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Singlife Flexi Life Income

(Previously known as MyLifeIncome III)
An insurance savings plan that gives you yearly guaranteed cash payout throughout your lifetime plus potential bonuses

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Say “hi” to lifelong pay days

With Singlife Flexi Life Income, you’ve got an income for life.

You get yearly payouts, a money-back guarantee and the option to receive higher returns. These help to boost your savings so you can use these extra funds for whatever you wish, holidays and retirement included. 

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Yearly guaranteed cash payout

Get paid without working! Look forward to a guaranteed yearly payout1 of up to 5.6% of your sum assured3.

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More earnings over time

Payouts increase by 0.35%of your sum assured, starting from 20 years after your first income payout or when you turn 60, whichever is later. 

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100% Capital return

Set your mind at ease with our guarantee that you’ll get back 100% of your capital4.

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Reinvest with higher returns

Reinvest at a non-guaranteed interest rate for higher returns, and withdraw the money whenever you want6,7.

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Additional life coverage

Get financial protection against death and Terminal Illness8 with no medical check-ups needed. More riders9 can also be added to your plan.

The choice is yours

Enjoy flexibility on your policy duration and more. 

  • 01
    Choose your duration

    Choose your preferred premium payment duration and accumulation period to determine when to start receiving your Yearly Income payouts5

  • 02
    Choose your payment mode

    Pay your premium using cash or Supplementary Retirement Scheme (SRS) funds6

Important Notes

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All ages mentioned refer to age next birthday.
 

Important notes
 

  1. Yearly Income will be payable at the end of every policy year starting from the end of the Accumulation Period, less any amount owing to Singapore Life Ltd., as long as the Life Assured is alive and while the policy is in force. The Yearly Income consists of:
    a) Guaranteed Cash Benefit at 1.20% of the Sum Assured; and
    b) Cash Bonus (non-guaranteed), if any, at 4.40%^ or 2.40%^ of the Sum Assured.
    ^ Cash Bonus rates indicated above are based on illustrated investment rates of return of 4.25% and 3.00% per annum respectively as illustrated in the Policy Illustration. Please refer to the Policy Illustration for more details. Note: Accumulation Period refers to the period from the end of the premium payment term until the first payment of Yearly Income.

  2. The Booster Bonus is non-guaranteed and at 0.35%^ or 0.20%^ of the Sum Assured. It will be payable every policy year starting from the Policy Anniversary immediately following:
    a) the date on which the Life Assured attains age 60; or
    b) the end of the 20th policy year after the Accumulation Period ends, whichever is later, as long as the Life Assured is alive and while the policy is in force.
    ^ Booster Bonus rates indicated above are based on illustrated investment rates of return of 4.25% and 3.00% per annum respectively as illustrated in the Policy Illustration. Please refer to the Policy Illustration for more details.

  3. The Sum Assured is used to determine the Guaranteed Cash Benefit, Cash Bonus (non-guaranteed) and Booster Bonus (non-guaranteed) payable and is not the Death Benefit.

  4. The Guaranteed Cash Surrender Value is equivalent to Total Premiums Paid for the basic plan as at the end of the Accumulation Period or the end of:
    a) 8th policy year for policy with Single Premium payment term;
    b) 13th policy year for policy with 3 years premium payment term;
    c) 15th policy year for policy with 5, 10 or 15 years premium payment term; or
    d) 25th policy year for policy with 20 or 25 years premium payment term; whichever is earlier, subject to policy terms and conditions. The Guaranteed Cash Surrender Value will increase at 0.25% per annum (compounded) from the 5th policy year after the end of the Accumulation Period.

  5. The sum of your entry age (in years) and your preferred premium payment term must not exceed 75 years. You can choose to pay premiums in a single lump sum (single premium) or over 3, 5, 10, 15, 20 or 25 years. There is a minimum Accumulation Period depending on your choice of premium payment term. The latest you can start receiving your Yearly Income is at 80 years old. Please refer to the Product Summary for more details.

  6. For policy funded by Supplementary Retirement Scheme (SRS) monies, the policyholder must be the Life Assured covered under the policy. The withdrawn Yearly Income and Booster Bonus (if any) will be credited back to the SRS account as per prevailing SRS guidelines.

  7. The minimum amount for a withdrawal of the reinvested Yearly Income and Booster Bonus is S$1,000 (in multiples of S$10) or the balance available, whichever is lower.

  8. Death and Terminal Illness coverage is subject to the following conditions:
    For Death Benefit
    In the event of the Life Assured’s death while the policy is in force, the lump-sum Death Benefit payable will comprise:
    a) the higher of:
        i. 101% of Total Premiums Paid for the basic plan (excluding advance premiums and premiums for riders (if any) attached to the policy); or
        ii. the Guaranteed Cash Surrender Value;
    b) Terminal Bonus as declared by Singapore Life Ltd. (if any); and
    c) any reinvested Yearly Income and Booster Bonus with non-guaranteed interest (if not previously withdrawn); less any amount owing to Singapore Life Ltd.
    For Terminal Illness Benefit
    Upon diagnosis of Terminal Illness of the Life Assured while the policy is in force, Singapore Life Ltd. will pay the Terminal Illness Benefit in one lump sum, as an advancement of the Death Benefit.

  9. For more details on the riders, please refer to the respective Product Summaries.

  10. The total surrender value consists of the Basic Cash Value, i.e. Guaranteed Surrender Value and Terminal Bonus (if any). Please refer to the Policy Illustration for the illustrated Cash Surrender Value you may get for early policy surrender.
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Disclaimers

This policy is underwritten by Singapore Life Ltd.

 

This is published for general information only and does not have regard to the specific investment objectives, financial situation and particular needs of any specific person. You may get a copy of the Product Summary from Singapore Life Ltd. and the participating distributors’ offices. You should read the Product Summary before deciding whether to purchase the product. You may wish to seek advice from a financial adviser representative before making a commitment to purchase the product. If you choose not to seek advice from a financial adviser representative, you should consider whether the product in question is suitable for you. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. Buying a health insurance policy that is not suitable for you may impact your ability to finance your future healthcare needs. This is not a contract of insurance. Full details of the standard terms and conditions of this policy can be found in the relevant policy contract.

 

Information is accurate as at August 2022.

 

This advertisement has not been reviewed by the Monetary Authority of Singapore.

 

This policy 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 Life Insurance Association or SDIC websites (www.lia.org.sg or www.sdic.org.sg).