Anonymous

09 Jun 2022

∙

Hi. The Guaranteed Surrender Value of my endowment plan is 100%. Does that mean even if the insurance company go bust, i will get my principal back?

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Tan Choong Hwee

10 Jun 2022

Solutions Specialist at Providend

100% guaranteed surrender value simply means capital guaranteed.

When the insurance company goes bust, it is handled under the SDIC PPF Scheme:

https://www.sdic.org.sg/public/pp_overview

Whether you get back your principal is subjected to SDIC PPF entitlement:

https://www.sdic.org.sg/calc/pop_calc

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How does the insurance company get the return on the endowment plans to be steady and guaranteed? Is this like a bond?

Does Raffles Health insurance shield plans only cover hospitalization claims for Raffles Medical? Can I get this plan even if I don't go to raffles medical in case I get hospitalized?

Wise to minimize losses of 8+ k in Year 2 by surrendering GE endowment plan? already paid 20k x 2 =40k, surrender value less than 32k .non guaranteed interest dive way below illustrated 3.25% in 10y?

Since Singapore Savings Bonds (SSB) is backed by the government, does it mean that it is 100% capital guaranteed even in financial crisis?

My existing insurance plan seems to be giving poor premium to coverage ratio, should i consider surrendering the policy to encash and get another policy of better value?