Singlife launches universal life plan with income linked to global indices

The plan has a built-in floor rate of 0.00% per annum.

Singlife has launched a whole-of-life, non-participating universal life plan that combines growth potential with flexible income options.

The Singlife Legacy Indexed Income plan provides an income stream linked to the performance of five selected indices, the group said in a press release.

These include the S&P 500 Index, S&P 500 Engle 8% VT TCA Index, Nasdaq-100 Engle 8% Index, UBS Global Multi Asset Engle 8% Index, and UBS Gold Engle 8% Index.

The plan has a built-in floor rate of 0.00% per annum to prevent negative returns in volatile market conditions.

According to Singlife, policyholders receive income during each policy year in the payout period based on the performance of the chosen indices, up to a target annual income.

Meanwhile, additional gains within the same year are automatically reinvested to support the continued growth of the policy value.

The plan also provides a guaranteed loyalty bonus of 0.7% per annum on the Index Account from the eleventh policy year onwards.

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