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Best Regular Insurance Endowment Plans In Singapore 2024

Best Regular Insurance Savings Plans In Singapore

Last Updated on by Tree of Wealth

When it comes to savings plan, there are a huge array of them in the market and to be honest, it is a daunting task to really sift out the best on according to what you need and want. Everyone wants to get maximum financial returns out of their savings but most people go about it the wrong way. Insurance savings plans, for example, offer a relatively higher return for your savings than the interest you get by saving in a bank account. A lot of insurance companies in Singapore offer insurance savings plans but their individual products and features vary.

This article highlights 5 of the best savings plan in the market to help you distinguish all the savings plan ads that is the clutter. After-all, you want to get the best value out of your savings and make your money, well, work harder for you. This article will help you figure this out some of the best insurance savings plan in Singapore that are tailored to meet your needs and preferences.

Best Insurance Endowment plans for wealth accumulation in Singapore

This review offers an in depth comparison on 5 top insurance savings plans. The factors that have been considered when coming up with this list includes:

  • Flexibility of the savings plan (able to withdraw and still grow well)
  • Lock in periods
  • Financial returns
  • The rate of returns against the commitment period
  • Competitiveness of premiums against returns after maturity of the savings plan

1. Best Insurance Endowment Plan for Flexibility, Growth & Legacy –

Etiqa Enrich Flex

Etiqa’s Enrich Flex is a true versatile savings plan that matures when you turn 100 years old. It breaks even on the 15th year and functions like an account that grows your money in it while having the option to withdraw anytime you want.

This plan’s versatility makes it suitable for children’s education for young parents, retirement planning for pre-retirees and even for B.T.I.R (Buy Term Invest the Rest). Not to mention it is also good for legacy planning. 

Returns Comparison For The Etiqa Enrich Flex 



Enrich Flex


SmartWealth Builder II




Savings Term

20 Years

20 Years

Breakeven (Guaranteed)

15th year

15th year

Value at the end of 20th year


Plan continues to grow until you are 100 years old


Plan continues to grow until you are 125 years old

What We Like

  • Secondary Life Insured (SLI) – SLI continues to accumulate your wealth and growing with them through their lifetime. Policy will only expire on the 100th birthday of the primary policyholder (which is you). Even if the primary policy holder is no longer around (death occurs), the plan will act as an ongoing wealth compounding interest garnering instrument for the SLI.

  • Capital guaranteed at Year 15 –  Capital is guaranteed once the policy reaches its 15th policy anniversary regardless of your premium term.

  • While you can withdraw the cash value of the policy at any life milestone, you get more value if you leave it in the plan and re-invest for the long term.
  • Guaranteed Issuance – No medical check-up, no health underwriting procedure. Issuance of the plan is guaranteed.

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2. Best Insurance Endowment Plan for Yearly Cash back Benefits: Singlife Flexi Life Income II

Singlife Flexi Life Income is an endowment plan that generates a lifetime of yearly payouts that could help offset such periods of instability and give you emergency fund in case of a rainy day.

It breaks even at a short 3 to 5 years and continues to reinvest and grow should you decide not to withdraw it. It is a flexible insurance savings plan that offers you the choice of receiving yearly cash back from the 3rd to 5th policy year. This allows you to use your annual cash back to maintain your lifestyle goals such as your monthly dining expenses, overseas trips or to even act as a retirement income.

With 100% of the principle guaranteed, you can choose to collect a single lump sum payout instead. It also allows you to accumulate your annual cash back, which will ensure you get higher returns when you withdraw your savings. 

You may be interested: Best Lifetime Income Plans in Singapore 


  1. Singlife Flexi Life Income II provides you with income payouts annually for your lifetime which includes attractive benefits such as cash bonus and guaranteed cash benefit.
  2. Guarantees your entire capital which , depending on your chosen premium payment term, can be availed at the end of the accumulation term or earlier.
  3. Provides you with the flexibility of choosing when to receive your yearly income by letting you choose the premium payment term and accumulation period depending on the option you choose.
  4. Provides you with a protection cover that covers death and terminal diseases.
  5. Aviva MyLifeIncome gives you flexibility by stating that they don’t require any medical checkups.
  6. Premium Flexibility: Single premium or payment term options which include 3, 5, 10 , 15, 20 or 25 years.


Singlife Flexi Life Income II

Premium Term Options

Single Premium 3, 5, 10, 15, 20 or 25 years

Payout Term

Till age 99

Principal Guaranteed with Cash Benefit Payout

End of Accumulation Period or earlier

Principal Guaranteed with Accumulation

End of Accumulation Period or earlier

Premium Waiver upon TPD


Secondary Life Assured


Cash Payout Options

For Single Premium: 4 to 40 years

For 3 years premium payment term:

2 to 40 years

For 5, 10, 15 , 20, 25 years

Premium payment term: 0 to 40 years

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What We Like

  • Earliest Principal Guarantee – Aviva MyLifeIncome plan guarantees your principal by year 5, which is way earlier compared to other lifetime income plans in the market.
  • If premium term is 5 years, breakeven and payout can start on the 6th year right after that. 
  • Flexible cash payout option – Aviva MyLifeIncome plan provides you with a lot of flexibility by offering you multiple premium term and cash payout options to choose from. This can help you customize the plan according to your and your family’s needs.
  • Earliest guarantee of principal with cash benefit and accumulation period- This plan also offers you the quickest time to avail your principal guaranteed with cash benefit payout and accumulation by offering you the chance to collect it at the end of your accumulation period or even earlier, depending on your plan.

What We Don’t Like

  • No Premium waiver upon TPD, the plan doesn’t waive your premium in the event that you’re suffering from total and permanent disability.

Here we talked about Aviva’s MyLifeIncome along with similar plans in the market: 3 Best Lifetime Income Plans in Singapore: Aviva MyLifeIncome VS NTUC Gro Cash Harvest VS NTUC Gro Prime Saver

3. Best Insurance Endowment Plan for Shortest Premium Term (2 yrs): China Taiping i-Saver8

China Taiping’s i-Wealth Builder is a 2 years premium term with a total of 8 years to maturity, with cash benefits on the 3rd year onwards. Another short term savings plan is NTUC Income’s Gro Power Saver. However, that is a 3 year premium term and a total of 10 years to maturity. There is no cash withdrawal benefit for this.

Comparison Table

Another thing to note about China-Taiping i-Saver8 is that it now does not offers a yearly guaranteed cash back for the 6 remaining years of the policy term. Upon maturity, there is a lump sum to be drawn. To better illustrate the tradeoffs of each option, we have made the following table for you to compare returns:


China-Taiping i-Saver 8

Premium term


Policy term


Premium amount (annually)


 Death Benefit

105% of net premium

Riders Available


Total premium paid


Total Amount Upon Maturity – Guaranteed


Total Amount Upon Maturity – Non-Guaranteed (at 4.25%)


Cash Back Benefit


Illustrated Yield at Non-Guaranteed 3%


Illustrated Yield at Non-Guaranteed 4.25%


Capital Break-even at Maturity


Interested to learn more?

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What We Like

  • Shortest Premium & Policy term in the market
  • Comparatively higher reinvestment rate
  • Cash back option

Read More: Best Short-Term Savings Plans in Singapore: China Taiping i-Saver8 VS NTUC Income Gro Power Saver 2022

Conclusion For Best Regular Endowment Savings Plans In Singapore

All the endowment and savings plans here have a vast difference in terms of savings term, maturity amount, withdrawal amount and even lock in period. They genuinely are strong in the aspect that they are designed for. Some are shortest term yet yields strong returns, some are longest term but because they break even early they garner strong returns. There is however on one size fits all endowment plan. 

In a dilemma? Speak with us! 

Fill in the form below and our friendly licensed FA advisor will get in touch with you. Based on your needs, a custom made solution will be adjusted only addressing your concerns.

No obligations, no hidden fees. All advice are of no charges.


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