Singlife 3% endowment plan

[smart_alex]

Anyone gt sign up?

for the first $6000 only

 

[kingboonz]

Blah blah fees involved, fixed d better, MBH better etc etc

 

[xtwis7]

What fees actually? You’re talking about distribution cost?

$6000 is not very high though so it’s hardly a dent for many people.

Blah blah fees involved, fixed d better, MBH better etc etc

 

[BBCWatcher]

It's a good offer if you're looking for a safe (SDIC assured) place to park $6,000 for 3 years. Although you should bear in mind that this deal will include the inevitable insurance product marketing, to try to upsell you. It's a way for Singlife to build a mailing and calling list, and good for them.

 

[maple96]

3% guaranteed, where got fees if u hold till maturity for 3 years, but max 6k only, apply online when it starts, first come first serve

 

[JuniorLion]

Should be starting?

 

[blurpandasg2014]

Thanks for the sic. Start Monday based on t&c

 

[Nofear40]

Thanks for the sic. Start Monday based on t&c

Any link to share?

 

[Smokey.B]

u all even heard of this company before?

 

[blurpandasg2014]

Any link to share?

https://singlife.com/endowment/

The guaranteed maturity yield is 2.20% p.a. and 2.50% p.a. for 3-year-term and 5-year-term respectively. The 5-year-term is only available through our financial adviser partners. During the period between 26 Nov and 30 November 2018, there is a special campaign that gives 3% p.a. guaranteed maturity yield for the 3-year-term and this offer is strictly applicable for one policy per customer for up to S$6,000 single premium.

 

[xtwis7]

They took over Zurich’s life insurance business

u all even heard of this company before?

 

[blurpandasg2014]

u all even heard of this company before?

It has been in the market for some time le. I first came across it when I was running a search on compare first

 

[jujuhippo]

cool, registered my email for notification thanks for sharing!

 

[smart_alex]

Is it reliable or nt?

New insurance company

Btw is the 3% compound?

Sent from Nanyang Technological University using GAGT

 

[JuniorLion]

Is it reliable or nt?

New insurance company

Btw is the 3% compound?

Sent from Nanyang Technological University using GAGT

This type of FD-esque plan is simple interest. When they state 3%, it is 3% per annum. Meaning if you put in $6000, you're going to get $180 in interest per year; at the end of 3 years, you'll get back $6540.

 

[xtwis7]

There may be 2 options. 1 is usually simpl interest. The other may be the accumulated option.

This type of FD-esque plan is simple interest. When they state 3%, it is 3% per annum. Meaning if you put in $6000, you're going to get $180 in interest per year; at the end of 3 years, you'll get back $6540.

 

[JuniorLion]

There may be 2 options. 1 is usually simpl interest. The other may be the accumulated option.

Possibly so.

 

[mSnooze]

This type of FD-esque plan is simple interest. When they state 3%, it is 3% per annum. Meaning if you put in $6000, you're going to get $180 in interest per year; at the end of 3 years, you'll get back $6540.

Sorry but you are wrong. This type of plan from insurance companies are normally compounded. You can check the Product summary available on the website itself regarding this plan.

 

[JuniorLion]

Sorry but you are wrong. This type of plan from insurance companies are normally compounded. You can check the Product summary available on the website itself regarding this plan.

No need to say sorry, though. Have checked and you're right, it's 9.27% at the end of 3 years. Guess you're getting $16.36 cents more then, under the assumption you're putting in $6000.

 

[limster]

my worry about this type of e-mail campaign is that it is susceptible to a phishing attack because no details are provided by SgLife so far on what is the 'official way' to apply once the tranche is open.

imagine if a phisher sends you an e-mail pretending to be SingaporeLife and telling you 'the tranche is open' and asking you to transfer $6k to XXX-XXX-XXX bank account by today to get the 3% rate. how do you know real or not?