About eTiQa ePREMIER retirement
eTiQa ePREMIER retirement is distributed by MayBank relationship managers and Financial Advisors Representative (FAR). It is a limited payment participating endowment which provides monthly Guaranteed Retirement Income for 10 or 20 years. Also, there will be a non-guaranteed maturity benefit paid out at the end of the policy term.
eTiQa ePREMIER retirement is a guaranteed issuance policy which does not consider policyholder’s medical condition upon sign up. It is a straight forward retirement plan which provides a death benefit of 101% of the total premium paid. A unique feature of this retirement plan is the Major Cancer Benefit.
Major Cancer Benefit
If the insured is suffering from any one of the Major Cancer for the first time on and it happened before insured’s age 70, eTiQa ePREMIER retirement will pay 9 times of the Guaranteed Monthly Retirement Income as a lump sum benefit.
This benefit will be payable on top of the monthly retirement income and will only be paid once. Do note that this benefit will not be activated upon diagnosing of an early or intermediate stage of cancer. Standard exclusions stated in the policy document will apply for this benefit.
3 payment options
- Limited payment of 10 years
- Limited payment of 5 years
- Limited payment of 2 years (This option is not typical among other insurers. Many clients in mid-50s like this option in eTiQa ePREMIER retirement due to the short payment term)
2 retirement age option
- Age 60
- Age 65
2 income payout period
- 10 years
- 20 years
Pros of eTiQa ePREMIER retirement
- eTiQa ePREMIER retirement provides one of the highest total illustrated yield (guaranteed + projected) at maturity among similar plan in the market
- It also provides one of the highest guaranteed illustrated yield at maturity
Cons of eTiQa ePREMIER retirement
- eTiQa ePREMIER retirement’s product illustration does states the guaranteed yield at maturity so one will have to calculate manually.
- eTiQa’s participating (par) fund started in August 2014 but did not invest the par fund until late December 2014 when there was more clarity in the investment environment. Hence, the par fund has less than 10 years of historical performance. Based on the data from eTiQa’s Participating Fund Update from 2015 to 2019, the compounded yield of the participating fund is higher than 3.25% p.a. but lower than 4.75% p.a.
Have you started your retirement planning?
- Do you how much you need to retire?
- Will having a constant stream of monthly income sounds good to you?
- Do you want to ensure you get a retirement plan that is most suitable for you?