Etiqa’s ELASTIQ and SAVE3?

[yiron]

i tried asking etiqa's CSO about this before.. they could not understand the question...

Interesting, in the FAQ for Enrich Advance, there was an illustration under item 14 that demonstrated withdrawals first deduct from top-ups before hitting the initial single premium.
Not sure whether it works the same way for Elastiq, but I think good chance the same mechanism applies (again, best get official confirmation).

https://www.etiqa.com.sg/wp-content/uploads/2021/02/Enrich-advance-FAQs-18Jan2021.pdf
Account value before withdrawal: = S$ 50,000 + S$ 1,000 + [S$ 430.40 + S$ 850] (interest for SP) + S$ 7.47 (interest for Top-up) = S$ 52,287.87
Account value after withdrawal = S$ 52,287.87– S$ 1500 (withdrawal) – S$7.47 – S$ 12.80 (withdrawal – total Top-up)/SP*(interest for SP) = S$ 50,767.6

 

[luvpraline]

Interesting, in the FAQ for Enrich Advance, there was an illustration under item 14 that demonstrated withdrawals first deduct from top-ups before hitting the initial single premium.
Not sure whether it works the same way for Elastiq, but I think good chance the same mechanism applies (again, best get official confirmation).

https://www.etiqa.com.sg/wp-content/uploads/2021/02/Enrich-advance-FAQs-18Jan2021.pdf
Account value before withdrawal: = S$ 50,000 + S$ 1,000 + [S$ 430.40 + S$ 850] (interest for SP) + S$ 7.47 (interest for Top-up) = S$ 52,287.87
Account value after withdrawal = S$ 52,287.87– S$ 1500 (withdrawal) – S$7.47 – S$ 12.80 (withdrawal – total Top-up)/SP*(interest for SP) = S$ 50,767.6

Thanks for pointing this out! Hopefully it is the same for Elastiq. I gave up trying to explain this question to their cso....

I've only done a top up once before and no withdrawals yet, so hoping someone who has done so can verify that the withdrawal amount is deducted from the top up value first?

 

[ekardo]

the TIQ website really CMI..

I sign up in Sep 2020, was 2% for first 10k, and 1% for 10k to 100k..

back then i remember the interest rate was guarantee for only 1st year. is this still valid or interest rate already dropped? thinking if I wanna switch fund from singlife to top up here.

 

[Sambuca78]

Anyone else have issue topping up the Elastiq?

I tried since Saturday will now, keep telling me to wait 30 min later.

 

[joewings34]

Has anyone here did a withdrawal from elastiq? Would like to know will it deduct from top up amount first (1.2% interest) or initial premium (1.8%). And how long is the process of withdrawal?

 

[kokjj87]

Has anyone here did a withdrawal from elastiq? Would like to know will it deduct from top up amount first (1.2% interest) or initial premium (1.8%). And how long is the process of withdrawal?

I believe it should be from the top up amount.

 

[fantastyy]

Anyone got information about the tiq endowment? i saw the ads around but dont know if worth

 

[oceanicmanta]

Anyone got information about the tiq endowment? i saw the ads around but dont know if worth

if u can commit to 3 years, then the 1.62%pa is guaranteed

plus $10/$80 reward for 10k & 55k placement ... only sign up via PolicyPal ... making it about 1.67%pa

worth or not depends on what other options u have or considering

 

[fantastyy]

ahh i see, haven't kept up with policypal for quite a while. but the extra rebate looks good.

Could i get link so i can see if i should get.

 

[amazingneil]

Link: https://www.policypal.com/ppfa/endowment-plans/flow/tiq/tiq-3-year-endowment

 

[vegavega25]

Could someone please remind me: are there daily withdrawal limits for Elastiq?

I remember (or is my mind playing games) reading somewhere that the company had instituted this last year. But I went through past e-mails and the FAQs and couldn't not find it.

 

[Utonian]

Could someone please remind me: are there daily withdrawal limits for Elastiq?

I remember (or is my mind playing games) reading somewhere that the company had instituted this last year. But I went through past e-mails and the FAQs and couldn't not find it.

i think only got minimum 500 and in increment of 500

do note that once withdraw, the total u can have in the policy will be permanently reduced

 

[yiron]

Could someone please remind me: are there daily withdrawal limits for Elastiq?

I remember (or is my mind playing games) reading somewhere that the company had instituted this last year. But I went through past e-mails and the FAQs and couldn't not find it.

IIRC the withdrawal limit was for Gigantiq and not Elastiq.

 

[SamSze]

Anyone happens to know how to surrender the Elastiq? I couldn’t find this option in its app or website. I remember that several months ago, it’s very easy to do the surrender of Gigantiq by clicking a button only.

 

[Utonian]

in the General FAQ:

You may request for a full surrender any time after the free look period by writing in to our Customer Care at customer.service@etiqa.com.sg.

 

[SamSze]

in the General FAQ:

You may request for a full surrender any time after the free look period by writing in to our Customer Care at customer.service@etiqa.com.sg.

Noted. Thank you. So troublesome.

Don’t understand why it makes a difficult way for surrender of Elastiq, different from Gigantiq.

 

[888888888888]

purpose, not ethical company

 

[reddevil0728]

purpose, not ethical company

What you mean purpose and not ethical company?

 

[demoforce1]

email to customer.service@etiqa.com.sg. still better than go to their branch

 

[simsim1234]

Noted. Thank you. So troublesome.

Don’t understand why it makes a difficult way for surrender of Elastiq, different from Gigantiq.

I have elastiq, planning to shift money from there to FD in other banks (because higher interest now) then realise how difficult it is to transfer out all money, so many conditions like fall below fee if keep less than $5k, can only shift out $50k per day, to withdraw all money have to fill up forms and mail in to surrounder policy etc