Singlife Elite Term II Offers New Limited Pay Option

Leading homegrown financial services company Singlife today announces the launch of Singlife Elite Term II (Limited Pay), a flexible term life insurance plan designed for individuals seeking financial protection without lifelong premium commitments.

Policyholders only need to pay premiums for a chosen period while enjoying coverage until age 99. They and their dependents will receive a lump sum payout in the event of death or terminal illness. 

Unlike many other term plans which do not offer any returns or benefits if the life assured outlives the policy term, Singlife Elite Term II (Limited Pay) offers a longevity reward where policyholders receive 100% of the total base plan premiums upon reaching the end of the coverage term. Additionally, a surrender benefit is available should the policyholder decide to surrender their policy from the third policy year.

“At Singlife, we continuously strive to enhance our offerings to better meet our customers’ needs. We have introduced a new limited pay option for our Singlife Elite Term II suite to give customers more flexibility in managing their premium payments and additional benefits. Offering coverage until age 99, the plan also serves as a legacy tool to ensure that loved ones are well taken care of upon the life assured’s passing,” said Helen Shen, Group Head of Life and Health, Singlife.

Singlife Elite Term II (Limited Pay) is available alongside Singlife Elite Term II (Regular Pay) which was launched in March 2024.

Product terms and conditions apply. More information can be found here: https://singlife.com/en/life-insurance/elite-term-ii