Etiqa SG unveils Tiq CashSaver for young families and adults

The minimum monthly savings amount starts at S$125.

Etiqa Insurance Singapore has launched Tiq CashSaver, a capital-guaranteed endowment plan tailored for the financial needs of young families and adults.

Available online through Tiq by Etiqa, Tiq CashSaver enables clients to choose the length of the plan and the premiums paid. Minimum monthly savings amount starts at S$125.

The plan also offers a yearly cash payout starting from the end of the second policy year, as long as the life insured is alive, and the policy is in force. The guaranteed yearly cash benefit is 3.9% of the face value, whilst the non-guaranteed yearly cash benefit is 2.5% of the face value based on the illustrated investment rate of return of 4.25%.

It also comes with a death benefit equal to 101% of the total premiums paid (excluding advance premium), any performance bonuses, and the yearly cash benefit and non-guaranteed yearly cash benefit accumulated with us (if any), less any amounts owed to Etiqa.

Application can be done online and does not require any medical examinations. 

Etiqa Insurance Singapore CEO Raymond Ong said that Tiq CashSaver aims to help families and adults to begin their savings journeys at a modest starting point.

“With today’s financial pressures faced by Singaporeans, the Tiq CashSaver epitomises our unwavering dedication to delivering accessible solutions. The plan features a seamless online application process, requires no medical examinations, and offers affordable premiums,” Ong said in a press release announcing the launch of Tiq CashSaver.

The Tiq CashSaver is just the latest to the plethora of new services that Etiqa has rolled out in Singapore. Earlier in 2024, Etiqa Singapore introduced the Essential Critical Secure, a comprehensive Critical Illness (CI) plan providing coverage for 111 CI and mental health conditions.