Say “hi” to lifelong pay days
With Singlife Flexi Life Income II, you’ve got an income for life.
You get yearly payouts, a money-back guarantee and more earnings over time. These help to boost your savings so you can use these extra funds for whatever you wish, holidays and retirement included.
Benefits and Features
Yearly cash payouts
Get paid without working! Look forward to a yearly payout1 of up to 5.2% of your sum assured2
More earnings over time
Payouts increase by 0.5%3 of your sum assured, starting from 20 years after your first income payout or when you turn 60, whichever is later.
100% Capital guaranteed
Set your mind at ease knowing that your capital is guaranteed4.
Attractive guaranteed returns
Earn guaranteed returns of up to 2.32%p.a.5
Choose when to start receiving cash payouts
Enjoy the flexibility of choosing your preferred premium payment duration and accumulation period.
Additional life coverage
Get financial protection against Death and Terminal Illness6 with no medical check-ups needed. More riders7 can also be added to your plan.
The choice is yours
Choose when to start receiving cash payouts
Choose your preferred premium payment duration and accumulation period to determine when to start receiving your Yearly Income payouts8.
Pay your premium using cash or Supplementary Retirement Scheme (SRS) funds9.
All ages mentioned refer to age next birthday.
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 2.2% of the Sum Assured; and
b) Cash Bonus (non-guaranteed), if any, at 3%^ or 0.9%^ of the Sum Assured.
^ Cash Bonus rates indicated above are based on illustrated investment rates of return of 4.25% and 3% 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 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.
3. The Booster Bonus is non-guaranteed and at 0..5%* or 0.3%* 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% per annum respectively as
illustrated in the Policy Illustration. Please refer to the Policy Illustration for more details.
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 policies with Single Premium payment term;
b) 13th policy year for policies with 3 years premium payment term;
c) 15th policy year for policies with 5, 10 or 15 years premium payment term; or
d) 25th policy year for policies 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
5. Guaranteed returns of 2.32% p.a. is based on coverage for a Life Assured between age 20 and 24 (both ages inclusive) with a sum assured
of S$500,000 and an Accumulation Period of 20 years, who is paying annual premiums over 20 years; with an assumption that the policy
will be surrendered at the end of the policy year when the Life Assured is 99 ANB. The return is rounded to the nearest percentage.
6. 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);
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.
7. For more details on the riders, please refer to the respective Product Summaries.
8. 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.
9. For policy funded by Supplementary Retirement Scheme (SRS) monies, the policyholder must be the Life Assured covered under the
policy. The withdrawn Yearly Income, Booster Bonus (if any) and any cash proceeds will be credited back to the SRS account as per
prevailing SRS guidelines.
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.
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 March 2023.
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).