Which insurance plan is best for retirement? What about to provide annuity payout? - Seedly

Retirement

Asked by Anonymous

Asked on 17 Mar 2019

Which insurance plan is best for retirement? What about to provide annuity payout?

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Josh Tan Jian Liang
Josh Tan Jian Liang
Level 4. Prodigy
Answered on 17 Mar 2019

With a retirement plan, you get guaranteed income, ideally in a monthly mode so that you can cover your core expenses.

Kind-of like a low risk passive income source.

These are FIVE retirement plans to look at now

They are the following (You may click to get the brochures)

1) AIA Retirement Saver III : III is the newest version

2) AVIVA MyRetirement Choice : Choice is the newest version with most flexibility

3) AXA Retire Happy Plus : Plus is the newest version

4) Manulife Retire Ready Plus : Plus is the newest version. Sold in DBS

5)  NTUC RevoRetire Retire : Previous version was a different plan name

In the post is a detailed explaination of the various plans.

https://www.theastuteparent.com/2018/08/5-best-retirement-plans-that-will-give-you-guaranteed-income/

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There are quite a lot of them.

A few of my favourites (highest projected and guaranteed):

For lifetime annuities -

1) Aviva MyLifeIncome

2) China Life Lifetime Income Plan

3) NTUC VivoWealthSolitaire

4) China Taiping Infinite Harvest

For limited year payouts (over 10-20 years after retirement) -

1) Aviva MyRetirementChoice

2) Manulife RetireReady

3) NTUC RevoRetire

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S1
S1

25 Mar 2019

Hi can explain a little or an example on the 6% and the 50K leverage. Thought AvivaMyLifeIncome also has single premium?
Hariz Arthur Maloy
Hariz Arthur Maloy

25 Mar 2019

It's a little hard to type out here Stanley. Would you mind PM-ing me on FB? You can go to my seedly profile and find my fb link there. Or just search Hariz Maloy.