Singlife was founded in 2017 as a digital insurance company. It is currently led by Group CEO Walter de Oude, who has plans to expand the Singlife insurance business out of Singapore, to the region. In 2020, Singlife merged with Aviva, and expanded their business to Philippines.
Why Choose Singlife?
Singlife Term Insurance Plans
What Is Singlife Term Life Series Two?
Singlife Term Life Series Two is a term life insurance plan which covers you for death, terminal illness, and total and permanent disability for a base sum assured between S$50,000 to S$400,000. You can choose how many years you want your coverage for – 5 years, 20 years, or up to 65 years old. You will have the option of a critical illness rider to extend your coverage.
Singlife Term Life Series Two Benefits
Base Sum Assured
Between S$50,000 to S$400,000
You will receive the above-mentioned lump-sum payout in the event you pass away, are diagnosed with a terminal illness, or total and permanent disability.
You'll get to choose between 5 years, 20 years, or up to 65 years old.
If you chose the short 5 year coverage, you will be able to renew your plan when it ends.
You will have the option to extend your coverage with a critical illness rider.
Singlife Term Life Series Two Exclusions
Like all other term insurance plans, you will not be covered for any condition, illness, injury, or symptoms that you've had before you sign up for this plan.
Any early payments of the death benefit will be deducted from your total sum assured.
Singlife Term Life Series Two Summary
In a nutshell, Singlife Term Life Series Two is a term life insurance plan which you can fully purchase and manage online via Singlife's easy-to-use and clear website. Its benefits are straightforward – base sum assured between S$50,000 and S$400,000, covers you for death, terminal illness, and total and permanent disability, and you can add a critical illness rider. However, the only drawback is the shorter coverage duration – 5 years, 20 years, or until 65 years old. This makes it suitable for individuals who want a short-term life insurance plan to insure themselves while their children are still financially dependent on them.
What Types Of Insurance Does Singlife Offer?
Singlife offers 5 types of general and life insurance plans, ranging from term life, critical illness, cancer, savings, and investment-linked plans.
5 Types Of Singlife Insurance Plans
1Term Life Insurance
There are 2 main term life insurance plans at Singlife – a simple and conventional term life plan called Direct Term Series 1.2, and a flexible and customisable term life plan called Term Life Series 3.
There are 2 main critical illness plans at Singlife, namely a simple and standard single-payout Critical Illness Plan, and a more comprehensive multiple-payout Multi-Claim Critical Illness Plan.
There are 2 main cancer insurance plans at Singlife, namely the more comprehensive Cancer Plus Plan Series 1.1. which covers early, intermediate, and major cancers, and the Cancer Plan Series 1.1. which covers major cancers.
Singlife's investment-linked plan is currently not available for public to purchase. If you already have a Singlife Account savings plan, you will have access to the ILP.
Singlife's insurance savings plan is called the Singlife Account which is currently not available for new sign-ups. However, you can join the waitlist.
How to apply for your Term Life Insurance plan
Applying for a Term Life Insurance plan through MoneySmart
Step 1Answer Some Questions
Don't have time to compare all the different life insurance plans in Singapore? Answer some questions and let our intelligent system find the best term life insurance plan for you.
Step 2Speak To Our Insurance Specialists
After you submit your quiz, our expert insurance specialist team members may drop you a call to clarify your needs and explain your options to you. Seize this chance to ask our friendly colleagues the burning questions you may have about life insurance!
Step 3Apply And Purchase Your Term Life Insurance
Once you have spoken to our insurance specialists, considered your options, and planned your finances, you are ready to apply for your term life insurance plan online through our portal.
Singlife Insurance Claims
To make a claim, visit Singlife's website, click on "Protect" on the top menu bar, and you will be led to Singlife's claim webpage. Click on the insurance plan that you're claiming for, fill up your basic personal details and you will be able to submit your claim in a click.
How Do Claims Work?
Fill up a short online claims form on Singlife's website with you (or your family member's) personal details. You will then be able to submit the claim with a click.
A Singlife staff will then call you back within 24 hours to guide you through the entire claims process which may include supporting documents, and filling up claim forms.
Frequently Asked Questions
Can Singlife Be Trusted?
- As with all insurance companies operating in Singapore, Singlife is regulated by the Monetary Authority of Singapore. Singlife customers are protected by the Policy Owners' Protection (PPF) Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC) – meaning if Singlife goes bankrupt, the PPF will take over your insurance plans and continue to run it.
What Is Singlife?
- Singlife was founded in 2017 as a digital insurance company. It is currently led by Group CEO Walter de Oude, who has plans to expand the Singlife insurance business out of Singapore, to the region. In 2020, Singlife merged with Aviva, and expanded their business to Philippines.
Can I Withdraw From Singlife?
- If you're holding a Singlife Account insurance savings plan, you will not be locked in to the plan and can withdraw your money from Singlife anytime.