Etiqa’s ELASTIQ and SAVE3?

[oceanicmanta]

Elastiq is a universal life plan

from my last enquiry, SDIC replied :

"Universal life policies are classified as individual life policies and the Policy Owners' Protection (PPF) Scheme protection limit of S$500,000 for the aggregated guaranteed sum assured and S$100,000 based on aggregated guaranteed surrender value per life assured per insurer would apply. Please note that the coverage is not based on the total premiums paid."

so it's 100k per insured

these r all Universal Life plans going by different names, so aggregate cover is just 100k per assured per insurer

I wished it was per policy.

It seems to me that EasyEarn, ELASTIQ and eSAVE Afvance are all the same from Etiqa. Are we putting too much weight on 1 company if we use all of them. Does SDIC cover all of the aggregated amount ?

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

pls see previous posts on same question.

unfortunately, it seems SDIC PPF is still capped at 100k per insured per insurer (not per policy)

if unsure, pls check with SDIC directly.

 

[James Lee WY]

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

oh i heard from somewhere before, they say etiqa will transfer the insurance to another insurer if possible

 

[toaddd]

So if I put in 50k for e easy save v. It is capital guarantee for the whole 6 years?

 

[Wingst]

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

No.. only 100k. That's why I'm in dilemma too

 

[jnashville]

So if I put in 50k for e easy save v. It is capital guarantee for the whole 6 years?

it is capital guaranteed for 6 years with guaranteed interest.

however. from what i read here, if Etiqa closes down or become bankrupt, the SDIC will only insure the surrender value of the account at the point of time. so example if it closes down at year 1, i think the surrender value is only 11k.. but if it closes down at year 5, i think the surrender value is more than your capital already.

but if Etiqa doesnt fail, and yea u keep your account till the end of 6 years, u will receive your capital plus the interest mentioned. which is 2.68 - away the 1.2percent of the first year premium...effectively getting around 2.6 yield per annum for 6 years plus minus. if u add the freebies given, along with the discount of putting a lump sum premium, i think the effective yield is about 2.65.

 

[Governor]

1) Sign up for PolicyPal using code SIGNUP:

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2) Buy Elastiq (1.8% guaranteed fixed interest rate) from Policypal

For $5k-$9k deposit, you get $10 from Policypal (encashable) = $10 CASH

For $10k-$25k deposit, you get $20 from Policypal + $50 from Etiqa (both encashable) = $70 CASH

For $26k-$50k deposit, you get $30 from Policypal + $100 from Etiqa (both encashable) = $130 CASH

Policypal referral quote

HUAT88
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Get free extra ps dollars with referral quote when you buy from policypal.

https://www.tiq.com.sg/product/unive...rance-elastiq/

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Up for all the good people here

 

[oceanicmanta]

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

how's that for a good deal ?

No duff.

my offer still stands for the above via PolicyPal

 

[Governor]

PolicyPal referral quote

HUAT88

 

[Governor]

Becareful of people wanting to give you their share of referral rewards

They might be fishing for data like HP number Address bank account number. He or she might also be against the law on pdpa.

My PolicyPal referral quote just key in HUAT88 and no data is shared, safe and sound no lose end.

 

[JialatThisOne]

1) Sign up for PolicyPal using code SIGNUP:

http://refer.policypal.com/c/SIGNUP

(to get $30 Pm me)

2) Buy Elastiq (1.8% guaranteed fixed interest rate) from Policypal

For $5k-$9k deposit, you get $10 from Policypal (encashable) = $10 CASH

For $10k-$25k deposit, you get $20 from Policypal + $50 from Etiqa (both encashable) = $70 CASH

For $26k-$50k deposit, you get $30 from Policypal + $100 from Etiqa (both encashable) = $130 CASH
1.8 percent Guarantee return for 3 years with no penalty for withdrawal after 90 days

3) For max gains (more rebates) Pm me

 

[oceanicmanta]

For easy reference, here are all the relevant promos & referral awards for PolicyPal and Etiqa

1) PolicyPal Referral

https://www.policypal.com/referral

2) PolicyPal Elastiq cash rebate for Elastiq

https://www.policypal.com/endowment-insurance/flow/tiq/elastiq

note: there are other offers for other Etiqa products

3) Etiqa Smart Save promo for Elastiq & other products

https://www.tiq.com.sg/promotion/save-smart-promotion/

note: Etiqa may from time to time offer additional perks

4) Elastiq Referral Program

https://www.tiq.com.sg/promotion/for-elastiq-referral-program/

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

how's that for a good deal ?

No duff.

My offer still stands ... keep the PMs coming, will respond soonest

Dont reward those who r hawking personal codes, zero value add, spamming the thread, spread fear, use click bait and dont abide by forum rules ...

Dont have to use mine.

Can ask referral from yiron, Beautyseek, Squaredot, Utonian, Taotato, F1ngolf2012, jnashville etc to name a few.. they r legit

Cheers

 

[Spoonies]

No.. only 100k. That's why I'm in dilemma too

This is the reply I receive:-

Thanks for reaching out to PolicyPal. Should anything happen to Etiqa, the preferred course of action is to transfer the insurance business of the failed insurer to another insurer as there is less disruption for policy owners. However, if an alternative insurer cannot be found or if costs are too excessive to facilitate a transfer of insurer, MAS may choose to terminate if the impact of the policy is not significant. On the other hand, if it is significant, SDIC will take over the business of Etiqa. Policy owners will then continue to be covered until such time their policy matures or expires. A combination of options may be adopted for the entire business of Etiqa. If you choose to surrender, you will only receive the surrender value which may be lesser than the premium paid. There is a cap of S$100,000 for guaranteed sum assured and S$50,000 for guaranteed surrender value per policy.

If you have any further queries regarding this, you may contact etiqa at +65 6887 8777

I hope this clarifies smile

 

[a4973]

This is the reply I receive:-

Thanks for reaching out to PolicyPal. Should anything happen to Etiqa, the preferred course of action is to transfer the insurance business of the failed insurer to another insurer as there is less disruption for policy owners. However, if an alternative insurer cannot be found or if costs are too excessive to facilitate a transfer of insurer, MAS may choose to terminate if the impact of the policy is not significant. On the other hand, if it is significant, SDIC will take over the business of Etiqa. Policy owners will then continue to be covered until such time their policy matures or expires. A combination of options may be adopted for the entire business of Etiqa. If you choose to surrender, you will only receive the surrender value which may be lesser than the premium paid. There is a cap of S$100,000 for guaranteed sum assured and S$50,000 for guaranteed surrender value per policy.

If you have any further queries regarding this, you may contact etiqa at +65 6887 8777

I hope this clarifies smile

for this statement [There is a cap of S$100,000 for guaranteed sum assured and S$50,000 for guaranteed surrender value per policy.]

1. it seems to mean that the coverage is for "Per Policy" not "Per Policy Holder" ?

for the more experienced, able to please give examples how this would be in real life practical scenario using Tiq policy ? what scenario get 50k what scenario get 100k?

thanks

 

[oceanicmanta]

for this statement [There is a cap of S$100,000 for guaranteed sum assured and S$50,000 for guaranteed surrender value per policy.]

1. it seems to mean that the coverage is for "Per Policy" not "Per Policy Holder" ?

for the more experienced, able to please give examples how this would be in real life practical scenario using Tiq policy ? what scenario get 50k what scenario get 100k?

thanks

It seems PP has quoted a different/incorrect insurance type & cap under SDIC PPF in the reply

@Spoonies for such queries, better to clarify with SDIC, instead of PolicyPal (with due respect, a insurance broker).

 

[jjjccc]

Hi all

May I check if you put 50k initially in the elastiq. It is 1.8% guaranteed for the 50k. Let's say 3 months later, you top up another 50k, total 100k. There is bonus of 0.3% interest if you fulfil 3 years without withdrawal. So does the 0.3% apply to the initial 50k only or the total 100k? TIA

 

[Big Daddy]

Pm me referral code please, planning to apply tiq easy save 5 through policypal.

Let me know how to maximize rebates/cashback. Thanks

 

[JialatThisOne]

Pm me referral code please, planning to apply tiq easy save 5 through policypal.

Let me know how to maximize rebates/cashback. Thanks

Just send you pm for max benefits cheers

 

[oceanicmanta]

Let me know how to maximize rebates/cashback. Thanks

ask Referrer to transfer his $10 cash reward to you

I am offering this to all my Referees this

 

[izzy85]

ask Referrer to transfer his $10 cash reward to you

I am offering this all my Referees this

Hi, can pm me your referral code? Thanks

Just to confirm, so max benefit if I deposit 26k is $100 from etiqa, $30 from policypal & $10 from you? All these are in cash right?

And I cant withdraw within a year or they take back the rewards?

 

[oceanicmanta]

Hi, can pm me your referral code? Thanks

Just to confirm, so max benefit if I deposit 26k is $100 from etiqa, $30 from policypal & $10 from you? All these are in cash right?

And I cant withdraw within a year or they take back the rewards?

yes, 100 + 30 + 10 in cash

can withdraw after 90 days but

CANNOT surrender policy within 1 year else claw back.

Thanks for supporting !