AMTD PolicyPal Saving up for the future is no easy feat. With many milestones in life to save up for, smart financial planning is necessary to achieve the most with our money. One of the many ways to do this is by investing in insurance policies that provide a crediting rate.
However, it is also important to consider the timeframe that you are able to stay invested in. If you want high guaranteed crediting rates of 2% p.a. and have a mid term investment time frame of 6 years, one policy that you can consider is Tiq Easy Save, a Universal Life Insurance Policy by Etiqa Insurance Pte Ltd.
What is a Universal Life Insurance Policy?
Universal Life Insurance Policies are life insurance products bundled to provide insurance protection and investment return. There are typically two types of Universal Life Insurance Policies:
- Protection-Oriented Universal Life Policies: Typically marketed as a tool for leaving behind an inheritance to your loved ones after death. Premiums are typically large and upfront.
- Savings-Oriented Universal Life Policies: Focuses more on wealth accumulation, thus offering lower protection benefits and a lower premium outlay.
In case of the policyholder’s passing, a Universal Life Insurance Policy would also pay out a death benefit. The sum differs from policy to policy.
What is Tiq Easy Save?
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Tiq Easy Save is a non-participating universal life insurance plan which covers the life insured to 100 years old. It has a guaranteed crediting rate of 2% p.a for the first six years, crediting rates from the seventh year onwards will be based on prevailing crediting rates.
Do note that you will be subject to additional charges if you surrender the policy or perform a partial withdrawal, within the first six years. These charges can be high, especially if you surrender the policy or perform a partial withdrawal during the earlier part of the first six years. Please go over the plan’s Policy Illustration, Product Summary or General Provisions to understand how much these charges are.
There are, however, certain circumstances, as specified by Etiqa Insurance, which allows you to perform partial withdrawal(s) without any partial withdrawal charges,
There is a death benefit of 101% of the Account value upon passing of the policyholder. Policy protection will be up to specified limits of SDIC.
This policy can be purchased by anyone between the ages of 17 to 75 years of age (age next birthday). You can own multiple Tiq Easy Save policies at any one time. It also comes with COVID-19 Financial Assistance, which is inclusive of hospitalization fees, ICU fees, and death benefits due to COVID-19.
Why should I get Tiq Easy Save?
A tool to grow your money, Tiq Easy Save offers you stability with crediting rates of 2% p.a. guaranteed for the first six years, and flexibility with the choice to continue saving your capital or to withdraw without charges after the end of the six-year mark.
Attractive upfront premium discount
With a 1.5% discount off the first year premium of the Tiq Easy Save plan, save from the very start of the policy! Here’s how it works:
- You wish to purchase a policy worth S$200,000
- Instead of paying two yearly premiums of S$100,000 each, you choose to pay a lump sum amount of S$200,000 upfront
- This way, you enjoy 1.5% discount off one year’s premium (S$100,000), i.e. S$1,500!
- That means you only pay $198,500 upfront for a policy worth S$200,000
Have the option to withdraw your savings after the end of Year 6
Tiq Easy Save offers you the option to withdraw your savings partially or fully after the end of Year 6 and beyond with no extra charges.
This allows everyone an option at the end of Year 6 to reap the benefit from accumulating their funds. They can choose to continue their savings until 100 years old or withdraw completely without charges.
Upon choosing to leave their capital untouched and to continue saving at prevailing crediting rates, the returns accumulated can be useful when saving up for different goals and milestones with longer time frames, such as saving up for downpayment for a new home or for home renovations.
How can I learn more about Tiq Easy Save?
[Tranche closed as of 31st December 2021] Learn more about Tiq Easy Save here or click the button below! Plus, get up to S$250 Cash Rebates* when you purchase a Tiq Easy Save lump sum single premium through PolicyPalFA by Baoxianbaobao Pte. Ltd.
* You will receive the rebates in cash, credited directly into your mobile number-linked bank account via PayNow. Refer to the full Terms and Conditions.
# The P$10 PolicyPal Credits will be credited into your PolicyPal account. There must be at least P$20 Encashable Credits in your PolicyPal account before you can encash, so you may have to refer at least two persons before you can encash any P$ PolicyPal Credits. Refer to the full Terms and Conditions.
Contact us today on Whatsapp at +65 8750 0688 and we’ll get back to you. Alternatively, leave your details below and we will contact you at your convenience.
Disclaimers
* Refer to the full Terms and Conditions.
Tiq Easy Save is distributed by Baoxianbaobao Pte. Ltd, a subsidiary of the PolicyPal Group.
This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K) Protected up to specified limits by SDIC. Terms apply. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you.
Information is accurate as at 12 November 2021. This advertisement has not been reviewed by the Monetary Authority of Singapore.
