The Gen XY Lifestyle
Tiq CashSaver: A Flexible Endowment Plan for Financial Security
Etiqa Insurance Singapore has launched Tiq CashSaver, an endowment plan designed to address the evolving financial needs of young families and adults.
Tiq CashSaver offers comprehensive protection, flexibility, and peace of mind, making it an ideal choice for those seeking to secure their financial future.
The Challenge of Saving Amidst Rising Costs
According to Etiqa’s 2023 Financial Fitness Survey, only 41 percent of respondents consistently allocate funds for savings each month. High living costs and indulgences such as travel and personal hobbies often deter individuals from prioritising savings.
Tiq CashSaver aims to change this by encouraging a habit of regular saving with its low minimum monthly savings amount.
Key Features of Tiq CashSaver
- Affordable Savings: Tiq CashSaver allows individuals to start saving from just SGD 125 per month. This modest amount encourages a consistent savings habit.
- Flexible Duration: Policyholders can tailor their savings horizon by choosing different premium payment durations. Options include paying premiums over 2 years (saving from 6 to 10 years) or over 5 years (saving from 11 to 15 years). Premiums can be paid monthly, quarterly, half-yearly, or yearly.
- Yearly Cash Payouts: Starting from the end of the second policy year, Tiq CashSaver provides a steady flow of supplementary income. Policyholders can withdraw these yearly cash benefits to meet their financial goals.
- Capital Guaranteed: At maturity, policyholders receive 100 percent of their capital back. This guarantee ensures a stable foundation for their future financial needs.
- Protection and Flexibility: Tiq CashSaver serves as a safety net. In the unfortunate event of death or terminal illness, Etiqa reimburses 101 percent of the total premiums paid. Additionally, accidental death triggers an additional 50 percent payout. Policyholders can request an extended grace period during tough financial circumstances, and future premiums are waived if the policy owner becomes totally and permanently disabled during the premium term.
Hassle-Free Application Process
Tiq CashSaver’s online application process requires no medical examinations, making it convenient and accessible for all applicants.
To learn more about Tiq CashSaver, visit their website.
Remember, terms apply, and the plan is protected up to specified limits by SDIC.
Graphics credit to Etiqa Insurance Singapore
