Singlife has unveiled the Singlife Legacy Indexed Income, a universal life plan designed to address the increasing demand for retirement security. This plan offers flexible, index-linked income streams with a 0.00% floor rate to ensure no negative returns, alongside a guaranteed 0.7% loyalty bonus from the eleventh policy year. The plan allows policyholders to customise income phases and change the Life Assured up to five times, facilitating legacy planning across generations.
The plan’s income streams are tied to the performance of five global indices, including the S&P 500 and Nasdaq-100, providing growth potential and resilience against inflation. Lu Ping Wong, Head of Savings and Investments at Singlife, highlighted the importance of diverse income streams amidst rising life expectancy and living costs, stating that the plan complements existing retirement income sources like CPF Life payouts.
Additional features include lifelong protection against death and terminal illness, penalty-free partial withdrawals, and guaranteed acceptance without medical underwriting. The plan also offers the option to spread net premiums over 12 months to manage market fluctuations.
Singlife, a prominent financial services company in Singapore, continues to expand its offerings with innovative solutions aimed at enhancing financial security for its customers. The introduction of this plan underscores Singlife’s commitment to providing flexible and robust financial products tailored to evolving consumer needs.
