Etiqa Essential life cover is a whole life plan that offers coverage up to 4x the Sum Assured against Death, TPD, and TI with a premium payment term over 5, 10, 15 or 20 years.
Etiqa Essential life cover product details
- Life policy – Whole Life Policy
- Option to increase coverage at key milestones without medical checks
- Additional guaranteed cash
- Lifetime Coverage
- Be protected 100% of Sum Assured against Death, Total and Permanent Disability, and Terminal Illness
- If needed, select a multiplier coverage 2x, 3x or 4x of Sum Assured
- Choose to pay premiums over 5, 10, 15 or 20 years
- Yearly Payouts
- From the age of 65, you can choose to start receiving yearly income to supplement your retirement for 10 years
- Riders available to cover Early Critical Illness, Critical Illness, and premium waivers
Read About: Whole Life Policy: How does it work?
In-depth Review: 3 Best Whole Life Plans in Singapore for Insurance Coverages (2020 Edition)
Features of Etiqa Essential life cover at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: No
Health and Insurance Coverage
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: No (Yes with rider)
Early Critical Illness: No (Yes with rider)
Health and Insurance Coverage Multiplier
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Optional Add-on Riders
- Extra secure CI
- Extra assure early CI
- Extra secure waiver
- Extra payer waiver
Additional Features and Benefits
For further information and details, refer to Etiqa website. Alternatively, fill-up the form below and let us advise accordingly.
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Etiqa Essential life cover may be suitable if you are looking for
Etiqa Essential life cover may potentially be a good fit if the following matters to you:
- High protection for Death. Total and Permanent Disability, and Terminal Illness coverage
- High Early Critical Illness, Critical Illness coverage in an Insurance Policy with riders
- Health and Protection coverage due to a shortfall in your Insurance Portfolio
- Accumulating cash value in the policy for financial returns in the long-term
- Paying premiums only for a limited number of years and enjoying coverage for a lifetime
Read About: How much insurance coverage do you really need in Singapore *NEW*
In-depth Review: Term insurance vs Whole Life insurance – Which is better for you?
Etiqa Essential life cover may not be suitable if you are looking for
Etiqa Essential life cover may potentially be a bad fit if the following matters to you:
- Liquidity or flexibility of withdrawal in your insurance policy
- Access to cash from your policy on a regular basis
- Insurance policy with a high surrender value in the early years of the policy
- Potentially higher financial returns compared to a pure investment product
In-depth Review: 3 Best Endowment Savings Plans in Singapore with Lifetime Wealth Accumulation (2020 Edition)
In-depth Review: 3 Best Investment Linked Policies in Singapore for Wealth Accumulation (2020 Edition)
Further considerations on Etiqa Essential life cover
- How are the investment returns of Etiqa or Etiqa Essential life cover based on historical performance?
- How good is Etiqa Essential life cover compared to Whole Life Policy from other insurance companies?
- Can Etiqa Essential life cover fulfill my financial insurance, health, and protection needs?
The above information may not fully highlight all the product details and features on Etiqa Essential life cover. Talk to us or seek advice from a financial adviser before making any decision about Etiqa Essential life cover.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Read About: Where do I start with financial planning?
Compare before you commit
Before committing to a whole life insurance policy, it certainly pays to make an effort to compare. Specific product features, benefits, and payouts will differ more than you think across insurance companies.
Why regret only years later, when you find out that you are not getting the best insurance policy available for the premium paid?
Even worse, to know you can compare whole life insurance plans here, 100% free of charges on the InterestGuru.sg platform.
Is Etiqa Essential life cover suitable for me?
Contact InterestGuru using the form below. Our panel of Independent financial planners will advise accordingly, based on your financial profile and protection needs.
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