Best Short & Long Term Endowment Plans in Singapore (2025)

Traditionally, endowment plans are a savings/insurance hybrid product, typically recommended as a way to save for your child’s education, your retirement, or some other fixed milestone. Recently, there has been a new crop of short-term endowment plans. Instead of taking a decade or more to reach maturity, these endowment plans mature in just two to six years.

Here's a look at the different types of endowment plans available.

NEW: Singtel Growth Assure II (Tranche Now Open) 

Endowment plan	Min. single premium	Policy term	Returns
Singtel Growth Assure II	S$10,000	1 year	Up to 7.38% p.a. guaranteed - 2.26% p.a. guaranteed - Additional 5.12% p.a. guaranteed with purchase of eligible insurance plan

Singtel Growth Assure II (SGA II) is a one-year endowment plan offering up to 7.38% p.a. guaranteed maturity returns. That’s a wonderfully high return, and all you have to do is to hold the plan to maturity in 12 short months. During the investment term, you’ll have a death benefit at 101% of premiums paid. 

But hold up – why is our most established telco selling endowment plans now?

Here’s the deal. Singtel is promoting this endowment plan on behalf of its partner, Etiqa, albeit under its own branding. The endowment plan, benefits and returns are all underwritten by Etiqa.

Ok, but what about the high returns of up to 7.38% p.a.? Well, it turns out you can only get that return if you also subscribe to an eligible insurance plan. And, the 7.38% p.a. rate only applies on the amount in your endowment plan that matches the annualised premium of the paired insurance plan. 

(Annualised premium means the total net premiums paid in the first policy year of an Eligible Insurance Plan, including any attached cash-paying riders.)

Here’s an example to illustrate how it works:

John wishes to invest in SGA II with a sum of S$20,000

Because he wants to earn 7.38% p.a. on SGA II, he decides to purchase an eligible life insurance plan

This life insurance plan has an annualised premium of S$15,000

As such, this is how much returns John will receive from SGA II

7.38% p.a. on S$15,000

2.26% p.a. on S$5,000

Now that that’s clear, is SGA II a good choice for those seeking short-term investments?

Well, it depends. If you’re in the market for a long-term insurance plan (whether for protection or wealth-building purposes), and can find a suitable option among the eligible insurance plans under SGA II, this would be a great option to lock in some quick returns in a mere 12 months. The sign-up cashback (S$388, or S$788, depending on your annualised premium amount) also doesn't hurt. 

On the other hand, if you’re simply looking for a short-term investment to hedge against market volatility in the near term, and are not ready for a long-term financial commitment of a life insurance plan, then you should evaluate SGA II’s returns at 2.26% p.a. 

While this is admittedly a rather big difference from the headline rate of 7.38% p.a., remember that you only need to invest for 1 year. That said, there are other options such as fixed deposits that offer superior returns (although without the death benefit). 

Minimum premium: S$10,000. 

Policy term: One year. During this term, you are insured 101% of the premium in the event of your death. 

Maturity benefit: Guaranteed 7.38% p.a with eligible insurance plan, or guaranteed 2.26% p.a. without 

Current tranche: The current tranche is open till 31 Jan 2025, or until fully subscribed

Back by popular demand: Re-launch of GREAT SP [Tranche Now Open]

Endowment plan	Min. single premium	Policy term	Returns
GREAT SP	S$10,000	2 years	2.60% p.a.* (guaranteed) *Please refer to Great Eastern’s website or application page for the up-to-date rate.

If you’re looking for a place to grow your cash after setting aside your emergency savings, consider Great Eastern’s GREAT SP | Guaranteed Returns endowment plan.

The single premium plan offers guaranteed returns of 2.60%* per annum upon maturity, with a short-term commitment of 2 years. With the stunning rate of return, there's a good chance that the next time you read this, it's fully subscribed! 

With some careful planning, this plan can help keep you on track for your 2025 money goals, or even accelerate your progress.

GREAT SP also provides coverage against Death and Total and Permanent Disability. A medical examination is not required.

Minimum premium: S$10,000 is the minimum investment for this endowment plan.

Policy term: Two years. It has a Death and Total And Permanent Disability benefit of 105% of the premium, whichever is higher, less any indebtedness under the policy. 

Maturity benefit: GREAT SP is a non-participating endowment plan that offers guaranteed returns of 2.60%* p.a. upon maturity.

Current tranche: The current tranche is now open. Head over to Great Eastern's website to apply.

Best short-term endowment plans

Endowment plan	Min. single premium	Policy term	Returns
Singtel Growth Assure II (Tranche now open)	S$10,000	1 year	Up to 7.38% p.a. guaranteed 2.26% p.a. guaranteed Additional 5.12% p.a. guaranteed with purchase of eligible insurance plan
Re-launch of GREAT SP  (Tranche now open)	S$10,000	2 years	2.60% p.a.* (guaranteed) *Please refer to Great Eastern’s website or application page for the up-to-date rate.
Tiq 3-Year Endowment Plan (Tranche Closed)	S$5,000	3 years	Up to 4.8% p.a. (guaranteed) 3.4% p.a. (guaranteed) Additional 1.4% if you get an eligible Tiq Insurance Plan
HSBC Life Online Endowment (Tranche closed)	S$10,000	3 years	3.90% p.a. (guaranteed)
NTUC Income Gro Capital Ease (Tranche closed)	S$10,000	3 years	3.55% p.a. (guaranteed)
Manulife Goal 12 (Tranche closed)	S$10,000	2 years	5.07% (guaranteed upon maturity)
AIA #Wealth Savvy (Tranche closed)	S$5,000	3 years	3.0% p.a. (guaranteed)

What is a short-term endowment plan?

In light of low bank interest rates, even newbies to finance are getting curious about short-term endowment products. With decent returns, short commitment periods and simple mechanics, short-term endowment plans are indeed a viable alternative to savings accounts or fixed deposits.

Although provided by insurers, endowment plans are fundamentally savings plans to help you hit a target amount at a later date (e.g. your nest egg). After paying the premium, wait for the funds to mature and cash out a larger sum than you’ve put in. 

Sounds simple enough, but the terminology around endowment plans can be confusing to those new to insurance. Let’s break them down.

Premium: This is the amount you pay for (put into) your endowment plan. It can either be a single premium (one-time lump sum payment) or staggered over several months or years. Single premiums are typical of short-term endowment plans. 

Policy term: The time it takes for the endowment plan to mature. Conventional plans can stretch over 10 years, 15 years, 20 years or even up to a fixed age (e.g. 75 years old). But short-term endowment plans have a maturity period of two to six years. Note that you may not get the guaranteed returns or even your capital if you terminate your endowment plan early.

Capital guaranteed upon maturity: Some endowment plans are ‘capital guaranteed’ upon maturity. This means that, when you reach the end of the policy term, you will definitely get back at least the money you initially put in. However, there is no such guarantee if you terminate your plan before the end of the policy term.

Maturity benefit: Expressed as an annual percentage (e.g. 2% p.a.), this is how much return you will get on your initial investment upon the end of the term. Some endowment plans have only guaranteed returns, while other types may break down the returns into guaranteed and non-guaranteed components. 

Participating or non-participating: Endowment plans typically involve the insurer putting your premiums into a ‘participating’ fund, akin to an investment done on your behalf (although you do not get to select the investment portfolio). If the fund performs well, a participating policy allows you to get a share of the profits (the non-guaranteed return), whereas you do not get anything above the guaranteed return for a non-participating policy.

Insurance coverage: A small portion of the money you put into an endowment plan goes into insurance coverage. For short-term endowment plans, this is quite minimal. For example, you might get insured 101% or 105% of the premium paid in the case of death or total permanent disability.

Tranches: Endowment plans, especially short-term and/or single premium plans, are not available forever. They are instead issued in ‘tranches’, similar to Singapore Savings Bonds issues. Each tranche contains a limited number of policies. Tranches with attractive returns close quickly, and you’ll have to wait for the next if you miss it.

Should you get a short-term endowment plan?

Endowment plans can be attractive short term alternatives to savings accounts, fixed deposits and even Singapore Savings Bonds (SSBs).

In today’s climate, the options for growing your money risk-free are extremely limited. With endowment plans, your capital is guaranteed, the returns beat that of banks, and you also get a little bit of insurance coverage as a bonus.

But, however short the policy term, an endowment plan is still a commitment. Only park cash that you absolutely will not need in the next two or three years here. Should you need to terminate your policy early, you may lose money. 

There are also trade-offs to locking up your funds. If interest rates were to rise within the next few years, you might not be able to take advantage of a good savings or fixed deposit promotion since your cash is parked in the endowment plan.

Best short-term endowment plans in Singapore

If you have a lump sum of money you wish to grow in the short term, but do not want to take on the risk of investing it, here are four short-term endowment plans to consider.

Tiq 3-Year Endowment Plan [Tranche Closed]

Looking for an easy way to save and earn more interest?

With guaranteed maturity returns of 3.4% p.a., Tiq's 3-Year Endowment Plan is a single premium, non-participating life insurance savings plan that anyone between the ages of 17 and 70 (age next birthday) can purchase regardless of their health condition. 

If you purchase an eligible Tiq Insurance Plan, you'll also be able to enjoy an additional 1.4% p.a., allowing you to earn up to 4.8% p.a. guaranteed returns.

The best part? There is no limit to how many policies you can purchase. The Tiq 3-Year Endowment Plan is available to Singapore residents (NRIC/FIN) and foreigners with a work permit/employment pass/social pass.

Minimum premium: S$5,000. You can make payment online via your DBS/POSB bank account, PayNow QR or FAST transfer via PayLater.

Policy term: Three years. During this term, you are insured 101% of the premium in the event of your death. 

Maturity benefit: With a guaranteed return of up to 10.5% p.a. (rounded to nearest decimal place) after three years (based on the guaranteed yield at maturity of 3.4% p.a), it's a pretty attractive guaranteed return in the short-term endowment plan crowd. In case you’re curious, the maximum premium size is S$1,000,000. 

Current tranche: The current tranche is currently closed. 

HSBC Life Online Endowment [Tranche Closed]

Planning ahead for your child's education? Or perhaps you're considering a property purchase or renovation in the next couple of years. The HSBC Life Online Endowment offers guaranteed returns to uplift your savings, ensuring you're on track with your short-term financial goals.

Minimum premium: S$10,000. You can login with your SingPass to submit your application and make a cash payment via PayNow QR.

Policy term: Three years. During this term, you are covered for death or terminal illness of 110% of the Single Premium.

Maturity benefit: You will enjoy a guaranteed maturity benefit with a guaranteed yield of 3.9% p.a. at the end of the three years.

Assuming you apply for the maximum single premium of S$100,000, you will be able to receive a lump sum of S$112,162 at the end of three years.

Current tranche: The current tranche is now closed. Visit HSBC Life for updates. 

NTUC Income Gro Capital Ease [Tranche Closed]

If you need help saving some cash for a large purchase like a house or a car in the near future, the NTUC Income Gro Capital Ease offers guaranteed returns.

Minimum premium: S$10,000. You can make a cash payment via PayNow QR, e-GIRO (for DBS/POSB customers only) or use your SRS funds.

Policy term: Three years. During this term, you are covered for death or total permanent disability (TPD) during this time.

Maturity benefit: With a guaranteed yield at maturity of 3.55% p.a. at the end of the three years, you will enjoy a guaranteed maturity benefit of 111.03% of the single premium.

Assuming you apply for the maximum single premium of S$200,000, you will be able to receive a lump sum of S$222,060 at the end of three years.

Current tranche: The current tranche is closed. Visit NTUC Income for the latest updates.

Manulife Goal 12 [Tranche Closed]

Manulife Goal 12 is a short-term endowment plan is ideal for those seeking a short commitment period of just two years.

Minimum premium: Single premium of S$10,000, payable via cash or SRS.

Policy term: Two years. During this term, you are insured 101% of the premium in the event of your death.

Maturity benefit: Apart from the guaranteed 5.07% return upon maturity, you may also enjoy a potential maturity bonus of 0.61% of your single premium.

For example, if you bought a S$10,000 policy, you can cash out up to S$10,507 with a non-guaranteed maturity bonus of $61 upon maturity of your endowment plan, bringing your potential total maturity value to S$10,568.

Current tranche: This Manulife endowment plan is now closed. 

AIA Wealth Savvy [Tranche Closed]

AIA Wealth Savvy is an endowment plan that provides guaranteed returns of 3% p.a. in 3 years.

Interest rate: 3% p.a. *guaranteed interest

Premium term: Single premium

Policy term: 3 years

Withdrawal/payouts: The endowment ends in 3 years, after which you will receive 100% of your capital plus returns earned

Minimum investment: S$5,000, up to a cap of S$30,000 per transaction. Apply online with cash or Supplementary Retirement Scheme (SRS).

*Guaranteed returns and capital guaranteed are only applicable if the policy is held to maturity. A surrender charge will be applicable, and the surrender value payable will be less than total premiums paid in the event of early termination before maturity.

What this plan is good for: One of the most accessible plans with a fairly affordable investment starting point of S$5,000, the AIA Wealth Savvy endowment offers a high guaranteed return of up to 3% p.a. upon maturity.

Another plus point is the possibility of earning up to 4.25% p.a. when you purchase any qualifying plan) under AIA #Wealth Savvy Bundle Campaign (2.0) 2022 on or before 30 November 2022. Your guaranteed returns for AIA #Wealth Savvy will be boosted to 4.25% p.a. at the end of year 3.

You can also get this plan without having to undergo any medical examinations. All online applications for the basic plan will be accepted.

Lastly, this policy features coverage against death. Your family will receive an additional 10% payout of the insured amount on top of the death benefit should an accidental death happen in the first policy year. The death benefit is the higher of the insured amount (the single premium paid at the policy inception) or the cash value.

The tranche is now closed.

Best mid/long-term endowment plans

Endowment plan	Premium term	Policy term	Returns (per annum)	Capital guaranteed (upon maturity)?
Singlife Choice Saver	5, 10, 12, 15, 18, 20 or 25 years	10 to 25 years or cover up to 99 years	- Up to 4.25% p.a. non-guaranteed returns - Lump sum payout made up of your Sum Assured and non-guaranteed bonuses when the policy term ends - Lump sum payout for death, Terminal Illness or accidental death - Flexibility to change Life Assured of policy to meet your needs - Receive up to 12 months’ interest waiver for unpaid premiums if unemployed	Yes
GREAT Prime Rewards 3	Single premium	15 or 20 years	- Receive total annual income of up to 1.47x of the single premium (non-guaranteed). - Accumulate the annual income at a non-guaranteed interest rate of 2.50% p.a. and receive up to 1.75x of the single premium (non-guaranteed)	Yes, from the end of the 5th policy year
Tokio Marine Nest Egg (GIO Cashback)	5, 10, 15 or 20 years	10, 15, 20 or 25 years	- Up to 3.8% p.a. non-guaranteed returns - Enjoy guaranteed yearly payouts from the 2nd policy anniversary for either 8 or 10 years - Flexibility to withdraw yearly cash benefit or reinvest to earn interest	Yes

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What you need to know about mid/ long-term endowment plans

• Regular premiums: You contribute regular premiums towards the endowment plan for the entire premium term. 

• Interest rates/returns: Interest rates are an indication of how much you can expect at the end of the policy term. However, the returns are not guaranteed and this means that the actual benefits payable will vary based on the market conditions and future performance of the participating fund.

• Long term commitment: Unlike short-term endowment plans that mature in two to three years, long-term endowment plans can have a policy term that ranges between 10 to 25 years.

• Early termination: Terminating the policy before it matures could be costly as the surrender value, if any, could be zero or less than the total premiums paid.

Should you get a mid to long-term endowment plan?

A long-term endowment plan can be an option for those that are looking to set aside money for their child’s education, or to prepare for their retirement. These endowment plans are also great for those that require discipline to help them save money for the future. 

However, do keep in mind that long-term endowment plans require years of commitment, regularly paying the premiums for the entire premium term. You could lose some of your capital should you choose to terminate the policy before maturity. 

As an alternative way to grow your wealth, you can also consider starting your investment journey with a regular savings plan, or using one of the many robo-advisors in Singapore.

Best mid/long-term endowment plans in Singapore

Here’s a look at five of the best mid/long-term endowment plans available. 

Singlife Choice Saver

With seven premium payment terms to choose from, Singlife Choice Saver offers great flexibility to reach your goals while guaranteeing 100% of your capital if you hold the policy till maturity.

• Interest rate: Up to 4.25% p.a. non-guaranteed returns 

• Premium term: 5, 10, 12, 15, 18, 20 or 25 years

• Policy term: 10 to 25 years, or cover to 99 years old

• Withdrawal/payouts: Get 100% capital guaranteed when you hold the plan till maturity, with no early cash withdrawal option.

What this plan is good for: This plan offers a wide range of premium and policy terms as reflected above. It also guarantees that your capital will be returned 100% in the form of a lump sum payout when you hold the policy till maturity.

You also stand to earn potential bonuses upon maturity, though this is not guaranteed. Application for this policy does not require medical check-ups. 

You can also choose from a range of add-on riders to have a savings plan that also protects you against critical illness and more. What's also unique to this plan is the option to change the Life Assured of the policy to suit you or your family's needs. 

What are the downsides to this plan: The maturity bonuses are not guaranteed and there is no option for you to withdraw the cash early. 

GREAT Prime Rewards 3

For those who are planning to receive additional income for retirement, the Great Eastern GREAT Prime Rewards 3 is an attractive option.

In additional to the annual payout, which starts at the end of Policy Year 1, 4 or 6 depending on which plan you select, this endowment plan also pays a lump-sum benefit upon completion of the policy term, death, terminal illness, or total and permanent disability. You can choose either cash or your CPF Supplementary Retirement Scheme (SRS) funds to purchase the policy.

Premium term: Single premium

Policy term: 15 or 20 years

Accumulation period: You can choose to accumulate your annual payouts at the prevailing interest rate and withdraw the accumulated payouts anytime.

If you did not withdraw the accumulated annual payouts during the policy term, these accumulated payouts will be paid out as a lump sum when the policy matures.

Annual payout period/term: 10 15, 17 or 20 years

What this plan is good for: Retirement income. This plan offers guaranteed payouts each year and you can choose from four payout terms – 10, 15, 17, or 20 years. Your capital is guaranteed after 5 years, and you can choose to accumulate your annual payouts at the prevailing interest rate and withdraw the accumulated payouts anytime.

These payouts will be provided annually, and may be used for a variety of your needs, such as to supplement your income or your retirement funds.

What are the downsides to this plan: It does not cover pre-existing conditions, critical illnesses, and hospitalisation. The cost of entry is on the slightly higher side, starting from S$10,000. Returns are not guaranteed and may change according to market conditions.

Tokio Marine Nest Egg (GIO Cashback)

The Tokio Marine Nest Egg (GIO Cashback) is an endowment plan that offers guaranteed acceptance and guaranteed capital if held to maturity.

• Interest rate: Up to 3.8% p.a. non-guaranteed returns

• Premium term: 5, 10, 15 or 20 years

• Policy term: 10, 15, 20 or 25 years

• Withdrawal/payouts: Flexibility to withdraw the guaranteed yearly payouts from the second policy year for either eight or 10 years, or reinvest to earn interest. You also enjoy 100% capital guaranteed when you hold the plan till maturity.

What this plan is good for: This plan offers a wide range of premium payment terms, including a short five-year premium term. While providing guaranteed yearly cash benefits from the second policy year, it also provides some form of liquidity, giving you the option to withdraw this yearly cash benefit or reinvest it to earn interest. 

Your capital is also guaranteed upon policy maturity, ensuring that every dollar you contribute as premiums will be returned. You will also be able to purchase this plan without requiring any medical underwriting.

Lastly, this plan features coverage against death. In the event that this occurs, a lump sum of 105% of the total annual premiums paid, accumulated reversionary bonuses, and any accumulated guaranteed yearly cash benefits plus interest will be paid out.

What are the downsides to this plan: Addition of riders such as Cancer Waiver Rider or (Enhanced) Payer Benefit Rider may require you to undergo full underwriting.

If you are looking for cancer insurance, you can also check out these best cancer insurance plans in Singapore. 

Disclaimer: Protected up to specified limits by SDIC. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore.