The latest Tiq 3 Year Endowment Plan launched in August 2023 can give you up to 4.80% p.a. This is a single premium, non-participating life insurance savings plan. This plan has a policy term of 3 years. A lump sum guaranteed maturity benefit will be paid at the end of the policy term.
Similar to past tranches, this is offered based on a limited tranche and will end once fully subscribed.
It is important to note that there is a catch to earn up to the maximum of 4.80% p.a. and I shall share more details below.
What are Endowment Policy or Plans?
Endowment Policy or 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.
How Tiq 3 Year Endowment Plan Works?
The Tiq 3 Year Endowment Plan only provide you with 3.40% p.a. guaranteed maturity returns.
To enjoy the additional 1.40% p.a. guaranteed maturity return so that total return is 4.80% p.a., you need to sign up for an Eligible Insurance Plan.
The Eligible Insurance Plans are:
- Essential term life cover
- Essential whole life cover
- Essential Cancer Care
- Invest starter
- Invest builder
- Invest smart flex
| Guaranteed Maturity Return for Tiq 3 Year Endowment Plan | 3.40% p.a. |
| Additional Return with Eligible Insurance Plan | +1.40% p.a. |
| Guaranteed Maturity Return | 4.80% p.a. |
Receive Cashback
Based on the amount of premium you purchase, you will receive either S$100 or $250 cashback.
| Single Premium of Tiq 3-Year Endowment Plan | Cashback |
| $100,000 to S$200,000 | S$100 |
| S$201,000 and above | S$250 |