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Best ILP in Singapore
I believe the Manulife InvestReady III is the best ILP in Singapore.
With its flexible investment options, low entry requirements, and competitive fees, this ILP caters to both beginner and experienced investors alike.
You can start your investment journey with as little as $200/month for regular investments or opt for a single premium investment of $25,000.
The minimum investment period (MIP) is just 5 years, giving you flexibility in your commitment.
However, if you’re looking at the 20-Year Flexi 10 plan, the minimum requirement is a 10-year commitment – the lowest entry point across all the ILPs we’ve compared.
Fees-wise, it’s one of the most affordable options in the market.
During the MIP, fees range from 1.4% to 2.5% per annum, plus $5/month (if you’re investing below specific amounts).
After the MIP, fees drop to 0.7% to 1% per annum, along with the same monthly charge.
These costs are lower than what most ILPs in the market offer.
Unlike some plans that rely on subfunds, Manulife InvestReady III allows you to invest directly in retail unit trusts, eliminating hidden fund-level fees.
Plus, with an impressive ROI of 499.25% over 30 years, it’s a solid option for those seeking strong returns.
If you’re after dividend-paying funds, you’re in luck.
This ILP lets you invest in such funds and offers the flexibility to either withdraw or reinvest your dividends.
Additional Features and Flexibility:
- Partial withdrawals: Yes, with a minimum of $500.
- Top-ups: Yes, starting from $2,500.
- Varying premiums: Allowed after 12 months.
- Premium holidays: Unofficially possible, subject to account value.
The policy also comes with basic insurance coverage for death and terminal illness, alongside 4 optional riders: TI Waiver, CI Waiver, Cancer Waiver, and TPD Waiver.
Now in its third iteration, the Manulife InvestReady is widely popular among financial advisors and investors – and I can see why it’s popular.
Best ILP with the Lowest Fees
If keeping your investment costs low is your priority, then Singlife Savvy Invest is the clear winner.
This ILP combines low fees, a short minimum investment period, and access to a wide range of funds, making it an excellent choice for cost-conscious investors.
For the first 10 years, the annual fees are 2.5%, which is competitive for ILPs.
Beyond the 10-year mark, the fees drop dramatically to just 0.65% per annum, one of the lowest ongoing costs in the market.
These lower fees can significantly enhance your long-term returns.
With a minimum investment period (MIP) of just 3 years, Singlife Savvy Invest offers flexibility that few ILPs can match.
Whether you’re a cautious investor testing the waters or someone who values shorter financial commitments, this plan works for you.
Singlife Savvy Invest provides access to both retail and accredited investor funds, allowing you to diversify across different investment opportunities.
Based on my ROI testing for all ILPs I’ve reviewed, the calculated ROI for the Singlife Savvy Invest is 516.63% over 30 years.
Flexibility and Features:
- Partial withdrawals: Allowed, with a minimum of $500.
- Top-ups: Start from as low as $1,000.
- Varying premiums: Permitted after 36 months.
- Premium holidays: Unofficially available, subject to account value.
For insurance, the policy includes death and terminal illness coverage, along with 2 optional riders: Payer Premium Waiver and CI Waiver.
Singlife Savvy Invest strikes a balance between low fees and solid returns, making it an attractive option for investors looking to maximise value.
It’s particularly suited for those who want flexibility and a shorter commitment period while still reaping the benefits of a well-structured ILP.
Best ILP with the Highest Potential Returns
When it comes to maximising returns, Singlife Savvy Invest takes the spotlight (again).
With a calculated ROI of 516.63% over 30 years (excluding bonuses), this ILP offers a compelling opportunity for investors seeking growth.
The combination of strong returns, low fees, and attractive bonuses makes it an excellent choice for those aiming to maximise their wealth.
The plan’s compulsory fees start at 2.5% per annum for the first 10 years, which is in line with most ILPs.
After 10 years, the fees drop to an impressively low 0.65% per annum, boosting your net returns over the long term.
This competitive fee structure ensures that more of your money works for you.
A minimum investment period (MIP) of just 3 years makes Singlife Savvy Invest one of the most flexible ILPs on the market.
You also get access to both retail and accredited investor funds, providing a wide range of options to diversify your portfolio and tap into high-growth potential.
What truly sets this ILP apart is its generous bonus structure.
You can enjoy up to 60% in bonuses, further amplifying your investment performance.
Singlife Savvy Invest’s calculated returns and added bonuses make it an ideal choice for those looking to grow their wealth aggressively.
Whether you’re a seasoned investor or just starting, this ILP offers the potential for substantial long-term rewards.
Best ILP with the Most Flexibility
If flexibility is a priority in your investment journey, I believe the Manulife InvestReady III is the most flexible ILP.
Unlike many ILPs that lock up your funds for decades, this plan offers unparalleled customisation, allowing you to tailor your investment periods and payment schedules to suit your needs.
One of the biggest frustrations with traditional ILPs is the lack of flexibility in commitment periods, often tying you down for up to 30 years.
But with the Manulife InvestReady III, you gain access to 9 unique combinations of investment structures, giving you control over both the Minimum Investment Period (MIP) and the Minimum Payment Period (MPP).
Here’s how it works:
- The Minimum Investment Period determines how long your funds are locked in.
- The Minimum Payment Period dictates how long you must continue making investments.
Unlike most ILPs, where these 2 periods are identical, Manulife InvestReady III separates them, giving you the freedom to choose different durations for each.
For example, you can start with a 5-Year MIP and a 1-Year MPP under the 5 Years Flexi 1 plan, or go for a 20-Year MIP with just 10 years of regular premium payments under the 20 Years Flexi 10 plan.
Available Combinations:
|
Policy |
Minimum Investment Period |
Minimum Payment Period (Years) |
Minimum Investment Amount ($) |
||||
|
Currency |
Annual |
Semi-Annually |
Quarterly |
Monthly |
|||
|
5 Years Flexi 1 |
5 |
1 |
SGD |
25,000 |
– |
– |
– |
|
5 Years Flexi 1 |
5 |
1 |
USD |
25,000 |
– |
– |
– |
|
6 Years Flexi 2 |
6 |
2 |
SGD |
10,000 |
– |
– |
– |
|
7 Years Flexi 5 |
7 |
5 |
SGD |
12,000 |
6,000 |
3,000 |
1,000 |
|
10 Years Flexi 3 |
10 |
3 |
SGD |
6,000 |
3,000 |
1,500 |
500 |
|
10 Years Flexi 5 |
10 |
3 |
SGD |
6,000 |
3,000 |
1,500 |
500 |
|
10 Years Flexi 8 |
10 |
8 |
SGD |
6,000 |
3,000 |
1,500 |
500 |
|
13 Years Flexi 10 |
13 |
10 |
SGD |
3,600 |
1,800 |
900 |
300 |
|
20 Years Flexi 10 |
20 |
10 |
SGD |
2,400 |
1,200 |
600 |
200 |
This flexibility isn’t just about choice – it’s about matching your investment plan to your financial goals.
For instance, we found that the 10-Year Flexi 5 option is incredibly popular among investors as it strikes a balance between a manageable payment period and a reasonable lock-in period.
Others use the 10-Year Flexi 3 plan for mid-term goals, such as funding their child’s education or buying a property, while reserving the 20-Year Flexi 10 for long-term goals like retirement.
Beyond flexible periods, this plan also lets you:
- Make partial withdrawals with a minimum of $500.
- Take premium holidays, as long as your account value supports it.
- Top up your investments starting from $2,500.
If you’re after a plan that adapts to your needs and future goals, the Manulife InvestReady III is a winner.
Best Single Premium ILP
If you’ve been diligently saving and now have a lump sum to invest, HSBC Life Wealth Invest is the best single premium ILP in Singapore.
Unlike regular premium ILPs, where flexibility in payment periods and premium holidays matter, single premium ILPs focus on other factors such as minimum investment amounts, fees, fund options, and ease of access to your funds.
The HSBC Life Wealth Invest stands out for its combination of low entry barriers, minimal fees, and access to high-growth potential funds.
To start, you can invest your cash, SRS, or even CPF funds, with a minimum investment of just $10,000.
This makes it accessible to most people who have set aside emergency funds and are ready to put their excess savings to work.
Flexibility Features:
- No minimum investment periods (MIPs): Your funds aren’t locked up, giving you the freedom to withdraw or top up as needed.
- Partial withdrawals: Allowed, with a minimum withdrawal amount of $100.
- Top-ups: Possible, starting from just $500.
While the policy charges a 5% premium fee on cash and SRS investments, this one-time cost is offset by the benefits.
For starters, if you invest through cash or SRS, you gain access to both retail and accredited investor funds, which typically offer higher returns.
There are also no additional fund management fees – a significant advantage over other single premium ILPs.
On top of that, HSBC Life Wealth Invest doesn’t charge any recurring yearly fees on your account value, meaning more of your money is working for you.
These factors combined make it a cost-efficient option despite the upfront premium charge.
With no recurring fees, minimal restrictions, and access to high-performing funds, it offers potentially the highest returns in this category.
For investors looking to grow their wealth with a lump sum investment, HSBC Life Wealth Invest provides the ideal balance of low fees, accessibility, and growth potential.
Best SRS ILP
If your SRS account is overflowing and you’re tired of earning a mere 0.05% per annum, it’s time to consider investing in an ILP.
For those looking to grow their SRS funds meaningfully, the HSBC Life Wealth Invest emerges as the best option.
When evaluating the best SRS ILP, key factors to consider include minimum investment amounts, fees, fund options, top-up flexibility, basic coverage, and available riders.
Partial withdrawals take a backseat here, as SRS funds are already locked until you reach retirement age.
The HSBC Life Wealth Invest takes the crown, thanks to its unbeatable combination of benefits:
- Access to retail and accredited investor funds: These funds offer higher growth potential compared to standard retail-only ILPs.
- No ILP-level fees: You won’t incur recurring charges on your account value, keeping costs low over the long term.
- No additional fund management fees: Unlike other ILPs, you won’t be paying extra fees that eat into your returns.
- Low minimum investment of $10,000: An accessible entry point for many SRS account holders.
Other options on the market struggle to compete due to their recurring annual fees, which can significantly impact returns over time.
With HSBC Life Wealth Invest, you’re free to invest your SRS funds confidently, knowing that more of your money is working for you.
This ILP is perfect for those seeking a cost-effective, long-term investment strategy for their SRS funds.
If growing your retirement savings is your goal, HSBC Life Wealth Invest is a smart and strategic choice.
Best CPF ILP
If you’ve got excess CPF funds and believe you can outperform CPF’s risk-free interest rates (2.5% for the Ordinary Account and 4% for the Special Account), the HSBC Life Wealth Invest is the best choice for a CPF-linked ILP.
Investing CPF monies comes with stricter considerations than SRS funds.
You need to evaluate factors such as minimum investment amounts, minimum investment periods, fees, fund availability, flexibility for partial withdrawals, and basic coverage.
Since CPF funds might be needed for significant expenses like housing before retirement, shorter investment periods and partial withdrawal options are essential here.
Here’s why HSBC Life Wealth Invest excels for CPF investments:
- Fund Selection and Performance
While CPF-linked ILPs restrict you to insurer subfunds (no access to retail or accredited investor funds), HSBC Life Wealth Invest offers the widest range of subfunds compared to competitors. These subfunds also have a strong track record of delivering decent returns after deducting fund-level management fees. This is critical, as your investments need to outperform CPF’s guaranteed interest rates to make the effort worthwhile. - No ILP-Level Fees
Unlike many other CPF-linked ILPs, HSBC Life Wealth Invest doesn’t charge recurring fees on your account value. This, combined with competitive fund management fees, ensures more of your money remains invested, boosting your potential returns. - Flexibility
HSBC Life Wealth Invest allows partial withdrawals (minimum $100), offering liquidity if you need your CPF funds for unexpected expenses. There are also no minimum investment periods for CPF monies, meaning you retain control over your funds. - Accessibility
The low minimum investment of $10,000 makes this ILP accessible, even if you’re only starting to diversify your CPF savings.
While CPF-linked ILPs have limited fund choices and higher scrutiny, HSBC Life Wealth Invest stands out by providing a wide selection of high-performing subfunds, low fees, and flexible withdrawal options.
For CPF investors seeking to outpace the 2.5% or 4% interest rates and grow their savings over the long term, this plan is a reliable and strategic option.
Choosing the best ILP for your needs depends on what you’re looking for – be it flexibility, low fees, or maximising returns.
But here’s the thing – no single ILP is perfect for everyone.
Your financial goals, risk appetite, and timeline all play a big role in determining what works best for you.
That’s why it’s important to get a second opinion before committing to any policy.
If you’re still unsure about which ILP suits you, don’t worry!
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They’ll offer unbiased advice tailored to your unique situation, ensuring you make a confident and informed choice.
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