What Is Tiq 3-Year Endowment Plan
Tiq 3-year Endowment Plan is a single premium, non-participating life insurance savings plan.
It pays out a guaranteed benefit at maturity and has a
Guaranteed yield of 2.10%p.a!
There is NO unguaranteed portions like those in a PAR plan.
This plan requires no medical underwriting and is available for cash applications.
How much would you get?
Upon maturity, we will pay a lump sum amount equivalent to 106.43% of the single premium paid.
$100,000 invested will be $106,430 after 3years. Minimum investment is $10,000.
Below is a snapshot per $10,000.
Who Can Buy This Plan?
You can purchase this plan if you fulfil the following criteria (please double check with ETIQA):
- Singapore Resident with a valid NRIC or FIN; or
- Foreigner holding a valid Work Permit, Employment pass or Social pass.
- Between age 17 to 70 (age next birthday).
How does this compare?
China taiping i-save was the last to issue a 3y plan. It was at 2.13%p.a.
Pretty comparable. But both are better than the singapore savings bond rates now.
While the rates are good, I'm not putting too much just in case there are investment opportunities or new plans down the road.
If you're keen to learn more on investments, this video below could help you further.
How To Apply?
Application can be online via MyInfo and online Banking/FAST transfer to start your policy!
The illustration below provides the Key benefits that the endowment plan offers.
Promotion BUT min $50k investment amount =(
As of writing, promotion ends 1jun2020.
But if you are looking at the min $10,000 then this section does NOT apply.
Referral code if need
At point of writing referral promotion is till 31 May 2020. Do check if there are new perks.
Unsure if qualifies when you get the promotion above for more than $50k. From my understanding, there will be an encashable TiqConnect eWallet credits will be credited into the Referrer’s TiqConnect account.
Use my referral code R99327 for the first leg (if it helps) and then subsequently refer your own spouse to open also. Hope it helps =) Read FAQ For Referral Program