GIGANTIQ by Etiqa

[cassowary18]

https://www.tiq.com.sg/gigantiq/

Seems like a copycat of Dash EasyEarn (also run by Etiqa) and Singlife account. 2% interest for the first year on the first $10K, 1% interest on amounts above $10K and after first year. However, it looks like it's currently available on a limited basis (I logged on to my TiqConnect mobile app and it's not available to me yet).

 

[dexboi]

I think we are starting to see a shift of traditional fixed term endowments plans into a more trendy, app-based, flexible and accessible mass market selling. No longer is there a need to do detailed fact-find, assign insurance agent and fill long-winded KYC forms just to sign up a plan with an insurance company.

In a way, i feel that insurance companies are also trying to decouple the stigma associated with "poor returns" that endowment plans have. Plus the fact that they most likely have statistical trends on today's consumption behaviour of new age adults which may result in the shift we are seeing today.

That said, many insurance companies have perhaps already crossed the line and encroached into the banking services by offering flexible savings account + debit card?! + throw in a tinge of insurance to avoid the need to be regulated under the Banking Act. Insurance companies today are evolving, becoming smarter and starting to leverage on technology to take advantage of traditional banking depositors' monies idling in the low interest rate environment.

In any case, Grab is probably the first to start the race in successfully taking mass market monies (for multi purposes) from a non-bank perspective and got everyone excited. Change for the better are always welcomed as traditional banking (DBS, UOB, OCBC), non-banks financial intermediaries (Grab, Dash, Razor, Nets) and insurance companies are starting to heat up and compete with one another for the cash in our pockets!

 

[xtwis7]

I was slightly confused when I saw a non-par universal life used to describe this. Are they using the UL term too loosely in this case?

 

[cassowary18]

I was slightly confused when I saw a non-par universal life used to describe this. Are they using the UL term too loosely in this case?

Probably. The death and TPD benefits on these insurance savings plans are there to make the plan technically a "universal life insurance policy". At 105% these benefits are quite negligible, and most people wouldn't care much about it, but it's there for the plan to legally be classified as insurance, not a banking service.

 

[cassowary18]

I just checked today and it's open to Tiqconnect users - maybe launched on 1 September? Haha.

Might pump $10K in.

 

[shengliang1981]

I just checked today and it's open to Tiqconnect users - maybe launched on 1 September? Haha.

Might pump $10K in.

Just signed up today. Apparently, the premium can only be paid via DBS/POSB account.

 

[jnashville]

Just signed up today. Apparently, the premium can only be paid via DBS/POSB account.

the app like buggy. kept timeout when i link my posb account. finally set up.

 

[oceanicmanta]

just take note, Gigantiq, Elastiq, EasyEarn, eEasy Save etc all by Etiqa so SDIC PPF is still 100k per insured per insurer for such products

 

[shengliang1981]

the app like buggy. kept timeout when i link my posb account

I guess that is to be expected for new product launch.. Some of the steps did took quite long to load for me as well. Need to be very patient..

 

[jnashville]

I guess that is to be expected for new product launch.. Some of the steps did took quite long to load for me as well. Need to be very patient..

realised after linking to posb and entering the OTP, can only click submit once then must wait a few seconds.

I think i earlier on click submit, then realise that the page not responding so i click submit again..thats why timeout haha.

 

[jnashville]

just take note, Gigantiq, Elastiq, EasyEarn, eEasy Save etc all by Etiqa so SDIC PPF is still 100k per insured per insurer for such products

just realised now that eeasy save V got new promo..put in 103k got free 2D1N stay at amara sanctuary resort

 

[TitanSmall]

just realised now that eeasy save V got new promo..put in 103k got free 2D1N stay at amara sanctuary resort

bro can share the promo?

 

[maumu]

this one... 2% only for $10k and need to pay fee to withdraw and close. may as well place with Elastiq 1.8% which is for any amount?

 

[shengliang1981]

For those who have signed up, are you able to see the Gigantiq policy under "Track Policies" > "In Force" within the TiqConnect app? Somehow, Gigantiq doesn't appear for me and I can only see the Dash EasyEarn policy.

 

[Hwsemb]

For those who have signed up, are you able to see the Gigantiq policy under "Track Policies" > "In Force" within the TiqConnect app? Somehow, Gigantiq doesn't appear for me and I can only see the Dash EasyEarn policy.

From my previous experience with elastiq, it will be reflected 1 working day later. However, right now, you can still see Gigantiq as "Recent Purchase" in the app.


*******
UPDATE (2 Sep 2020, 9am):
App still did not show Gigantiq under "In Force" tab. But, total number of "Active Policies" is correctly updated. Also, Gigantiq details is showing up under "HOME" since yesterday.


*******
UPDATE (10 Sep 2020): Gigantiq reflected under "In Force" .

 

[shengliang1981]

From my previous experience with elastiq, it will be reflected 1 working day later. However, right now, you can still see Gigantiq as "Recent Purchase" in the app.

I see. Yup, I can see it under "Recent Purchase" and under "Home" as well. Will check again tomorrow.

 

[Ahboy069]

I still can’t sign up although I have etiqa anyone same?

 

[kumokumo]

Not another app. I already have too many bank apps on my phone:
DBS
OCBC
UOB
SCB
CIMB
Singlife

And on top of that
Paylah, grab, dash.....

this is getting out of hand.

 

[shengliang1981]

Not another app. I already have too many bank apps on my phone:
DBS
OCBC
UOB
SCB
CIMB
Singlife

And on top of that
Paylah, grab, dash.....

this is getting out of hand.

Nowadays smartphone is mainly used to manage finances only.

 

[kokjj87]

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