Singlife Cash for Goals (Education)
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.
Jump to:
- Eligibility
- Benefits
- Purchase Singlife Cash for Goals (Education)
- Payment
- Claims
- Withdrawal
- Contact Singlife
Eligibility
You can avail of this product if you are:
- 18-55 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.
Benefits
| 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 Singlife 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 Singlife Cash for Goals (Education) Policy |
The Target Goal Date for your Singlife 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 Singlife 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. |
Singlife PH Dynamic Allocation Fund
Your money will be invested in the 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 its 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 of 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 |
Purchase Singlife Cash for Goals (Education)
Note: 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.
Payment
The minimum payment you can make for Singlife 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.
The amount that you have to pay in order to achieve your goal will depend on the specific Target Goal Amount and how long you will be saving for that amount.
Note: This product is designed to help you cover your child’s educational expenses in the future.
You only need to pay for a Single premium to buy Singlife 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 | Voluntary Additional 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. | 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.
Claims
You can claim benefits from your insurance upon effectivity of your policy. To claim the benefits, you may contact Singlife and the Case Managers will assist you in filing a claim and contact you if they require additional documents.
Withdrawal
Withdraw your Money
You can withdraw from your Available Units starting from 15 days after you purchased your policy, with no charges. We encourage you to stay on track of your goals by avoiding withdrawals. Not only will it affect your goal, but it would also mean that a portion of 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:
- Full Withdrawal - withdrawing the total amount of your Available Units. This will result in your policy being terminated
- Partial Withdrawal - withdrawing a portion of your Available Units. You need to ensure that there is at least PHP 1,000 left after the withdrawal
Contact Singlife
To contact Singlife, please check out their available channels below:
Email: help@singlife.com
Hotline: +632-8299-3737 (Monday-Sunday, 9:00 AM-8:00 PM)