This is a quick public service announcement.
NTUC are issuing another tranche of these very popular high return for short duration insurance savings plan.
Typically, from what I understand, these plans do not net the commission based advisers much commission. Usually, these are very attractive to those who are not easily swayed.
As they get you on this plan, they have your contact. The real selling happens after the end of the tenure of these insurance savings plans.
But if you are a very well inform and savvy reader of Investment Moats, this might be for you.
The Capital Plus (C2N2) Plan
This is a 3-year non-participating, single premium endowment policy that provides:
- a guaranteed return of 2.30% p.a.
- Up to 105% of death and TPD benefits (before age 70)
- Minimum single premium: $20,000
This plan is suitable for those who wants:
- Short term saving plan of 3 years
- Guaranteed returns
- Capital guaranteed upon maturity
- Higher return than bank deposits and Singapore saving bonds (for 3 years)
- Hassle-free application with no medical check-up required
They plan to sell these plan until it is fully subscribed. So I am not sure if I am too late in telling you this.
Where can you get this?
You can get them from MoneyOwl, which is a non-commission bionic financial advisory firm. They are probably the last folks that will proposition you the lousy things after this 3 year ends.
To buy this, contact them, tell them you want to buy the NTUC Capital Plus. Ask if it is still available.
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Wednesday 28th of August 2019
Very fairly written article to point out that in order to get this, you have to go through agent. If you are a new client, agent will want to go through some sort of financial health checklist with you to find out what much money you have and other financial info. Such disclosure is actually optional but most people don't realise it and give the info out anyway. I also got a mailer asking me to contact so and so if I'm interested, but not my regular agent.
For 0.05% less, you can go for Singlife and apply online for their 2.25% 3-year plan and pay by FAST transfer. You never need to see an agent and I have never received any marketing calls or e-mail from them yet.