Category Archive: Endowment

May
13
2011

TM Wealth Enhancement (EnRICH)

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by Martin Lee

May 13, 2011

Didn’t had the opportunity previously to post about this new plan which was launched in April 2011 by Tokio Marine but here we go.

TM Wealth Enhancement (EnRICH) is a participating single premium 5-year endowment policy.

The maturity benefit payable will result in the following guaranteed and projected total yields:

Single Premium $20,000 to $199,000

Guaranteed Yield : 1.01% p.a.
Projected Yield: 3.02% p.a.

Single Premium $200,000 and above

Guaranteed Yield : 1.05% p.a.
Projected Yield: 3.06% p.a.

Upon death or TPD, 125% of single premium plus any attaching bonus will be payable in one lump sum. For those who do not meet the criteria of the simplified underwriting, the sum assured will be 100% of premium with attaching bonus.

The guideline for issue of a TM Wealth Enhancement (EnRICH) policy is as follows:

Min age at entry (min) : 1 age next birthday (Cash), 22 age next birthday (SRS)

Max age at entry (max) :70 age next birthday

Minimum premium: $20,000 single premium

Term : 5 years

This product is a strong rival to NTUC’s Growth plan, also a single premium endowment plan but of varying duration from 5 years onwards.

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Feb
18
2011

Relaunch of NTUC Capital Plus (CPN23)

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by Martin Lee

February 18, 2011

NTUC will be relaunching their Capital Plus (CPN23) today. Application will be closed once NTUC Income has received the sales allocation or by 15 March 2011, whichever is earlier.

This plan is opened to all policyholders and new applicants. The entry age is from 16 to 80 (last birthday), available for Cash or SRS.
It has a policy term of 2 years and a guaranteed yield of 1.4% p.a. upon maturity.

The minimum single premium per policy is set at $10,000 and the maximum single premium per Insured is set at $1,000,000.

If policyholder wish to invest in more than one Capital Plus policy, the maximum cumulative amount policyholder can invest for all policies is S$1,000,000.

Upon Death or Total and Permanent Disability (TPD) of the Insured:

a) within the first policy year, the benefit payable will be the single premium;
b) after the first policy year (and before maturity), the benefit payable will be 105% of the single premium.

For TPD, the benefit is payable if it occurs before age 65 (last birthday) or maturity, whichever is earlier.

I think the returns pale in comparison to that of CapitaMall Trust bonds (giving 2% pa) which are currently opened for subscription.

Given that the risk of CapitaMall Trust default within these two years should be relatively low, I think most people who are looking for this kind of products would probably go for CapitaMall Trust Bonds.

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Dec
13
2010

Relaunch of Capital Plus CPN23 and CPN24

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by Martin Lee

December 13, 2010

NTUC has relaunched their Capital Plus (CPN23 and CPN24) plans for a limited period.

From now till 20th December 2010, clients can invest into CPN23 which has a policy term of 2 years and a guaranteed yield of 1.4% p.a. upon maturity.

CPN(24) which is for reinvestment of maturity proceeds is available till 15 Dec 2010.

Capital Plus (CPN23)

Policy term of 2 years with a guaranteed yield of 1.4% p.a. upon maturity. The minimum single premium per policy is set at $10,000 and the maximum single premium per Insured is set at $1,000,000.

The entry age is from 16 to 80 (last birthday), available for Cash or SRS. Available till 20 December 2010.

Capital Plus (CPN24)

This plan is exclusive to policyholders who are receiving their maturity proceeds from now till end of the year.

It has a tenure of 2 years and a guaranteed yield of 1.7% p.a. upon maturity. Available till 15 December 2010.

The current fixed deposit rates at ICICI bank for a 2-year deposit are 1.4% p.a. for amounts less than $50k, 1.65% p.a. for amounts between $50k and $100k, and 1.9% p.a. for amounts $100k and higher.

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Nov
19
2010

Closure of NTUC Capital Plus CPN23

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by Martin Lee

November 19, 2010

Looks like many Singaporeans are hungry for yield.

Just not too long after its launched, NTUC Capital Plus CPN23 has been fully subscribed and will be closed today at 12pm.

The CPN23 was giving a yield of 1.4% p.a. for a 2-year duration, which was what ICICI bank was giving for any fixed deposits less than S$50k. Quite surprising at the huge takeup as ICICI even gave higher interest rates for amounts S$50k and above.

Capital Plus CPN24, which gives a yield of 1.7% p.a. for a 2-year duration, is still available.

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Nov
12
2010

NTUC Capital Plus CPN23 and CPN24

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by Martin Lee

November 12, 2010

NTUC just launched a new tranche of their Capital Plus a couple of days ago. Capital Plus is a single premium short-term endowment policy with guaranteed returns. You can invest using cash or funds from SRS. This product is available on a first come first serve basis and will be withdrawn once the sales allocation is reached.

Capital Plus (CPN23)

This plan is opened to all new and existing policyholders. It has a policy term of 2 years and a guaranteed yield of 1.4% p.a. upon maturity.

Capital Plus (CPN24)

This plan is exclusive to policyholders who are receiving their maturity proceeds from now till end of the year. It has a tenure of 2 years and a guaranteed yield of 1.7% p.a. upon maturity. Please note that this offer is not transferrable and policyholders will not be entitled to any reinvestment vouchers when they buy CPN24.

Application will be on a first-come-first-serve basis, except for the special reservation made for policyholders who are receiving their Capital Plus maturity in December 2010. Policyholders who are receiving Capital Plus maturity proceeds in December 2010 will be:

1. Receiving a letter from NTUC, inviting them to reinvest into CPN24.

2. Given guaranteed acceptance for the maturity proceeds, if the completed application form is received by 15 December 2010.

This offer is slightly superior to what Tokio Marine was previously offering for their TM Nest Egg (SP-Guaranteed 5) plan which gave 1.4% p.a. for three years.

ICICI bank used to (as recently as few weeks back) give very good rates for fixed deposit. They just reduced their rates but they are still giving among the best around in Singapore now.

Currently, they give 1.4% (amounts less than $50k) for their 2-year fixed deposit. This is equivalent to what NTUC is giving for their Capital Plus CPN23 series.

The current ICICI fixed deposit rates are as shown below:

SGD
Tenure < 50,000 < 100,000 >= 100,000
1 month 0.00% 0.00% 0.30%
3 months 0.15% 0.40% 0.67%
6 months 0.35% 0.60% 0.88%
9 months 0.55% 0.80% 1.05%
12 months 1.00% 1.25% 1.50%
24 months 1.40% 1.65% 1.90%
36 months 1.70% 1.95% 2.20%

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