Singlife Insurance Reviews and Comparison - Seedly

Singlife Insurance

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Life Insurance/Singlife Insurance
Singlife Insurance
5 reviews
Reviews (5)


5 Reviews

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fuss free

not insurance

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good people

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agents purchase

purchase insurance

term life

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  • New innovative insurer with focus on good customer experience compared to older established insurance companies. <Products> At par with other companies but competitive pricing due to online sales channel. For self directed policyholders but if you can work through without adviser - good deals availables (due note they run promos often so make sure watch for best time to buy) <Sing Life Account> Was announced in FinTech festival in November 2019 but not for General Availability and using waitlist approach. Waitlist clearing take a while (took about 2 months for me). Product itself is quite strong though (2.5% interest for first 10k; no lock in) <Onboarding> Can apply after clearning waitlist (just suddenly get SMS one day) - you can only do through app. Had some troubles with app not functioning well at start but customer service is quite responsive. Did take a couple of rounds with CS and onboarding took a few days <Funding and Withdrawals> After initial onboarding - funding is quite smooth (get DBS FAST virtual account numbers; send to there and recognized immediately). app is spartan/minimalist style and very clean and to the ponit. Basically one real screen with account balance and daily MTD interest update. Withdrawal needs a bound self-named account - setup is instant. Will test TAT on withdrawals next month. <Visa card> Sing Life offer Visa card as another way to withdraw from account. TAT for sending is 9-12 *business* days - will update on actual delivery timing and ease of use when receive. <Overall> Strong product. Good focus on customer experience but some initial teething problems with app - still would use as expect Sing Life would get better over time.
  • Singlife staff were committed and helpful to resolve any problem I have on their platform. It was easy and fuss free experience to use them.
  • Insurance Premiums are very competitive. Good for people who do not need insurance agents to purchase insurance.
  • Fuss free and very simple to use interface; good for people who do not need insurance agents to purchase insurance. One of the most competitive term life and critical illness plans in the market. Can purchase insurance in less than 5 mins.
  • I have their term life insurance. Sign up during promo period for 15% perpetual discount. Good they have a steps tracking activity. If you clock enough steps, you get a 5% discount on the month's premium. Another 5% if you share the posting on facebook. Very easy online sign up process. Online quote generator is easy to use and you can easily see the different quotes prices and coverage. Quite excited for their new upcoming app!
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Singlife Insurance


I am taking part insofar as I am on the wait list! :) They officially launched on day 1 of FinTech Festival - November 11th. However it is a staged launch where they are slowly onboarding people on the wait list (possibly dealing with teething problems from their systems???) The wait list was reported to be about 2000 people but I still haven't cleared it, so they aren't actually getting policyholders onboard very quick...

About Singlife

Singlife is a homegrown wealth technology company in Singapore, the first since 1970 to be licensed as a life insurance company by the Monetary Authority of Singapore. The company offers digitally-enabled financial services that create a connected consumer financial journey and interface to manage, grow, and protect the wealth and financial well-being of its customers. Singlife is backed by leading insurance, wealth management, and financial services companies including Sumitomo Life, Aflac Incorporated, Aberdeen Standard Investments, and IPGL (Holdings) Limited, standing as one of the top funded homegrown fintech companies in Singapore. It was most recently listed as one of “The World’s 100 Leading Fintech Innovators in 2018” by KPMG.


What Singlife Offers:

Singlife’s products can be purchased directly online or through one of their third-party Financial Advisory Firms. To view the list of distribution partners, click here.

Term Life Insurance Plans

1) Term Life

Sum Assured: S$410,000 to S$5mil (up to S$2m non-medical limit)

Term Duration: Between 1 year till up to age 99

Riders: Accelerated Critical Illness, Accelerated Total and Permanent Disability


2) DIRECT-Term 

Sum Assured: S$50,000 to S$410,000

Term Duration: 5 years, 20 years or up to age 65

Rider: Accelerated DIRECT-Critical Illness


3) Critical Illness

A plan you can custom to tailor fit your protection needs, providing financial cover for up to S$300,000.

There are 3 types of base plans:

  • Critical Illness Plan
  • Multi-claim Critical Illness Plan
  • Step-up Critical Illness Plan

4) Endowment

Guaranteed returns of 2.25% p.a. for a 3 year plan & 2.38% p.a. for a 5 year plan. Invest between $5,000 to S$500,000. Available for a limited time only.