Best Short-Term Savings Plans in Singapore: China Taiping i-Wealth Builder VS NTUC Income Gro Goal Saver

Best Short-Term Savings Plans in Singapore, China Taiping i-Wealth Builder, NTUC Income Gro Goal Saver
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Last Updated on by Tree of Wealth

For those who want to enjoy some of the benefits of an insurance plan but don’t want to be stuck paying premium for a long time, short-term savings plan might be the ideal option. In this article, we’ll be exploring two such savings plan: China Taiping i-Wealth Builder and NTUC Income Gro Goal Saver to help you understand the trade-offs for each.

By short term, 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. NTUC Income’s Gro Goal Saver however, is a 3 year premium term and a total of 10 years to maturity. There is no cash benefit for this.

Product Information

China Taiping i-Wealth builder is one of the shortest savings plans in Singapore, with a premium term of just two years. Its shorter premium term along with its comparatively high reinvestment rate and yearly cashback option makes it an attractive option. On the other hand, while NTUC Income’s Gro Goal Saver has a slightly higher premium term of 3 years, it offers premiums that’re 5% cheaper than China-Taiping’s. Moreover, it has a longer policy term and a higher sum assured and higher maturity amount guaranteed. Both plans offer comparable death benefits. It might be wise to keep in mind that NTUC Income, because of its higher premium term, is almost 50% more expensive than China-Taiping. In this regard, choosing the right plan depends on your objectives and needs.

If you don’t want to spend a lot on premiums and would like some flexibility for your cash, then China-Taiping’s i-Wealth builder might be right for you. On the other hand, if you don’t mind spending a bit more on premiums in exchange for higher benefits in the form of higher guaranteed amount, then NTUC Income could be ideal.

Comparison Table

Another thing to note about China-Taiping i-Wealth builder option is that it offers a yearly guaranteed cash back of 8% of the basic sum assured for the 6 remaining years of the policy term, which in this case is S$1040. You can choose to use the withdrawn amount for meeting your expenses or reinvest it back to the plan to avail higher returns upon maturity. To better illustrate the tradeoffs of each option, we have made the following table for you to compare returns:


i-Wealth Builder

NTUC Income

Gro Goal Saver

Premium term 2 3
Policy term 8 10
Premium amount (annually) $10, 606.35 $10, 111.00
Total premium paid $21, 212.7 $30, 333
Special feature None Cancer Premium Waiver
Death benefit 105% of net premium 105% of net premium
Total mature amount – guaranteed $21, 840 $31, 528
Total mature amount – non

Guaranteed (at 4.75%)

$26, 940 $39, 912
Reinvestment rate 3.5% 3.25%

Pros & Cons

China Taiping i-Wealth Builder


  1. Shorter premium term makes this plan cheaper overall
  2. Shorter policy term
  3. Comparatively higher reinvestment rate
  4. Cash back option


  1. Smaller maturity amount guaranteed and non-guaranteed
  2. Doesn’t offer any riders or special features
  3. More expensive annual premiums

NTUC Income Gro Goal Saver


  1. Gives the additional rider of cancer premium waiver
  2. Higher guaranteed and non-guaranteed maturity amount
  3. Cheaper annual premiums


  1. No cash back option
  2. Longer premium term makes it more expensive overall
  3. Longer policy term

Conclusion For China Taiping i-Wealth Builder VS NTUC Income Gro Goal Saver

We hope the analysis helps you in understanding the pros and cons of these 2 of the shortest savings plans in the market so that you can decide if any of these options meet your savings objectives. All savings plans have their own advantages and disadvantages. We recommend that all individuals choose their savings plans keeping in mind their objectives and liquidity needs to ensure they get the best possible value.

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