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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