If you want to receive Guaranteed Return without locking in your capital for long, you should consider a Short-Term Endowment Plan.
An endowment plan is the simplest form of investment. You pay a premium to the insurer who promises you a guaranteed return in a fixed number of years.
In the past couple of years, short-term endowment plans become very popular in Singapore. If you just want to earn a higher return than the bank’s deposits or Singapore Savings Bond and don’t want to invest in the stock market, you may consider the latest offer by China Taiping Insurance, i-Save (i-盈).
This is 3-year single premium endowment plan with 1.96% GUARANTEED compounded interest. If you put in $100,000, you will get back $106,000 in 3 years’ time, Guaranteed! It means for every dollar you put in, you get back 106% of it.
The benefits of this plan are:
- Guaranteed returns of 1.96% p.a. for 3 years.
- Return is compounded.
- Death coverage during the policy term.
- Guaranteed Issuance: No medical check-up.
- Available to anyone between ages 1 and 80.
- Easy start with a minimum of $30,000.
Below is the illustration for every $10,000 investment.
The guaranteed Yield at Maturity represents the annualized investment return you may receive upon the maturity, net of the cost of insurance and the expenses incurred.
Is the return safe?
Yes, the return is guaranteed by the insurer, and the product is covered under the Policy Owner Protection scheme. It means in the event if the insurer goes under, MAS may activate the Policy Owner Protection Fund to compensate the policyholders. As of now, up to S$100,000 aggregated surrender value is guaranteed by MAS.
Many people have reserves for China companies, but you are living in the 80s. China Taiping is one of the Fortune 500 today. You can check China Taiping Insurance’s profile here.
In fact, China Taiping insurance has started doing business in Singapore since 1938. Many Singaporeans have purchase motor insurance from China Taiping Insurance before.
How to subscribe to i-Save endowment plan
You can subscribe through Bank of China or any of the licensed financial advisers listed on China Taiping’s website from Oct 19.
Like all other short-term endowment plans, this offer is on a limited tranche basis. It means it can be snapped up in a matter of days. Subscription is on a first-come-first-served basis. Please note the following:
- The minimum premium is $30,000 and the maximum premium is $1,000,000.
- The plan is only available for cash subscription, SRS is NOT allowed.
If you want to be updated on similar offers in the future, please subscribe to the mailing list using the form below.