By Darren Ann Chun Fa 安春発, Senior Consultant, Financial Alliance Pte Ltd
Introduction
In Singapore’s evolving wealth landscape, High Net-Worth Individuals (HNWIs) and mass affluent individuals are increasingly rethinking traditional estate planning. Their goals are no longer confined to wealth preservation and tax efficiency; instead, there’s a rising interest in aligning financial legacies with deeper values—such as family harmony, philanthropic impact, and intergenerational purpose. Recent search trends underscore this shift, pointing toward a growing appetite for sophisticated, values-driven planning tools.
The Rise of Purpose-Driven Wealth Planning
The following search trends among Singaporean HNWIs reflect how legacy planning is evolving:
Life insurance trust Singapore
Legacy planning for HNWIs
Charitable giving through insurance
Indexed universal life insurance Singapore
Estate equalization strategies
Tax-efficient estate planning Singapore
Life insurance trust
Philanthropy and wealth planning
These queries reflect a clear desire to integrate legacy planning with insurance, philanthropy, and tax strategy—all in a cohesive, future-ready manner.
Life insurance trusts are fast becoming foundational estate tools for HNWIs. In Singapore, these structures allow life insurance proceeds to bypass probate, deliver swift payouts, and protect against creditor claims—while maintaining confidentiality.
Benefits include:
Direct distribution to beneficiaries
Protection of policy proceeds
Strategic control over multi-generational transfers
The surge in interest for indexed universal life (IUL) insurance in Singapore reflects a demand for dual-purpose solutions—products that combine death benefits with investment-linked growth potential. IULs provide upside exposure with capital preservation features, ideal for wealth builders and legacy planners alike.
Why IULs appeal to HNWIs:
Flexibility in premiums and benefits
Cash value accumulation
Strategic use in charitable or estate equalization plans
Wealth holders are increasingly asking how they can create impact through insurance. By naming charities as beneficiaries or using structured vehicles such as charitable trusts, policyholders can amplify their giving—often with tax efficiencies—while preserving wealth for heirs.
Common charitable strategies:
Donor-advised funds (DAFs)
Charitable remainder or lead trusts
Split-beneficiary policies (family and charity)
When wealth includes businesses, real estate, or illiquid assets, estate equalization ensures fair value distribution among heirs. Life insurance provides a simple yet powerful tool to offset the imbalance, preventing conflicts and ensuring every family member receives equitable treatment.
Example:
Leave the family business to one child, and use an insurance policy to provide equal value to others.
Singapore’s current tax landscape may be favorable, but HNWIs with cross-border assets or global beneficiaries must consider inheritance taxes elsewhere. Insurance and trusts remain key tools to ensure liquidity, mitigate tax impact, and protect estate integrity.
Key planning tactics:
Offshore insurance wrappers
Strategic use of trusts
Structuring to accommodate foreign tax jurisdictions
Legacy isn’t just about passing on wealth—it’s about passing on values. Many affluent families are involving the next generation in philanthropic decisions and integrating giving into long-term estate plans.
Strategies include:
Multi-generational family giving plans
Education-focused legacy missions
Purpose-driven estate documents
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Note: This article is for informational purposes only and does not constitute financial advice. Please consult with a qualified financial advisor for personalized guidance.
Darren Ann Chun Fa 安春発 is a Senior Consultant and Independent Financial Adviser Representative at Financial Alliance Pte Ltd, Singapore’s largest independent financial advisory firm with over $1 billion in Assets Under Management. Since 2013, Darren has been committed to delivering unbiased, one-stop financial planning services, specializing in estate planning.
Certifications and Qualifications:
Associate Estate Planning Practitioner (AEPP®)
Associate Estate Planning Adviser (Associate EPA)
Certified Will Planner (CWP)
IBF Qualified (IBFQ) for Financial Planning
Associate Financial Planner (AFPCM)
Associate Financial Consultant (AFC)
Singapore Accredited Mortgage Planner (SAMP™)
Darren specializes in fee-based estate planning services, including:
Will writing
Lasting Power of Attorney (LPA)
Advance Medical Directives (AMD)
Personal trust planning
CPF & insurance nominations
Advance care planning (ACP)
SNTC Special Needs Trusts
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Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek unbiased financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.
With over a decade of experience in the financial services industry, I take pride in being part of Financial Alliance Pte Ltd, Singapore’s Most Progressive Financial Advisory Firm with $1 Billion in Assets Under Management. Since 2013, I’ve been committed to delivering unbiased, one-stop financial planning services, specializing in Estate Planning.
I hold multiple professional certifications, including the Associate Estate Planning Practitioner (AEPP®) designation certification by the Society of Will Writers (SWW) of the UK and the Estate Planning Practitioners Limited (EPPL) since August 2016, Associate Estate Planning Adviser (Associate EPA) designation certification by Asia Estate Planning Association (AEPA) since September 2024, Certified Will Planner (CWP) credential for Will Planning Service (Personal) since October 2024 and IBF Qualified (“IBFQ”) credential for Financial Planning (Personal) since September 2016. Additionally, I’m an Associate Financial Planner (AFPCM), an Associate Financial Consultant (AFC), and a Singapore Accredited Mortgage Planner (SAMP™). These credentials reflect my dedication to maintaining the highest standards of competency, ethics, and professionalism in financial planning.
My Passion
I’m passionate about providing impartial, comprehensive financial advice that aligns with my clients’ interests. I specialise in fee-based estate planning services such as Comprehensive Will Writing, Lasting Power of Attorney (LPA), Advance Medical Directives (AMD), Personal Trusts Planning, CPF & Insurance Nominations, Advance Care Planning (ACP), and SNTC Special Needs Trust.
Beyond estate planning, I offer various financial solutions—from life insurance and investments to general insurance. My clients range from individuals and families to small businesses and corporations, and I’m dedicated to helping each of them reach their financial aspirations.
My Belief
I firmly believe that now is always the best time to leverage expert advice and available resources. By building strong financial literacy, we can all make informed decisions that enhance our financial well-being, no matter the economic climate.
Let’s connect over coffee soon!
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根据《个人数据保护法》,鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料(例如姓名,证件号码,联系电话,邮寄地址,电邮地址和照片)。 该政策可在本公司网站上查寻,网址为 https://fa.com.sg/data-protection-policy/.
By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.
提交此表格,即表示您已阅读并理解鑫盟理财私人有限公司的个人数据政策