Investing For Busy People

Singlife’s Grow

The Investment-Linked Policy (ILP) which offers you a combination of investment opportunities and insurance protection.

Our new vertical

Why we built Grow

People long to be empowered and in control when it comes to their money.

And so, we build simple and human-centric products to help people feel empowered to save, spend, earn and be insured.

Grow is designed for people who want to let their money thrive by making it simple to invest while being insured.

Do many things with your money

All in one app

Grow is nestled side by side with our Singlife Account to provide diversified investment opportunities beyond what is offered in the Singlife Account.

What is Grow?

Grow is an Investment-Linked Policy (ILP)

An Investment-Linked Policy (ILP) is a life insurance policy which provides a combination of investment and protection.

Through Grow, you invest in portfolios that are managed by Aberdeen Standard Investments, who have world-class investment expertise.

Like other ILPs, Grow does not provide guaranteed returns. Investment returns are based on your portfolio performance and the value of the units and the income accruing to the units, if any, may fall or rise. As such, you need to select portfolios that meet your investment objectives and risk profile.

Protection-wise, Grow provides life cover in the event of death and terminal illness.

The Customer Knowledge Assessment (CKA)

Why it is required for Grow?

From 2012, to safeguard customers’ interest, the Monetary Authority of Singapore (MAS) required financial institutions to assess whether they have the knowledge or experience to understand the risks and features of unlisted Specified Investment Products (SIPs), such as ILPs and unit trusts, before allowing them to purchase the product.

Hence, CKA is needed to assess customers’ knowledge or experience before they can invest in Grow.

3 risk-rated portfolios

Different portfolios for different risk profiles

Low Risk

Conservative

The investment objective of this portfolio is primarily capital preservation.

Medium Risk

Balanced

The investment objective of this portfolio is to achieve a significant capital appreciation with some tolerance for market volatility.

high Risk

Dynamic

The investment objective of this portfolio is to achieve a high degree of capital growth with a high tolerance for market volatility.

Fund Allocations

20%Equities

80%Fixed Income

Fund Allocations

50%Equities

50%Fixed Income

Fund Allocations

80%Equities

20%Fixed Income

This could be right for you if:
  • You are just starting your journey with investing
  • You prefer taking on less risk
  • You are comfortable with lower returns
This could be right for you if:
  • You have a moderate risk tolerance
  • You seek a modest return on your investment
  • You are comfortable with some volatility in return for a potentially higher investment performance.
This could be right for you if:
  • You have a higher risk tolerance
  • You are comfortable with managing significant fluctuations with your investments, in return for potentially higher returns over the long term
Low Risk

Conservative

The investment objective of this portfolio is primarily capital preservation.

Fund Allocations

20%Equities

80%Fixed Income

This could be right for you if:
  • You are just starting your journey with investing
  • You prefer taking on less risk
  • You are comfortable with lower returns
Medium Risk

Balanced

The investment objective of this portfolio is to achieve a significant capital appreciation with some tolerance for market volatility.

Fund Allocations

50%Equities

50%Fixed Income

This could be right for you if:
  • You have a moderate risk tolerance
  • You seek a modest return on your investment
  • You are comfortable with some volatility in return for a potentially higher investment performance.
high Risk

Dynamic

The investment objective of this portfolio is to achieve a high degree of capital growth with a high tolerance for market volatility.

Fund Allocations

80%Equities

20%Fixed Income

This could be right for you if:
  • You have a higher risk tolerance
  • You are comfortable with managing significant fluctuations with your investments, in return for potentially higher returns over the long term

Customisable portfolios

Name your plans after your goals

Set up as many plans as you want for your different financial goals. Give each any name you like! Note that you can only choose one of the three portfolio per policy.

*Returns shown are for illustration purpose only

Gives you great flexibility

No lock-in

You’re in control. Top up or make a withdrawal anytime without any charges.

Be insured too

Coverage against death and terminal illness.

In the event of death or terminal illness, your loved ones will receive the higher of: 101% of your Net Premiums or your Account Value.

Scenario AScenario A - In the event of death or terminal illness:

Scenario A - In the event of death or terminal illness:

S$30,000

Joseph has invested a total Net Premiums of S$30,000 with Grow.

S$45,000

Joseph’s Account Value is

S$45,000.

S$45,500

Joseph’s family will receive a payout of S$45,000 as it is higher than 101% of Net Premiums (i.e. S$30,300)

Scenario BScenario B - In the event of death or terminal illness:

Scenario B - In the event of death or terminal illness:

S$30,000

Joseph has invested a total Net Premiums of S$30,000 with Grow.

S$25,000

Joseph’s Account Value is

S$25,000.

S$30,300

Joseph’s family will receive a payout of S$30,300 (101% of Net Premiums) as it is higher than the Account Value

Learn more about Singlife’s Grow
Singlife Online Terms and Conditions

Our asset manager

Grow’s portfolios are managed by leading global asset management company Aberdeen Standard Investments (ASI).

Start investing today

Tap on the notification bell in the app if you are a Singlife Account policyowner to get started.

If you are new to Singlife, get the app!

A financial institution you can trust

Licensed by MAS

Singapore Life Pte. Ltd. (Singlife) is a direct life insurer
licensed by the Monetary Authority of Singapore (MAS).

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Protected by SDIC

All Singlife policies, including Singlife’s Grow are covered under the Policy Owners’ Protection (PPF) Scheme administered by Singapore Deposit Insurance Corporation (SDIC). The PPF Scheme protects policy owners in the event a life insurer which is a PPF Scheme member fails.

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Singlife Grow at a glance

Commonly Asked Questions

Grow is a single premium investment-linked insurance plan (ILP) which offers you a combination of insurance protection and investment opportunities.

Product Features Details
Coverage Term Whole of life (up to age 100)
Premium Term Single premium (one lump sum)
Premium Currency Singapore Dollar (S$)
Basic Benefit Death and terminal illness
Guaranteed Insurability Yes
Investment Solution Singlife Model Portfolios
Partial Withdrawal/Full Surrender Allowed
Withdrawal/Surrender Charge Not applicable
Entry Age (min) 18 years old
Entry Age (max) 75 years old

The Grow plan allows you to start investing with S$1,000 initial single premium.

You can set up a monthly investment via recurring single premium (RSP) to enjoy the benefits of regular investing, from as low as S$100. In addition, you may also perform ad-hoc top up anytime with just a minimum amount of S$100.

You will not be able to purchase the Grow plan if you are assessed not to possess the knowledge or experience to transact in unlisted SIPs.

There is no lock-in for your investment. You may request for withdrawal anytime and your account value would be dependent on the portfolio’s performances.

No, you are not allowed to choose specific ILP sub-fund(s) for investment.

There is only single charge payable under the plan, i.e. Management Charge of 0.25% per quarter of the account value. The charge will be deducted from your account value on a calendar quarter basis.

In the event of death or terminal illness, we will pay the higher of:

  • 101% of Net Premiums*; or
  • Account Value

Once the benefit has been paid, the policy will terminate.

*refers to single premium plus recurring single premium and ad-hoc premium paid to date less partial withdrawals.

This benefit ensures that the policy owner always get back the total premium paid less withdrawals when the unfortunate event happens, regardless of market conditions.

Illustration:

Scenario A

Net premiums – S$30,000; Account value – S$25,000

Death benefit payable – S$30,300

Scenario B

Net premiums – S$30,000; Account value – S$45,500

Death benefit payable – S$45,500

Yes, you may request for a partial withdrawal of up to 95% of your account value at any point in time, provided the withdrawal amount is at least S$1,000. The account value after withdrawal must not be less than S$1,000.

If the account value after withdrawal is less than S$1,000, the request for partial withdrawal will be considered as a full surrender.

The positive outcome of your CKA would be valid for 1 year from the date of assessment. You will not be required to complete CKA when you transact in unlisted SIPs during the 1 year period. On the expiry date, you would need to complete a new CKA before you can perform the following transactions:

  • Apply for a new plan
  • Ad-hoc top up
  • Switching of portfolios
  • Increase the monthly investment contribution amount (RSP)

Currently, we offer 3 discretionary managed model portfolios under the plan, i.e. Conservative, Balanced, and Dynamic Portfolio (the “Portfolios”), for customers with different risk profiles.

The Portfolios are managed by a professional asset manager on a discretionary basis. The asset manager has the full discretion in managing the Portfolios. You will invest into one single portfolio for each policy.

Key features of the Portfolios:

  • 3 portfolios with different allocation to equities and bonds.
  • The Portfolios invest into ILP sub-funds, which in turn, feed directly into respective underlying funds managed by reputable fund managers.
  • The Portfolios are being monitored regularly and will be rebalanced automatically to ensure the asset allocation does not deviate significantly from its target allocation as a result of market movement over time.
  • The asset manager may change the Portfolios’ allocation and/or the ILP sub-funds from time to time. This ensures your investment always stay relevant with the prevailing investment environment.

Important Notes

  • The information on this page is meant for your general knowledge and does not regard any specific investment objectives, financial situations or particular needs any person might have. Nothing on this page constitutes the provision of financial advice.
  • Before making a commitment to purchase this product, you should consider whether the product is suitable for you by referring to the product summary, terms and conditions and FAQs.
  • Alternatively, you may wish to seek advice from a financial adviser before making a commitment to purchase this product.
  • This policy is protected under the Policy Owners’ Protection Scheme 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 Singapore Deposit Insurance Corporation Limited (SDIC).
  • Information is correct as at 22 October 2020.
  • This advertisement has not been reviewed by the Monetary Authority of Singapore.