Singlife unveils life insurance plan without lifelong premium commitment

It offers a coverage plan until the age of 99. 

Singlife announced the launch of their Elite Term II (Limited Pay), a life insurance plan designed for people seeking financial protection without lifelong premium commitments.

“Offering coverage until age 99, the plan also serves as a legacy tool to ensure that loved ones are well taken care of upon the life assured’s passing,” said Helen Shen, group head of Life and Health, Singlife.

Singlife Elite Term II will offer a longevity reward where policyholders receive 100% of the total base plan premiums upon reaching the end of the coverage term. 

A surrender benefit is also available in case the policyholder decide to surrender their policy from the third policy year.