Singlife Sure Invest

No action is required from you as your Singlife Sure Invest policy will be automatically terminated on 16 Sep 2024.  

However, if you’d like to terminate prior to this date, you can follow these simple steps:

1. Log into your Singlife Account.
2. Tap on the Sure Invest portfolio if you’d like to terminate.
3. Tap on “More Actions”.

Scroll down and tap on “TERMINATE POLICY” and follow the on-screen instructions. The termination of your Singlife Sure Invest policy will be processed within 7 working days.

You may refer to the indicative Net Asset Value (NAV) shown on Singlife App prior to your termination if you opt to do so yourself or otherwise before 16 Sep 2024. We will send a final statement by 18 Oct 2024, as confirmation of your termination, as well as a summary of net payments to be credited to you.

We conduct periodic reviews of our product suite and overall portfolio management from time to time and after thorough consideration, we have decided to terminate this product due to its modest performance over the years. We remain committed to ensuring a fair and relevant range of product offerings for all our customers.

If you’re currently on a recurring payment arrangement - either Recurring Single Premium (RSP) or GIRO - you can cancel this arrangement with your bank. Otherwise, we will also cease all recurring collection from 30 Aug 2024 and there will be no action required on your end.

Yes. The termination of Singlife Sure Invest does not affect your Singlife Account holdings and you will still be able to access your Singlife Account on the Singlife App.

You will need to register for PayNow with your bank, using your NRIC/FIN, if this is not already in place. Do note that PayNow-NRIC/FIN is not the same as PayNow-Mobile Number.

Please refer to your respective bank’s website for details on how to link your PayNow account to your NRIC/FIN.

We will not be able to do so. The amount which consists of the Net Asset Value and 2.5% p.a interest  on your Net Capital will be refunded to you by 18 October 2024 via Paynow.

If you’d like explore other products to reinvest this fund or advice on financial planning, please WhatsApp us at 97645303 or email [email protected] and a Singlife Relationship Consultant will be in touch with you.

Scenario 1: Policyowner’s net asset value (NAV) is in a loss:

This illustration is based on an SSI ILP policy with a current loss position that was incepted on 17 September 2023 and terminated on 16 September 2024:

	Principle (S$)	Interest (S$) at 2.5% p.a.
Initial premium	10,000.00
Annual management charge (0.25% of NAV per quarter) #	-100.00	247.50
Net Capital	9,900.00
Net Asset Value (NAV)^	9,000.00
Policyowner to receive:
Net Asset Value (NAV)	9,000.00	by 30 Sep
(Difference between Net Capital and NAV) + (Interest)	900 + 247.50	by 18 Oct
Policyowner to receive a total of	10,147.50

Policyowner receives a total payment of S$10,147.50 which includes a payment of S$900 by Singlife to bring the policyowner back to the net capital position (at the point of purchase of the SSI ILP policy) and an additional interest payment of S$247.50 by Singlife.

 

Scenario 2: Policyowner’s net asset value (NAV) is in profit:

This illustration is based on an SSI ILP policy with a current profit position that was incepted on 17 September 2023 and terminated on 16 September 2024:

	Principle (S$)	Interest (S$) at 2.5% p.a.
Initial premium	10,000.00
Annual management charge (0.25% of NAV per quarter) #	-100.00	247.50
Net Capital	9,900.00
Net Asset Value (NAV)^	11,000.00
Policyowner to receive:
Net Asset Value (NAV)	11,000.00	by 30 Sep
Interest	+ 247.50	by 18 Oct
Policyowner to receive a total of	11,247.50

Policyowner receives a total payment of S$11,247.50 which includes an interest payment of S$247.50 by Singlife.

 

Scenario 3: Policyowner’s net asset value (NAV) equals net capital:

This illustration is based on an SSI ILP policy with a current position equal to the time that it was incepted on 17 September 2023 and terminated on 16 September 2024:

	Principle (S$)	Interest (S$) at 2.5% p.a.
Initial premium	10,000.00
Annual management charge (0.25% of NAV per quarter) #	-100.00	247.50
Net Capital	9,900.00
Net Asset Value (NAV)^	9,900.00
Policyowner to receive:	9,900.00	by 30 Sep
Interest	+ 247.50	by 18 Oct
Policyowner to receive a total of	10,147.50

Policyowner receives a total payment of S$10,147.50 which includes an additional interest payment of S$247.50 by Singlife.

#Assuming daily NAV is S$10,000 at the point of each quarterly deduction.

Payments will be sent to policyowners via PayNow. If the payment via PayNow is unsuccessful, Singlife will transfer the amount to policyowners’ Singlife Account. If that is not possible, Singlife will mail a cheque to policyowners’ mailing address in our records as at the date of payment. Please ensure your mailing address is up to date at mysinglife.singlife.com.