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Best Lifetime Income Plans in Singapore (Updated Jan 2023)

Having a steady flow of cash flow is vital in financial planning. A positive cash flow ensures the health of your financial plan. The best lifetime income plans let you achieve your financial goals, be it getting a mortgage, taking a vacation or planning for retirement.

The idea of creating your own lasting source of cash flow and annuities through an income plan is slowly gaining prominence. Insurance companies have designed income plans to help you build a supplementary stream of cash flow (apart from your daily income).

If you are considering getting an income plan to create a lasting source of income for yourself and your loved ones, there are three good plans you can consider with the following benefts:

  • Best Lifetime Income plan for Fastest Principal Guaranteed & Flexibility – Singlife MyLifeIncome III
  • Best Lifetime Income Plan for Highest Guaranteed Income – China Taiping Infinite Harvest III
  • Best Lifetime Income Plan for Earliest Income Payout – Manulife Signature Income III

Each of this income plan brings an interesting value proposition for you and me for wealth planning. But first, let’s understand how income plans work.

This article is for general information only it is not an advise nor does it take into account the specific investment objectives, financial situation or needs of any particular person. The article has not been reviewed by any of the providers mentioned. Read our General Disclaimer

Understanding How Lifetime Income Plans Works In 3 Simple Steps

While you might find convoluted explanations of how income plans work, here’s how an income plan works for you, in 3 simple steps.

  1. Choose your desired yearly/monthly income, or lump sum you wish to set aside.
  2. Let your capital accumulate through the accumulation period and wait for your yearly income to begin
  3. Once your accumulation period is over, you can start receiving a lifetime of yearly income from your insurer until you die or surrender.

Battle Of The Lifetime Income Plans: Singlife MyLifeIncome III vs China Taiping Infinite Harvest III vs Manulife Signature Income III

Before we dive into what we like about each income plan, here’s a quick summary of each of them, aka TL: DR version.


Singlife Flexi Life Income China Taiping Infinite Harvest III Manulife Signature Income III
Premium Payment Term Options Single Premium, 3, 5, 10, 15, 20, 25 years Single Premium Single Premium
Riders Cancer Premium Waiver II


EasyPayer Premium Waiver

Cash Payout  From 5th Year

0.81% p.a. Guaranteed of Lump Sum


2.98% p.a. Non Guaranteed of Lump Sum Base on 4.25% p.a. Projection

Total Projected = 3.79% p.a.

From 5th Year

1.44% p.a. Guaranteed of Lump Sum


2.19% p.a. Non Guaranteed of Lump Sum Base on 4.25% p.a. Projection

Total Projected  = 3.63% p.a.

From 3rd Year

1.24% p.a. Guaranteed of Lump Sum


2.36% p.a. Non Guaranteed of Lump Sum Base on 4.25% p.a. Projection

Total Projected  = 3.6% p.a.

From 4th Year

1.24% p.a. Guaranteed of Lump Sum


2.03% p.a. Non Guaranteed of Lump Sum Base on 4.25% p.a. Projection

Total Projected  = 3.27% p.a.

Special Features Capital guaranteed from 5th policy year onwards

Multiple Premium Term to choose from

Highest Guaranteed Income Choose to withdraw income from 37th month or 49th month

2 Things We Like About Singlife MyLifeIncome III

Best Lifeincome Plan

Source: Singlife

  1. Singlife MyLifeIncome III income Guarantees Your Capital early Even While You Receive your income

One of the most salient points about Singlife MyLifeIncome III is the capital guaranteed feature which occurs on the 5th policy year where you may opt for the income payout to start also.

As your yearly income starts to flow into your pocket, there is a guaranteed surrender value on your income plan. The guaranteed surrender value acts like a cash value in your plan. It is equivalent to the total amount of premiums you have paid across your premium payment term. This guaranteed surrender value can be encashed any time after you start to receive your yearly income.

You can think of Singlife MyLifeIncome III as a “savings” that continues to pay you a yearly income to keep your money in the savings account. At the end of the day, you have the option of withdrawing your savings, thanks to the guaranteed capital feature. But if you keep your money in the “savings”, you can continue to receive yearly income in your “savings”. That’s a pretty neat income just for investing your money with Aviva.

  1. Singlife MyLifeIncome Has A Flexible Premium Payment Term and high non guaranteed income 

Singlife MyLifeIncome III has many premium payment term option. You can choose to make a single premium term or opt for premium payment term ranging from 3 to 25 years. This allows you to customize the premium payment term that suits your personal cash flow. You may also customize your payout to start immediately or a few years after you have finished paying your premium. Singlife MyLife Income III also happen to provide the highest non guaranteed income among the 3 to make up for the lower guaranteed income feature.

2 Things We Like About China Taiping Infinite Harvest III


Best lifetime income planSource: China Taiping

  1. China Taiping Infinite Harvest III Has the highest guaranteed income payout among the 3

Despite the low interest rate environment, the China Taiping Infinite Harvest impresses by offering the highest guaranteed interest rate among the 3 plans, base on the lowest starting premium, the plan is able to deliver a guaranteed return of 1.44% p.a. of the principal amount. The plan starts paying out on the 5th year and continues to provide a non guaranteed capital appreciation on its underlying cash value even during the payout term.

  1. China Taiping infinite harvest iii provides a strong legacy solution 

With a policy term lasting till the life assure’s age 120, the life assured do not have to live till 120 years old to enjoy the income. He/She may pass on the ownership of the policy to his spouse or child and have them enjoy the fruit of his/her labour. The plan then continues to pay a monthly income to the new owner way after the original life assured has passed on. Eventually, when the new owner passes on, a lump sum will be passed on to his/her beneficiary which includes the principal amount + the non guaranteed capital appreciation which is accumulated throughout the policy term.

2 Things We Like About Manulife Signature Income III


Best lifetime income plans singaporeSource: Manulife

  1. Manulife signature income iii Cash Payout Starts As Early As the end of 3rd Policy Year

Manulife’s Signature Income III comes with a cash payout feature that starts as early as the end of 3rd policy year. This means that 3 years after your lump sum premium for your plan, you will receive a yearly guaranteed of 1.24% p.a. of principal for life, this income will be further boosted with its non guaranteed payout which may potentially achieve more than 3.5% p.a. base on a projected return of 4.25% investment return yearly. If you want a higher potential capital appreciation, you may wish to choose a payout that starts from the beginning of the 5th policy year. While this option provides a lower payout also, it has a potential to double/triple your principal ontop of a yearly income by the time you pass on and leave the money for the next generation

  1. ManulIfe signature income iii 49th month income payout is ideal For 2 Generation Worth Of wealth

While Manulife’s Signature Income III 49th year doesn’t come with the best cash payout or guaranteed capital feature, Manulife’s Signature Income is perfect for legacy planning. Thanks to its legacy planning feature, you have the freedom to transfer the policy to your child when he/she turns 18. Through Manulife’s Signature Income III, you do not have to incur any wealth transfer tax. Your death benefit may potentially double/triple by the time the wealth is riped for your 3rd generation to use.

Alternatively if you wish to receive a higher and faster payout benefit, you should select the 37th month income payout feature. The income will be higher but the bequested amount is significantly lower.

Finding THE ONE For You Can Be Easy

We have more options for you: Check out our Lifetime income Comparison page

Since each income plan comes with its own set of unique features, it is important to find THE ONE that suits your financial needs. While it might sound difficult in theory, it can be very easy in reality. Let us know your income appetite and we will structure the best policy that suits your needs.


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