Singlife has unveiled the Singlife Heritage Reserve, a USD-denominated whole of life insurance plan aimed at affluent individuals seeking long-term wealth accumulation and succession planning. The plan, launched on 23 September, is designed to address the growing demand for wealth continuity and legacy planning across Asia, offering a policy term of up to 388 years.
The Singlife Heritage Reserve provides a range of features to support wealth preservation and transfer. These include potential growth through a participating fund, flexible succession options such as policy splitting, and liquidity access without policy surrender. Withdrawals and benefit payments can be made in six currencies, including SGD, USD, and GBP.
Helen Shen, Group Head of Products at Singlife, highlighted the importance of planning for wealth transfer as affluence grows. “Increasingly, affluent individuals are looking beyond accumulation towards legacy and succession, seeking ways to preserve, manage and transfer wealth across generations,” she stated.
The plan’s features are tailored to meet the needs of families with evolving ownership arrangements and legacy objectives. It includes options for wealth transfer upon death and liquidity access through the Bonus Access Option and Care Support Income Option.
Singlife, a key player in the financial services sector, continues to expand its offerings to meet diverse customer needs. With over S$16 billion in assets, the company remains committed to providing innovative solutions for financial freedom. For more details on the Singlife Heritage Reserve, visit their website.
