The Best Endowment Plan in Singapore

When planning for your child’s future, one of the most important aspects is to ensure their financial needs are taken care of. One way to do this is by investing in an endowment plan. Endowment plans are unique in that they combine insurance protection with savings and investment returns. They also offer tax benefits that can help you save on premiums and increase your returns.

However, with so many endowment plans in the market, it can be difficult to decide which one is right for you. To help you, we have compiled a list of the best endowment plan in Singapore based on various factors, including investment returns, premium payment period, payout age options and cash benefits.

The HSBC Life Online Endowment plan is a great option for Singaporeans who want to invest in an affordable and convenient way. It requires a minimum single premium of S$10,000 and can be paid via cash or Supplementary Retirement Scheme (SRS). This policy also offers death benefit coverage of 101% of the single premium in the event of death before the endowment plan matures. Moreover, the plan is regulated by the Monetary Authority of Singapore and provides an opportunity to earn up to 3.6% return over two years upon maturity.

Another popular endowment plan in Singapore is the AIA Smart Wealth Builder. It is a flexible plan that allows you to choose the premium payment term and policy duration based on your financial goals. In addition, this plan gives you the option to add on riders and additional benefits such as cancer care premium waiver and death and total permanent disability coverage.

If you’re looking for a short-term endowment plan that can provide you with a high yield, consider the DBS SavvyEndowment 10. This plan only requires a commitment of two years and has an estimated investment return of up to 3.6%. It also offers a lump sum payout at the end of the policy term, as well as terminal illness and death benefits.

For a comprehensive education endowment plan that offers both life coverage and a guaranteed cash bonus, try the Manulife Educate. It has a flexible payout age of 18 or 20 and allows you to accumulate yearly cash payments that you can use for your child’s education expenses. In addition, you can add on extra riders and benefits like terminal illness coverage, cancer care premium waiver, and payor premium waiver to further protect your investment. This plan is an excellent choice for anyone who wants to save money for their children’s education and achieve their financial goals in the process. Managing an endowment plan requires discipline, planning, and regular review. If you are not sure where to start, consider consulting a professional financial advisor for advice and guidance on choosing the best endowment plan in Singapore. They can also help you determine the best investment strategy based on your goals and risk tolerance.