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. With the increasing stock market volatility, rising geopolitical risks, and escalating US-China trade war, a lot of people are not sure where they should put their retirement funds.
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 2.05% GUARANTEED compounded interest. If you put in $100,000, you will get back $106,280 in 3 years’ time, Guaranteed! It means for every dollar you put in, you get back 106.28% of it.
The benefits of this plan are:
- Guaranteed returns of 2.05% 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.
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
As a licensed financial adviser, we are an authorized distributor for this product.
Like all other short-term endowment plans, this offer is on a limited tranche basis. It means it can be snapped up pretty quickly. 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.
Note this post has been updated to reflect the latest offer. Leave your comment below if you have any questions.
Update: this tranche is fully subscribed.
If you want to be updated on similar offers in the future, please subscribe to my mailing list using the form below.