Singlife’s new endowment plan allows add-on savings

The plan guarantees 100% capital protection at maturity.

Singlife launched a new participating endowment plan, which includes a first-in-the-market feature that allows policyholders to build on their savings plan as their financial needs evolve.

The market-first feature is the Life Stage Add-on, which allows policyholders to purchase additional savings plans with lower premiums six months after their main policy starts.

It also features a Legacy Distribution Option for easy asset distribution, a Secondary Life Assured option to transfer the policy to a loved one, and a Retrenchment Benefit that waives premiums for up to 12 months.

Policyholders will receive a maturity payout with potential bonuses and have the option to use Supplementary Retirement Scheme (SRS) funds for single premium payments.

The plan guarantees 100% capital protection at maturity and does not require medical underwriting.

Singlife Smart Saver replaces Singlife Choice Saver, which will be discontinued on 24 March.

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