The single premium endowment plan has gained popularity over the recent years. With the successful launch of NTUC Income’s Capital Plus and China Taiping’s i-Save, Aviva decided to jump on the bandwagon by offering a similar three-year endowment plan called MySecureSaver. The plan offers 2.25% Guaranteed Interest per year for 3 years, which is higher than banks’ fixed deposit rates and Singapore Savings Bond (SSB)‘s interest.
What is MySecureSaver?
Aviva’s MySecureSaver is a single premium, non-participating savings plan. This means that all returns are guaranteed. The plan offers:
- Guaranteed maturity yield – 2.25% over 3 years.
- Capital guarantee upon maturity.
- Guaranteed issuance without the need for medical check-ups – hassle-free application.
- Death Benefit – pays out 101% of your single premium upon your death.
How does MySecureSaver work?
Suppose you want to save for the down payment of a new home in three years’ time and you don’t want to invest in the stock markets amidst the US-China Trade War.
You will receive $213,920 for a $200,000 savings.
How can you buy this plan?
Unlike other single premium plans which you can only use cash, you can use either of the following to fund this plan.
- Supplementary Retirement Scheme (SRS)
The minimum premium requirement is $20,000 and the maximum premium you can buy per person is $1 million.
As a licensed adviser, I can help you apply for this product. But do note this is a tranche product and is based on a first-come, first-served basis.
If you are interested, please submit your request using the form below.