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Singlife Whole Life
Product Review
5.0
Introduction
Singlife Whole Life is whole life insurance plan with limited premium payment term that provides protection against death and Terminal Illness. It comes with riders to supplement your coverage to financially protect against events of Total and permanent disability, and critical illness (early/Intermediate/Severe stages).
How it Benefits you?

Coverage

  • Flexible choice of limited premium term of 10/15/20/25 or up to age 65 (ANB) to provide for lifetime coverage
  • Choice of additional cover of 100%, 200%, 300% or 400% of base sum assured to boost your coverage
  • Choice of additional cover expiry age: 65/70/75 (ANB)

Benefit

  • Income payout option to supplement your retirement years by receiving a stream of monthly income at the eligible age 

Financial Flexibility

  • Waiver of Interest benefit due to involuntary unemployment
  • Optional Riders to supplement your whole life protection:
    1. Total and Permanent Disability Advance Cover IV
    2. Early Critical Illness Advance Cover V
    3. Critical Illness Advance Cover V
    4. Critical Illness Premium Waiver II

 

What we like about the plan?

1. Singlife Whole Life pays a total of Non-guaranteed Bonus and the Additional coverage during the Additional Coverage period in the event of claim.

 

2. With Early Critical Illness Advance Cover V, you are ensured of comprehensive critical illness coverage. It comes with following  benefits:
- Up to 131 conditions across various critical illness
- Benign and borderline Tumour benefit
- Intensive care benefit
- Special benefit covering 27 conditions

 

3. Income payout option to supplement your retirement income during your golden years, while ensuring you are still covered for lifetime.

 

 

Case Studies

Jane Doe, age 25(ANB), non-smoker is has recently entered the workforce and is looking for a limited premium payment, whole life plan to cover for death and critical illness (all stages). She wishes to have a higher sum assured until 70 (ANB)

 

She buys Singlife Whole Life and adds on three riders with the coverage amount as shown in the table below. She pays an annual premium of $2,611.75 for 15 years only.

 

 

Plan MyWholelife Plan IV TPD Advance Cover IV Critical Illness Advance Cover V Early Critical Illness Advance Cover V
Base Sum Assured (For lifetime) 50,000.00 50,000.00 25,000.00 25,000.00
Additional Cover sum assured – 300% till 70 ANB 150,000.00 150,000.00 75,000.00  75,000.00

 

 

 

1st Claim:
1st
Jane Doe is dianosed with a benign breast tumor. She receives 20% of Early CI Advanced Cover V sum assured
 

 

2nd Claim:
2nd
Jane Doe is dianosed with Early cancers.

She receives the sum assured of $25,000 and additional cover of $75,00 and Non guaranted bonus

At age 65: She decides to exercise her income payout option, and receive a monthly income for a period of 20 years
3rd Claim:
3rd
Jane Doe passes on , and her dependents receive the remain sum assured under the Death benefit

 

 

This product may be unsuitable for you:

If you are looking for an affordable term plan without any participating bonus

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