2020 is shaping up to be an awkward year in life and the economy. With the country in recession and headed for more job losses1, the outlook is bleak for everyday people like us trying to plan for the future.
If saving money was a climb before, it’s a scramble now for those of us looking to secure our finances in stormy weather.
More often than not, traditional financial assets entail demanding payments, which present a high entry barrier to those attempting to save in tough times.
We’re talking insurance savings plans with high minimum premiums, financial securities, art collecting, real estate investment… We speak for everyone in saying: we need a holiday.
The good news is: there’s another way. With GIGANTIQ, the new all-in-one insurance tool by Tiq – the digital channel of Etiqa Insurance, S$50 is all it takes to begin saving for your dreams. For your budget, wherever you are with your personal finances, you already have enough to start.
Keep reading to find out how.
Saving money is a state of mind
While perhaps overstated, saving money is about much more than just money – it’s about discipline. The commitment that starts you saving your first $50 sets the stage for your next $500 and onwards.
Watching your balance climb is addictive in all the best ways, and especially rewarding when you have attractive interest rates in your corner.
GIGANTIQ, your all-in-one insurance tool, offers a crediting rate of 1.8% p.a.2 on your first S$10,000 for the first year, available on a first-come-first-served basis. This means that from the moment you pay your first premium, your savings are already growing.
Your emergency fund cannot wait
It’s never too early to start building a robust emergency fund, and much easier than you might think with the right tools. This is money that serves to sustain you and your dependants through financially challenging times, such as retrenchment and the incursion of sudden, large medical expenses.
In hopes that you never need the money in that way, you can treat your emergency fund as a backup plan for your life goals, should financing a house, a wedding or an education require it.
GIGANTIQ puts control where it belongs – in your hands. Enjoy the flexibility of no lock-in period and withdraw^ your funds whenever you like. A feature coming soon, enjoy flexibility to turn your insurance protection on and off as you need to. That way, you never pay for more insurance than you want, and your savings remain always within reach.
If you do choose to fortify your coverage with our modular protection plans3, you stand to earn cumulative interest of up to an additional 0.25% p.a. on your first S$10,000 for every protection plan purchased. Why leave your money lying around when you can have it do the heavy lifting? That’s certainly something to look forward to.
Do you have extra cash on hand? GIGANTIQ grants flexibility with top-ups so you can earn even more in interest. With your capital guaranteed, your policy automatically renews each year if your account contains at least S$50. Enjoy protection while growing your savings, completely hands-free.
Make the market work for you
It takes time to find the best insurance savings option for your budget and priorities. With GIGANTIQ, you won’t be searching for long.
With a minimum account value as low as an obliging S$50, GIGANTIQ keeps you earning interest, soon with life protection add-ons including accidental death, cancer and total permanent disability coverage. Stay tuned for more diverse coverage options to come.
GIGANTIQ is presently exclusive to TiqConnect account holders. If you don’t have a TiqConnect account, don’t hesitate to leave your contact information here to receive notifications when GIGANTIQ opens up to everyone.
The time is now
Whether you are a student or a seasoned professional, it’s never too early (or too late) to take your finances into your own hands. GIGANTIQ keeps you earning but always in control, so you get to curate your financial planning according to your unique needs. Download the Tiq by Etiqa mobile app to begin exploring this powerful all-in-one insurance tool here.
2 Guaranteed 1% p.a. + 0.8% p.a. bonus (first S$10,000) for first policy year; and Guaranteed 1% p.a. for additional account value above first S$10,000. Prevailing market rates for subsequent policy years with your capital guaranteed. Available on a first come, first served basis.
3 Selected Life or General insurance products offered as supplementary coverage under GIGANTIQ from time to time. Additional interest earned from each rider is only applicable to the first S$10,000 while rider is active. ^Terms apply.
GIGANTIQ is not a bank account or a fixed deposit. It is an insurance savings plan that earns a crediting interest rate.
This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC.As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is accurate as at 27 November 2020. This content is for reference only.
Tiq by Etiqa Insurance Pte. Ltd.
A digital insurance channel that embraces changes to provide simple and convenient protection, Tiq’s mission is to make insurance transparent and accessible, inspiring you today to be prepared for life’s surprises and inevitabilities, while empowering you to “Live Unlimited” and take control of your tomorrow.
With a shared vision to change the paradigm of insurance and reshape customer experience, Etiqa created the strong foundation for Tiq. Because life never stops changing, Etiqa never stops progressing. A licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore, Etiqa is governed by the Insurance Act and has been providing insurance solutions since 1961. It is 69% owned by Maybank, Southeast Asia’s fourth largest banking group, with more than 22 million customers in 20 countries; and 31% owned by Ageas, an international insurance group with 33 million customers across 16 countries.
Discover the full range of Tiq online insurance plans here.