The single premium endowment plan has gained popularity over the recent years. With the successful launch of NTUC Income’s Capital Plus and China Taiping’s i-Save, Aviva decided to jump on the bandwagon by offering a similar three-year endowment plan called MySecureSaver. The plan offers 2.25% Guaranteed Interest per year for 3 years, which is higher than banks’ fixed deposit rates and Singapore Savings Bond (SSB)‘s interest.
What is MySecureSaver?
Aviva’s MySecureSaver is a single premium, non-participating savings plan. This means that all returns are guaranteed. The plan offers:
- Guaranteed maturity yield – 2.25% over 3 years.
- Capital guarantee upon maturity.
- Guaranteed issuance without the need for medical check-ups – hassle-free application.
- Death Benefit – pays out 101% of your single premium upon your death.
How does MySecureSaver work?
Suppose you want to save for the down payment of a new home in three years’ time and you don’t want to invest in the stock markets amidst the US-China Trade War.
You will receive $213,820 for a $200,000 savings.
How can you buy this plan?
Unlike other single premium plans which you can only use cash, you can use either of the following to fund this plan.
The minimum premium requirement is $20,000 and the maximum premium you can buy per person is $1 million.
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Hi Ivan, is this still available now?
Hi, Sabrina, it is closed already.
Is it still available?
Dear Foo Pit Joon,
The product will close on 15 September 2019.
If someone invest $200K after 3 years he or she will get $213,500 because $200k = 2.25% per year is $4.5 k and there years is $13.5k so total is $213.5K only.
Hi Rohani, this product will pay you more than that as the interest is compounded at 2.2522%. Your calculation was based on simple interest.
May I know if Aviva MySecureSaver is still available?
There’s a typo in your content.
Just above the image illustration, “You will receive $213,920 for a $200,000 savings.”
should be “You will receive $213,*8*20……..”
Thank you for the highlight. I have made the amendments. 🙂