Singapore Life came up with a 3% insurance savings plan with a 3 year duration.
And judging by what the bulletin I received says, they should meet the target before the deadline of 29th Nov (tomorrow). Compared to the Temasek T-2023 bond, the duration is shorter (versus 5 years), and the yield is higher (versus 2.7%). The rating of the firm behind the bond issuer is lower though.
I think this will become a Singaporean saver’s past time, to see how many of these short term, higher yield insurance savings plan they can pick up.
Generally, Singaporeans are still very risk adverse and the safe way to invest their money is through fixed deposits and property. A plan such as the 3% endowment plan greatly appeals to them.
The first one, came up by FWD, sold like hot cakes.
Then other insurance company saw that, and started to ...