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Singlife Elite Term

A flexible and affordable life insurance plan that allows you to choose the coverage period and amount you really need.

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  • Wide choice of coverage terms to suit your needs: 5 years, 10 years, any yearly interval from 11 years until you're 85 years old, or up to 99 years old1
  • Renew your basic policy automatically without further medical underwriting when you choose coverage periods of 5 or 10 years2
  • Flexibility to increase your basic policy coverage without further medical underwriting when you reach key milestones in life3
  • Convert your term insurance coverage into a new savings policy or whole life insurance policy as your needs evolve, without further medical underwriting4

Important Notes

1The policy term of up to 99 years old for Singlife Elite Term is not available for policies on a joint lives basis.

2The Guaranteed Renewable Option (GRO) is only applicable to policy term of 5 years and 10 years. Upon renewal, the Life Assured is insured for at most the same Sum Assured as before the renewal date and for the same policy term. No new policy will be issued. GRO is also applicable to TPD Advance Cover Plus II, CI Advance Cover Plus III and Early Critical Illness Cover II, if attached to the basic policy at inception. Premiums payable for the renewed policy will be based on the Life Assured’s attained age and the prevailing premium rates at the date of renewal.

3The policyholder may exercise this option at each of the following key life events without providing further evidence of insurability:

• the Life Assured marries or divorces (i.e. change of marital status);

• the Life Assured becomes a parent by having a newborn child, or legally adopts a

child (i.e. adding a new child member to the immediate family);

• the Life Assured purchases a property;

• the Life Assured or Life Assured’s child enrols into tertiary education; or

• the Life Assured enters full-time employment within one year from tertiary graduation.

4The policyholder can fully or partially convert the basic policy into a new endowment or whole life policy available at the point of conversion, without further evidence of insurability as long as the following conditions are met:

a) The policy is in force when this option is exercised;

b) The Life Assured is 65 years old or younger when the Guaranteed Convertibility Option is exercised (for joint life policy, the age limit for conversion must be based on the older age of the two Lives Assured);

c) For full conversion, the Life Assured will be insured for the same Sum Assured or less on the new policy, subject to the Sum Assured limit of the new policy;

d) For partial conversion, the Life Assured is insured for a Sum Assured equal to or less than the amount of Sum Assured converted, subject to the Sum Assured limit of the new policy. The original policy will continue with a reduced Sum Assured, subject to the Sum Assured limit of the original policy;

e) The maximum Death Benefit payable under the new policy must not exceed:

(i) the Death Benefit payable under the original policy if it is a full conversion; or

(ii) the Death Benefit payable for the amount of Sum Assured converted if it is a partial conversion; and

f) No claim on this policy has been admitted or submitted.

 The terms and conditions above are not exhaustive. Please refer to the Product Summary for more details


Buying a life insurance policy can be a long-term commitment. An early termination of the policy usually involves high costs, and the surrender value payable may be less than the total premiums paid. You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you

This document is published for information and general circulation only and does not take into account the specific investment objectives, financial situation and particular needs of any specific person. Investors may wish to seek advice from a financial adviser before making a commitment to purchase the insurance product. In the event that an investor chooses not to seek advice from a financial adviser, the investor should consider whether the insurance product in question is suitable for him.

No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by SBI and it should not be relied upon as such. SBI shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein.

Information is correct as of 23 June 2022

Based on Age-Next- Birthday 'ANB' basis Minimum Maximum

Entry age of the Policyholder/Assured (3rd party Policy)



Entry age of Life Assured (3rd party Policy)



Entry age of Life Assured ( Single Life Policy)



1st and 2nd Life Assured of a Joint Policy



Please speak to our Relationship Manager for more information on the premiums charged.

  • Application Form
  • Cover Page, Policy Illustration, Product Summary & Bundled Product Disclosure Document (if applicable)
  • Personal Financial Review
  • Copy of customer’s IC

The above documents are required for the purchase of insurance policy

Walk in to any of our branches to talk to our Relationship Managers