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eEASY savepro

Depending on your selection of the policy term, this plan offers a return of up to 4.07% p.a. if you hold the policy until maturity. At the end of your selected policy term, you will receive a lump sum maturity benefit. As this is a capital guaranteed plan, the maturity benefit that you will receive will not be lower than the total premium you have paid during the policy term.
In the event of death during the policy term, your family will receive 105% of the total premium paid (not inclusive of interest and Automatic Premium Benefit) plus any attaching bonuses.

eEASY savepro is a participating insurance savings plan that provides a lump sum maturity benefit if you hold the policy until the end of the policy term. With this plan, you can choose from a selection of policy terms and annual / single premium amount to suit your savings needs.
This product is sold without any advice and priced without intermediary commission.

Under MAS regulations, we are required to identify and put in place safeguards for customers who are Selected Clients. A Selected Client is someone who fulfills two of the following:

  • 62 years and older;
  • Not proficient in spoken or written English; or
  • Has below GCE O-level or ‘N’ level or equivalent qualification.

If you are a Selected Client, you may only proceed with the online purchase if you are comfortable to do so without a Trusted Individual. A Trusted Individual is someone who meets all the following:

  • Is at least aged 18;
  • Possesses at least GCE ‘O’ or ‘N’ level certifications, or equivalent academic qualifications;
  • Is proficient in spoken or written English; and
  • Is a person you trust

Terms & conditions:

  • The above policy is underwritten by Etiqa Insurance Pte. Ltd. (“Etiqa”), a member of the Maybank Group.
  • This promotion is open to all Singapore citizen(s), Singapore Permanent Resident(s) and Foreigner(s) with valid Work Pass, Student Pass, Dependent’s Pass or Long-Term Visit Pass.
  • Promotion is valid from 1 Aug 2019 to 31 March 2020 (“Promotion Period”).
  • Daily deals (“Promotion”) are offered on a first come first serve basis and strictly while stocks last.
  • This Promotion is only applicable for online application via www.tiq.com.sg during the Promotion Period.
  • The Promotion is not transferable, exchangeable for cash or kind or extendable in validity.
  • Etiqa reserves the right to amend the Promotion mechanics as well as terms and conditions at any time at our sole discretion, including changing the terms or terminating the promotion at any point in time before the stated Promotion Period without prior notice, by posting such amendment(s) to www.tiq.com.sg.
  • This Promotion is not valid for customers who have cancelled or free-looked existing policy/policies within 14 days of policy application.
  • Redemption details will be sent to the qualified customers via email upon successful online application and within 6 weeks after the free-look period of 14 days.
  • Vouchers issued are not transferable, exchangeable for cash or kind or extendable in validity.

 

eEASY save V Promotion

  • For eEASY save V insurance savings plan, vouchers will be given based on the total premium paid or lump sum premium paid (before any discounts) during application as illustrated in the following table:
    Total Premium PaidVouchers Received
    = $25,000$50
    $26,000 – $50,000$110
    $51,000 – $100,000$220
    Above $100,000$500

 

eEASY savepro Promotion

  • For eEASY savepro insurance savings plan, vouchers will be given based on the total first year premium paid (before any discounts).
First Year Premium paidPolicy TermVouchers Received
S$5,0007 yearsS$40
S$10,0007 yearsS$100
S$30,0007 yearsS$360
S$50,0007 yearsS$650
S$80,0007 yearsS$1,120
S$100,0007 yearsS$1,500
S$5,00015 yearsS$200
S$10,00015 yearsS$500
S$30,00015 yearsS$1,800
S$50,00015 yearsS$3,250
S$80,00015 yearsS$5,600
S$100,00015 yearsS$7,500

Upfront premium discount is automatically extended when you opt to pay in one lump sum. This means that you pay less premium, and therefore enjoy a higher guaranteed maturity return of 0.33% p.a.

You can purchase this plan for yourself if you fulfil any one of the following:

  1. You are a Singapore Resident with a valid NRIC or FIN; or
  2. You are a foreigner and you own a valid Work Permit, Employment pass or Social pass.

Yes, you are able to buy more than one policy with us.

Participating policies

Participating policies are insurance policies which provide both guaranteed and non-guaranteed benefits (e.g. in the form of bonuses).

The premiums paid for a participating policy are pooled with those of other participating policies offered by Etiqa in a specially designated ‘participating fund’.

This fund invests in a range of assets such as bonds, equities, cash, deposits, loans or other assets. The policyholders are allowed to participate and share in the profits of the participating fund. This is paid in the form of bonuses.

Depending on the performance of the participating fund, bonuses are declared annually. Once it is added or vested in the policy, it forms part of the guaranteed benefit of the policy.

If you wish to know more about life insurance participating products, you may refer to “Your Guide To Participating Policies” (English) on our website or Life Insurance Association’s website. Alternatively, we can provide you with a copy of the guide upon request.

 

Non-participating policies

Non-participating policies are insurance policies which provide guaranteed benefits only.

The policyholder does not participate and share in the profits of the participating fund hence non-guaranteed benefits (in the form of bonuses) are not payable.

The guaranteed customer’s returns of non-participating policies are generally higher than participating policies. However, as non-participating policies do not participate in the profits of the participating fund, the total customer’s returns which consist of the guaranteed and non-guaranteed benefit (if any), are generally lower than participating policies.

eEASY savepro is a participating plan. As such, the premiums paid are pooled with those of other participating policies offered by Etiqa in a specially designated ‘participating fund’. This fund invests in a range of assets such as bonds, equities, cash, deposits, loans or other assets.

First Premium PaymentSecond Premium Payment Onwards

1) PayNow QR. You will be required to login to your mobile banking app to scan the QR and make the premium payment;

2) Direct Debit – POSB or DBS account;

3) PayNow Transfer (UEN: 201331905KDP1).

 

This payment can be made through the following options after you receive our premium notice closer to the premium due date:

 

a) GIRO through a DBS/POSB bank account registered with us during application.

This is only applicable if the first premium payment is paid via Direct Debit – POSB or DBS account.

b) PayNow Transfer Up to S$200,000 (UEN: 201331905KDP1).

Kindly note that for payments using PayNow QR and Direct Debit, policies are issued immediately once payment is successful.

For PayNow UEN and FAST transfer, kindly select ‘Pay Later’ Option when prompted. Once selected, an email will be sent to you as an acknowledgement of your application submission. Please be reminded to indicate your Reference Number under Transaction Reference. Kindly note for a premium size above S$200,000, you may be required to make multiple transfers.

(Promotional offer only)

The premium discount offered on the first year premium may vary depending on whether the ‘Lump Sum’ premium payment option is selected. The ‘Lump Sum’ option allows you the convenience of pre-payment of second-year premium upfront at the point of application.

Once you have opted in and paid for the lump sum payment option:

  • No premium payment is required at the end of the first policy year.
  • Withdrawal of the pre-paid second-year premium is not allowed during the policy term after the 14-day free-look period.
  • Change of payment option is not allowed.

In the event you surrender the policy before the end of the first policy year, we will refund the second year premium (without any interest) and the surrender value.

Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, the fourth largest banking group in Southeast Asia with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years. As a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS), we are governed by the Insurance Act.

Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting more than 300,000 homes since 2009.

In 2014, Etiqa added a comprehensive suite of life insurance solutions, including protection, savings and retirement solutions to our portfolio to better serve our growing customer base and the needs of the modern day consumer. We are rated “A-” by Fitch in 2017 for our financial strength and stable outlook.

Our relentless dedication to being a digital and innovative insurer has resulted in new solutions, such as pioneering EASY save series of savings plans online and direct to customers, and the delivery of a customer-centric experience, such as offering real-time flight delay claims for travel insurance, and usage-based car insurance. For more information, visit our corporate profile and media centre.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites.

You should consider your financial commitments (e.g. loans, family expenses and children’s educational needs) and existing insurance coverage, including insurance provided by your employer, when deciding the insurance coverage that you need. You may use the Insurance Estimator from Central Provident Fund to help you decide on the amount of coverage you need.

You should also consider whether you can afford to pay the premiums for the entire duration of the policy, taking into account your outstanding loans, regular expenses and your income over the long term. If you are unable to pay the premiums, your insurance policy will lapse (or end) and you will no longer be covered. You may use the Budget Calculator available on the MoneySENSE website to check if the premium is affordable based on your current income and expenditure.

You may also consider the different types of Direct Purchase Insurance (DPI) and other types of life policies available, and whether the life policy is suitable for your financial circumstances and needs. To do this, you may visit the Compare First website to understand the features and premiums of DPI and other types of life policies.

You may contact our friendly Customer Care Consultants via WhatsApp at  +65 6887 8777 during our operating hours – Mondays to Fridays, 8.45am to 5.30pm. We are closed on Saturdays, Sundays, and Public Holidays.

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