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Senin, 26 November 2018 09:02:00

Etiqa Launches ELASTIQ - New Universal Life Insurance with First-In-Market Features and High Guaranteed Crediting Rate of 2.02% p.a.

SINGAPORE, RIAUONE.COM - 26 November 2018 - Etiqa Insurance announced the launch of ELASTIQ, a first-of-its-kind online universal life (UL) insurance plan in Singapore, which promises flexibility and security for financial-savvy individuals.

In addition to life coverage, ELASTIQ  by Etiqa offers a high guaranteed crediting rate of 2.02% p.a. in the first 3 years, and a short 90-day lock-in period, after which customers enjoy the flexibility to top-up or withdraw their funds without any penalty charges or interest clawback.
 
Amid positive forecast of UL growth in Asia, ELASTIQ seeks to fill the gaps of an effective UL plan designed to cater to the public, especially millennials, which makes up for one fifth of the population in Singapore. With a low minimum premium size of an affordable S$5,000, as compared to typical UL policies where the minimum single premium usually starts at US$100,000, the plan is kept accessible and works like a whole life insurance savings plan.
 
"Universal Life products are known to be an effective lower-risk wealth management tool with an element of protection, but it is often targeted at the affluent. With a lower minimum single premium and high guaranteed crediting interest rates, we hope that more people from the emerging affluent and mass affluent segments can benefit from ELASTIQ," said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Singapore.
 
ELASTIQ offers the best of both worlds by marrying consumers' need for security with the freedom to top-up or withdraw funds, as financial objectives and circumstances change over time. Customers can easily manage their finances online such as performing ad-hoc and recurring top-ups, up to a maximum of S$200,000 in total premiums paid, or make partial withdrawals after a lock-in period of 90 days without penalty charges. This flexibility and minimal lock-in period is a first-of-its-kind feature for universal life plans in the market. It also offers a projected non-guaranteed loyalty bonus of 0.3% of the policy's average monthly account value for the past 36 policy months in every 3 years interval if no partial withdrawal(s) has been made before.
 
ELASTIQ by Etiqa can be purchased online with ease at www.tiq.com.sg via immediate DBS/POSB Direct Debit Authorisation (DDA) service. Availability is limited. For more information, please visit http://po.st/ELASTIQSG.
 
Etiqa Insurance -- A Singapore Insurance Company with Asian and International Expertise
Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS). In July 2017, Fitch affirmed the company's "A-" rating for its financial strength and stable outlook.  
 
Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since 2009. In August 2014, we added a comprehensive suite of life insurance solutions to our stable of products.
 
Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, one of Asia's leading banking groups with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years, with a focus to provide world class insurance solutions to consumers in Europe and Asia through market leading joint ventures.
 
At Etiqa, we believe in our brand promise of humanising insurance, by placing people over policies in everything we do. We are passionate about helping Singaporeans protect themselves and their loved ones today and helping them plan for a financially secure tomorrow. (roc/red/*). #For further media information, please email us at riauonemedia@gmail.com.