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Best Endowment plan in Singapore

 

In Singapore, Endowment plans plays a key role for plans that will require certainty such as Education planning, retirement planning and saving for purchasing a home as it provides a capital guarantee upon the policy maturity.

 

Additionally, shorter term endowment plans are often preferred seeking for specific needs such as saving for a down payment for a home, wedding. 

 

Let’s take a closer look and compare which is the best endowment plan in Singapore over a 10 & 15 years period.

 

For 5 year payment term with policy maturity in the 10th year

 (Based on the Illustrated Investment Rate of Return of the Participating Fund @4.25% p.a)

 

Insurer Singlife Income China Taiping
Plan Name Singlife Choice Saver Gro Saver Flex Pro I-Wealth Saver
Premium Term 5 years 5 years 5 years
Yearly Premium $10,128.90 $10,000 $9,962.50
Total Amount Saved $50644.50 $50,000 $49,813
Guaranteed Value upon Maturity $52,500 $51,509 $51,000
Projected Maturity Value @4.25% at 10th year $62,404 $61,967 $64,750
Projected Yield upon Maturity 2.63% p.a. 2.71% p.a 3.32% p.a
Death Benefit 105% Premiums Paid 105% Premiums Paid 105% Premiums Paid
Change of life Insured option Yes Yes Yes
Retrenchment Benefit Waiver of automatic premium loan’s interest NA NA

 

For 10 year payment term with policy maturity in the 15th year 

(Based on the Illustrated Investment Rate of Return of the Participating Fund @4.25% p.a)

 

Insurer Singlife Income China Taiping
Plan Name Singlife Choice Saver Gro Saver Flex Pro I-Wealth Saver
Premium Term 10 years 10 years 10 years
Yearly Premium $10,026 $10,000 $10,013.65
Total Amount Saved $100,260 $100,000 $100,137
Guaranteed Value upon Maturity $106,000 $104,271 $110,000
Projected Maturity Value @4.25% at 15th year $136,434 $135,855 $140,681
Projected Yield upon maturity 2.94% p.a. 2.93% p.a 3.25% p.a
Death Benefit 105% Premiums Paid 105% Premiums Paid 105% Premiums Paid
Change of life Insured option Yes Yes Yes
Retrenchment Benefit Waiver of automatic premium loan’s interest NA NA

 

Whether you are looking to save up for your retirement or for shorter term goals, enquire with our partner financial advisors to compare and recommend the best endowment plan in Singapore for you.

 

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