Singlife launches investment-linked plan with flexible premium options

Premium payments can be made via a lump-sum or over three, five, or 10 years.

Singlife has introduced Singlife Legacy Invest, a new investment-linked plan (ILP) designed to give policyholders more flexibility in choosing their coverage duration and premium payment terms.

Unlike traditional ILPs in Singapore that typically offer lifelong coverage with long-term regular premiums, Singlife Legacy Invest offers customers the choice of coverage terms of 10, 15, 20, or 25 years. 

Premium payments can be made via a lump-sum or over three, five, or 10 years, allowing for shorter-term financial commitments. 

Policyholders may also extend their coverage up to age 100 through an extension benefit.

The plan applies fixed monthly charges for a limited period and does not include insurance charges for death and terminal illness coverage, potentially increasing investment growth after the charge period ends. 

Policyholders can invest in Singapore Dollars (SGD) or United States Dollars (USD), and have access to a wide range of funds, including those typically available only to accredited investors. 

The plan also offers dividend-paying sub-funds, with customers given the option to receive dividends in cash or reinvest them.