With life expectancy in Singapore rising, retirement today often spans 20–30 years. That means your savings not only need to last longer, but also provide a reliable source of income to cover daily expenses, rising healthcare costs, and lifestyle needs.
While CPF LIFE provides a foundation, many Singaporeans look for additional income streams. This is where Singlife Flexi Life Income II steps in — a savings and protection plan designed to turn your premiums into a steady flow of lifetime payouts, while safeguarding your capital.
How Singlife Flexi Life Income II Works
This plan blends long-term savings with insurance protection. Here’s the simple structure:
- Pay premiums for your chosen period (single, 3, 5, 10, 15, 20 or 25 years).
- Allow for an accumulation period where your money grows.
- Start receiving yearly income for life after the accumulation period.
- Income = Guaranteed Cash Benefit + Non-Guaranteed Bonus.
- From age 60 (or 20 years after accumulation), you also receive a Booster Bonus.
- Along the way, you enjoy life insurance protection against death and terminal illness.
💡 Think of it as building your own “personal pension” with added protection.
Key Features at a Glance
- ✅ Lifetime Income – steady yearly payouts for life
- ✅ Capital Guarantee – your premiums are protected after certain years
- ✅ Booster Bonus – extra payouts once you hit key milestones
- ✅ Flexible Premiums – pay once or spread over several years
- ✅ Life Protection – death and terminal illness coverage
Example: Turning Premiums into Income
Let’s illustrate with a scenario:
- Age at entry: 35
- Premium: S$10,000/year for 10 years
- Accumulation period: 20 years
- Sum Assured: S$100,000
From age 55 onwards (after accumulation):
| Guaranteed Cash Benefit | S$2,200 (2.2%) | S$2,200 (2.2%) |
| Cash Bonus (non-guaranteed) | Up to S$3,000 (3.0%) | Up to S$900 (0.9%) |
| Total Yearly Income (before booster) | S$5,200 | S$3,100 |
From age 60 onwards (booster kicks in):
| Guaranteed Cash Benefit | S$2,200 | S$2,200 |
| Cash Bonus | Up to S$3,000 | Up to S$900 |
| Booster Bonus | Up to S$500 (0.5%) | Up to S$300 (0.3%) |
| Total Yearly Income (after booster) | S$5,700 | S$3,400 |
👉 Over a 30-year retirement (age 55–85), that’s potentially S$171,000 at the conservative 3% scenario, or S$171,000+ at the higher 4.25% scenario — while your premiums remain guaranteed.
(Figures for illustration only; actual payouts depend on Singlife’s investment performance.)
Benefits and Considerations
Why it appeals
- Reliable, lifelong income stream
- Safety net with capital guarantee
- Combines savings and insurance in one plan
- Flexibility in how you pay premiums
- Opportunity for higher returns through bonuses
Points to weigh
- Part of income is non-guaranteed (linked to investment performance)
- Early surrender can mean losses
- Best suited for long-term commitment
- Inflation may reduce purchasing power of payouts
Who Should Consider This Plan?
- 👵 Retirees or pre-retirees seeking steady, predictable income
- 👨👩👧 Families who want to leave a financial legacy with insurance cover
- 🏦 Conservative savers who value capital protection with upside potential
- ⛔ Less suitable for those needing short-term liquidity or aiming for high-risk, high-return investments
Conclusion: A Piece of Your Retirement Puzzle
Singlife Flexi Life Income II is more than just a savings plan — it’s a lifelong income strategy. By combining guaranteed payouts, potential bonuses, and insurance coverage, it offers peace of mind for those who want security and stability in retirement.
If you’re planning your financial future, this could be the missing piece that helps you balance growth, income, and protection. Speak to a licensed financial adviser to see how it fits into your retirement portfolio.
❓ Frequently Asked Questions (Q&A)
Q1: How is the yearly income calculated?
The yearly income is made up of two parts — a Guaranteed Cash Benefit (2.2% of the sum assured) and a Non-Guaranteed Bonus, which depends on Singlife’s investment performance.
Q2: When do I start receiving payouts?
You choose your accumulation period. Once that period ends, yearly payouts begin and continue for life. Booster Bonuses are added at age 60 or 20 years after the accumulation period, whichever is later.
Q3: Is my capital guaranteed?
Yes, your total premiums paid are guaranteed by the time Yearly Income payouts start, provided you do not surrender the plan early.
Q4: What happens if I surrender early?
If you surrender in the early years, you may get back less than what you paid. The plan is designed for long-term holding.
Q5: How is this different from CPF LIFE or annuities?
CPF LIFE is government-mandated and pays lifelong income funded from your CPF savings. Flexi Life Income II is a private plan, giving you flexibility, capital guarantees, and added insurance coverage — but part of the payouts depend on investment performance.
Q6: Is the payout affected by inflation?
The guaranteed portion is fixed in dollar terms. While bonuses may grow with investment performance, there’s no guarantee they’ll fully keep pace with inflation.
Q7: Who should consider this product?
This plan is suitable for those who want a stable, long-term income stream, with protection for loved ones, and are willing to commit for the long haul.
