Overview
Save for My Life Goals
Saving money doesn't have to be challenging but requires a lot of discipline. Whether saving up for your first home or building an emergency fund, a simple and achievable strategy helps you stay on track toward your goals. It's as simple as deciding how much and when you need it!
Grow your savings with Endowment Plans
There are significant differences between putting your savings in a bank and placing them in an insurance saving plan.
Without a way to ensure a fixed amount is set aside regularly, it can be easy to go off track when your money is so readily accessible. An Endowment Plan allows you to grow your savings with the added benefit of protection, which saving accounts do not provide.
Endowment plans are great options for individual financial planning for important milestones. They complement your investments and bank savings and give you the freedom to decide what you want to do with the money when your policy matures.
Features of Endownment Plans:
Grow your savings with Investment-linked Insurance Policies (ILP)
Investment-linked policies help accelerate your wealth accumulation goals while protecting your loved ones and lifestyle for as long as you like.
ILPs provide insurance protection in the event of death or total permanent disability. You may also add a critical illness rider for more coverage. Premiums are used to pay for investment in one or more sub-funds of your choice and risk appetite. The returns you receive would be based on the performance of the fund(s) and are not guaranteed.
You can make more investment decisions with an ILP than with a participating plan such as an Endowment Plan or Whole Life Plan. You are free to invest in an aggressive portfolio for long-term growth or to use a safer portfolio during difficult times to minimize losses.
With an ILP, you can evolve your investments by switching investment funds when your financial needs and investment risk appetite change. In addition, you may also top up your investments and make partial withdrawals when a need arises.
This post has not been reviewed by the Monetary Authority of Singapore. Do note that investments are subject to investment risks including the possible loss of the principal amount invested.
Buying a life insurance plan is a long-term commitment on your part. If you cancel your plan prematurely, the cash value you receive may be zero or less than the premiums you have paid for the plan.
What’s LiveLife?
Through a unique consulting–based sales approach, we help you to choose the optimalinsurance for your specific situations and requirements. Through after-sales consultations, we ensure that you have the protection you need at all stages of life.
Sony Life Financial Advisers aims to provide services optimally tailored to individual customers. Sony Life Financial Advisers runs LiveLife, a walk–in insurance shop where its dedicated staff provide you optimal insurance plans and you can compare from variety of insurers’ products.
Other Categories
Protecting me & my loved ones
Your health, well-being, and livelihood are three of the most precious things in your life. Safeguarding these for yourself and your loved ones will allow you to focus on living your best life without worrying about unexpected setbacks.
For Parents-to be
Planning to become a parent is one of the most significant decisions one could make. You have an unspoken responsibility to raise your child in a loving and nurturing environment as a parent. This responsibility includes safeguarding their health, teaching them life values, and ensuring they get the best education and opportunities for their future. Caring for your child at every stage of their growth allows them the best chance at a bright future.
Retirement income
According to the Department of Statistics Singapore, life expectancy for Singaporeans is 83.9 years (2022).1 What if you live longer than average? Have you set aside enough for your lifestyle of choice in your retirement years?
Staying Prepared Against Accidents
Although accidents happen a lot more often than we expect, Personal Accident Plans are some of the most overlooked insurance plans. The reality is that no matter how prepared or careful you are, being in the wrong place at the wrong time is beyond our control.
Travel Insurance
When planning a business trip or a holiday, worrying about travel unpleasantries should be the last thing on your mind. Securing coverage for your upcoming trip protects you against unexpected costs from flight delays, loss, thefts, accidents, and medical expenses.
Maid Insurance
Helpers take care of your home, and they should be cared for like a member of your family too! They help you manage your household diligently. Often, they are predisposed to injuries while doing household chores or falling sick now and then, just like you do.
Car Insurance
No matter how careful a driver you are, car accidents can still happen without warning. This is because we have little control over how others drive. We also have no control over factors like bad weather, poor road conditions or falling objects. Car Insurance helps you to defray hefty costs incurred should you be involved in a car accident.
Company Insurance
As a business owner, safeguarding your business assets is vital. Acquiring Business Insurance to protect business assets, such as your employees and properties, helps to reduce risks. At the same time, you focus on growing your business.
