SINGAPORE - MediaOutReach - 26 November 2018 - EtiqaInsurance announced the launch of ELASTIQ, a first-of-its-kind onlineuniversal life (UL) insurance plan in Singapore, which promises flexibility andsecurity for financial-savvy individuals. In addition to life coverage,ELASTIQ  by Etiqa offers a high guaranteedcrediting rate of 2.02% p.a. in the first 3 years, and a short 90-day lock-inperiod, after which customers enjoy the flexibility to top-up or withdraw theirfunds without any penalty charges or interest clawback.

Amid positive forecast of UL growth in Asia,ELASTIQ seeks to fill the gaps of an effective UL plan designed to cater to thepublic, especially millennials, which makes up for one fifth of the populationin Singapore. With a low minimum premium size of an affordable S$5,000, ascompared to typical UL policies where the minimum single premium usually startsat US$100,000, the plan is kept accessible and works like a whole lifeinsurance savings plan.

"Universal Life products are known to be aneffective lower-risk wealth management tool with an element of protection, butit is often targeted at the affluent. With a lower minimum single premium andhigh guaranteed crediting interest rates, we hope that more people from theemerging affluent and mass affluent segments can benefit from ELASTIQ," saidSue Chi Kong, Chief Executive Officer of Etiqa Insurance Singapore.

ELASTIQ offers the best of both worlds bymarrying consumers' need for security with the freedom to top-up or withdrawfunds, as financial objectives and circumstances change over time. Customerscan easily manage their finances online such as performing ad-hoc and recurringtop-ups, up to a maximum of S$200,000 in total premiums paid, or make partialwithdrawals after a lock-in period of 90 days without penalty charges. Thisflexibility and minimal lock-in period is a first-of-its-kind feature foruniversal life plans in the market. It also offers a projected non-guaranteedloyalty bonus of 0.3% of the policy's average monthly account value for thepast 36 policy months in every 3 years interval if no partial withdrawal(s) hasbeen made before.

ELASTIQ by Etiqa can be purchased online withease at www.tiq.com.sgvia immediate DBS/POSB Direct Debit Authorisation (DDA) service. Availabilityis limited. For more information, please visit https://po.st/YUdeJ7.

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

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

Etiqa has been protecting Singaporeans since 1961 witha range of general insurance solutions that constantly evolve to meet theirever-changing needs. As the appointed insurer for the Housing Development Board(HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since2009. In August 2014, we added a comprehensive suite of life insurancesolutions to our stable of products.

At Etiqa, we believe in our brand promise ofhumanising insurance, by placing people over policies in everything we do. Weare passionate about helping Singaporeans protect themselves and their lovedones today and helping them plan for a financially secure tomorrow.