FWD Singapore unveils first participating fund
It plans to encourage customers to invest in a passive income stream.
FWD Singapore officially launched its first participating fund, part of its FWD Life Income Plan.
The participating fund offers cash benefits and offers customers a one-time guaranteed special benefit payout of 6% of the policy’s sum insured, to be paid out during the 25th month.
Other benefits include passive income payouts, change of person insured, and change of policy ownership, flexible payment terms, and financial protection for terminal illnesses or death.
“FWD’s new participating fund builds on the experiences of similar funds launched in the Hong Kong and Thailand markets. Its specialised participating fund team comprises talents with insurance and participating funds management experience.” FWD said in a press release.
PineBride Investments, a private global asset manager, will be the participating fund supervisor.