Last Updated on July 27, 2023 by Tree of Wealth

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China Taiping’s i-CashLife is more than just an endowment savings plan. It’s a legacy of financial stability that offers unique features like two premium payment terms spanning either 5 or 10 years. This plan stands by you until you reach 85, reinforcing your financial safety net over the long haul.

One of i-CashLife’s key flexibilities is the option to make withdrawals based on your accrued cash value, giving you the extra financial freedom when you need it. And with no medical underwriting required, the plan becomes even more accessible.

Moreover, any cashback you receive can be allowed to accumulate and gain interest over time, should you decide not to spend it immediately.

If you’re in search of a versatile tool that adapts to your changing financial goals and requirements at different stages of life, China Taiping’s i-CashLife has got you covered. It’s equally useful for planning your retirement, saving up for a dream vacation, or funding your children’s education.

Features At a Glance for China Taiping i-CashLife

Yearly Cashbacks for Life with i-CashLife

Start receiving annual cashbacks of up to 3.95% p.a. of the Total Yearly Premiums right after the completion of the selected premium payment term with i-CashLife, and this continues until the age of 120. These yearly cashbacks can be spent freely or accumulated to earn interest.

Loyalty Cashback Benefits

i-CashLife offers a guaranteed loyalty cashback, equivalent to 1x Guaranteed Yearly Cashback, on the 20th policy anniversary and every 10 years thereafter, serving as a reward for long-term policyholders.

Policy Continuity Assurance

The plan allows for the assignment of a secondary life insured, ensuring that the beneficiary continues to enjoy yearly cashbacks after the demise of the primary life insured.

Guaranteed Capital

i-CashLife provides an immediate 100% guarantee on Total Yearly Premiums paid after the premium payment term, offering financial security.

Flexible Premium Payment Terms

As the insurer understands individual financial capabilities vary, hence offers a choice of 5 or 10-year premium payment terms to fit different financial situations.

Coverage While Saving

The plan ensures peace of mind for policyholders, providing a lump-sum benefit to the family in the event of premature death, thereby offering protection alongside savings.

Simple and Swift Application Process

Starting a savings journey with i-CashLife is easy and quick as no medical underwriting is required, making the application process straightforward and efficient.

Cashback and Dividend Payout Details

Term	Description
Premium Payment Term	10 years
Minimum Yearly Premium	S$21,000
Guaranteed Yearly Cashback (GYC)	1% of Total Yearly Premiums (TYP)
Non-Guaranteed Yearly Cash Dividend (IIRR 4.25% p.a.)	2.95% of TYP
Total Yearly Cashback (IIRR 4.25% p.a.)	GYC + Non-Guaranteed Yearly Cash Dividend
Non-Guaranteed Yearly Cash Dividend (IIRR 3.00% p.a.)	1.48% of TYP
Total Yearly Cashback (IIRR 3.00% p.a.)	GYC + Non-Guaranteed Yearly Cash Dividend
Interest Rate Guarantee	No, subject to change with 30 days’ written notice
Definition of TYP	Sum of all yearly premiums paid for the basic plan on an annual payment mode, regardless of the actual premium payment mode (excludes interest paid for loans and policy reinstatement, if applicable)

Note:

• IIRR stands for Illustrated Investment Rate of Return.
• TYP stands for Total Yearly Premiums.

Source: China Taiping

How the China Taiping i-CashLife Works: Scenario 1

Breakdown Of Scenario 1

	Based on IIRR of 4.25% p.a.. For an IIRR of 3.00% p.a.
Yearly Cashbacks	S$3,262
Available Cash Value	S$159,576
Total Cashback Received	S$205,388
Total Maturity Benefit	S$176,260
Total Payout	S$381,648
Total Payout / Total Yearly Premiums	254%

Note: IIRR stands for Illustrated Investment Rate of Return.

source: China Taiping

How the China Taiping i-CashLife Works: Scenario 2

Breakdown Of Scenario 2

	Based on IIRR of 4.25% p.a.. For an IIRR of 3.00% p.a.
Yearly Cashback	S$1,215
Total Cashbacks Received by Jenny over 13 Years	S$15,795
Total Cashbacks Received by Anna over 62 Years	S$79,695
Available Cash Value	S$61,663
Death Benefit	S$66,392
Total Cashback Received	S$95,490
Total Maturity Benefit	S$73,438
Total Payout	S$168,928
Total Payout / Total Yearly Premiums	282%

Note: IIRR stands for Illustrated Investment Rate of Return.

source: China Taiping

China Taiping i-CashLife is Suitable if You:

• Are looking for regular stream of income and a lump sum maturity benefit to spend as one wishes or to provide as a gift to loved ones
• Are parents who would like to secure a series of income for their young children
• Are parents who want to prepare for children’s education while they are young, and a savings or even retirement when your children gets older.
• Prefer a short premium commitment
• Prefer no medical underwriting upon application.

 It would however be less suitable if you would like:

• High protection
• Early Critical Illness and Critical Illness coverage
• One-time premium commitment

Choosing the right financial product to secure your future can be challenging, and the decision should not be made lightly. China Taiping’s i-CashLife offers a unique blend of savings, income, and coverage to fit different financial needs and goals. It provides a steady stream of cashbacks, flexible premium payment terms, and a simple application process, making it an appealing choice for anyone planning their financial future. However, each person’s financial situation is unique, and it is crucial to consider all aspects of your financial needs before making a decision. Contact our experienced financial advisor today to plan your financial future.

We hope this in-depth analysis helps you in understanding the pros and cons of China Taiping’s i-CashLife and also in helping you decide if it meets your savings objectives. All savings plans have their own advantages and disadvantages and it is recommended that you choose one that is within your objectives and liquidity needs to ensure you get the best possible value.

Connect with our dedicated financial advisor to find out how China Taiping’s i-CashLife can help you reach your financial goals. From planning for retirement to saving for your children’s education, we’re here to guide you every step of the way. Get in touch with us today!

Fill in the form below and our friendly licensed FA advisor will get in touch with you based on your needs.

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