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Endowment

Tiq CashSaver: Secure Your Future with Flexible Savings and Protection

In today's uncertain world, planning for the future is more crucial than ever. The Tiq CashSaver, offered by Etiqa Insurance, is a unique endowment plan designed to help you save comfortably while providing essential protection. This innovative product combines the benefits of a savings plan with life insurance coverage, offering a balanced approach to financial planning. With its flexible savings duration and guaranteed capital upon maturity, Tiq CashSaver stands out as a smart choice for those looking to secure their family's future while building a financial safety net.

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Understanding the Tiq CashSaver Endowment Plan

Tiq CashSaver is a participating regular premium endowment plan. This means that policyholders not only receive guaranteed benefits but also have the potential to earn additional non-guaranteed bonuses based on the performance of Etiqa's participating fund. The plan offers flexibility in premium payment terms, allowing you to choose between paying over 2 years (for 6 to 10-year policies) or 5 years (for 11 to 15-year policies). This structure enables you to tailor your savings journey to your financial capabilities and goals. As a participating plan, Tiq CashSaver provides the opportunity for higher returns compared to non-participating plans, albeit with some level of investment risk.

Tiq CashSaver Coverage Customization

Tiq CashSaver offers a range of features that allow you to customize your coverage and maximize your savings potential. From guaranteed maturity benefits to potential bonuses, this plan is designed to provide both security and growth opportunities for your savings. Let's explore the key aspects of Tiq CashSaver's coverage:

Capital Guarantee

Upon maturity, Tiq CashSaver guarantees 100% return of your capital. This feature provides a safety net, ensuring that your principal investment is protected regardless of market conditions.

Bonus Potential

In addition to guaranteed benefits, policyholders may receive non-guaranteed bonuses and dividends. These are based on the performance of Etiqa's participating fund and can enhance your overall returns.

Fund Performance

While historical performance is not explicitly stated, the plan uses illustrated investment rates of return of 3% p.a. and 4.25% p.a. for projections. Actual returns may vary based on the participating fund's performance.

Return Factors

Non-guaranteed returns are influenced by various factors, including the participating fund's investment performance, operating expenses, and claim experience. These factors can impact the bonus rates declared annually.

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Tiq CashSaver Riders and Additional Benefits

Tiq CashSaver goes beyond basic savings by offering a suite of additional benefits and riders to enhance your protection. These features are designed to provide comprehensive coverage and financial support in various life scenarios. Here's an overview of the key benefits included in the Tiq CashSaver plan:

Yearly Cash Benefit

Receive a guaranteed yearly cash benefit of 3.9% of the face value, starting from the end of the second policy year. An additional non-guaranteed benefit of 2.5% (at 4.25% p.a. illustrated rate) is also provided.

Death Coverage

In the event of death, beneficiaries receive 101% of total premiums paid, plus any performance bonuses and accumulated cash benefits. This ensures financial protection for your loved ones.

TPD Waiver

If you become totally and permanently disabled before age 86, all future premiums are waived. This valuable benefit ensures your policy remains in force even if you're unable to work.

Accidental Death Benefit

An additional 50% of total premiums paid is provided in case of accidental death, offering extra protection for your family in unforeseen circumstances.

Extended Grace Period

In case of retrenchment or extended hospitalization, you can request a 60-day extension to your policy's grace period. This feature can be exercised twice during the policy term.

Tiq CashSaver Surrender Value and Partial Withdrawals

Understanding the surrender value and withdrawal options of your Tiq CashSaver policy is crucial for managing your financial flexibility. While the plan is designed for long-term savings, life's uncertainties may require access to funds before maturity. Here's what you need to know about the surrender and withdrawal features of Tiq CashSaver:

Surrender Value

The surrender value is calculated based on the guaranteed and non-guaranteed components of your policy at the time of surrender. Early termination may result in receiving less than the total premiums paid.

Withdrawal Options

Tiq CashSaver allows you to withdraw or accumulate your yearly cash benefits. Accumulated benefits earn interest at the prevailing rate, which is subject to change with 30 days' notice.

Surrender Charges

While specific charges are not detailed in the provided information, it's important to note that early surrender typically involves high costs. Consult with a financial advisor for precise surrender value calculations and applicable fees.

Tiq CashSaver Claims and Customer Service

Etiqa Insurance, the provider of Tiq CashSaver, is committed to ensuring a smooth claims process and responsive customer service. For any claims or inquiries, policyholders can contact Etiqa's customer service team at +65 6887 8777 or via email at [email protected]. The company's office is located at One Raffles Quay, #22-01 North Tower, Singapore 048583. Etiqa emphasizes transparency and efficiency in their claims process, aiming to provide timely support to policyholders when they need it most. For detailed information on the claims procedure or specific policy-related questions, it's recommended to refer to your policy contract or reach out directly to Etiqa's customer service team.

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Conclusion: Is Tiq CashSaver Right for You?

Tiq CashSaver offers a compelling combination of savings and protection that could be particularly suitable for several types of individuals. Young families looking to secure their children's future while building a savings nest egg may find this plan attractive. Additionally, those seeking a low-risk savings vehicle with the potential for bonuses and a guaranteed capital return at maturity could benefit from Tiq CashSaver. Lastly, individuals who value flexibility in their financial planning, with options for yearly cash benefits and premium payment terms, might find this plan aligns well with their needs.
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