5 Best Endowment Insurance Savings Plans in Singapore (2024 Comparison)

…Compare and Save Precious Time & Money

1179+ Singaporeans have benefitted from our comparisons

best endowment insurance savings plans singapore comparison
  • Avoid multiple agents yet be able to compare across 18 insurance companies​
  • ​Our DeepDive™ provides an in-depth comparison of the best endowment insurance savings plans in Singapore
  • Tailored to your specific needs with personalised quotes and premiums
  • Discipline yourself to save right now for a brighter future

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The Purpose of an Endowment Savings Plan

An endowment plan is basically a vehicle for you to save money in (rather than leaving it in the bank account with low interest).

Basically, you set aside a fixed amount of cash regularly for a fixed amount of time.

And once the plan matures, you’re able to potentially get a much greater amount than what you’ve saved.

how endowment plans work

The endowment plan disciplines you to save money, so that in the future, you can be assured that there’s a golden nest egg waiting for you and your family.

(If you’re new to endowment insurance and want to know more about it instead, read this guide first.)

Best Endowment Insurance Savings Plans in Singapore (Comparison for 2024)

If you like the idea of an endowment plan, what’s next?

Finding the best one of course!

You’re using your hard-earned money and you’ll definitely want to make the best decision (with no regrets in the future).

But endowment plans come in all shapes and sizes… and one size doesn’t fit all.

The only way to find the best one for you is to do an in-depth comparison across the different plans offered by the different insurance companies.

And that’s what we’re good at.

Here’s a non-exhaustive list of endowment savings plans that we can compare:

Insurance CompanyPlan Name
AIARetirementSaver (IV)
Smart Wealth Builder (II)
Smart Flexi Growth
Smart Flexi Rewards (II)
Singlife with AvivaSinglife ChoiceSaver (previously MyChoiceSaver)
Singlife Flexi Life Income (previously MyLifeIncome III)
Singlife Flexi Retirement (previously MyRetirement Choice III)
Singlife Steadypay Saver (previously MyEasySaver II)
AXASavvySaver (II)
ManulifeSpring (II)
ReadyBuilder (II)
Ready LifeIncome (II)
RetireReady Plus (III)
NTUC IncomeGro Retire Flex
Gro Cash Flex
Gro Saver Flex
Gro Sure Saver
Gro Power Saver

What’s in Our Endowment Savings Plan Comparison DeepDive™

best endowment insurance savings plans singapore comparison

Unlike others, our DeepDive™ gives you the Good and the Bad
So you will be equipped to make better decisions.

What we’ll cover in the comparison:

  • Amount to save regularly
  • Length of the savings term
  • How much you would’ve saved in total
  • Length of the policy
  • Ability to partially draw out
  • Total guaranteed payouts
  • Total non-guaranteed payouts
  • Any secondary benefits
  • Any available discounts or promotions
  • Potential disadvantages
  • Anything else you wish to know…

We spent hours scrutinising policy documents so that you don’t have to.

But, We Do Things Differently

Unlike others, we don’t publish these comparisons online (comparisons from other sites are usually generic in nature, may contain outdated information, and their quotes aren’t specific to your profile and your needs). Also, we don’t send these these personalised comparisons directly to your email.

We do this on an appointment basis (via zoom video call or a meet-up) to first understand your situation before going through the comparison with you. This ensures that we can provide appropriate advice there and then.

It may sound troublesome to you, but hear us out.

3 Reasons Why We Need to Meet

(Either through a zoom video call or a meet-up)

Perhaps you’re here because you were doing research online or came looking for more information when someone – friend or agent – told you about this.

You just want to look at the numbers… you got no time… you don’t want to meet strangers.

So you may thinking, “just email the comparison and quotes to me!

As consumers ourselves, we understand the convenience of that.

But a mere comparison table will not help you make a concrete decision (one that you can set in stone).

Here are 3 reasons why there’s a need to meet:

1) Give Accurate Recommendations

understanding your situation

Can you be absolutely sure of what you want? Could there be something that you may have missed?

A wrong decision might lead to a lifetime of regrets.

If you go to a doctor and without asking you anything, the doctor gives you medicine for this, this and this.

Would you have full confidence in the solution? No.

And that’s why there’s a need to understand your situation first before we give a recommendation – we’re not in the business of pushing products.

2) Requirement of MAS

requirement of MAS

In the Financial Advisers Act, it is stated that in order for a recommendation to be made, information on the client has to be gathered first.

Any inaccurate or incomplete information may affect the suitability of the recommendation.

Over the years, MAS has imposed stricter regulations to ultimately protect Singaporeans (and that includes you).

It is there for a reason and that is to ensure that you don’t end up with an unsuitable plan.

3) Touch on Fine Prints

What’s the purpose of a comparison table?

It’s to present information in an organised and simple way, so that you can make a decision based on it.

But can you really make an informed decision from it?

If you can easily do that, there wouldn’t be a need for two-digit pages of policy documents (for just one plan).

There are fine prints and clauses that might make or break your decision.

And that’s why we meet to not only show you the comparisons but to go through any critical pointers that you must be aware of.

We don’t want to overpromise and underdeliver.

What Singaporeans Are Saying (Reviews & Testimonials)

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We Compare 18 Insurance Companies to Find the Best Endowment Savings Plan for Your Needs

This Is Great if You:

  1. Don’t know which plan is the best
  2. Don’t wish to waste precious time and money going to individual companies for quotes
  3. Don’t wish to tear your hair out looking through product documents

Our Trusted Providers

  • AIA
  • Singlife with Aviva
  • Friends Provident
  • China Life
  • Generali Worldwide
  • China Taiping
  • NTUC Income
  • Manulife
  • LIC
  • Old Mutual
  • Swiss Life
  • HSBC Life
  • AXA
  • Tokio Marine
  • Singlife
  • Transamerica
  • Etiqa
  • FWD

Frequency Asked Questions

What is an endowment insurance savings plan in Singapore?

It is a policy that typically has negligible insurance protection, but it is geared to provide potentially higher returns in the form of guaranteed and non-guaranteed sums.

Are endowment insurance savings plans worth it?

There are many options to invest your money in. Endowment plans are just one of them. They appeal to conservative investors as the plans are often capital-guaranteed upon maturity, and they passively make money work harder. You should speak to a financial consultant first before deciding.

Is this service free?

Yes, there’s no fee involved.

How long does the appointment take?

It typically takes around 45 minutes. However, it can be longer for more complex situations or if you have further questions.

Are there any obligations?

Depending on your situation, we may or may not recommend solutions. If we do, it’s entirely up to you to go ahead with it. As consumers ourselves, we dislike high-pressure tactics.

Should I bring my existing policies?

Yes! If you do have them, do bring them along (or a policy summary) as we can provide more accurate feedback.

How is this appointment conducted?

This can be done over a zoom video call or a meet-up.