Posb savvy endowment good?

[martin]

https://www.posb.com.sg/personal/insurance/endowment/wealth-accumulation-plans/savvyendowment

 

[reddevil0728]

https://www.posb.com.sg/personal/insurance/endowment/wealth-accumulation-plans/savvyendowment

what are your objectives?

 

[martin]

what are your objectives?

Only typically look at FD, Tbills, SSBs, etc. So is there anything similar that is better now?

 

[reddevil0728]

Only typically look at FD, Tbills, SSBs, etc. So is there anything similar that is better now?

are you looking at locking for 3 years?

 

[martin]

are you looking at locking for 3 years?

Not particular at all. But rates are coming down, right? So good to lock in a bit longer. I just paced 12 mth FD with maybank at 3.55% so this 3 year endowment looks good to me tho.

 

[reddevil0728]

Not particular at all. But rates are coming down, right? So good to lock in a bit longer. I just paced 12 mth FD with maybank at 3.55% so this 3 year endowment looks good to me tho.

if you don't need the money for 3 years and don't have appetite for higher risk options can lor

 

[sohguanh]

Only typically look at FD, Tbills, SSBs, etc. So is there anything similar that is better now?

As of today this is best I see for 3 years. It also depend on your planning. Do you do ladder like say 3m 6m 9m 12m 18m 2yr and now this 3yr? Note endowment insurance early termination can result in capital loss.

 

[martin]

As of today this is best I see for 3 years. It also depend on your planning. Do you do ladder like say 3m 6m 9m 12m 18m 2yr and now this 3yr? Note endowment insurance early termination can result in capital loss.

Nope. Very random. Ya, this amount i can set aside for 3 years, no problem.

 

[sohguanh]

Nope. Very random. Ya, this amount i can set aside for 3 years, no problem.

Then can buy lor. Tiq today also same 3 years only 3% so lousy.

 

[martin]

Then can buy lor. Tiq today also same 3 years only 3% so lousy.

I see. Thanks. Will go ahead then. When they say guaranteed 3.65% return and principal guaranteed, it really means that, ya? No tricks?

 

[reddevil0728]

I see. Thanks. Will go ahead then. When they say guaranteed 3.65% return and principal guaranteed, it really means that, ya? No tricks?

So long you don’t surrender early and they don’t collapse

 

[martin]

Just noticed that there is typically this age limit of 60 for such endowment plans? Why?

 

[reddevil0728]

Just noticed that there is typically this age limit of 60 for such endowment plans? Why?

Cause got death benefit I believe.

it’s similar to like insurance plan having a limit for entry.

 

[CaptainWu]

I subscribed to the 11 series for 2 years and now this 12 is for 3 years but keep the same rate unchanged just look like the non-guarantee portion little bit higher than the previous one, still not bad then if this meets your horizon.

 

[algerr]

I see. Thanks. Will go ahead then. When they say guaranteed 3.65% return and principal guaranteed, it really means that, ya? No tricks?

Hi, Apologies.

Will be giving a different take on this.

For endowment, it requires locking in of funds for certain period.

Early withdrawal may possibly result in not getting back principal amount.

Imho, will be better for you to take a step back to review other sources first - FD, SSB
UOB One, DBS Multiplier

Cash liquidity is important if it's required for sudden events.

 

[sglandscape]

At those rates for 3y probably not unless you have no better alternatives.

 

[sohguanh]

Just noticed that there is typically this age limit of 60 for such endowment plans? Why?

Endowment got small protection in it. Basically is death so maybe insurer scared you too old buy and then before mature you mati liao they need pay out liao rugi ?

 

[sohguanh]

Hi, Apologies.

Will be giving a different take on this.

For endowment, it requires locking in of funds for certain period.

Early withdrawal may possibly result in not getting back principal amount.

Imho, will be better for you to take a step back to review other sources first - FD, SSB
UOB One, DBS Multiplier

Cash liquidity is important if it's required for sudden events.

I got all you have already mention except UOB One, DBS Multiplier those need to play game like salary credit I don't play. So it is not too bad to diversify a bit into endowment insurance too. 5K per placement is quite ok unless your fist is so tight until cannot spare 5K then noted.

 

[algerr]

I got all you have already mention except UOB One, DBS Multiplier those need to play game like salary credit I don't play. So it is not too bad to diversify a bit into endowment insurance too. 5K per placement is quite ok unless your fist is so tight until cannot spare 5K then noted.

One of concern is liquidity - able to take out to use for emergencies.

If TS is not concerned about that, then it's fine.

 

[sohguanh]

One of concern is liquidity - able to take out to use for emergencies.

If TS is not concerned about that, then it's fine.

If you scroll up the thread that is the very first question I ask TS and he say it is ok to lock 3 years. I also warn him of early termination may result in capital loss also. He say ok.