Singlife Grow is a newly launched product (investment-linked plan) that is available via the Singlife App. The aim is to allow you to invest and insure directly on your Singlife App.
If you have followed my blog, you will know that I stash away my spare cash into the Singlife account for the higher return of 2.0% p.a. as compared to traditional saving accounts or fixed deposits.
Singlife has taken the money management game further with Grow.
What is Grow?
Singlife has teamed up with Aberdeen Standard Investments to introduce a investment-linked plan (ILP) called Grow. 3 discretionary managed model portfolios (Conservative, Balanced and Dynamic) are offered under the plan for customers with different risk profiles.
As you can see below, the risk profile is based on the percentage allocation of Equities versus Fixed Income. By the nature of the financial instrument, Equities are riskier than Fixed Income (bonds and short term bank deposits).
Since what you are buying into are actually funds, you will be able to find under each fund:
- The Fund Fact Sheet
- Product Highlight Sheet
- Prospectus
Below are the composition of the funds under each underlying portfolio.
Conservative (19.91% Equities, 80.09% Fixed Income)
Balanced (49.93% Equities, 50.07% Fixed Income)
Dynamic (79.95% Equities, 20.05% Fixed Income)
What Are The Benefits of Singlife Grow?
Quick start
Start from a low initial premium of S$1,000. You can make a hassle-free payment via your Singlife Account.
Managed by experts
Curated investments by a team of professionals from Aberdeen Standard Investments.
No lock-in period
Make a withdrawal anytime without charges.
Simplified charge
Only a management charge of 0.25% on your account value every quarter. No sales charge, transaction fee, withdrawal fee or any other charges.
Investment that protects
Get insurance protection. The death benefit will be the higher of:
- 101% of net premiums; or
- Account value
Summary
Singlife really makes it easy for one to start investing with their mobile app. The below table sums it up.
| Plan | Conservative | Balanced | Dynamic |
| Risk | Low | Medium | High |
| Equities versus Fixed Income % | 19.91% Equities, 80.09% Fixed Income | 49.93% Equities, 50.07% Fixed Income | 79.95% Equities, 20.05% Fixed Income |
| Recommendation |
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Disclaimer: This is not a sponsored post and solely the author’s opinion.