Singlife has launched the Singlife Smart Saver, a new savings plan designed to adapt to policyholders’ changing financial needs. Introduced on 23 February 2025, this participating endowment plan offers a range of features aimed at medium- to long-term financial goals, such as funding education, retirement planning, or legacy planning.
The Singlife Smart Saver includes several innovative features. The Life Stage Add-On allows policyholders to enjoy lower premiums on the Singlife Smart Saver Plus, a separate plan with similar benefits, six months after the main policy begins. This feature enables users to build savings for various life events by adding multiple plans as needed.
Another key feature is the Legacy Distribution Option, which allows policyholders to split their policy into multiple sub-policies at no additional cost, facilitating efficient asset distribution. Additionally, the plan offers a Secondary Life Assured option, enabling a loved one to take over the policy if necessary, ensuring continued wealth growth.
The plan also includes a Redundancy Benefit, waiving premiums for up to 12 months in the event of involuntary unemployment. Policyholders can also benefit from a maturity payout and potential bonuses, with 100% capital guaranteed upon policy maturity.
Singlife Smart Saver replaces the Singlife Choice Saver, which will be discontinued from 24 March 2025. Existing policyholders of the Choice Saver will not experience changes in coverage. This new plan underscores Singlife’s commitment to providing tailored financial solutions for Singaporeans. For more details, visit Singlife’s website.
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