Written by Singlife | 24 Mar 2021 |
ILPs? What are they?
I-L-P… stands for Investment linked policies, and you might have read or heard of this three letter word during your conversations with friends and family. In this article, we seek to provide a deeper understanding of ILPs and bust some of the myths you might have heard about ILPs.
What is an ILP?
An ILP is an investment-linked plan that offers a dual benefit of financial protection in the form of insurance coverage and growth opportunities for your money. Premiums that you pay are invested by professional fund managers, into a portfolio of your equities and/or bonds, in line with the investment objective of the fund. Your returns will then be pegged to the performance of your selected portfolio. ILPs will also provide you with financial protection in the event of death or terminal illnesses.
What do people believe about ILPs
So, are ILPs the way to invest?
There are various ways to invest and grow your money, and an ILP is one of them. An ILP allows you to earn returns in a way that is simple, and requires minimal effort on your part. As with all investment decisions, do evaluate your risk appetite, financial goals, and do your research!
Grow by Singlife
Grow is a digital ILP that was built to provide flexibility and ease when it comes to investments. Keep track of the portfolio’s performance and move your money easily between our 3 discretionary managed model portfolios, within our Singlife app. Find out more about Grow and kick start your investment journey with us today! Find out more here.
Note that the performance for your Grow portfolio is not guaranteed and the value of the units and the income accrued to the units (if any) may fall or rise.
Grow is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the LIA or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg). This advertisement has not been reviewed by the Monetary Authority of Singapore.