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At a Glance
Grow your savings for better returns in 12 years with SavvySpring (II). Start nurturing from S$2,381/year.
Be covered against Death, Total and Permanent Disability and Terminal Illness
Offset future premiums from end of policy year 3 or 6 with Yearly Guaranteed Cash Benefits
Guaranteed acceptance with no health questions asked
SavvySpring (II) is applicable for all Singapore Citizens, Singapore Permanent Residents and those residing in Singapore between 18 to 60 years old.
Features & Benefits
- Shortened premium commitment period. Future premiums will be offset using your Yearly Guaranteed Cash Benefits1 from end of 3rd or 6th policy year.
- Capital Guaranteed2 upon Maturity. Receive 100% of your capital back upon policy maturity.
- Build your own plan. Get started with a minimum annual premium amount of SGD 2,381.
- Easy application. Guaranteed acceptance with no health questions asked.
- Comprehensive coverage. Be covered against Death, Total and Permanent Disability3 and Terminal Illness4.
- Option to change life insured5 – Flexibility to change the life insured to your loved ones
Terms and conditions apply, refer to the Sample Policy Contract for more details.
How it Works
How to Apply for SavvySpring (II)
No wait, no hassle. Your details are pre-filled when you apply on digibank.
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When it comes to managing money, there’s no one-size-fits-all plan. That’s why we built DBS NAV Planner on DBS digibank: An intuitive digital tool that helps you track, protect and grow your money in a way that works for you. Not just for a day, a month or a year, but as you go through life. This is DBS digibanking.
Multiply your interests:
Are you a Multiplier customer? Get up to 3.5% p.a. interest on your savings when you apply and pay your premiums through Multiplier.
Frequently Asked Questions
This participating endowment policy offers you insurance coverage and also invests part of your premiums in the insurer’s Participating Fund. By purchasing a participating plan, your premiums will be pooled together and invested with premiums from other policyholders in the Participating Fund managed by Manulife (Singapore) Pte. Ltd.
This plan comprises guaranteed and non-guaranteed benefits in the form of bonuses. The bonus we may pay to you depends on the future performance of the participating fund that this policy is invested in.
Yes. There are 4 types of bonuses for SavvySpring (II), and this provides for the non-guaranteed benefits.
(a) Reversionary bonus
Reversionary bonus is a bonus that may be declared every year. The bonus rate is non-guaranteed. Once vested, it will form part of the guaranteed benefits of this policy.
The accumulated reversionary bonus will be payable upon death, TI, TPD or upon policy maturity, or it may be surrendered for cash value.
In addition, the following additional bonuses may be paid:
(b) Maturity bonus – when your policy matures
Maturity bonus is an additional bonus (a percentage of the accumulated reversionary bonus) which is non-guaranteed.
(c) Surrender (cash-in) bonus – when you surrender the policy before maturity
Surrender bonus is an additional bonus (a percentage of the surrender value of the accumulated reversionary bonus) which is non-guaranteed.
(d) Claim bonus – when a claim is made on the policy
Claim bonus is an additional bonus (a percentage of the accumulated reversionary bonus) which is non-guaranteed.
No, the life insured covered must also be the policy owner.
1 Your Yearly Guaranteed Cash Benefit will be used to off-set the annual premium of the basic plan once the Yearly Guaranteed Cash Benefits are payable. Should you prefer to utilize your Yearly Guaranteed Cash Benefits in other ways, you may instruct us accordingly via a written notification after the policy has been issued. You may also choose to receive the Yearly Guaranteed Cash Benefits or accumulate them with Manulife at a non-guaranteed interest rate of 3.00% per annum (at the illustrated investment rate of return of 4.25% per annum) or 1.50% per annum (at the illustrated investment rate of return of 3.00% per annum).
2 Not applicable for policies which have been altered. For paid out and off-set premiums options, capital refers to the total premiums paid by policy owner less off the total Yearly Guaranteed Cash Benefits.
3 Total and Permanent Disability (TPD) benefit covers the life insured until the TPD expiry date. Please refer to product summary for more information on TPD expiry date.
4 Terminal Illness (TI) is defined as an illness, which in the opinion of a medical examiner and on agreement of our appointed medical examiner, is likely to lead to death within 12 months from the date of diagnosis. In the event of TI during the policy term, the Death Benefit will be advanced in a lump sum.
5 Please refer to the policy contract for more information.
In Collaboration with Manulife
SavvySpring (II) is issued and underwritten by Manulife (Singapore) Pte. Ltd. ("Manulife") (Reg. No. 198002116D) and distributed by DBS Bank Ltd ("DBS").
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is correct as at 1 July 2021.
POSB Insurance Important Notes