Etiqa’s ELASTIQ and SAVE3?

[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-...ow/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...erral-program/

5) PolicyPal website for Insurance Savings
https://www.policypal.com/endowment-insurance/plan

6) Tiq Savings website (with 4 insurance savings products)
https://www.tiq.com.sg/

My offer stands.

I am giving $10 cash from my PolicyPal referral award to ALL my Referees.

Happy Monday !!

My $10 offer stands

 

[oceanicmanta]

Checked with the Tiqconnect team, there is some data issue online and they are fixing the issue.

Checked website earlier & account value increased at 1.78%+ - no change

Now checked app, & crediting rate shows 1.8%

perhaps it was a momentary Monday-lapse

 

[maumu]

anyone put more than $50k inside? am considering what to do for August after clearing out of BOC with their changes wef 1 Aug, and tot this 1.8% elastiq is quite flexible (already have $50k inside).

what's the risk of putting more than $50k? we're protected up to $100k or $75k for this huh?

 

[oceanicmanta]

anyone put more than $50k inside? am considering what to do for August after clearing out of BOC with their changes wef 1 Aug, and tot this 1.8% elastiq is quite flexible (already have $50k inside).

what's the risk of putting more than $50k? we're protected up to $100k or $75k for this huh?

100k per insured

 

[Shine.gdj]

yes ... but coverage is based on Guaranteed Surrender Value at point of failure (not maturity) and not based on total premiums paid ..

Kindly explain above. So, if I have placed 100k over a few years, the total sum of 100k plus interests accumulated is not covered? What is the surrender value?

Thanks!

 

[oceanicmanta]

Kindly explain above. So, if I have placed 100k over a few years, the total sum of 100k plus interests accumulated is not covered? What is the surrender value?

Thanks!

for Elastiq, Surrender Value is the Account Value (as written in policy doc) and is always equal to Account Value (not the case for eEasySaveV)

Account Value increases on a daily basis by around 1.78x% ie the interest

if AV is more than 100k, then it is above the SDIC PPF limit & there could be a risk of losing the accumulated interest

think actual outcome depends on the MAS recovery option

 

[luvpraline]

If i put in an initial premium of 30k, then did ad hoc top up of 10k, then later withdraw 10k, anyone knows if the 10k will be deducted from the "ad hoc top up" balance or "initial premium" balance?

although crediting rate has remained consistently at 1.8% so far, but this matters should the rate be revised in future.. as the crediting rate is guaranteed for the initial premium

 

[eekee]

For Elastiq product (1.8% Guarantee return for 3 years with no penalty for withdrawal after 90 days) max benefits, here are some steps to max your rebates.

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

3) For max gains (more rebates) Pm me

sent you a PM.

 

[JialatThisOne]

sent you a PM.

Shared with you the max rebates, cheers

 

[maumu]

If i put in an initial premium of 30k, then did ad hoc top up of 10k, then later withdraw 10k, anyone knows if the 10k will be deducted from the "ad hoc top up" balance or "initial premium" balance?

although crediting rate has remained consistently at 1.8% so far, but this matters should the rate be revised in future.. as the crediting rate is guaranteed for the initial premium

I would see it simply as the amount deducted from the total balance. So if you top up and subsequently withdraw the same amount, your balance is still the same as the initial premium amount so the interest should still be 1.8%...

 

[luvpraline]

I would see it simply as the amount deducted from the total balance. So if you top up and subsequently withdraw the same amount, your balance is still the same as the initial premium amount so the interest should still be 1.8%...

Hopefully it works like that under Total Account Value in the app, it is separated into the initial premium and top up values..even the interests earned is grouped separately.. maybe it's just for record purposes

 

[oceanicmanta]

Hopefully it works like that under Total Account Value in the app, it is separated into the initial premium and top up values..even the interests earned is grouped separately.. maybe it's just for record purposes

good point ...

after 90 days, can try top up $500 (or the bare minimum), then withdraw the next week to see

 

[JialatThisOne]

For Elastiq product (1.8% Guarantee return for 3 years with no penalty for withdrawal after 90 days) max benefits, here are some steps to max your rebates.

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

3) For max gains (more rebates) Pm me

 

[MarkerG]

For Elastiq product (1.8% Guarantee return for 3 years with no penalty for withdrawal after 90 days) max benefits, here are some steps to max your rebates.

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

3) For max gains (more rebates) Pm me

Can't believe that after sending money to PolicyPal to buy Etiqa product, and enquire through email, to find out that it will take 3 working days to verify that the money is with them and a week to know that I have managed to purchase the product. Apparently iirc, Etiqa also have the right to delay withdraw for 6 months if they want to ie if you withdraw money 90 days later, you might received them 180 days after that 90 days.

Regretted signing up for the product and currently still waiting for PolicyPal to verify if they have received my money.

Should have placed my money somewhere else for peace of mind.

 

[oceanicmanta]

Can't believe that after sending money to PolicyPal to buy Etiqa product, and enquire through email, to find out that it will take 3 working days to verify that the money is with them and a week to know that I have managed to purchase the product. Apparently iirc, Etiqa also have the right to delay withdraw for 6 months if they want to ie if you withdraw money 90 days later, you might received them 180 days after that 90 days.

Regretted signing up for the product and currently still waiting for PolicyPal to verify if they have received my money.

Should have placed my money somewhere else for peace of mind.

oh, strange ... all my policies via PolicyPal were incepted on the same day

 

[MarkerG]

oh, strange ... all my policies via PolicyPal were incepted on the same day

Frustrated because the deadline for encashable reward is when policy purchased by 31Jul, which is 3 days later. Worst is their email reply is not answering my question. Their reply emails keep asking for feedback and I just gave them 1 out of 5.

Finance product I purchase with another company 2 weeks ago took only one day to process. And transfer money in and out is immediate through an app , like normal online banking. Just too bad this company offers good rate for a pretty low cap, that is why I need to source for any finance company to park my money.

Etiqa withdrawal still have to go through them for approval (don't understand why must get approval since this is my money, really reminds me of CPF), cap at 6 month's delay. If money is needed urgently, I will be at people's mercy. No way for me, will apply for withdrawal once 90 days lock-in period is up. I really learned this through the hard way.

 

[luvpraline]

anyone put more than $50k inside? am considering what to do for August after clearing out of BOC with their changes wef 1 Aug, and tot this 1.8% elastiq is quite flexible (already have $50k inside).

what's the risk of putting more than $50k? we're protected up to $100k or $75k for this huh?

Can consider putting partially in Dash Easy Earn since it's 2% guaranteed for first year. Also unwritten by etiqa and max 20k

 

[Utonian]

Frustrated because the deadline for encashable reward is when policy purchased by 31Jul, which is 3 days later. Worst is their email reply is not answering my question. Their reply emails keep asking for feedback and I just gave them 1 out of 5.

Finance product I purchase with another company 2 weeks ago took only one day to process. And transfer money in and out is immediate through an app , like normal online banking. Just too bad this company offers good rate for a pretty low cap, that is why I need to source for any finance company to park my money.

Etiqa withdrawal still have to go through them for approval (don't understand why must get approval since this is my money, really reminds me of CPF), cap at 6 month's delay. If money is needed urgently, I will be at people's mercy. No way for me, will apply for withdrawal once 90 days lock-in period is up. I really learned this through the hard way.

with all things i prefer to go direct if can especially if for large sum of money. mine was opened and funded same day.

for the up to 6mth delay clause, not much of a concern as i believe its there for special situations like bank runs etc where every company should also be impacted.
If they anyhow invoke such clause for no reason, they will probably never regain consumers' trust again

 

[maumu]

Can consider putting partially in Dash Easy Earn since it's 2% guaranteed for first year. Also unwritten by etiqa and max 20k

yeah have already queue Dash Easy Earn for August but since max 20k, still got spare... so thinking of topping up Elastiq 1.8%...

wonder those who topped up (beyond 50k) before can share if their interest for top-up amount is indeed also 1.8% so far? the online CSO told me "yes" but I rather get more actual feedback from the ground

 

[luvpraline]

yeah have already queue Dash Easy Earn for August but since max 20k, still got spare... so thinking of topping up Elastiq 1.8%...

wonder those who topped up (beyond 50k) before can share if their interest for top-up amount is indeed also 1.8% so far? the online CSO told me "yes" but I rather get more actual feedback from the ground

mine is within limit, so planning to put in Dash. I did a top up to Elastiq before, so far still 1.8%