If you have extra cash in the bank, you want your money to work harder for your retirement. But if you are not comfortable with investing and yet not satisfied with the low interest of the bank deposit, you may want to put it in a short-term endowment plan.

Single premium endowment plan becomes so popular that NTUC’s Capital Plus was sold out within a day last week.  Now you have an alternative.

China Life is launching a new plan called “Special SaveGrowth”.  The plan is simple: you pay a single premium and the plan matures in 5 years.

Your guaranteed Yield at maturity is:

2.38% if your Single Premium is less than SGD50,000 2.60% if your Single Premium is SGD50,000 or more

Note the return is compounded, minimum premium is $20,000. The policy term is longer than NTUC Capital Plus thus the yield is higher. 2.6% is probably …