China Taiping e-Save is a short term Endowment plan that provide guaranteed returns of 4.10% p.a. at the end of 1 year. As this is a limited tranche, it is available on a first come first serve basis.
At a glance, the benefits of this endowment plan are
- Attractive guaranteed returns of 4.1% upon maturity after 1 year.
- Hassle-free application – no medical underwriting needed.
- Start from minimum single premium of S$50,000.
- Exclusively for online purchase only.
What are Endowment Plans?
Endowment plans are life insurance saving plans offered by insurance companies.
The aim is to help policyholders save towards specific financial goals. Policy holders can contribute a regular amount for a designated period of time or pay a lump sum upfront at the start of the policy.
Upon maturity of the policy, you will be given a lump sum payout with the guaranteed return. It is best to study the plan carefully as certain endowment plans offers non-guaranteed returns.
In this case, China Taiping e-Save offers you 4.10% p.a. guaranteed return upon maturity.
Summary of China Taiping e-Save
At this point of writing, the GREAT SP Series 10 has been fully subscribed. I searched around and China Taiping e-Save is the only endowment plan around right now.
Below is a summary of the Pros and Cons of China Taiping e-Save endowment plan.
- Short 1-year commitment.
- 100% capital guaranteed after 1 year.
- High interest rates at 4.10% p.a.
- You can purchase multiple policies. However, the total single premium per life insured across all such policies should not exceed SGD 200,000
- The only available endowment plan at this point of writing (1st April 2023)
- Minimum starts at S$50,000. Personally, I felt that this is slightly high.
- Cannot purchase using funds from your Supplementary Retirement Sum (SRS).