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You may make an ad-hoc or recurring top-up up to age 78 (age next birthday) of the Life insured.

ELASTIQ is a single premium, non-participating universal life plan denominated in SG dollars. It matures on the policy anniversary immediately before you reach 100 years old. It offers the financial flexibility, opportunity for wealth accumulation and the assurance of life insurance coverage through providing death benefit.

  • Grow your Wealth with Crediting Rates
    As a policyholder of ELASTIQ, you will enjoy a guaranteed crediting rate of 1.80% p.a. on your initial single premium paid to us for the first 3 years from policy issue date. Thereafter, the crediting rate will be determined by us based on the prevailing rate, subject to the minimum guaranteed crediting rate of 0% p.a. which ensures that your capital is fully guaranteed each year.
    The prevailing rate is currently illustrated at 1.80% p.a.
  • Financial Flexibility with Top-up(s) and Withdrawal(s)
    ELASTIQ allows you to enjoy the freedom of financial flexibility through the availability of ad-hoc / recurring top-up(s) and partial withdrawal(s) without any charges. You will continue to earn crediting rates on any top-up(s) made to the policy based on prevailing market conditions.
  • Life Cover
    In the event of death during the policy term, 106.8% of the Account value, less any amounts owing to us, will be paid as the death benefit and the policy ends.We are unable to pay the death benefit for death from suicide within the first 12 months or 12 months following the last top-up made, whichever is later; and for any death due to pre-existing conditions throughout the policy term. Please refer to the policy provisions for more details.
  • Be rewarded with loyalty bonuses
    ELASTIQ offers a non-guaranteed loyalty bonus, equivalent to 0.3% of the average monthly Account value for the past 36 Policy months, at the end of the 3rd Policy year and at every subsequent 3 Policy year interval (6th, 9th, 12th, 15th, 18th Policy year and so on), as long as no partial withdrawal has been made before.
  • Long term benefits to age 100
    Enjoy the hassle-free benefits of ELASTIQ to age 100. At maturity date, if the policy is still in force, the maturity benefit payable is the Account value less any amounts owing to us.
  • Flexibility to Change the Life Insured (Available to entities only)
    Where the Policy owner is an entity, the Policy owner has the option to request for a change of Life insured under this policy, after the first Policy year, subject to the following conditions:
    • Acceptance of the new Life insured is subject to our approval, depending on the insurability of the new Life insured and such other terms and conditions as we shall determine from time to time. The new Life insured must be a Key personnel of the entity;
    • All exclusions and conditions will be applicable to the new Life insured. The exclusions and conditions to this policy will begin from the effective date of the change of Life insured; and
    • The policy term will remain unchanged. The policy will mature on the policy anniversary immediately before the original Life insured attains 100 years old.

    There are no restrictions on the number of changes that can be made.

The Account value is calculated as the single premium paid plus;

  1. any recurring Top-up(s);
  2. any ad-hoc Top-up(s); and
  3. accumulated interest;

less any partial withdrawal(s).

Universal life plan is a whole life insurance that offers flexibility in the amount and timing of premium payments. This plan pays a death benefit and allow build-up of cash value through offering interest crediting rate. Our universal life plan offers a guaranteed minimum interest crediting rate.

You can purchase this plan for yourself if you fulfill the following criteria:

    1. You are a Singapore Resident with a valid NRIC or FIN; or
    2. You are foreigner but you must be holding a valid Work Permit, Employment pass or Social pass.
    3. You are between age 17 to 75 (age next birthday).

You are only allowed to purchase and hold one ELASTIQ policy at any time.

Kindly note that a re-purchase of ELASTIQ within the same tranche is not allowed once you have free-look / surrendered your policy.

You may select a single premium amount between S$5,000 and S$50,000, in multiples of S$1,000.

The single premium is payable via the following methods;
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 UEN Transfer 
     – Please be reminded to indicate your Reference Number under Transaction Reference.
4. FAST Transfer 

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.

If your application and premium payment are successful, you will receive a confirmation email with your policy documents.

Your policy status such as your Account value is available to view on TiqConnect via Etiqa’s website (www.etiqa.com.sg).
An annual policy statement will also be sent to you. This document aims to keep you informed of the status of your policy such as the Account value, total Top-up(s) and total partial withdrawal(s).

You may make an ad-hoc or recurring top-up immediately after the policy issue date by logging into your personal account on TiqConnect.

The Top-up(s) made are subject to the following:

  • The minimum amount for each Top-up must be at least S$500;
  • Top-up(s) amount must be in multiples of S$500; and
  • For policies where the single premium is below S$200,000, the maximum aggregate amount for all Top-up(s) per policy is S$200,000 less the single premium paid to us.
  • For policies where the single premium is equal to or above S$200,000, no Top-up(s) are allowed.

You may make a request to change your recurring top-up amount via TiqConnect. If your top-up request is successful, the first deduction date will follow the Scheduled Deduction Dates.

Kindly note that for recurring top-up(s), only monthly top-up frequency is allowed.

There are no charges imposed for any top-up(s). Your Account value will increase by the amount of Top-up(s) made to the policy.

Policy Anniversary DateScheduled Deduction Dates
1st attempt2nd attempt
(If 1st attempt unsuccessful)
1st of current month to 15th of current month10th (of current month)25th (of current month)
16th of current month to 31st of current month25th (of current month)10th (of following month)


We will notify you of any failed attempt to deduct the recurring top-up(s) from the designated bank account. Kindly note that after two (2) unsuccessful deductions, the GIRO facility will be discontinued.

You may withdrawal money from your policy through the following ways:

Partial Withdrawal
You may request for partial withdrawal(s) 90 calendar days after the policy issue date, subject to the following:

  • The withdrawal amount must be at least S$500 (or its multiples) per withdrawal.

Partial withdrawal will reduce the Account value by the withdrawal amount.

Full Surrender

Upon full surrender, we will pay the surrender benefit in one lump sum which is equivalent to the Account value, less any amounts owing to us. You may request for a full surrender any time after the free look period.

A service fee of S$5 will be charged at the end of each Policy month if your average daily Account value for the Policy month falls below S$5,000.

You may make a partial withdrawal 90 calendar days after the policy issue date by logging into your personal account on TiqConnect. Based on your preferred method, you may choose to receive the partial withdrawal amount via PayNow (using your NRIC) or Direct Credit to your DBS/POSB bank account registered with us during application (if any).

There are no charges imposed for any withdrawal(s) made. Your Account value will decrease by the amount of withdrawal(s) made to the policy.

Interest is calculated based on daily Account value on a compounded basis. This means that the interest calculated each day is based on the daily Account value (which has taken into account all prior top-ups and partial withdrawals that was made, including interest that has been accrued).

If you have submitted a request via TiqConnect, you may refer to ‘My Request’ tab on your personal TiqConnect account for all your request status including any Top-up(s) and Partial withdrawal(s).

This product is sold online without advice. You are recommended to read the Product Summary, Policy Illustration and policy documents for the exact terms and conditions, specific details and exclusions applicable to this insurance product that can be obtained from us. You are advised to seek financial advice before deciding whether to purchase the policy. In the event that you choose not to seek financial advice, you should consider whether the policy is suitable for you and meets your needs in light of your objectives, financial situation and particular needs.
You may contact our friendly Customer Care Consultants through Whatsapp at +65 6887 8777 during our operating hours – Mondays to Fridays, 8.45am to 5.30pm, for assistance.

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 compareFIRST website to understand the features and premiums of DPI and other types of life policies.

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

Upon full surrender, we will pay the surrender benefit in one lump sum which is equivalent to the Account value, less any amounts owing to us within 5-7 working days. We reserve the right to delay the payment of the surrender value for up to a period of 6 months from the date of your surrender application. You may request for a full surrender any time after the free look period by writing in to our Customer Care at customer.service@etiqa.com.sg. There are no surrender charges for ELASTIQ.

If you are preparing to surrender or terminate any of your existing life insurance policies with this new proposal, you may wish to note that you may not receive any returns under your existing policies or the returns may be lesser than the total premium paid.

Also, please note of the disadvantages of replacing your existing plan:
a) You may not be insurable on standard terms;
b) You may have to pay a higher premium for the same level of benefits;
c) You may lose the financial benefit accumulated over the years; or
d) The terms and conditions may be different.

You should seek the advice of your financial adviser when in doubt or if you require further clarification.

You may return this policy for cancellation within 14 days after you receive the policy document, for any reason. We will deduct any costs incurred by the company in assessing the risk under the policy, such as payments for medical check-up and other expenses, from the premium you paid and refund the balance to you.
If your policy document is sent by email, we consider this policy is delivered to you 1 day after the date of emailing.

To file for a claim, written notice must be given to us within 3 months of the occurrence of the claim event. The claimant must supply at his/her own expense, all certificates, information and evidence required by us for assessment of the claim. We reserve the rights to conduct a post-mortem and we will bear the expenses.

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 web-sites (www.lia.org.sg or www.sdic.org.sg).

Your premiums are invested mostly in bonds. Investment return is affected by bond performance like dividend yield and actual profit / loss realization in addition to policyholder’s behaviour like tops-up, withdrawal, surrender, etc.

Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and governed by the Insurance Act. It is an insurance arm of Maybank Group which is among Asia’s leading banking groups and South East Asia’s fourth largest bank by assets. To know more about our corporate profile, visit our website at www.etiqa.com.sg.

Our Customer Care team will be happy to take your questions during operating hours from Mondays to Fridays, 8.45 am to 5.30 pm. You may also contact us through WhatsApp at +65 6887 8777 or visit our website at www.etiqa.com.sg to start a live chat with us.



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