Singlife has introduced the Singlife Heritage Income, a new insurance savings plan aimed at helping individuals preserve and distribute their wealth across generations. This plan, available in both Singapore Dollars (SGD) and United States Dollars (USD), caters to both local and offshore customers seeking structured wealth transfer options whilst maintaining an income stream during retirement.
The plan addresses the growing demand for legacy planning solutions, offering policyholders the ability to receive payouts for up to 150 years. Helen Shen, Group Head of Products at Singlife, highlighted that “four in 10 surveyed want to enjoy their retirement and still be able to leave something for their family as a legacy.” The plan allows for lifelong income whilst preserving wealth for future generations.
Singlife Heritage Income includes features such as the ability to change the life assured multiple times, appoint a secondary life assured, and divide policies into sub-policies for seamless wealth transfer. Policyholders can expect a Yearly Income payout with a Guaranteed Cash Benefit of 3.8% of the sum assured, alongside potential non-guaranteed Cash Bonuses of up to 6.6% annually.
The launch follows the February release of Singlife Legacy Indexed Income, further strengthening Singlife’s suite of wealth and legacy solutions for Asia’s affluent market. With options for monthly or yearly income, loyalty bonuses, and coverage for death and terminal illness, the plan offers flexibility and security in uncertain economic times.
