Singlife rolls out digital saver plan
Singlife rolls out digital saver plan | Insurance Business Asia
Cyber
Singlife rolls out digital saver plan
New offering aims to simplify wealth growth
Cyber
By
Roxanne Libatique
Financial services firm Singlife has launched the Singlife Digital Saver, a digital short-term endowment plan aimed at facilitating accessible wealth growth for its customers.
The Singlife Digital Saver, a single premium, non-participating endowment plan, is now available for self-purchase through Singlife’s website. It is designed for digital-savvy individuals looking for a low-risk investment option with market-competitive rates.
Singlife Digital Saver’s features
Key features of the Singlife Digital Saver include:
Guaranteed yield of 3.25% per annum: Upon policy maturity at the end of three years, customers will receive a guaranteed maturity benefit amounting to 110.07% of their investment
Seamless self-purchase process: Customers can purchase the plan independently online at any time, using cash or Supplementary Retirement Scheme (SRS) funds, the latter helping avoid immediate cash outlay. This feature particularly benefits senior customers looking to grow their retirement savings while retaining liquidity
Guaranteed issuance: The product does not require health checkups to simplify access for a broad range of customers
Death benefit: In the event of death, the policy provides a payout of 105% of the single premium, adding an extra layer of security
“Today’s digital-savvy consumers value the ability to access insurance solutions readily anytime and anywhere. Singlife Digital Saver offers our customers a convenient and hassle-free means to grow their savings and accumulate wealth. With a guaranteed yield, this short-term insurance savings product provides consumers with a low-risk option to complement their existing portfolio, empowering them to achieve their unique vision of financial freedom,” said Clarence Lin, head of digital and transformation at Singlife.
The Singlife Digital Saver can now be purchased directly through Singlife’s website.
The launch also saw Singlife sign a memorandum of understanding with Dementia Singapore, an organisation committed to supporting individuals affected by dementia through care services, advocacy, and training.
The collaboration would enable Singlife to better educate its financial advisors and employees about dementia.
Related Stories
Keep up with the latest news and events
Join our mailing list, it’s free!
