Endowment Plan - SimplyWealthSG

What is Endowment Plan?

An Endowment Plan is a life insurance policy that combines coverage with savings. It provides a lump sum payout at the end of the term or to beneficiaries if the policyholder passes away, offering both protection and savings.

Benefits of Endowment Plan:

Guaranteed Payout:
Endowment plans offer a guaranteed sum assured payout at the end of the policy term, providing financial security and helping you meet long-term financial goals

Savings and Investment:
Part of the premiums paid into an endowment plan is invested, allowing you to accumulate savings over time. This can help in building a financial cushion for future needs

Tax Benefits:
Premiums paid towards endowment plans are eligible for tax relief under the Supplementary Retirement Scheme (SRS).

Bonuses and Additions:
Many endowment plans offer bonuses such as reversionary bonuses, terminal bonuses, and loyalty additions, which can significantly increase the maturity benefit

Get Your Quote Now!

manulife

ReadyBuilder (II)

Payment till Age
5/10/15/20 years or Single Premium

Policy Term
Option for wealth accumulation up to age 120

Special Benefit
Premium freeze option, retrenchment benefit, and change of life insured.

china taiping

i-Saver8

Payment till Age
2 years

Policy Term
8 years

Special Benefit
Capital guaranteed at maturity, no medical check-up required

singlife

Choice Saver

Payment till Age
5 to 25 years

Policy Term
10 to 25 years or up to age 99

Special Benefit
Capital guarantee, potential for reversionary and terminal bonuses

income

Gro Cash Flex Pro

Payment till Age
5/10/15/20/25/30 years

Policy Term
10/15/20/25/30 years, or up to age 120

Special Benefit
Yearly cash payouts, option to accumulate cash payouts with interest

manulife

GrowSecure

Payment till Age
5/8/10 years

Policy Term
16 or 18 years

Special Benefit
Capital guaranteed at maturity, premium waiver on total and permanent disability

income

Gro Saver Flex Pro

Payment till Age
5/10/15/20/25/30 years or Single Premium

Policy Term
10/15/20/25/30 years, or up to age 120

Special Benefit
Secondary life assured, premium waiver riders

Get Your Quote

Receive unbiased advice from an MAS-Licensed Expert who will assist you in comparing insurance quotes from various providers.

This service is completely free and comes with no obligations.