Tiq CashSaver — A New Participating Endowment Plan from Etiqa

Overview

Tiq CashSaver is a regular premium participating endowment plan from Etiqa Insurance Pte. Ltd. (credit-rated A by Fitch) that combines savings accumulation with modest life protection. The plan pays a guaranteed Yearly Cash Benefit of 3.9% of face value starting from the end of the second policy year, plus a Maturity Benefit at policy term end. Policyholders choose a premium payment term of 2 or 5 years, with total policy terms ranging from 6 to 15 years. The plan is issued on a guaranteed basis — no health declarations or medical checks are required — and includes death, terminal illness, accidental death, and total/permanent disability premium waiver benefits. It is a participating policy, meaning bonuses from Etiqa's participating fund are non-guaranteed. Based on a $2,500 annual premium, the illustrated maturity value is $9,727 guaranteed (up to $11,423 projected), with a projected yield to maturity of 1.86%–2.95% p.a.

How It Compares

Compared on a common basis (age 35, male, non-smoker, $10,000 annual premium), Tiq CashSaver offers a coverage term of 11 to 15 years. Its participating fund has delivered net investment returns of 0.43% (5-year) and 2.72% (10-year), with a total expense ratio of 1.93% over 5 years. This is lower than both PRUIndex Income Boost (Prudential, TER 2.27%) and SavvySpring (II) (Manulife, TER 2.40%), suggesting better cost efficiency. However, Singlife Steadypay Saver, with a longer 21–25 year term, shows stronger net returns (1.24% 5-year, 4.07% 10-year) despite a higher TER of 2.59%, and offers a guaranteed surrender value of $33,940 at year 20. Tiq CashSaver's shorter term and lower expense ratio may appeal to those seeking a more compact savings horizon, though its illustrated surrender value at year 10 is only $3,971 guaranteed (up to $4,912 projected) against $2,500 annual premiums.

Pros

• Guaranteed issuance — no medical underwriting required
• Lower expense ratio (1.93% 5-year) than comparable peers
• Yearly Cash Benefit from year 2 provides regular liquidity
• Extended grace period option for retrenchment or hospitalisation
• SDIC protection under the Policy Owners' Protection Scheme
• Flexible premium terms (2 or 5 years) with policy terms from 6 to 15 years

Cons

• Modest projected returns — yield to maturity of just 1.86%–2.95% p.a.
• Weak 5-year fund performance (0.43% net return)
• No SRS or CPFIS premium payment allowed
• Surrender values are low in early years — $3,971 guaranteed at year 10 on $2,500 annual premiums
• Death benefit is only 101% of premiums paid plus bonuses — limited protection element
• Non-guaranteed bonuses mean actual maturity values could be lower than projected

Who It May Suit

Tiq CashSaver may suit savers who prioritise simplicity and guaranteed issuance over returns, particularly those who want a short-to-medium-term endowment with regular cash payouts and are comfortable with modest growth. It is less suited to investors seeking meaningful protection coverage or higher yield potential, where alternatives like Singlife Steadypay Saver (with longer terms and stronger historical returns) might be considered. Those using SRS or CPIFS funds for premium payments should look elsewhere, as this plan does not accept them.

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.