It’s a scene that’s all too familiar with many people: You get your hard-earned income by the end of the month and you see those digits quickly go down because of your monthly expenses, either for yourself or your household.
At this point, you might think that it’s near impossible to save money for the future, let alone grow it further – but with Tiq by Etiqa Insurance’s EASY save series, you can easily achieve your financial goals with its simple and hassle-free insurance savings plans.
Talking with insurance companies may sound daunting for some people because of the cumbersome paperwork and agent fees, but Tiq by Etiqa Insurance promises a convenient journey for individuals, particularly the time-pressed and financially-savvy ones, with the option of buying insurance savings plans online at their convenience.
This August, the pioneer in online insurance savings plans has relaunched its EASY save series, which is composed of two plans that offer competitive returns on your savings and life insurance coverage: eEASYsave V and eEASYsavepro.
eEASY save V: Pump up your savings
Being committed to an insurance savings plan can be tricky because, at the point of your signup, you may be quite unsure of how long you want to leave your funds to grow. But with the eEASY save V insurance savings plan, that won’t be an issue because policyholders have the option to withdraw their funds as early as six years into the plan without any charges. Otherwise, you can continue to hold your fund until its maturity date.
- High crediting rates
You can now enjoy a guaranteed 2.68 per cent p.a. crediting rate for the first six years to optimise your savings and achieve your financial goals. Thereafter, the crediting rate will be determined by Etiqa Insurance, subject to its minimum guaranteed crediting rate.
- Short premium term
eEASY save V has a premium payment of one or two years. It offers the opportunity for wealth accumulation, financial flexibility and life insurance coverage. If you make an upfront lump sum payment, you get to enjoy a three per cent discount on your one year premium amount.
- Short lock-in period
You can either make partial withdrawal or full surrender at the end of the sixth year without incurring charges, or continue to save with crediting rates based on prevailing market rates.
The plan also comes with enhanced features such as a free partial withdrawal benefit and non-guaranteed loyalty bonus equivalent to 0.6 per cent of the account value.
eEASY savepro: Grow your wealth
For financially astute individuals looking at growing long-term wealth, an insurance savings plan with high potential yield is ideal, especially if you’re thinking about saving for your child’s future or purchasing your own home. The eEASY savepro plan, a participating policy, has a high potential return of 4.07 per cent p.a.* with choice of policy term of seven or 15 years.
In a participating policy, it enables you as a policyholder to share the profits of the insurance company – in the form of bonuses or dividends.
- High potential returns
Depending on your choice of policy term, eEASY savepro offers a potential yield of up to 4.07 per cent p.a.* if you hold the policy until maturity. At the end of your policy term, you will receive a lump sum maturity benefit. As this is a plan where the capital is guaranteed upon maturity, the maturity benefit will not be lower than the total premium you have paid during the policy term.
- Insure and save
With this plan, more than 100 per cent capital is guaranteed upon maturity due to upfront premium discounts. It also offers death benefit of at least 105 per cent of total premiums paid.
- Flexible premium payments
Depending on the policy term, customers can choose from the following options:
Option 1: Pay a lump sum premium payment for one year and reap savings after the policy’s maturity in the seventh year. Entitled to 4.5 per cent upfront premium discount off one year premium.
Option 2: Pay a yearly premium for two years and get back your savings after the policy’s maturity in the seventh year. Entitled to 1.5 per cent upfront premium discount off one year premium.
Option 3: Pay a yearly premium for 10 years and see your wealth grow after the policy’s maturity in the 15th year. Entitled to 4.5 per cent upfront premium discount off one year premium.