While wealth is often linked to expensive hobbies and luxury goods, its true value lies in enabling long-term planning and establishing a lasting legacy for future generations. By 2026, there will be an estimated 592,000 millionaires in Singapore, up from 498,000 in 2020. These affluent individuals want to preserve their assets to ensure a comfortable retirement and provide a legacy for their loved ones, said Mr Stanz Tan, head of Investments and Wealth at Singlife.
GET A HEAD START ON LEGACY PLANNING While there is growing interest among affluent consumers to safeguard their financial well-being, only 16 per cent of them hold legacy plans, according to the Singlife Financial Freedom Index 2024 . This gap highlights the need for more comprehensive legacy planning solutions tailored for this demographic. Singlife Legacy Indexed Universal Life (IUL) offers the security of insurance coverage alongside investment opportunities for wealth accumulation.
Although insurance is traditionally viewed as a conservative financial product, an IUL offers the possibility of higher returns based on the performance of the S&P 500 index and Nasdaq-100 index. Unlike most of the other IUL insurance solutions in Singapore, which typically require a minimum sum assured of US$500,000, Singlife Legacy IUL offers a more accessible entry point of just US$250,000, giving you access to the tools often used by the wealthy for inheritance planning. BLENDING FLEXIBILITY AND ASSURANCE Singlife Legacy IUL pro.
