The Gen XY Lifestyle
Want Your Investments to Do Good? This New Etiqa Insurance Plan Pledges a Cut for Charity
For many of us, making our money matter goes beyond just chasing returns.
There’s a growing desire to ensure our financial choices align with our personal values, whether that’s supporting sustainable businesses or contributing to social causes.
Tapping into this shift, Etiqa Insurance Singapore has launched a new initiative that bakes charity directly into its latest Takaful insurance products.
The company has pledged to donate 0.1 percent of all first-year premiums from its new Family Takaful products to the Community Chest of Singapore. This contribution comes at no extra cost to the policyholder and doesn’t affect their plan’s benefits.
To put it in perspective, the amount donated from a single policy is enough to fund a week’s pocket money for a primary school student.
Combining Financial Growth with Social Responsibility
The pledge was announced alongside the launch of Invest purpose, a new Shariah-compliant investment-linked plan. This move is part of a wider trend towards “values-based insurance,” which offers products that address the ethical and social concerns of customers through principles like risk-sharing and transparency.
Takaful is a form of Islamic insurance based on mutual support and shared responsibility.
“Today’s consumers are increasingly seeking to align their investments with their personal values, demanding products that deliver not only financial returns, but also a sense of purpose and social responsibility,” said Raymond Ong, CEO of Etiqa Insurance Singapore. “By combining the principles of values-based insurance with the act of giving, we are offering a pathway to purposeful wealth creation that resonates with a new generation of conscious investors”.
A Closer Look at the Plan
So, how does Invest purpose work? The plan combines wealth accumulation with Takaful coverage for death and terminal illness. It’s designed with flexibility in mind, allowing policyholders to choose premium terms of 10, 15, or 20 years, pause their premium payments without fees, and make two free partial withdrawals starting from the fourth year of the policy.
Beyond personal financial goals, the plan also provides a way to leave a lasting positive impact. Policyholders can nominate beneficiaries or choose to establish a Wakaf—a type of charitable endowment—to support meaningful causes even after they’re gone.
This approach offers a clear choice for those who want their financial planning to be not just a personal safety net, but also a force for good in the wider community.
Picture courtesy of Etiqa Insurance Singapore.
