach their customer service team by calling (65) 6827 9933. For more information or to initiate a claim, visit their website at singlife.com. Remember, this policy is protected under the Policy Owners' Protection Scheme administered by the Singapore Deposit Insurance Corporation (SDIC), providing an additional layer of security for policyholders.

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Conclusion

Singlife Secure Saver V is an excellent choice for individuals looking for a short-term, guaranteed investment option. It's particularly suitable for those who have a lump sum to invest and want to see significant growth in just two years. This product is ideal for conservative investors who prioritize capital protection and guaranteed returns over potentially higher but riskier investments. It's also a good fit for those planning for a specific financial goal in the near future, such as a down payment on a property or funding for education.
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