Etiqa’s ELASTIQ and SAVE3?

[kennyleo]

Hi there,

Sorry if this question has been answered before. Is this product really that straightforward? Is there no need to hold for 3 years to get the 1.8% pa? So, say i were to start with 20K, I may start to withdraw the funds, leaving aside a minimum account of 5K, after 90 days? Also, if I were to cancel the policy, i can only do so after 3 years? Thanks in advance.

 

[oceanicmanta]

Hi there,

Sorry if this question has been answered before. Is this product really that straightforward? Is there no need to hold for 3 years to get the 1.8% pa? So, say i were to start with 20K, I may start to withdraw the funds, leaving aside a minimum account of 5K, after 90 days? Also, if I were to cancel the policy, i can only do so after 3 years? Thanks in advance.

can cancel after 90 days without penalty

 

[Utonian]

Hi there,

Sorry if this question has been answered before. Is this product really that straightforward? Is there no need to hold for 3 years to get the 1.8% pa? So, say i were to start with 20K, I may start to withdraw the funds, leaving aside a minimum account of 5K, after 90 days? Also, if I were to cancel the policy, i can only do so after 3 years? Thanks in advance.

correct, straightforward.

After 90 days you can withdraw and leave 5k (to avoid fall below fee). Take note that top ups are at prevailing rates (currently still stable at 1.8%)

you can surrender the policy anytime after 90 days. have pm'ed you

 

[AnTiLooP]

What is the max policy value for tiq?

 

[oceanicmanta]

What is the max policy value for tiq?

Elastiq 1.8% is capped at 50k

other Tiq/Etiqa products no limit, I think

 

[Utonian]

What is the max policy value for tiq?

initial lump sum for Tiq is 50k for the guaranteed rate of 1.8% for 3yrs.
Immediately after opening the account, you can top up already at prevailing rate (currently still at 1.8%) up to a max of 200k total

 

[taotato]

initial lump sum for Tiq is 50k for the guaranteed rate of 1.8% for 3yrs.
Immediately after opening the account, you can top up already at prevailing rate (currently still at 1.8%) up to a max of 200k total

which particular product are you referring to ? Got any link ?

 

[Utonian]

which particular product are you referring to ? Got any link ?

this is Elastiq, pm'ed you

 

[a4973]

Hello, hope someone can advise me for the following situation. I have 100k, only need to use min 30k, max 50k on end January 2021 thereafter end January 2022. Is this product suitable for me? Thanks for your help.

 

[Utonian]

Hello, hope someone can advise me for the following situation. I have 100k, only need to use min 30k, max 50k on end January 2021 thereafter end January 2022. Is this product suitable for me? Thanks for your help.

you can open the account with 50k to maximise the guaranteed rate of 1.8% for 3yrs then top up the remaining 50k.
there is no issue with withdrawing in Jan 2021 or 2022.

good thing is this product has better rates in the current time as compared to other products but whether suitable for you still depends on what other options you have

 

[oceanicmanta]

I will give my $10 referral cash in full to any one using mine

how's that for a good deal ?

No duff.

 

[a4973]

you can open the account with 50k to maximise the guaranteed rate of 1.8% for 3yrs then top up the remaining 50k.
there is no issue with withdrawing in Jan 2021 or 2022.

good thing is this product has better rates in the current time as compared to other products but whether suitable for you still depends on what other options you have

My other option is RHB HYSA+. For 100k the blended interest rate is 1.325% or something similar.

 

[Wingst]

personally would not go too high above SDIC PPF coverage

shld be able to have more than 1 I think

I know this is something very personal, would still like to ask what is the general sentiment of going above SDIC's limit under etiqa itself? Since SDIC limit is by per insurer, I am facing a dilemma too.

 

[a4973]

Using Referral code, Etiqa offers 0.5% premium rebate that can be used to offset future General Insurance purchase (eg travel, motor, maid) ... so if u have use for this, then Etiqa may make sense ... the 0.5% rebate is not encashable (vs PolicyPal gives $30 cash to Referee)

For Referrer, it is better if Referee buys direct from Etiqa bcos it is $50 cash (vs $10 cash from PP for Referrer)

if u have no use for non-cash Tiq$, then PP is better.

I will give my $10 referral cash in full to any one using mine

how's that for a good deal ?

No duff.

Good day oceanicmanta, i am delighted & ready to take up your deal.
as i am using a very slow PC, it is agonizing to reread this thread from page 1 + opening all the attached links , pdfs etc so if you dont mind , i would like to tap your expertise with the Tiq 3 year endowment plan product by inputting your comments for my specific situation listed below :

1. have a sum of 100k to deposit
2. will need to draw min 30k max 50k on end january 2021
3. the rest on end january 2022
4. i already have a Policypal account as i have previously bought travel insurance. so i guess i lose out on a sign up bonus?
5. would prefer all sign up / referral / vouchers to be encashable
6. please PM me your reply.

many thanks

 

[oceanicmanta]

Good day oceanicmanta, i am delighted & ready to take up your deal.
as i am using a very slow PC, it is agonizing to reread this thread from page 1 + opening all the attached links , pdfs etc so if you dont mind , i would like to tap your expertise with the Tiq 3 year endowment plan product by inputting your comments for my specific situation listed below :

1. have a sum of 100k to deposit
2. will need to draw min 30k max 50k on end january 2021
3. the rest on end january 2022
4. i already have a Policypal account as i have previously bought travel insurance. so i guess i lose out on a sign up bonus?
5. would prefer all sign up / referral / vouchers to be encashable
6. please PM me your reply.

many thanks

I agree with Utonian that Elastiq could work for you.

RHB v Elastiq - u have to decide

I dont have RHB. So far, pretty happy with Elastiq online application, Etiqa's online access, App and WhatsApp chat.

I think your Referrer could still get $10 from PolicyPal for buying a new product ? - you can help test this out, no loss. I m waiting PP's reply on this.

PolicyPal's Referee awards in P$ are not encashable, but the other 30+100 is.

 

[a4973]

What is the max policy value for tiq?

Elastiq 1.8% is capped at 50k

other Tiq/Etiqa products no limit, I think

is this referring to "Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC)." ?
if yes, is it hard capped at 50K? or if there is a top up to 100k , it will cover 100k as well?
so sorry, noob here with a slow PC to boot.

 

[oceanicmanta]

is this referring to "Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC)." ?
if yes, is it hard capped at 50K? or if there is a top up to 100k , it will cover 100k as well?
so sorry, noob here with a slow PC to boot.

50k is the initial max cap when applying Elastiq. Utonian indicated, this can be topped up to 200k subsequently.

Yes. SDIC PPF protection for this product is 100k.

 

[a4973]

50k is the initial max cap when applying Elastiq. Utonian indicated, this can be topped up to 200k subsequently.

Yes. SDIC PPF protection for this product is 100k.

thank you kind sir!!

 

[Spoonies]

Can I ask if I can get back all the $300k which are under my name in the event of a failure of insurer:-

elastiq - $100K
Tiq 3 years endowment - $100K
eEASY save V - &$100K

 

[James Lee WY]

use my referral code instead leh, i really want a nintendo switch http://refer.policypal.com/c/OYY13