Is Etiqa Elastiq an ILP? - Seedly

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Asked by Anonymous

Asked on 02 Jan 2019

Is Etiqa Elastiq an ILP?


Answers (2)

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You bear the investment risk with an ILP. This is different.

Then what's the difference between traditional wholelife plans and universal life plans? Universal life plans use a transparent "crediting method" whereas for wholelife plans it is opaque because they smooth out returns and guarantee bonuses on a yearly basis.

It does not mean a universal life plan gives superior returns. It all depends on the underlying asset.

Etiqa Elastiq is called a universal life (UL) plan because it does the crediting rate method. It's not focused on protection value so you can see it more of a savings plan.


Lok Yang Teng
Lok Yang Teng
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Top Contributor (Jan)

Level 6. Master
Answered on 02 Jan 2019

" ...first-of-its-kind online universal life (UL) insurance plan in Singapore, ... ELASTIQ  by Etiqa offers a high guaranteed crediting rate of 2.02% p.a. in the first 3 years, and a short 90-day lock-in period, after which customers enjoy the flexibility to top-up or withdraw their funds without any penalty charges or interest clawback". It seems so but the rates aren't that nice.