Singlife’s new whole life plan offers additional cover of up to 400%

The plan also includes a Retrenchment Benefit.

Singlife has launched a new life insurance product, Singlife Whole Life Choice, designed to provide lifelong, customizable protection with flexible options for policyholders. 

This new plan offers a base cover with an additional cover that can reach up to 400% of the base sum assured, lasting until selected ages of 65, 70, 75, 80, or 85. 

The additional cover gradually decreases by 12.5% each year over eight years, aiming to align with rising life expectancies for extended security.

Key features of Singlife Whole Life Choice include the Life Stage Withdrawal Benefit, allowing policyholders to access accumulated reversionary bonuses without fees at major life stages. 

The plan also includes a Retrenchment Benefit, which waives premiums for up to 12 months during periods of unemployment. 

The Guaranteed Extra Protection Option enables increased coverage at key milestones—such as property purchase or family expansion—without additional health checks.

For retirement, the Income Payout Option converts the policy’s cash value into monthly payouts until age 99, ensuring stable retirement income. 

Customers may also add riders for enhanced protection, including a new Early Critical Illness Premium Waiver that eliminates premium payments upon the diagnosis of early to severe-stage critical illnesses.

Singlife Whole Life Choice will replace the existing Singlife Whole Life plan, which will be discontinued after 12 December.