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‘Cash for Goals (Education)’ a better way to fund your child’s ambitions
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What is Cash for Goals (Education) for?
If you are a first time mom or even a mom that does not know yet how to invest their earnings, a simple way to discuss the Cash for Goals (Education) is it will help parents save and grow their money so they can afford their child’s college tuition fees. It is just like a piggy bank that you save up your money to keep but in a good way that it is increasing because Singlife will help you grow the money you invested.
Cash for Goals (Education) is better than the run-of-the mill investment-linked product because 100% of our money gets invested compared to other products that deduct or charge very high entry fees. Because of this, our money earns more than other products in the market, especially during the early years.
How much should I invest in Cash for Goals (Education)?
Mostly investments that we know require us to invest year rate / quarterly on the first payment which has a very high amount while on the other hand Cash for Goals (Education) Initial investment starts low at only Php 2,500 and if you want to increase your investment you can add as low as Php 500/month.
Where will my money be invested?
Our money will be invested in the Singlife Smart Investment Fund – a peso-denominated investment-linked fund that aims to earn more than the traditional savings account by primarily investing in a mix of Philippine fixed-income and equity classes. The fund is managed by ATRAM, one of the country’s leading asset management companies.
How to start Investing?
Singlife ensures that parents can easily and hassle-free start investing with Cash for Goals (Education) because it is readily available on GCash, which is accessible anytime, anywhere through any mobile device. Let me guide you on how you can start watch my video
- You need to access your GCash Account with an available balance Php 2,500.
- Click on Goals and then CLick on Cash for Goals (Education). Agreement Pop up will appear just click the AGREE button.
- On GCash x Singlife screen, Click GET STARTED
- Complete your Personal Information on the screen
- Answer the following questions
- Do you want your child to have a great future ahead? Yes/No
- Do you want to grow your money faster than an average savings account? Yes/No
- Let’s see if this product matches your risk-appetite. Choose between the available risk on the slider
- Choose your target goal amount that fits your needs and budget. I think this one differs on each person. For me I have the following choices
- Php 100,000 by Sept 2032 with monthly payment of Php850 per month for 10 years
- Php 300,000 by Sept 2032 with monthly payment of Php 2,500 per month for 10 years
- Php 500,000 by Sept 2032 with monthly payment of Php 4,100 per month for 10 years
- Also you can edit your monthly payment and adjust it to your desired amount
- After you choose your Plan Singlife will show to you the projected Fund Value after 10 years. Click continue
- Review your plan details and Confirm it.
- Make sure to read all of the information given to you like the Sales Illustration, Where you can see your plan details.
- After you submit the form,an email will be sent to you stating that a call representative from Singlife will call you with your registered number to confirm your plan and ask you for your basic information.
- After you confirm all information on the call with Singlife Representatives , you will receive an email with your policy protected with email and more information for your plan.
Can I withdraw my money?
Plan holders can withdraw their funds for emergencies, which can be a Partial or Full Withdrawal through the GCash App while the policy is still active without any fees or charges at any given time.
Partial Withdrawal
You can choose to withdraw a portion of your Fund Value at any time while your Policy is active, subject to the applicable Withdrawal Charge Rate indicated in your Policy Details Page(s). This means that every time you make a partial withdrawal, the amount or units that you have withdrawn will be taken out from the latest payment you have made.
Full Withdrawal
You can choose to withdraw all of your Fund Value at any time while your Policy is active, subject to the applicable Withdrawal Charge Rate indicated in your Policy Details Page(s). Upon Full Withdrawal, your Policy will terminate.
My overall rate about the Singlife Cash for Goals (Education)
The overall application process was so smooth, it only requires simple information about you and your child to complete the plan. Aside from that it is really easy because it is just from an application GCash unlike any other insurances.
Parents like me will not hesitate anymore to invest because it does have low initial requirements. Now we can be at peace knowing that our kids will have something to help them in their future.
Like Rien Hermans (Singlife CEO) said , “As parents, we want to provide all we can for our children to help them reach their big ambitions and education is key to that. It is better to start as early as possible to avoid being confronted with the high cost of education when the need is already there and when our budgets might be constrained. To help parents be ready, we created ‘Cash for Goals (Education)’ and give them a better way to plan, save and grow funds for their child’s education,”
Cash for Goals (Education) is the first unit-linked investment product offered by Singlife Philippines. The company develops products that help customers plan, save, and invest for their financial future.
To learn more about Singlife’s Cash for Goals product visit their website http://singlife.com.ph/cash-for-goals/) or go to GCash (http://go.gcash.com/SinglifeCFGE).
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