Tiq 3-Year Endowment Plan is a short term Endowment plan that provide guaranteed returns of 3.95% p.a. at the end of 3 years. The single premium non-participating life insurance savings plan is offered exclusively to Singtel Dash customers by Etiqa Insurance for a limited period only.
This is a limited tranche and will end on 21st December 2022 or earlier if fully subscribed.
The minimum premiums starts from S$5,000 to a maximum of S$1,000,000. No medical assessment is required which means guaranteed acceptance regardless of your health condition.
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.
Tiq 3-Year Endowment Plan Return and Benefit
For an investment of S$10,000, you will receive S$11,233 upon maturity.
Tiq 3-Year Endowment Plan versus Singapore Savings Bond (SBJAN23 GX23010Z)
If you hold the latest issue of Singapore Savings Bond (SBJAN23 GX23010Z) for 3 years, the average return per year is 2.95%.
| Year from issue date | Interest % | Average return per year %* |
| 1 | 2.95 | 2.95 |
| 2 | 2.95 | 2.95 |
| 3 | 2.95 | 2.95 |
This is where Tiq 3-Year Endowment Plan is more attractive than the current issue of Singapore Savings Bonds.
Summary
If you are interested, you can sign up via this link. Fear not, this is not a sponsored post and I do not earn my commission via the above link.
Just like you, I am writing this post to compare financial instruments so that I can make my money work harder for me while I sleep.