Can I continue to use my Singlife Account after a claim is paid out for terminal illness?

Your Singlife Account will be terminated upon the payment of a terminal illness claim. 

Do I need to renew my Singlife Account policy?

The Singlife Account policy is an annual plan that automatically renews every year up to the policy anniversary immediately following your 100th birthday.

How do I nominate a beneficiary, or beneficiaries?

You must complete the prescribed nomination form and submit the original completed version to us for registration.

Click here to download the form.

Related FAQ: Your Guide to the Nomination of Insurance Nominees 

Is it true that I can access my money anytime?

Yes. You have access to your savings at any time through the Singlife App. This comes with no lock-in. However, you may be subjected to daily withdrawal limits.

Is my Singlife Account insurance coverage guaranteed for whole of life?

The insurance coverage is not guaranteed for whole of life, as we reserve the right to terminate your policy on any policy anniversary, after giving you 30 days’ notice.

Is my capital guaranteed with the Singlife Account?

Yes. The Singlife Account is a capital-guaranteed insurance savings plan. If you withdraw all your money or surrender your Singlife Account policy, you'll get back what you've put into the account (less the sum of your total withdrawals/spend).

Is there a minimum account value?

The minimum account value is S$100. There will be no returns or benefits with your Singlife Account policy if this value falls below S$100.

What does “account value” mean in my Singlife Account?

"Account Value" is the nett value of your Singlife Account, after taking into consideration all premiums, withdrawals and interest credited.

What happens to my Singlife Account if I’m diagnosed with a terminal illness, or pass away?

Your insurance benefit will be paid out to your named beneficiary or estate.

What happens when my Singlife Account is terminated or cancelled?

Your insurance coverage and interest crediting will be terminated. Your Account Value will be credited to your bank account.

What is the free-look period?

The free-look period is the first 14 days from the date of receipt of your Singlife Account policy in which you can evaluate the plan and see if it meets your needs. If you decide to cancel the policy within the 14 days, the premiums paid without interest – less any withdrawal(s) or expenses incurred in the processing your application will be refunded.

What type of insurance coverage do I get with the Singlife Account?

The Singlife Account is an insurance savings plan that provides death or terminal illness benefit of up to 105% of your account value.


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. Any payments made via a Singlife Debit Card during the prior 365-day period shall be aggregated with payments made via PayNow UEN for the purpose of determining the annual spending limit.


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.