today, i attended standard life's launch of their maiden products into the singapore market held at the raffles hotel.
standard life's offerings are all investment-linked products with a lump sum or single premium plan and 2 regular savings plans.
my comments:
these products are not meant for the 'mass-market' as standard life's licence is restricted to the defined market segment*.
*Explanatory note: DMS insurers are registered with the MAS to conduct only non-CPF business and with minimum policy sizes.
for example, the investment plan which is a single premium ilp has a minimum requirement of US$50,000 or S$80,000. as for the other 2 ilp products which is the regular savings plan classic and regular savings plan wealth, there is a specified minimum contribution of US$420 or S$670 for monthly contribution, assuming a term of 10 or more years.
with these latest ilp products means even more choices for our consumers and there are now 18 insurers operating in our tiny red dot nation.
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