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Pros and Cons of Etiqa ePREMIER eternity presto

Etiqa ePREMIER eternity presto is a single premium endowment plan offered by some financial advisers and Maybank bankers. It is designed to provide a stream of lifetime income, and minimum premium starts from S$100,000. Monthly cash benefits (comprising of guaranteed and non guaranteed portions) start from the end of the 1st year. There is also an additional guaranteed cash benefit at every 15 year interval. You have a choice of receiving the cash benefits as monthly payouts or to reinvest in the plan at the prevailing rate and withdraw only when needed.

Etiqa ePREMIER eternity presto can be used for multi-generation planning. A policy implemented in the life of the child/grandchild would enable parents and grandparents to enjoy the cash benefits while they are alive and pass the monthly payouts to the child/grandchild upon their demise. Upon the death of the insured, the beneficiaries would receive the invested amount plus bonus.

Etiqa ePREMIER eternity presto can also be used for personal retirement planning. The monthly guaranteed coupon can offset monthly expenses during retirement. A combination of this plan with CPF Life and other insurers’ retirement plan can give one a better peace of mind for his/her retirement.

Etiqa ePREMIER eternity presto

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Pros of Etiqa ePREMIER eternity presto

  • Yearly cash benefits start from as early as the end of 1st year
  • The interest rate on cashbacks usually higher than bank deposit rates, the prevailing rate is at 3% p.a.
  • Guaranteed acceptance with no medical examination required

Cons of Etiqa ePREMIER eternity presto

  • The internal rate of return (IRR) based on 4.75% is lower than similar plans if the plan is held to age 100
  • Total cash payouts (guaranteed + projected) as a percentage of single premium is one of the lowest in the market
  • Reinvestment rate is not guaranteed and is lower than some of the other plans in the market

To find out how Etiqa ePREMIER eternity presto compares with other plans in the market

To understand if Etiqa ePREMIER eternity presto is suitable for your needs

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There are many other options for endowment/retirement plans available. Contact our advisor here to find out the range of options available besides Etiqa ePREMIER eternity presto.

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