i-WealthSaver (Limited Pay) — A Participating Endowment Plan from China Taiping Insurance (Singapore)

Overview

i-WealthSaver is a limited premium payment, participating endowment plan from China Taiping Insurance (Singapore) Pte. Ltd. that combines savings accumulation with life protection. Policyholders choose a term of 10, 15, 20, or 25 years, with premiums payable over 5, 10, 15, or 20 years. The plan pays a lump sum maturity benefit comprising a guaranteed sum assured, accumulated reversionary bonus, and a non-guaranteed terminal bonus. It also provides death coverage during the policy term, with a notable feature allowing appointment of a secondary life insured to continue the policy upon the primary life insured's death. The plan is quoted by premium — buyers select their annual outlay (typically $2,500–$10,000) and the payout follows accordingly. Benefit illustrations are based on 3.00% and 4.25% p.a. investment return scenarios, with projected yields to maturity of 2.17%–3.10% p.a. The insurer holds an A rating from A.M. Best.

How it compares

Measured at a common basis (age 35, male, non-smoker, $10,000 annual premium, coverage term 16–20 years), i-WealthSaver offers a guaranteed surrender value at year 20 of $60,000. This compares to $56,670 for Income's Gro Saver Flex Pro and $157,529 for Great Eastern's GREAT Flexi Goal (Etiqa's Enrich goal shows no guaranteed surrender value at year 20 in the data).

However, the participating fund's performance history is weaker: net investment returns over 5 years were -0.03% (versus 1.58%–2.39% for peers), and the 10-year return is not available. The total expense ratio is notably higher at 5.12% over 5 years, compared to 0.94%–1.93% for competitors. This suggests that while the guaranteed surrender value is competitive, the non-guaranteed bonus potential may be constrained by higher costs and weaker recent fund performance.

Pros

• Strong guaranteed surrender value: $60,000 at year 20 on a $10,000 annual premium — higher than two of three comparable plans
• Flexible terms: Multiple premium payment and policy term options (5–20 years premium, 10–25 years coverage)
• Secondary life insured option: Unique feature allowing policy continuity upon death of primary life insured
• No underwriting required: Simplified application process
• Reversionary bonuses become guaranteed once declared, locking in value over time

Cons

• High expense ratio: TER of 5.12% over 5 years is significantly higher than peers (0.94%–1.93%)
• Weak recent fund performance: Net investment return of -0.03% over 5 years lags comparable products
• No SRS or CPFIS payment: Cannot use retirement savings schemes for premiums
• No cash coupons: Unlike some endowment plans, no periodic payouts during the term
• Early surrender penalties: No surrender value until the 2nd policy anniversary; death within first year from non-accidental causes only returns premiums without interest
• Projected yields modest: 2.17%–3.10% p.a. projected yield to maturity

Who it may suit

i-WealthSaver may suit savers prioritising guaranteed values and flexibility in policy terms, particularly those who value the secondary life insured feature for estate continuity. The plan's higher expenses and weaker recent fund performance suggest it may be less suitable for those primarily seeking strong investment returns. Given the limited-pay structure and lack of SRS/CPFIS eligibility, it may appeal most to individuals with surplus cash seeking a disciplined, medium-to-long-term savings vehicle with some life protection, who are comfortable with the trade-off between guaranteed benefits and non-guaranteed bonus potential.

This is general information based on CompareFIRST.sg data, not financial advice. Premiums and features can change; please verify with the insurer or a MAS-licensed financial adviser before making any decision.