Singapore Endowment Saving Insurance
Endowment / Saving Insurance
What is Endowment Insurance (EI)?
Endowment Insurance provides insurance protection and is generally used for saving purposes. Although the premiums are higher than whole life and term policies, you can choose an endowment plan which participates in the profits of the insurer or those that do not. singapore endowment saving insurance
A "with profits" plan lets you share the profits of the company. The profits are normally added to the policy annually, as a bonus. Once this has happened, the bonus cannot be taken away, but bonus rates may change each year. The "without profits" policy does not share in profits made by the insurance company. You get the basic sum insured only. The more common type of endowment and whole life plans in Singapore is "with profits" policy.
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buying endowment saving insurance is a long term commitment. Singapore life insurance association. userful links
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