Can Singlife be trusted?
A financial institution you can trust
Singlife is licensed by the Monetary Authority of Singapore as a life insurance company, and all Singlife policies (including the Singlife Account) are protected up to specified limits by the Singapore Deposit Insurance Corporation.
How does Singlife make money?
The first campaign is “Save, Spend, Earn” whereby users has to spend a minimum monthly sum of $500 on the Singlife Debit Card to earn an additional 0.5% p.a. The next campaign is “Grow 0.5% p.a. Bonus Return“, users can sign up for a Grow policy and fund a minimum of $1,000 to earn another additional 0.5% p.a.
Who are the shareholders of Singlife?
Singlife's existing shareholder, Sumitomo Life Insurance Company will hold 20% of the group equity, while Aflac Ventures LLC, Aberdeen Asset Management PLC, IPGL Limited and minorities will collectively hold 20% of the group equity. TPG, a global alternative asset firm, will hold 35% of the group equity.