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No. Simply fund the policy with S$100 so it becomes in-force, and then maintain a minimum account value of S$100 to keep it in-force.
FAST (Fast and Secure Transfers) or PayNow enables an almost immediate transfer of funds from your bank account to your Singlife Account. Please select FAST or PayNow as the preferred payment method so that your funds reach us promptly. Please note should you choose non-FAST transfers, it will take between five to seven working days for us to receive your payment.
No. You will have to transfer funds from your personal bank account into your Singlife Account.
You can use FAST or PayNow via your personal internet banking account(s) to fund your Singlife Account after completing the account set-up. Details can be found on the Singlife App.
When using FAST (Fast and Secure Transactions) or PayNow, please allow up to three hours for your top-ups to be updated in your Singlife Account. Contact our customer service team if any top-up fails to show up after three hours, and we'll look into it.
You should do it as soon as possible. You can only enjoy the benefits of the Singlife Account after your policy is in-force with an initial premium of S$100 or more.
Your Singlife Account will not be in-force. As such, you won't be able to earn returns or receive the life insurance benefits that come with the Singlife Account.
You can top up your Singlife Account any time after you've successfully applied for the account and funded it with an initial S$100.
Only you can use your personal bank account to fund your Singlife Account. Please ensure that the bank account holder's name matches the Singlife Account policyowner's name. Any mismatch or transfer completed by a third party may lead to follow-up validation checks and/or return of funds to the source.
Notes:
1A daily spending limit is set at S$5,000. An annual spending limit is set at S$30,000 on a 365-day rolling basis.
This webpage is published for information only and Singapore Life Ltd. accepts no liability whatsoever with respect to its use or its contents.
The information contained here is accurate as at Feb 2024.