Etiqa Introduces New Takaful Products with Charity Pledge in Singapore

In a move blending financial security with social good, Etiqa Insurance Singapore has launched a groundbreaking charity pledge tied to its latest Shariah-compliant Takaful products. Announced on September 30, 2025, this initiative donates a portion of premiums from new policies directly to the Community Chest of Singapore, empowering policyholders to contribute to community welfare without extra costs. For values-driven investors seeking ethical wealth-building options, this launch marks a significant step in revitalizing Takaful – Islamic mutual insurance – in the Lion City after a 13-year hiatus.

Reviving Takaful: A Return to Ethical Insurance in Singapore

Takaful, rooted in Islamic principles of mutual cooperation and shared responsibility, emphasizes risk-sharing among participants rather than traditional profit-driven models. It returned to Singapore’s market in January 2025, with Etiqa leading the charge through its innovative Family Takaful portfolio. The new offerings, Invest purpose and Invest vista, cater to modern families and individuals aiming to align investments with personal ethics and long-term goals.

Invest purpose, available exclusively through Maybank Singapore branches starting August 1, 2025, is an investment-linked plan certified Shariah-compliant by the Financial Shariah Advisory and Consultancy (FSAC) of Pergas Singapore. Key features include:

• Comprehensive Coverage: Protection against death and terminal illness, with optional riders for enhanced benefits like critical illness or disability.

• Flexible Payment Options: Premium terms of 10, 15, or 20 years, allowing premium pauses without penalties and up to two fee-free partial withdrawals from year four onward.

• Legacy and Giving Tools: Policyholders can nominate beneficiaries for living or death benefits, or establish a Wakaf – an enduring charitable endowment – to support causes like education or healthcare indefinitely.

Complementing this, Invest vista is distributed via Etiqa’s advisory channels and independent financial partners, offering similar investment flexibility with a focus on diversified unit trusts for growth potential.

These products stand out in Singapore’s competitive insurance landscape by integrating sustainability and philanthropy. As a wholly-owned subsidiary of Maybank Ageas Holdings Berhad – backed by Southeast Asia’s fourth-largest bank (Maybank) and global insurer Ageas – Etiqa brings decades of expertise. Established in 1961 as United General Insurance, the company has evolved into a ASEAN Takaful powerhouse, serving over 2,000 employees and managing billions in assets through diverse channels like bancassurance and digital platforms.

The Charity Pledge: Turning Investments into Impact

At the heart of the launch is Etiqa’s Charity Pledge, a commitment to donate 0.1% of the first-year regular premium equivalent from qualifying Family Takaful policies sold after August 1, 2025. This gesture, at no additional expense to customers, channels funds to the Community Chest – Singapore’s leading philanthropy platform supporting vulnerable groups through programs like student aid and family welfare.

Remarkably, each policy’s contribution equates to funding a week’s pocket money for a primary school student, amplifying the ripple effect of personal financial decisions. Policies must remain active at donation time to qualify, ensuring sustained community support. This aligns seamlessly with Takaful’s ethos of tabarru’ (voluntary contribution for mutual aid), making ethical investing accessible and rewarding.

Raymond Ong, CEO of Etiqa Insurance Singapore, emphasized the initiative’s resonance with today’s consumers: “Today’s consumers are increasingly seeking to align their investments with their personal values – demanding products that deliver not only financial returns, but also a sense of purpose and social responsibility. Etiqa’s Charity Pledge is designed for Singaporeans who want their investments to be a force for good, where every investment becomes an act of impact for the wider community.”

Why This Matters for Singaporeans: Benefits and Next Steps

For Muslim families and ethical investors alike, these Takaful products offer more than protection – they provide peace of mind through Shariah compliance, tax advantages under Singapore’s Qualified Retirement Schemes, and now, built-in philanthropy. In a nation where financial literacy and community giving are cultural cornerstones, Etiqa’s approach addresses rising demands for sustainable finance amid economic uncertainties.

Potential buyers can explore Invest purpose at Maybank branches or contact Etiqa advisors for Invest vista. For eligibility checks or personalized quotes, reach out to Etiqa’s customer service team via their official hotline at 1800-ETIQA88 (3847 2288). Early adopters may also qualify for promotional incentives, underscoring Etiqa’s push to make Takaful a household name once more.

As Singapore’s insurance sector evolves toward inclusivity, Etiqa’s launch sets a benchmark for purpose-driven innovation. Stay tuned for updates on expanded Takaful offerings and deeper community partnerships.