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- What is Cash for Goals (Education) from Singlife?
- What are the requirements to avail of Cash for Goals (Education) from Singlife?
- What are the benefits included in the Cash for Goals (Education) product from Singlife?
- How do I purchase Cash for Goals (Education) from Singlife?
- About the Investment
- Payments
- Withdrawal Policies
- FAQs on Cash for Goals (Education) from Singlife
What is Cash for Goals (Education) from Singlife?
Cash for Goals (Education) is a life insurance and investment product designed to maximize the earning potential of your money to help achieve the financial goals you have for your children in the future.
In case you pass away before completing your goal, Singlife will make sure that your child will have the target goal amount once he/she reaches college.
What are the requirements to avail of Cash for Goals (Education) from Singlife?
You can avail of this product if you are:
- 18 to 55 years old
- A parent of a child aged 0-16 years old
- A fully verified GCash user
- In good health, able to work and do daily activities without any help
- A Filipino citizen or a foreigner who is a legal resident of the Philippines.
What are the benefits included in the Cash for Goals (Education) product?
| Grow Your Money Faster | The usual entry fees (including commissions) so that 100% of your money is invested. The bigger the investment. the bigger the returns. The bigger the returns, the faster you reach your goals. |
| Protect Your Goals | In case you pass away before reaching your goal, Singlife will make sure that the money you set for your child's education will be secured. |
| Give Yourself Full Control of your Money - | The Cash for Goals (Education) Policy is not locked-in. Singlife encourages you to commit to your goal, but if there is an urgent need to withdraw your money, you can do so with zero charges. There are also no extra charges or penalties for missed payments. |
| Easily Stay on Track (and be rewarded for it!) - | Singlife has a prescribed payment plan which is highlighted by an auto-debit feature through GCash for as low as Php 2,500 for the Single Premium and Php 500 for the Scheduled monthly top-ups. Completing your payments on time entitles you to bonuses as well. |
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Target Goal Date of Cash for Goals (Education) Policy |
The Target Goal Date for your Cash for Goals (Education) policy will be set at the policy anniversary when your child is 17 years old, the age when Singlife expects your child to start college.
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Minimum Payment for Cash for Goals (Education) |
The minimum payment you can make for Cash for Goals (Education) is Php 2,500 for Single Premium (Premium to complete the purchase of your policy) and Php 500 for Scheduled Monthly Premiums. The payment amounts will depend on the Target Goal Amount and your selected payment plan for your child's education. |
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Additional Premiums
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Additional Premiums (Or Top-Up Premiums) are additional payments you make after you purchased your policy and while it is active. This helps you reach your target goal amount faster and is recommended to make it easier for you by spreading your payments across a longer period. |
How do I purchase Cash for Goals (Education) from Singlife?
Here is a summary of how to purchase the Cash for Goals (Education) product:
About the Investment
Your money will be invested to Singlife PH Dynamic Allocation Fund, which is a pool of funds managed by the fund manager, ATRAM. This Fund aims to generate positive returns by actively managing the allocation of each fund depending on their performance. The allocation of each fund can range from 0% to 100%, as long as the total allocation is 100%. The fund manager also has the option to use alternate funds not in the pool up to a maximum allocation or 10%.
Singlife PH Dynamic Allocation Fund is composed of the following funds:
| Asset Class | Fund Vehicle for Exposure to Asset Class |
| Cash and Money Market | ATRAM Peso Money Market Fund |
| Peso Fixed Income | ATRAM Total Return Peso Bond Fund |
| Peso Fixed Income - Corporate | ATRAM Corporate Bond Fund |
| Philippine Equity | ATRAM Philippine Smart Equity Index Fund |
Payments
Minimum Payment for Cash for Goals (Education)
The minimum payment you can make for Cash for Goals (Education) is Php 2,500 for Single Premium (Premium to complete the purchase of your policy) and Php 500 for Scheduled Monthly Premiums. The payment amounts will depend on the Target Goal Amount and your selected payment plan for your child's education.
How much do I need to pay to achieve my goal?
The amount that you have to pay will depend on the specific Target Goal Amount and how long you will be saving for that amount.
This product is designed to help you cover your child’s educational expenses in the future.
Withdrawal Policies
You can withdraw from your Available Units starting from 15 days after you purchased your policy, with no charges.
Withdraw your Money
You can withdraw from your Available Units starting from 15 days after you purchased your policy, with no charges. We do, however, encourage that you stay on track of your goals by avoiding withdrawals. Not only will it affect your goal. but it would also mean that a portion or your Locked Units will be forfeited.
Withdrawal Limits
The maximum withdrawal is up to the fund value of the Available Units with a minimum withdrawal amount of Php 10,000.
There are two types of withdrawals that you can make:
- Partial Withdrawal - withdrawing a portion of your Available Units
- Full Withdrawal - withdrawing the total amount of your Available Units
In case you want to make a Partial WithdrawaI, please ensure there is at least Php 1,000 after the withdrawal.
Your withdrawal amount should be at least Php 10,000. If it doesn’t satisfy both conditions, this will be considered as a full withdrawal.
Note: Doing a Full Withdrawal will result to your policy being terminated.
FAQS on Cash for Goals (Education)
How much do I need to pay to achieve my goal?
The amount that you have to pay will depend on the specific Target Goal Amount and how long you will be saving for that amount.
This product is designed to help you cover your child’s educational expenses in the future.
How often do I have to pay for Cash for Goals (Education)?
You only need to pay for the Single premium to buy Cash for Goals (Education). However, this payment may not be enough to reach the amount you wish to have for your goal.
To reach your goal amount faster, we encourage you to make additional payments or Top-Up Premiums.
| Scheduled Monthly Premium | These are the scheduled monthly premium payments you can make. They will be automatically deducted from your GCash account on the provided scheduled dates based on your payment plan. |
| Voluntary Additional Premium | This is the additional premium payment that you can make at any time through your GCash App. This can be done starting from 15 days after you purchased your policy. |
In order for you to know if you need to make Voluntary Additional Premiums other than the Scheduled Monthly Premiums, you may track the performance of your fund respective to the goal you have set on the Policy Page in your GCash App.
What are Top-Up Premiums?
Additional Premiums (Or Top-Up Premiums) are additional payments you make after you purchased your policy and while it is active. It can help you reach your target goal amount faster. This is recommended to make it easier for you by spreading out the payment across a longer period. Here are the two types of Top-Up Premiums
| Scheduled Monthly Premium | Voluntary Additional Premium |
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Scheduled monthly premium payments you can make that will automatically be deducted from your GCash account on the provided scheduled dates based on your selected payment plan |
Additional premium payments that you make at any time through your GCash App. This can be done starting from 15 days after you purchased your policy |
What happens when I pass away before I reach the Target Goal Date?
In case you pass away before reaching your target goal date, we will make sure that the target goal amount that you set for your child's education will be available for your child's education on the target goal date.
When can I claim benefits from my insurance?
You can claim benefits from your insurance upon effectivity of your policy.
How do I claim benefits from my insurance?
You may email Singlife at help@singlife.com, or through our hotline at +632 8299 3737 (Mon to Sun, 9 am to 8 pm) and our Case Managers will assist you in filing a claim.
Singlife will contact you if they require additional documents.
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