i-Assure99 by China Taiping Insurance (Singapore) Pte. Ltd.

i-Assure99 is a non-participating whole life plan designed to provide lifelong protection for death and total & permanent disability (TPD) coverage until age 99. A key feature of this plan is the Longevity Benefit, which pays out 100% of the basic sum assured as a lump sum if the insured survives to age 99. The policy accumulates a guaranteed cash value starting from age 80, provided premiums are paid up to that point. Premiums can be paid for a term ending at age 65 or 99. Unlike many participating policies, i-Assure99 does not have non-guaranteed returns elements, cash coupons, or sum assured multipliers. It is denominated in Singapore Dollars and is protected under the Policy Owners’ Protection Scheme administered by SDIC.

How it compares

The following comparison is based on a standard basis of age 35, Male, non-smoker, using per $100,000 sum assured figures for direct comparability.

Premium Cost Efficiency i-Assure99 offers the lowest annual premium among its peers at $723. This is significantly lower than ValueLife65 ($1,457), Complete Life Secure (100%) ($1,612), and China Life Lifetime Income Plan ($4,418). The wide range in premiums reflects different premium payment terms: i-Assure99 allows flexible terms from 26 to 30 years, whereas ValueLife65 has a shorter term of 11 to 15 years, and China Life’s term is very short (2 to 5 years), which drives up the annual cost.

Cash Value and Early Surrender When comparing early surrender values at year 20 per $100,000 sum assured, i-Assure99 does not provide a specific illustrated surrender value in the peer table, whereas competitors do: China Life Lifetime Income Plan offers $22,090, ValueLife65 offers $21,856, and Complete Life Secure (100%) offers $15,200. However, product-specific data indicates that i-Assure99 only acquires a guaranteed surrender value from age 80 onwards. For a $500,000 sum assured, the illustrated surrender value at year 30 is projected at $150,000, with a negative projected surrender yield of -0.28% p.a. This suggests that early termination may result in a loss relative to premiums paid, consistent with the general warning that early surrender involves high costs.

Returns and Costs Peer data shows that Complete Life Secure (100%) offers net returns of 1.58% at 5 years and 4.04% at 10 years, with a Total Expense Ratio (TER) of 0.94%. China Life Lifetime Income Plan shows a 2.36% return at 5 years but has a higher TER of 3.31%. i-Assure99 is non-participating, meaning it lacks these projected investment returns and associated expense ratios found in some peers. The distribution cost for a $500,000 sum assured is listed as $42,204.

Pros

• Lowest Premium: At $723 per year per $100k SA (age 35M), it is the most affordable option in this comparison.
• Longevity Benefit: Provides a guaranteed payout of 100% sum assured at age 99, offering a form of endowment-like benefit for long-term survivors.
• Flexible Premium Term: Allows choice between paying until age 65 or 99.
• Guaranteed Cash Value from Age 80: Provides certainty on cash value accumulation in later years without relying on non-guaranteed bonuses.
• Simplified Structure: As a non-participating plan, it avoids complexity related to bonus declarations and investment fund performance.

Cons

• No Early Cash Value: The policy only acquires surrender value from age 80; early termination likely results in significant financial loss (illustrated yield of -0.28% p.a. at year 30).
• Lower Peer Surrender Values: In the peer table, competitors offer substantial cash values by year 20 ($15k–$22k per $100k SA), whereas i-Assure99 does not show comparable early-year liquidity in this dataset.
• No Investment Upside: Being non-participating, it does not offer potential for higher returns through participating fund performance or cash coupons.
• Limited Payment Flexibility: Does not allow SRS or CPFIS premium payments.

Who it may suit

i-Assure99 may suit consumers seeking a low-cost, straightforward whole life policy with a specific focus on legacy planning or longevity protection rather than early cash accumulation. It is appropriate for those who prioritize guaranteed benefits over investment-linked returns and are comfortable with a long-term commitment where liquidity is not expected until age 80.

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.