Singlife Steadypay Saver Review
The complete Pros and Cons on Singlife Steadypay Saver
Singlife Steadypay Saver (previously known as Aviva MyEasySaver II) is a savings plan that gives you yearly cash payouts from the 2nd year onwards. Use these payouts as additional cash flow or reinvest them for better returns.
Singlife Steadypay Saver product details
- Life policy – Endowment and Saving policy
- Yearly Cash Benefit
- From the end of the 2nd year, receive guaranteed yearly cash payouts the amount of 5% of the sum assured
- Receive these cash payouts to spend as you wish or reinvest them for higher returns
- Flexible Policy Terms
- Choice of policy term 12, 15, 18 or 25 years
- Pay premiums for the same term
- Insurance Coverage
- Be covered the higher of 101% of total premiums paid less any yearly cash payouts received or the guaranteed cash surrender value and any non-guaranteed bonus against Death and Terminal Illness
- Maturity Benefit
- Upon policy maturity, you will receive at least 160% of the sum assured together with any guaranteed cash payouts
- You will receive guaranteed and non-guaranteed bonuses
- Hassle-free Application
- No medical check-up required
- Optional Riders
- EasyTerm – Lump sum cash payout of to 5X the basic plan annual premium in the event of Death, Terminal Illness or Total and Permanent Disability of the policyholder
- Cancer Premium Waiver II – Future premiums are waived should the policyholder be diagnosed with major cancer
- Critical Illness Premium Waiver II – Future premiums are waived should the life assured be diagnosed with any of the covered severe-stage critical illnesses
Read About: Endowment and Saving policy: How does it work?
Read About: Endowment and Saving policy: Is it the best option?
Features of Singlife Steadypay Saver at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: No
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: No
Terminal Illness: Yes
Critical Illness: No
Early Critical Illness: No
Health and Insurance Coverage Multiplier
Death: Yes, if accidental (additional coverage)
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Optional Add-on Riders
EasyTerm
Cancer Premium Waiver II
Critical Illness Premium Wavier II
Additional Features and Benefits
Yes.
For further information and details, refer to Singlife website. Alternatively, fill up the form below and let us advise accordingly.
Read About: Effects of compounding returns
Read About: 3 things to consider before taking up a new financial product
Singlife Steadypay Saver may be suitable if you are looking for
Singlife Steadypay Saver may potentially be a good fit if the following matters to you:
- A hassle-free application without medical underwriting
- Short to long term endowment and savings plan
- Guaranteed yearly cash payouts that can be reinvested for higher returns
- To saving regularly over a period of time
- To potentially generate higher financial returns compared to bank accounts
- Savings plan with insurance coverage against Death and Terminal Illness
- Additional coverage against Accidental Death
Singlife Steadypay Saver may not be suitable if you are looking for
Singlife Steadypay Saver may potentially be a bad fit if the following matters to you:
- Liquidity or flexibility of withdrawal in your Insurance policy.
- High insurance coverage for Death or Terminal Illness
- Insurance coverage for Early Critical Illness, Critical Illness or Total and Permanent Disability
- A one-time premium commitment with no further cash commitment
- Potentially higher financial returns compared to a pure investment product.
- Insurance policy with a high surrender value in the early years of the policy.
Further considerations on Singlife Steadypay Saver
- How are Singlife or Singlife Steadypay Saver investment returns based on historical performance?
- How does Singlife Steadypay Saver compare with Endowment policies from other insurance companies?
- Can Singlife Steadypay Saver fulfill my financial, insurance, health, and protection needs?
The above information may not fully highlight all the product details and features of Singlife Steadypay Saver. Talk to us or seek advice from a financial adviser before making any decision about Singlife Steadypay Saver.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering taking up.
Is Singlife Steadypay Saver suitable for me?
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