back Back

StashAway launches new digital life insurance product

By Leandra Monteiro

May 18, 2021

  • Singapore
  • Stashaway
Share

StashAway, digital wealth manager, mutual fund, investment, SingaporeStashAway has launched StashAway Term Life, a group term life insurance policy underwritten by Prudential Singapore. With this new product brings StashAway is one step closer to becoming an all-in-one wealth management platform.

StashAway Term Life is a fully digital offering available on the StashAway app to residents of Singapore. Applying for the insurance coverage takes only a few minutes, with no in-person medical check required. Clients can also get a personalised recommendation for how much coverage they require, and then apply for coverage ranging from $100,000 to $500,000 SGD by answering just 6 health-related questions.

StashAway Term Life is a yearly renewable policy intended to give clients a flexible insurance option. Those insured can renew their plans on a yearly basis if they reside in Singapore. This offering is particularly suitable for those early in their careers or those looking to easily top-up any existing coverage they have individually or as part of their employee benefits.

According to media reports, Michele Ferrario, Co-founder and CEO of StashAway said, “Our goal from the time we first launched our services in 2017 was to provide affordable, transparent, and straightforward financial products. The addition of StashAway Term Life is one more way we’re doing that, with a simplified digital journey to purchase life insurance.”

According to media reports, Amanda Ong, Country Manager of StashAway Singapore said, “Although it’s convenient to lump investments and cash into an insurance policy, the higher premiums for whole life insurance and ILPs aren’t usually worth the extra cost. From a cost perspective, you’re better off buying term insurance and investing your savings in a separate investment product, or as they say, ‘Buy term and invest the rest’.”

Previous Article

May 18, 2021

Copper secures $50 million in Series B funding led by Dawn Capital & Target Global

Read More
Next Article

May 19, 2021

Arab Financial Services signs network alliance agreement with Discover

Read More








IBSi Daily News Analysis

cybersecurity

April 18, 2024

Singapore

GCC banks bolster Cybersecurity measures to combat email fraud

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 19, 2024

Wagestream raises $21.8m to expand financial well-being app

Read More

April 19, 2024

Decentro elevates its DigiLocker Stack to secure KYC processes in India

Read More

April 19, 2024

Keytom launches Digital Asset-Focused Neobank

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023