Deal with life’s unpredictability and have peace of mind about your financial future by investing in a life insurance plan. Life achievements may differ from person to person but one goal remains the same, to be financially secure and to ensure your loved ones will continue to have what you provided for them. Whether you have a small investment or a great legacy, Etiqa has a plan that encompasses life protection, savings and investments, tailored for you to make your investments fruitful.
About Etiqa Singapore
Etiqa Insurance Pte. Ltd is one of the largest life and general insurers in Malaysia. Its parent company, Maybank Group, is one of Asia’s leading financial services groups. Etiqa has plans for global expansion with a presence already in markets of Singapore, Pakistan, Brunei, and Malaysia. It aims at helping customers protect their assets, maintain their lifestyle and build a better future by offering comprehensive insurance products. Etiqa aspires to provide simpler and more personal insurance products and services relevant to customer needs.
Types of Etiqa Life Insurance
Direct – Etiqa Whole life
A life-time plan that provides a guaranteed lump sum plus accumulated bonuses in the event of death, total and permanent disability (TPD) or terminal illness (TI). You can purchase this insurance directly from Etiqa and avoid any intermediary fee. Persons between 19 and 65 years can avail this policy.
Note: All ages mentioned is the age next birthday.
- Lump sum in the case of death or TPD up to the age of 65, and TI during your lifetime.
- Choice of coverage from $50,000 to $200,000.
- Premium payment terms of up to the age of 70 or 85.
- Guaranteed premium – premium will stay the same throughout the term.
- Accumulated cash value after the 3rd policy year.
- Accumulated bonuses – will increase your coverage over time, though bonuses are not guaranteed until declared.
Direct – Etiqa CI rider – Upon diagnosis of any of the 30 critical illnesses (CI) listed, Etiqa will accelerate the death benefit of the basic plan.
Savings & Retirement plans
eSAVE Assure Presto
A safe savings plan with flexibility to choose the way of receiving returns. Enjoy life protection while you enhance your savings with this guaranteed issuance savings plan.
- Quick application.
- No health checks required.
- 7-year term with guaranteed capital returned and rewards (if any) at the end of 12 years.
- Option to receive returns in a lump sum or in annual payments for 10 or 15 years.
- Automatic Premium Benefit to fund your premium from the 8th year to the 12th.
- In the event of death before the end of year 12, 101% of the total premiums paid and any accumulated bonuses is given. This does not include automatic premium benefit.
- In the event of death after the end of year 12, the plan will pay 101% of the returns minus all yearly payments disbursed plus any non-guaranteed interest of 3% p.a.
- eXTRA cancer waiver - Upon diagnosis of major cancers, the payment of premiums is waived until the age of 86.
- eSAVE Flexi -A dual savings and protection plan that provides financial protection against unforeseen events and rewards you with yearly cash benefits, easing your financial strains, while still saving.
- 15-year policy term with 13 guaranteed yearly cash rewards. Yearly rewards begin from the end of the 2nd year.
- Option of saving accumulated cash rewards at 3% interest p.a. (non-guaranteed).
- Guaranteed maturity benefits. Including annual cash rewards, the total benefits amount to 120% of the sum insured.
- In the event of death, total and permanent disability (TPD) or terminal illness (TI) before age next birthday 71, lump sum is paid out along with the bonuses. Cash advance for funeral expenses is also provided.
- Guaranteed Insurability Benefit (GIB) - Etiqa guarantees the approval of a new term or endowment policy without any medical evidence on any 2 of these life events: marriage, birth/adoption of child, or graduating from tertiary education.
- eXTRA secure waiver – If diagnosed with critical illness (CI), premium payment is waived till the age of 86.
- eXTRA payer waiver – Upon death or diagnosis of TPD or CI, premium payment is waived till the age of 25.
- eXTRA cancer waiver – If diagnosed with major cancers, premium payment is waived until the age of 86.
- eXTRA accident cover – Receive an extra cash payment in case of injury or death of life insured due to an accident. An option is available to cover medical expenses and weekly income in the event of an accident.
- eXTRA essential – Receive an extra extra cash lump sum in the event of death or TI before 71 years of life insured.
Savings can be a delight with the eSAVE Delight plan which ensures that your short-term earnings serve your long-term goals. eSAVE Delight gives you protection against the unforeseen and helps you save for the future.
- 7-year premium payment term.
- Lump sum cash payout at the end of 12 years.
- Automatic Premium Benefit lets you continue the policy to 12 years without paying any more premiums.
- Lump sum guaranteed plus any added bonuses in case of death or terminal illness before age 71.
- Cash will be advanced to cover funeral expenses.
- eXTRA secure waiver – if diagnosed with critical illness, premiums are waived till the age of 86.
- eXTRA cancer waiver - if diagnosed with major cancers, premiums are waived till the age of 86.
- eXTRA payer waiver – Upon death or diagnosis of total and permanent disability or a critical illness of the payer, the life insured can continue the policy without paying premiums up to the age of 25.
An insurance plan designed to help you cultivate the habit of disciplined savings while providing you protection against life’s unforeseen events.
- Maturity benefit at the end of the policy term.
- Flexible terms of 10 to 25 years.
- In case of of death or terminal illness before age 71, a lump sum is guaranteed plus any additional bonuses. Cash will be advanced for funeral expenses.
- Extra protection with Guaranteed Insurability Benefit (GIB). Guaranteed approval of a new term or endowment policy without medical evidence on any 2 of these life events: marriage, birth/adoption of child, or graduating from tertiary education.
- eXTRA essential - Extra lump sum cash payment upon death or in the event of terminal illness before age of 71.
- eXTRA secure – If diagnosed with a critical illness, an advance payment from your policy is given.
- eXTRA secure waiver - If diagnosed with critical illness, premiums are waived till the age of 86.
- eXTRA payer waiver – In the event of death or diagnosis of total and permanent disability or a critical illness of the payer, the insured can continue the policy without paying premiums up to the age of 25.
- eXTRA accident cover – Extra cash is paid in case of injury or death by accident. You can opt to cover medical expenses or receive a weekly income.
eSAVE Enhance (Limited Pay)
A short-term premium plan to reward short-term savings with long-term benefits. This plan is designed to help you save and ultimately achieve your goals while providing you protection against life’s unforeseen circumstances.
- Premium term of 5 years only.
- Cash benefit in 10 years.
- In case of of death or terminal illness before age 71, a lump sum is guaranteed plus any additional bonuses. Cash advance given for funeral expenses.
- Guaranteed Insurability Benefit (GIB) which ensures approval of a new term or endowment policy on any 2 of these life events: marriage, birth/adoption of child, or graduating from tertiary education. Medical proof is not required.
- eXTRA secure waiver Premiums are waived till the age of 86 if diagnosed with critical illness.
- eXTRA cancer waiver - Premiums are waived till the age of 86 if diagnosed with major cancers.
- eXTRA payer waiver – In the event of death, or diagnosis of total and permanent disability or a critical illness of the payer, the life insured can continue the policy without paying premiums up to the age of 25.
A secure plan with lasting benefits to ensure your wealth earned through your lifetime is fruitful. Tailored to guarantee your asset distribution and legacy carries forth to ensure an uncompromised lifestyle and inheritance for your loved ones.
- Simple plan with one-time premium for lifetime protection.
- High coverage guaranteed of at least $500,000 based on a minimum death benefit of $500,000.
- Guaranteed benefit in the event of death or terminal illness before the age of 71.
Drive your achievements into a legacy you are proud of by securing it for generations to come. Ensure your loved ones will always enjoy the lifestyle you have provided with this high coverage plan designed to suit your status.
- High-value protection with a minimum sum insured of $1 million.
- Affordable regular premium payments.
- Guaranteed fixed premiums.
- Policy terms of 10 to 83 years.
- High lump sum benefit in the event of death or terminal illness before the age of 71.
- Choose to be protected till the age of 100.
- Guaranteed renewal regardless of future health status.
- eXTRA secure waiver - If diagnosed with CI, premiums are waived till the age of 86.
- eXTRA premier waiver - If diagnosed with CI, early or intermediate stages, and in the event of accidental death, the lump sum is advanced.
- eXTRA disability cover/eXTRA disability income – If diagnosed with TPD before the age of 71, receive an advance lump sum or yearly income.
Compare ETIQA Life Insurance With Other Insurance Companies Offering Life Insurance in Singapore
- AIA Life Insurance
- AVIVA Life Insurance
- AXA Life Insurance
- Great Eastern Life Insurance
- Prudential Life Insurance
- Tokio Marine Life Insurance
- NTUC Life Insurance
FAQs - ETIQA Life Insurance
- What is guaranteed premium?
Guaranteed premium means your premium amount will be fixed throughout the term policy.
- What does CI, TI and TPD stand for?
CI stands for Critical Illness. TI stands for Terminal Illness. TPD stands for Total and Permanent Disability.
- What are add ons?
Add ons, also known as riders, are additional options you can avail to increase your coverage. Add ons available differ with the plan of your choice. Some add ons will waive premium payments in the event of death, terminal or critical illness, cancer, or total and permanent disability. Some add ons will give you a cash payment for these unforeseen circumstances.
- When does the insurance policy end?
Your policy will end in any of the scenarios given below:
- In the event of death of the life insured.
- You choose to terminate the policy by writing to Etiqa.
- Etiqa paid out 100% of the sum insured of this policy.
- At maturity date.
- The cover expiry date.
- Premium payment default resulting in automatic termination.
- The loan amount on this policy owing to us exceeds the cash value.
- I received the policy, but I am not happy with it. Can I cancel it?
If you have already paid the premium and received the policy document, you can return it to Etiqa within 14 days. Your premium amount will be refunded to you. Any expenses incurred in medical assessment will be deducted.
- How do I make a claim for insurance?
To claim insurance, you must submit a written claim to Etiqa within 3 months of the event. Any documents and evidence required will be at your own expense. Etiqa may require the life insured to be examined by a doctor they appoint.
- What is the difference between DIRECT whole life plan and other insurance products?
The key difference is that there is no financial advice given when purchasing a DIRECT plan. DIRECT whole life plan falls under Direct Purchase Insurance (DPI) which is a type of insurance product you can buy directly from life insurance companies. DIRECT plans do not have any intermediary fees.
- How is critical illness different from terminal illness?
A terminal illness is a fatal condition for which there is no cure. Terminal illness requires a doctor’s diagnosis of less than 12 months to live. A diagnosis of terminal illness in the presence of HIV is not considered for insurance.
Critical illness is a serious illness that a person will most likely recover from. The illness may cause the person to be unable to work temporarily or permanently. The person can claim insurance and use the money as a source of income or to recuperate and recover.
- Will I have to pay back the insurance I claimed for terminal illness if I survive past 12 months?
You are not required to pay back the insurance. The insurance policy would have ended and you cannot make any claims on the policy again.
News About Etiqa Insurance
Etiqa Insurance launches ePROTECT sMiles
Etiqa Insurance, the insurance arm of Maybank, has launched a new insurance policy which is an affordable usage based policy. The policy is called ePROTECT sMiles and can potentially save Singaporeans hundreds of dollars’ worth of insurance premiums on an annual basis.
The policy can provide a savings of up to 50% on premiums upfront alone and over the course of the year, allow Singaporeans to save as much as S$500 on their insurance premiums. The launch of ePROTECT sMiles comes after a peak in the interest towards usage based insurance or UBI. The policy gives drivers the same comprehensive car insurance coverage but rewards them for driving less.
ePROTECT sMiles uses telematics app technology to calculate the distance driven and adopts a pay-as-you-drive model. Its transparent plan along with its simple payment model sets the policy apart from other UBI car insurance policies.
28th June 2017