Enrich Assure — A New Participating Endowment Plan from Etiqa

Overview

Enrich Assure is a regular-premium participating endowment plan from Etiqa Insurance Pte. Ltd. (credit-rated A by Fitch). It is quoted by premium — the buyer chooses an annual outlay (typical quotes range from $5,000 to $10,000) and the payout follows accordingly. The plan offers policy terms of 12, 21, or 26 years, with premiums payable for only the first 7 years of a 12-year premium term, thanks to an Automatic Premium Benefit that covers years 8–12.

The plan is structured around a Survival Benefit payable at the end of the 12th policy year, which can be taken as a lump sum or spread over 10 or 15 yearly payments. It is a guaranteed-issue policy — no medical underwriting is required. Benefits comprise a guaranteed component plus non-guaranteed reversionary and performance bonuses linked to the participating fund's performance. The fund's net investment return has been 0.43% (5-year) and 2.72% (10-year), with a total expense ratio of 1.93% (5-year).

How It Compares

Measured at a common basis (age 35, male, non-smoker, $10,000 annual premium), Enrich Assure's projected yield to maturity is 0.94%–2.10% p.a. — noticeably lower than its peers.

At a $5,000 annual premium, Enrich Assure's illustrated surrender value at year 10 is $8,096 (projected up to $11,336), and at year 20 it is $7,500 (projected up to $10,126). The illustrated maturity value is $3,750 guaranteed (up to $5,243 projected). Distribution costs at this premium level are $3,110.

Pros

• Guaranteed issue — no health declaration or medical checks required at application.
• Premium relief — only 7 years of premium payments for a 12-year premium term.
• Flexible payout — survival benefit can be taken as a lump sum or spread over 10 or 15 years.
• Bonus features — reversionary bonuses vest after year 3 and become guaranteed once declared; performance bonuses can enhance surrender/death/survival payouts.
• SDIC protection — policy is covered under the Policy Owners' Protection Scheme.

Cons

• Low projected returns — yield to maturity of 0.94%–2.10% p.a. is modest versus comparable plans.
• Weak fund performance — 5-year net return of 0.43% is well below the 3.00%–4.25% illustrated rates.
• High expense ratio — TER of 1.93% (5-year) is higher than AIA's 1.30% and comparable to HSBC's 1.88%.
• Surrender risk — early surrender values can be less than total premiums paid; year-20 guaranteed surrender value ($7,500) is below the $10,000–$15,000 contributed.
• No SRS or CPFIS payment — premiums must be paid with cash.
• Limited death benefit — only 101% of premiums paid plus bonuses, offering minimal protection.

Who It May Suit

Enrich Assure may suit individuals who value guaranteed issue (no medical underwriting), want a disciplined short-pay savings structure (7 years of premiums), and prefer flexibility in how the survival benefit is received. It is less suited to those seeking competitive investment returns or meaningful life protection — the savings element clearly dominates, with death cover only marginally above premiums paid. Buyers focused on yield may find AIA Smart Wealth Builder (II) more attractive, given its stronger historical fund returns and lower expense ratio.

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.