Singlife Account

[bruiser69]

1% per annum to invest in unit trusts. You go on dollardex can recreate the portfolio for free.

It's basically a more expensive roboadvisor. If that floats your boat then go for it I guess?

Assuming 1% for 10,000 will come to $100 costs. The extra money paid from Singlife for 1 year amounts to $50.

Ok lah, since I am too lazy to do it on my own.

 

[vegavega25]

Assuming 1% for 10,000 will come to $100 costs. The extra money paid from Singlife for 1 year amounts to $50.

Ok lah, since I am too lazy to do it on my own.

I am unable to gauge what SingLife Grow's unique advantage is. For long term equity investments there are better options out there. If you don't want to pursue DIY, pick one of the core portfolios with Syfe or Endowus.

By the way, remember that the fee is based on net asset value. I'm not a fee-nazi like a lot of people here so my concern isn't that.

I'm just wondering that even if someone wanted to recreate more or less the following portfolio, why they'd pick an insurance company to go about it:


United Global Quality Growth Fund - Glass SGD Acc
Nikko AM Shenton Global Opportunities Fund
Fidelity Funds - World Fund A - Acc- SGD
JP Morgan Funds - Asia Pacific Equity Fund A (Acc) SGD
Eastpring Investments - Global Low Volatility Equity Fund
Neuberger Berman Strategic Income Fund A SGD Accumulating Class
BlackRock Global Funds - USD High Yield Bond Fund A2 SGD Hedged
United Asian High Yield Bond Fund - Class A SGD Acc (Hedged)

 

[cassowary18]

I am unable to gauge what SingLife Grow's unique advantage is. For long term equity investments there are better options out there. If you don't want to pursue DIY, pick one of the core portfolios with Syfe or Endowus.

By the way, remember that the fee is based on net asset value. I'm not a fee-nazi like a lot of people here so my concern isn't that.

I'm just wondering that even if someone wanted to recreate more or less the following portfolio, why they'd pick an insurance company to go about it:


United Global Quality Growth Fund - Glass SGD Acc
Nikko AM Shenton Global Opportunities Fund
Fidelity Funds - World Fund A - Acc- SGD
JP Morgan Funds - Asia Pacific Equity Fund A (Acc) SGD
Eastpring Investments - Global Low Volatility Equity Fund
Neuberger Berman Strategic Income Fund A SGD Accumulating Class
BlackRock Global Funds - USD High Yield Bond Fund A2 SGD Hedged
United Asian High Yield Bond Fund - Class A SGD Acc (Hedged)

Marketing. They've used the Singlife account as a loss leader, now they're using this advantage to market their ILP. Of course savvy investors like most of us know how to avoid but we still still see people coming here asking if investing in Grow is worth the 0.5% bonus interest, which goes to show that Singlife's marketing is somewhat successful.

 

[bruiser69]

I am unable to gauge what SingLife Grow's unique advantage is. For long term equity investments there are better options out there. If you don't want to pursue DIY, pick one of the core portfolios with Syfe or Endowus.

By the way, remember that the fee is based on net asset value. I'm not a fee-nazi like a lot of people here so my concern isn't that.

I'm just wondering that even if someone wanted to recreate more or less the following portfolio, why they'd pick an insurance company to go about it:


United Global Quality Growth Fund - Glass SGD Acc
Nikko AM Shenton Global Opportunities Fund
Fidelity Funds - World Fund A - Acc- SGD
JP Morgan Funds - Asia Pacific Equity Fund A (Acc) SGD
Eastpring Investments - Global Low Volatility Equity Fund
Neuberger Berman Strategic Income Fund A SGD Accumulating Class
BlackRock Global Funds - USD High Yield Bond Fund A2 SGD Hedged
United Asian High Yield Bond Fund - Class A SGD Acc (Hedged)

Good read. I like your term fee-nazi. One shouldn't be so caught up in saving a few cents and miss the big picture.

 

[bruiser69]

Not all folks here are financially savvy or maybe think they are. Some can be easily misled by the claims made here in this thread e.g. switch your funds to Standard Chartered Bank because is also paying the same amount of interest 0.5% as Singlife, and Singlife is more troublesome because they have a daily 20k withdrawal linit. In reaility, there are alot of caveats and pitfalls not highlighted for SCB.

So never take things you read at face value and always do your own homework.

 

[vsvs24]

Not all folks here are financially savvy or maybe think they are. Some can be easily misled by the claims made here in this thread e.g. switch your funds to Standard Chartered Bank because is also paying the same amount of interest 0.5% as Singlife, and Singlife is more troublesome because they have a daily 20k withdrawal linit. In reaility, there are alot of caveats and pitfalls not highlighted for SCB.

So never take things you read at face value and always do your own homework.

Actually, if happy with 0.5% go for BOC SuperSaver for higher amounts. No need to play musical chair.

 

[bruiser69]

oh, so it's not just me. phew.. thought something wrong with my card.

guess the grab pay hack doesn't work anymore

 

[WilsonH]

why headache about the 4 dollars, many platform can earn more than that.

 

[bruiser69]

This thread not much interest because those with vested interest e.g. freelance insurance agents cannot sell their products.

 

[cassowary18]

This thread not much interest because those with vested interest e.g. freelance insurance agents cannot sell their products.

This thread got not much interest because the account got not much interest.

 

[demoforce1]

just realize if we spend $500, the extra 0.5% is for the following month

 

[demoforce1]

guess the grab pay hack doesn't work anymore

oh cannot topup with gpmc already?

 

[vsvs24]

oh cannot topup with gpmc already?

I could on 19 Jul.

 

[bruiser69]

just realize if we spend $500, the extra 0.5% is for the following month

That's good. Make our money work hard for us.

 

[bruiser69]

This thread got not much interest because the account got not much interest.

That's totally fine with me. Less koyok selling.

 

[demoforce1]

That's good. Make our money work hard for us.

depends on what you mean with "good"

 

[dappermen]

Sumitomo Life Insurance s 25% stake in SingLife! https://www.theedgesingapore.com/is...surtech-better-established-insurers-start-ups

 

[bruiser69]

Never put in more than 75k per bank or FI

 

[cassowary18]

Never put in more than 75k per bank or FI

That's for deposit insurance scheme. Singlife account is under PPF scheme which protects up to $100k.

(oversimplification here, PPF and DI work in very different ways)

 

[Devilsire]

oh cannot topup with gpmc already?

just top-up few minutes ago. my card was added & saved in grab long ago though



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