With Singlife Flexi Life Income II, you will receive yearly payouts, a money-back guarantee, and more earnings over time. These contribute to your savings, allowing you to use the extra funds for whatever you want, including vacations and retirement.
The Guaranteed Cash Surrender Value is equivalent to Total Premiums Paid for the basic plan as at the end of the Accumulation Period, subject to policy terms and conditions.
I always find not having to go for medical checkup for a plan to be a plus point. I also do think these policies fit into planning for income BEFORE CPF LIFE payouts start. If you like planning on this, you know how to find me.
Some things to note. This review post will get dated. And the product might not be available for new subscriptions at some point. Hopefully this serves as reference for future policyholders who have forgotten what they have taken up.
There can be shifts in planning narratives over time. For example, limited premium tenures gain popularity over the years because people are less confident of their future earning capacity or sustainability of income levels. Regular payout features gained popularity when more and more people are in tune with the FIRE (Financial independence retire early) movement. An extended period of low interest rates brought down insurance products’ returns yield for policy holders, but now in a rising interest rates environment, things are set to change.
Singlife Flexi Life Income II may or may not fit into your financial plans. Understand that there is no best plan for all time, but there is a method to objectively facilitate your decisions. Read more about it here.