Pump up Your Savings with Tiq by Etiqa Insurance’s eEASY save V: Guaranteed 2.68% p.a. Crediting Rate + Rewards Points & Cash Vouchers worth up to $650

, | 26 Nov 2019

We heard you! Etiqa’s brought back their eEASY save V plan now with a 2.68% guaranteed return!

 

Lifetime costs for BTO, wedding and children’s education can be tricky to save up for. With so many big-ticket expenses in the earlier halves of our lives, some people are simply finding it hard to get the necessary funding! With the risk of losing it all in high-risk investments and the low returns of low-risk investments, will there ever be a mid-ground for risk-averse investors?

Fret not! Tiq by Etiqa Insurance has brought back their Savings Insurance plan in collaboration with PolicyPal. With this product, we here at PolicyPal aim to help those looking for a long term investment with better rates than others in the market. With higher guaranteed returns, attractive upfront premium discounts and not to mention rewards points and cash vouchers of up to $650 for every purchase, you can tell that we’re going all out to satisfy you!

 

If you’re wondering how this product can benefit you, here’s an explanation of how big of an impact the eEASY save V plan can have. For our example, we’ll use our friend Michelle. 

Michelle here is a 31-year-old newly-wed who has $100,000 that she wants to put into a safe investment. Her ideal retirement age is 65, with plans to have a daughter and be financially able to pay for her university education. Being an avid investor, her short-term plans include saving up to pay for the downpayment for her second property. Therefore, she wants her money to work for her to achieve her future financial goals. That’s where the eEASY save V comes in!

 

Why eEASY save V?

1. It has one of the highest crediting rates in the market

Optimise your savings and retire comfortably with guaranteed 2.68% p.a. crediting rate (for the first 6 years) with a premium size of $20,000 to $200,000. In addition, you can enjoy a non-guaranteed Loyalty Bonus equivalent to 0.6% of the Account Value at the end of 6 years. If we use Michelle as our example, she would’ve received $115,537 by the end of her 6th year!

It is worth noting that the loyalty bonus applies at every 6th policy year so long as no partial withdrawal has been made prior.

2. Attractive upfront premium discounts

Get a 1.5% discount off your lump-sum premium when you purchase the eEASY save V plan online. A quote can be generated in a few simple steps and approval is immediate. That means Michelle only pays a $98,500 single premium for a $100,000 premium savings plan!

Michelle would’ve already saved $1,500 for her next financial goal!

3. The option to withdraw your savings by the 6th year

eEASY save V is a flexible insurance savings plan. Under certain terms and conditions stated in the policy wording, partial withdrawals can be made without incurring penalties.

Michelle has plenty of options to consider when she reaps the benefits from her accumulated funds. She can either continue holding funds until 100 years old (the maturity date) or withdraw her funds without charges. 

With her capital untouched, here’s how Michelle can meet her goals with her interests!

How you can achieve your financial goals with eEASY save V.

Let’s see how Michelle does it in the table down below! Michelle can choose to do one of three things with her money. This would help her achieve her short term or long term goals.

Short-term goal (Downpayment for the second property)

At 36 years old, Michelle can withdraw $115,537 at no penalty. That’s $15,537 more to pay for her second property!

Mid-term goal (Child’s Tertiary Education)

Got plans to save for long-term goals? Have a child that’s planning to pursue a university degree? With the eEASY save V plan, at 45 years old Michelle has her daughter’s university fees settled without incurring debt.

At the end of 15 years, she can enjoy $147,611 upon withdrawal at no penalty. That’s $47,611 to cover her daughter’s education fees. 

Long-term goal (Retire by 65 Years Old)

By 65 years old, Michelle gets to enjoy the fruits of her labour, as she takes a permanent break from working.

At the end of 35 years, she can enjoy $255,043 upon withdrawal at no penalty. That’s $255,043 to retire comfortably and enter the next phase of her financially-liberated life. Living on a $5,000/month luxurious budget, she would need at least 31 months to exhaust her interests alone!

Read more: Can You Retire Early with Short-Term Endowment Plans?

What can you do with your rewards?

As an added bonus PolicyPal will be giving both rewards points and attractive vouchers with every policy bought! Depending on your premium size, you may be eligible to get up to $650 worth of rewards points and cash vouchers from either CapitaLand or NTUC FairPrice.*

P$ is the in-app currency for our PolicyPal App. P$1 is equivalent to SGD$1 in our app and can be used to offset your insurance purchases. For example, if you have P$20 in your account, you can get $20 off when you purchase an insurance policy. The currency can also be used to change for other rewards, stay tuned to find out more!

*Terms and Conditions apply

Note: The eEASY save V endowment/savings plan can only be purchased through our PolicyPal Mobile App. Should you require further assistance, feel free to email us at [email protected]!

 

Important Notes 

This is for general information only. You can find the usual terms and conditions of this plan in the policy contract. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance adviser. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. Buying a life insurance plan is a long-term commitment on your part. If you cancel your plan prematurely, the cash value you receive may be zero or less than the premiums you have paid for the plan.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information is correct as of 22 November 2019.

PolicyPal


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