Am I insured $75k by the SDIC for my SingLife account?

SingLife’s website mentioned that we are covered by the PPF scheme but not the DI scheme? So I’m not sure if we are still insured $75k?

Singlife Insurance Singlife Account

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Hariz Arthur Maloy

10 Jun 2020

Independent Financial Advisor at Promiseland Independent

Yes, and it's up to $100k for cash value policies. It's a different sub scheme within the same umbrella of SDIC because the Singlife Account is an insurance policy.

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Can someone enlighten me on what it means by it is an insurance policy account and not a bank account, such as Singlife? What are the cons as compared than opening a bank account for my emergency funds?

Is Etiqa Elastiq covered and insured by SDIC up to $75k too?

Enquiry about Singlife everyday insurance account?

Is SingLife 2.5% per annum interest calculated on a daily basis or the funds must be in the account for a year to be counted? What’s the insurance coverage that they are referring to?

How does Singlife work? Is it a savings account or insurance?

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Is Etiqa Elastiq covered and insured by SDIC up to $75k too?

Enquiry about Singlife everyday insurance account?

Is SingLife 2.5% per annum interest calculated on a daily basis or the funds must be in the account for a year to be counted? What’s the insurance coverage that they are referring to?

How does Singlife work? Is it a savings account or insurance?