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Gideon Ng
26 Jun 2020
Blogger at FI Pharmacist
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Yes, from from day 91 onwards, elastiq is similar to a "bank" account. But i think if your elastiq account value is zero, your policy will be terminated. If you do partial withdrawal, just make sure that there's at least $5k inside if not you'll be charged a $5 service fee monthly.
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Gabriel
20 Jun 2020
Undergraduate at National University of Singapore
Hey Anon, yes it works just like the Singlife Account after the initial and short lock-in of 3 month...
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Hi Anon, Etiqa Elastiq is less liquid compared to SingLife.
You can only withdraw a minimum of $500, or subsequent multiples of $500. So if you earn any interest that does not amount to $500, you can't withdraw the interest.
As JC mentioned, you need to maintain a minimum of $5k inside the account if not there'll be a $5 monthly fee.
If you wish to withdraw everything from the account, you can surrender the policy. However, once you surrender the policy, you may not be able to purchase this policy again.
Also, Etiqa reserves the right to hold your funds for up to 6 months before they transfer it back to you.
If you would like to know more about Etiqa Elastiq, you can check out my in depth review here.