Retirement Planning with Ease
Retirement is a choice. Choose to retire with ease by complimenting your CPF Life with a guaranteed stream of income from the age of your choice and a comfortable commitment period and budget.
Start Planning Early
It is never too early to plan for your retirement, in fact, the earlier you save the greater amount you will accumulate. Whilst mandatory CPF contribution is one way most Singaporeans rely on to plan for their retirement, the fact is that the lack of control over CPF may hinder your hope of an earlier retirement plan.
There are plans you may take advantage of to increase your returns and build a larger retirement nest egg and have more control over them. On top of that, protection features are embedded to give you peace of mind should calamity occurs.
Retirement Plans We Compare
- Aviva MyRetirement choice (III)
- Manulife Ready Retire Plus III
- NTUC Retire Flex
- AIA Retirement Saver (IV)
Get the Best Retirement Plans
Such plans are essential to secure a regular stream of income at the age we need them the most. In addition, such plans also provide crucial protection benefits to you and your depends should any unforeseen circumstances occur.
Make use of our web quote to find the most suitable coverage base on your needs. Upon your request, a licensed FA rep will draft you a customized plan based on the information you have communicated. Their service is 100% free and there is no obligation to take up any products from them.
Answer 3 Specific Preference for us to Customize Your Quote
What are retirement plans?
They are life insurance products and a subset of endowment policy that provides policy owners a stream of regular income (monthly/annually), usually for a specific period, from a specific age onwards.
What is the main difference between a regular endowment policy and a retirement plan?
The main difference is that the endowment plan pays out a lump sum during maturity, while the retirement plan pays out a regular income from a specific period during the policy term.
Why should I get a retirement plan?
You should consider if you prefer a guarantee stream of income for a period of time from a specific age instead of a lump sum pay-out.
You should also consider a retirement plan if you prefer a safe investment asset without the risk of losing your capital at your retirement age as long as you fulfil the obligation of the contract.
Are they principal guaranteed?
Most retirement plans provide principal and interest guaranteed as long as the policy owner fulfils the contract obligations.
Some plans are able to provide more than 2% p.a. guaranteed effective interest rate of return.
What is the difference between an annuity and a retirement plan?
An annuity usually pays out a regular income as long as the policy holder or life assured lives. A retirement plan pays out a regular income for a specific period, etc. 20 years from the age of retirement.
What other benefits are there?
Most retirement product provides disability benefit during the premium payment and pay-out period. As such, premiums may be waived during premium payment term if the insured suffers from a insured event as defined in the policy contract. Most insurers will also pay out additional guaranteed income during the pay-out period of the policy.
Can I terminate the policy during the policy term?
Yes. However, you might suffer a loss of principal if the termination comes early on during the contract.
How does it typically works?
For instance, if Jack is currently 40 years old, his retirement plan may look like the following:
10-years Premium term: 41 to 50 years
10-years Accumulation period: 51-60 years old
30-years Payout Period: 61 to 90 years old.