Best Regular Insurance Endowment Plans in Singapore for 2020

May 9, 2026

Looking to beef up your savings and secure your future in Singapore? Endowment plans have been a popular choice for a while now. They’re basically a way to save money over time with the aim of getting a lump sum back later, often with some interest. Think of it like a savings account, but with a bit more structure and potentially better returns. This article breaks down some of the top regular insurance endowment plans available in Singapore for 2020, helping you figure out which one might be the best fit for your financial goals. We’ll touch on things like how long you pay premiums, when you get your money, and what other benefits might be included, like coverage for unexpected events. We’ve also kept an eye out for plans that offer features like the readypayout plus option, which can be handy.

Key Takeaways

Regular insurance endowment plans offer a structured way to save and grow your money over a set period.
These plans often come with a guaranteed capital component, providing a level of safety for your savings.
Maturity benefits can be used for various goals, such as funding retirement, education, or a down payment.
Some plans include additional benefits like life insurance coverage or critical illness protection.
Consider factors like premium payment terms, policy duration, and potential returns when choosing a plan.

1. AIA Smart Wealth Builder II

AIA’s Smart Wealth Builder II is an endowment plan designed for individuals looking to grow their savings over the medium term. It aims to provide a balance between capital preservation and potential growth, making it a suitable option for those who want their money to work harder than in a traditional savings account.

This plan typically offers a guaranteed principal amount when held to maturity, which is a key feature for risk-averse savers. On top of that, it can also provide non-guaranteed bonuses, which depend on the insurer’s investment performance. These bonuses are added to your principal, helping to increase the overall returns over the policy’s duration.

Key features often include:

Flexible premium payment terms: You might have options for how long you want to pay premiums, such as 10, 15, or 20 years, allowing you to align payments with your financial capacity.
Maturity benefits: Upon reaching the end of the policy term, you receive the guaranteed sum assured plus any accumulated non-guaranteed bonuses.
Death benefit: In the unfortunate event of the policyholder’s death before maturity, a death benefit is paid out, usually the higher of a guaranteed amount or the surrender value plus bonuses.

It’s important to note that endowment plans like this are generally for wealth accumulation rather than immediate protection. While they offer a structured way to save, it’s always a good idea to assess your needs and the different policy types available to ensure it fits your overall financial strategy.

The Smart Wealth Builder II is positioned as a plan for disciplined savers who are looking for a predictable way to grow their funds over a set period. It’s not typically designed for short-term needs due to potential penalties for early withdrawal, but it can be a solid component of a longer-term savings goal.

2. Singlife Choice Saver

Singlife Choice Saver is a regular premium endowment plan that offers a good mix of savings and protection. It’s designed for people who want to grow their money over a set period while also having some insurance coverage. The plan allows for flexible premium payment terms, ranging from 5 to 25 years, and the policy term can extend up to age 99, or a fixed term of 10 to 25 years. This flexibility means you can tailor the plan to fit your financial timeline and goals.

One of the key features is the option for a secondary life insured, which can be useful for families. It also comes with guaranteed issuance, meaning you don’t need to go through medical underwriting, making it easier to get started.

Here’s a quick look at some of its features:

Flexible Premium Terms: Choose from 5, 10, 12, 15, 18, 20, or 25 years.
Policy Term Options: Select a term of 10 to 25 years, or coverage until age 99.
Secondary Life Insured: Option to include another person under the policy.
Guaranteed Issuance: No medical check-ups required.

This plan aims to provide a stable way to build up your savings over time. It’s a solid choice if you’re looking for a straightforward savings vehicle that also offers a safety net.

Singlife Choice Saver can be a good option for those who prefer a structured approach to saving and want to ensure their funds grow steadily. It’s worth comparing with other index funds if you’re looking at different investment avenues, but for a combined savings and protection product, it holds its own.

3. Singlife Flexi Life Income II

Singlife Flexi Life Income II is a plan that aims to give you a steady stream of income, potentially for your entire life. It’s designed to be quite flexible, letting you choose how and when you want to receive your payouts. One of the standout features is its ability to break even relatively quickly, often within 3 to 5 years, which is pretty short for these kinds of plans. This means your initial investment starts working for you sooner rather than later.

This plan offers a couple of ways to manage your money. You can opt to receive yearly cash payouts starting from the third to fifth policy year. These payouts can be useful for covering regular expenses, like dining out or even contributing to your retirement income. Alternatively, you can choose to let these annual payouts accumulate within the plan. This accumulation can lead to higher returns over time, especially if you decide to withdraw your savings later on. The plan guarantees 100% of your principal, which offers a good layer of security for your savings.

Here’s a look at some of the key features:

Flexible Payout Options: You can choose to receive annual cash benefits or let them accumulate for potentially higher future returns.
Lifetime Income: The plan is designed to provide income payouts throughout your life, offering long-term financial security.
Principal Guarantee: Your initial investment is guaranteed, providing peace of mind.
Premium Payment Flexibility: You can opt for a single premium payment or choose from various payment terms, including 3, 5, 10, 15, 20, or 25 years.
Protection: It includes coverage for death and terminal illnesses.

Singlife Flexi Life Income II is positioned as a versatile savings plan that allows for both wealth accumulation and the commencement of income payouts at your chosen time. Its relatively short break-even period and guaranteed principal make it an attractive option for those seeking a balance between security and potential growth in their financial planning.

4. Manulife ReadyBuilder II

Manulife ReadyBuilder II is an endowment plan that aims to strike a balance between savings and flexibility. It’s designed for those looking for long-term growth with some guaranteed elements. You can choose your premium payment period, ranging from a single lump sum to 5, 10, 15, or even 20 years, which gives you some control over how you want to fund the plan.

One of the key features is its capital guarantee, which typically kicks in after a certain period, like 15 years. This means that by the end of that term, the money you’ve put in is protected. Historically, the plan has shown decent returns, with some periods performing quite well. For instance, over the last 15 years, it has achieved a return of around 4.89%, and shorter-term performances have also been strong.

However, it’s worth noting that the plan does come with a higher Total Expense Ratio (TER) compared to the industry average. This means that the actual returns you see might be a bit lower than the gross figures suggest.

Here’s a look at some of its features:

Policy Term: Can extend up to age 120, offering a long-term savings horizon.
Premium Payment Options: Single premium, or 5, 10, 15, or 20-year terms.
Capital Guarantee: Typically starts after 15 years.
Insurance Coverage: Includes death, total and permanent disability (TPD), and terminal illness (TI).
Flexibility: Options for bonus withdrawals and partial surrenders are available.
Retrenchment Benefit: You might get 50% of your annual premiums back if you’re unemployed for 30 consecutive days.
Premium Freeze: You can pause premium payments for a year, up to two times.

While the expense ratio is on the higher side, the plan’s flexibility, including features like a retrenchment benefit and premium freeze option, can be quite appealing for those who value adaptability in their savings strategy. It also allows for changes to the life assured, which can be useful for legacy planning.

Overall, Manulife ReadyBuilder II is a plan that offers a mix of guaranteed returns and flexibility, making it a solid choice for long-term wealth accumulation. It’s a good option if you’re looking for a savings plan that can potentially last a lifetime and offers some safety nets for unexpected life events. You can find more details about Manulife ReadyBuilder and its features.

5. NTUC Income Gro Cash Plus

NTUC Income Gro Cash Plus is an endowment plan designed to help you build up savings over time. It’s a straightforward option for those looking for a disciplined way to grow their money. The plan aims to provide a guaranteed maturity benefit, meaning you know what to expect at the end of the policy term. This can be quite reassuring when you’re planning for future financial needs.

One of the key features of Gro Cash Plus is its guaranteed acceptance. This means you don’t have to worry about medical check-ups or questionnaires, making it an accessible choice for many. It’s a good way to secure your future without the usual hurdles that sometimes come with insurance applications.

Here’s a quick look at what it offers:

Guaranteed Maturity Benefit: You’re assured of a specific amount when the policy ends.
Guaranteed Acceptance: No medical underwriting required.
Regular Savings: Encourages a consistent saving habit.

While it focuses on guaranteed returns, it’s worth noting that endowment plans like this are generally less about high investment growth and more about capital preservation and steady accumulation. It’s a solid choice if your priority is a secure, predictable savings vehicle.

This type of plan is often chosen by individuals who prefer a predictable savings path over potentially higher but riskier investment returns. It fits well into a broader financial strategy that includes other savings and investment vehicles.

6. Manulife RetireReady Plus III

Manulife RetireReady Plus III is a retirement income plan that aims to provide a steady stream of income during your golden years. It’s designed to offer a balance between guaranteed returns and potential bonuses, giving you some flexibility in how you plan your retirement.

One of the key features is the ability to choose your retirement age, with options typically starting from 55 and going up in five-year increments. You can also select how long you want to receive your income payouts – whether it’s for a fixed term like 10, 15, or 20 years, or for your entire lifetime. This flexibility helps tailor the plan to your individual needs and expected lifespan.

Here’s a look at some of the options you might have:

Premium Payment Terms: You can choose from single premium, or limited pay options like 5, 10, 15, or 20 years. Some options, like single premium, are eligible for CPF Supplementary Retirement Scheme (SRS) contributions.
Retirement Age: Options typically include 55, 60, 65, or 70 years old.
Income Payout Period: You can choose a fixed term (e.g., 5, 10, 15, 20 years) or opt for a lifetime payout.
Disability Benefits: The plan includes benefits if you become unable to perform certain daily activities. For instance, if you can’t perform 3 out of 6 Activities of Daily Living (ADLs), you might receive double your guaranteed monthly income. If you can’t perform 2 ADLs, you might receive 1.5 times your guaranteed monthly income.
Retrenchment Benefit: In case of retrenchment, there’s a benefit that provides a lump sum, often around 50% of your annual premium.

The principal amount is generally guaranteed upon reaching retirement age, which offers a layer of security. Additionally, there’s a potential for non-guaranteed bonuses, which can be received as a lump sum or added to your monthly income, potentially boosting your retirement funds.

This plan is an SRS-approved retirement annuity, meaning contributions can be made using your SRS funds, offering tax benefits. It’s designed for those who want a predictable income stream and some protection against unforeseen circumstances like disability or job loss. However, it’s important to note that the retirement age is set in blocks, and you can’t choose specific ages between these blocks. Also, the non-guaranteed bonuses are subject to the performance of the insurer’s participating fund and are not assured.

It’s worth comparing this with other retirement plans in Singapore to see how it fits your overall financial strategy.

7. NTUC Income Gro Retire Flex Pro II

NTUC Income Gro Retire Flex Pro II is a plan designed to help you build up savings for your retirement years. It’s a type of insurance savings plan that aims to provide a steady income stream later in life. The idea is to give you more financial freedom when you stop working.

One of the key things about this plan is its flexibility. You can choose how long you want to pay your premiums, with options ranging from single premium payments to spreading them out over 5, 10, 15, 20, 25, or even 30 years. You can also use your Supplementary Retirement Scheme (SRS) funds to pay for it, which can offer tax benefits.

Here’s a look at some of the features:

Flexible Premium Payment Terms: Choose from single premium or pay over 5, 10, 15, 20, 25, or 30 years.
Policy Term Options: You can select a policy term that suits your needs, potentially extending up to age 120.
Retrenchment Benefit: If you lose your job, you can pause your premium payments for a period, giving you some breathing room.
Waiver Options: You can add riders for premium waivers in case of events like cancer or total and permanent disability.

It’s important to remember that plans like Gro Retire Flex Pro II are long-term commitments. They are not like a regular savings account where you can easily access your money anytime. The funds are intended to grow over time for your retirement.

While the plan offers flexibility, it’s also a long-term investment. The performance of the participating fund has been noted to be around the middle of the pack historically. However, a significant advantage is its consistently low Total Expense Ratio (TER), often below 1%. This means more of your investment returns are likely to stay with you, as less is taken up by fees. This plan is a good option if you’re looking for a flexible way to save for retirement and want to keep costs down. You can find out more about insurance savings plans to see how they fit into your financial strategy.

8. China Taiping i-Retire

China Taiping’s i-Retire plan is designed for individuals looking to secure a steady income stream during their retirement years. It aims to provide a blend of guaranteed and non-guaranteed returns, making it a solid option for those who prefer a predictable financial future. The plan allows for flexible premium payment terms, including single premium or payment over 5, 10, or 15 years, catering to different financial planning styles. You can also customize your retirement age and the duration of your payout period, which can range from 10 to 30 years.

One of the key features highlighted for the i-Retire plan is its competitive yields. This plan is often noted for offering some of the highest guaranteed and projected yields in the market, which can significantly boost your retirement savings over time. This focus on strong returns is partly attributed to the plan’s efficient distribution costs, meaning more of your money goes towards building your nest egg.

Here’s a look at some of the plan’s features:

Flexible Premium Payment Terms: Choose from single premium or pay over 5, 10, or 15 years.
Customizable Retirement Age: Select when you want your income payouts to begin.
Choice of Payout Duration: Opt for 10, 20, or 30 years of income.
Death Benefit: Provides financial protection for your beneficiaries.

While the China Taiping i-Retire (II) plan offers attractive returns and flexibility, it’s worth noting a couple of points. It doesn’t offer SRS eligibility, meaning you can’t use your Supplementary Retirement Scheme funds to pay for it. Also, while it includes a benefit for loss of independence, premiums are still payable, unlike some plans that offer full waivers.

Despite these considerations, the i-Retire plan stands out for its potential to maximize retirement savings through strong yields. It’s a plan that prioritizes consistent growth and provides a reliable income stream for your golden years, making it a strong contender for those seeking a secure retirement.

For those interested in understanding how different retirement plans compare, looking at options like Singlife Flexi Retirement II can offer further insights into the market landscape.

9. Singlife Flexi Retirement II

Singlife Flexi Retirement II is a retirement plan that offers a good amount of guaranteed income, making it a solid choice for those who prioritize stability in their retirement planning. It’s designed to provide a predictable stream of income, which can be quite reassuring as you approach your golden years.

One of the standout features is the flexibility it offers. You get to pick your retirement age, which is a big plus. You can also decide how much monthly income you want and for how long you’d like to receive it, whether that’s for a fixed term or even up to age 120. This kind of customization helps tailor the plan to your specific needs and financial situation.

Here’s a look at some of the key aspects:

Retirement Age Flexibility: Choose when you want to start receiving your payouts.
Income Payout Options: Decide on the amount and duration of your monthly income.
Principal Guarantee: Your initial investment is 100% guaranteed when you reach your chosen retirement age.
No Health Underwriting: The application process is generally straightforward without needing extensive medical checks.

This plan also comes with an optional rider, the Care Income Plus Cover, which can provide additional monthly income if you become disabled and are unable to perform certain daily activities. It’s a way to add an extra layer of protection to your retirement income stream.

While Singlife Flexi Retirement II is praised for its guaranteed payouts and flexibility, it’s worth noting that some sources suggest it can be on the pricier side compared to other options. However, the trade-off is often the level of guarantees and features it provides. It’s always a good idea to compare it with other plans to see if it aligns with your budget and overall financial strategy.

For instance, if you’re looking for a plan that offers a strong guaranteed income component, Singlife Flexi Retirement II is definitely worth considering. It aims to provide a reliable financial foundation for your retirement years, allowing you to enjoy your time with greater peace of mind. You can explore Singlife’s retirement solutions to see how this plan fits into their broader offerings.

10. Singlife Elite Term

Singlife Elite Term is a term life insurance plan that offers a good balance of affordability and coverage. It’s designed for those who want substantial protection for a set period without the long-term commitment or investment component of whole life policies. This plan is particularly attractive because it allows for flexible coverage durations, meaning you can choose a term that best fits your needs, whether it’s for a specific period like paying off a mortgage or covering your working years.

One of the standout features is its competitive pricing, often coming in cheaper than other similar term plans available in the market. This makes it a solid choice for individuals looking to maximize their coverage without overspending.

Here’s a quick look at what makes it stand out:

Flexible Coverage Terms: You can select policy terms that align with your life stages, from 5, 10, or 11 years up to age 85.
Guaranteed Renewable Option (GRO): For shorter policy terms (5 and 10 years), you can renew your policy automatically without needing further medical checks.
Option to Increase Coverage: Life events like marriage, having a child, or buying a property allow you to increase your coverage without new medical underwriting.
Rider Options: You can add various riders to enhance your protection, including critical illness coverage, which can be a single payout or a multipay option. The MultiPay Critical Illness Cover IV rider is a notable addition for comprehensive critical illness protection.

The Singlife Elite Term plan is a straightforward, cost-effective way to secure significant financial protection for a defined period. It’s a good option if your primary goal is high coverage at a lower premium, with the flexibility to adjust your plan as your life circumstances change.

While term insurance provides protection for a specific period, it’s important to remember that it doesn’t build cash value. If you’re looking for a plan that combines protection with savings, you might want to explore endowment or whole life plans instead.

Looking for a solid plan like the Singlife Elite Term? We can help you find the best options to secure your future. Learn more about how to protect what matters most. Visit our website today to explore your choices!

Wrapping Up Your Search for the Best Endowment Plans

So, we’ve looked at a few of the top regular insurance endowment plans available in Singapore for 2020. It’s clear that these plans can be a solid choice for building up your savings over time, offering a bit more than just a regular savings account. Remember, the ‘best’ plan really depends on what you’re trying to achieve with your money, whether that’s a specific goal like a down payment or just general long-term wealth growth. Take your time, compare the options we’ve discussed, and think about which one fits your personal financial picture the best. It’s all about making a smart move for your future.

Frequently Asked Questions

What is a regular insurance endowment plan?

Think of an endowment plan like a savings account with a bit of insurance added. You put money in regularly for a set time, and at the end, you get back what you saved plus some extra money, called bonuses. It’s a safe way to save up for big goals like buying a house or for your retirement.

Are these plans safe for my money?

Yes, most endowment plans in Singapore are designed to be safe. They usually promise to give you back at least the money you put in (your principal) when the plan ends. Plus, they are managed by insurance companies that are watched over by the government, so your money is protected.

How do these plans help me save for the future?

These plans help you save by making it a habit to put money aside regularly. The money grows over time with interest and potential bonuses, often more than you’d get from a regular savings account. This helps you reach your financial goals faster, whether it’s for your kids’ education or your own retirement.

Can I take my money out early if I need it?

Some endowment plans let you take out money before the plan ends, but there might be fees or you might get less money back. It’s best to check the specific plan’s rules, as some are designed for long-term saving and aren’t meant for quick access to your cash.

What’s the difference between an endowment plan and a retirement plan?

Endowment plans are good for saving up for various goals, like education or a down payment, and you get your money back at a set time. Retirement plans, also called annuities, are specifically designed to give you a steady income stream when you stop working, usually for the rest of your life.

Why should I choose a plan from 2020 now?

While this article focuses on plans popular in 2020, the core idea of saving with insurance remains the same. It’s always good to look at current plans for the best features and rates. However, understanding these older plans can still give you an idea of what to look for when choosing a new one today.