Etiqa Insurance launches a second online savings plan with up to 4.02% return p.a. following MAS guidelines on online and direct distribution of life policies

SINGAPORE - Media OutReach - 11 August 2017 - After premiering the first in market online savings plan earlier in April, Insurance arm of Maybank Group Etiqa Insurance launches a second insurance savings plan, eEASY savepro, featuring an attractive projected return of up to 4.02% per annum -- the highest return for direct insurance solutions offered by the insurer till date.

The plan is part of the EASY save series, which is designed to specifically tailor to the customer's appetite, savings horizon and aspirations. Customers can choose a participating or non-participating plan, premium size, premium term and policy term based on their preferences, as further elaborated in the appendix below.

"With the EASY save series, Etiqa is able to extend a more attractive projected return of up to 4.02% per annum at 100% capital guarantee upon maturity, to better meet our customers' savings aspirations. This is only possible by adopting the direct and online business model which turns commission fees, a standard offline distribution cost, into better returns for customers," said Ms. Shirley Tan, Head of Customer Experience & Propositions of Etiqa Insurance Pte. Ltd..

In addition to capital guarantee on premiums, customers who purchase any plan from the EASY save series can also benefit from complimentary Accidental Death Protection Booster, which provides extra accidental death protection at 100% of total premium paid. Etiqa believes that at the heart of every savings aspiration, personal protection against obligations in unforeseen circumstances is of utmost importance to the customer. This additional benefit supports the insurer's passion to humanise insurance, and place people over policies. Etiqa continues to live up to its brand promise by providing accessibility and convenience for customers. This is done through an online chat solution which is available 24/7, allowing customers to reach customer service providers whenever they have queries or require assistance.

"Our progressive launches of ground-breaking insurance solutions and services demonstrate our commitment to lead in the advancement of customer- and digital-first experiences. A stellar example will be the EASY save series. Etiqa has anticipated the regulatory change to permit the online and direct distribution of life policies, and developed innovative and direct insurance savings solutions quickly. The market has also responded favourably with our earlier launch of eEASY save, which to date has been purchased by more than 100 customers," Ms. Tan added.

The EASY save series can be purchased online in five simple steps, with an initial payment of just $1. The transparent purchase process also comes with immediate approval upon purchase. Please visit our website to learn more.

Appendix: Product Summary of EASY save series

Participating policies are insurance policies which provide both guaranteed and non-guaranteed benefits (e.g. in the form of bonuses).  Non-participating policies are insurance policies which provides guaranteed benefits only. For more information about life insurance participating products, please refer to the consumer guide "Your Guide To Participating Policies" on Etiqa's website or LIA's website (www.etiqa.com.sg or www.lia.org.sg)

Etiqa Insurance -- A Singapore Insurance Company with Asian and International Expertise

Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS). In July 2017, Fitch affirmed the company's "A-" rating for its financial strength and stable outlook.  

Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since 2009. In August 2014, we added a comprehensive suite of life insurance solutions to our stable of products.

Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, one of Asia's leading banking groups with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years, with a focus to provide world class insurance solutions to consumers in Europe and Asia through market leading joint ventures.

At Etiqa, we believe in our brand promise of humanising insurance, by placing people over policies in everything we do. We are passionate about helping Singaporeans protect themselves and their loved ones today and helping them plan for a financially secure tomorrow.