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        Is Aviva MyLifeIncome Policy worth buying ?

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        Old 23-07-2020, 04:34 PM   #1
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        Is Aviva MyLifeIncome Policy worth buying ?

        I have zero knowledge of this Policy, the agent keeps asking to invest 5 years premium term.

        Is this a good saving policy?

        Appreciate any kind person advice, TIA.
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        Old 23-07-2020, 04:38 PM   #2
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        I have zero knowledge of this Policy, the agent keeps asking to invest 5 years premium term.

        Is this a good saving policy?

        Appreciate any kind person advice, TIA.
        Not a bad plan. What the objective of this plan to u?
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        Old 23-07-2020, 04:41 PM   #3
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        Not a bad plan. What the objective of this plan to u?
        For 5 years saving since bank interest is very low, but Im not sure whether is worth to lock-in 5 years? Like the return for 5 years also not attractive?
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        Old 23-07-2020, 04:42 PM   #4
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        For 5 years saving since bank interest is very low, but Im not sure whether is worth to lock-in 5 years? Like the return for 5 years also not attractive?
        This plan is not meant to save for 5 years only. 5 years only capital breakeven. Its the yearly income for life after that this plan is able to give. Its to leave it there and take yearly income as long as you live.
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        Old 23-07-2020, 04:57 PM   #5
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        This plan is not meant to save for 5 years only. 5 years only capital breakeven. Its the yearly income for life after that this plan is able to give. Its to leave it there and take yearly income as long as you live.
        What is the estimated return? 5 years to breakeven is really short, most policies are 10 years breakeven and payment not for life.
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        Old 23-07-2020, 04:57 PM   #6
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        This plan is not meant to save for 5 years only. 5 years only capital breakeven. Its the yearly income for life after that this plan is able to give. Its to leave it there and take yearly income as long as you live.
        Wah! Like that not worth leh.. Invest $100k, wait till 5 years then receive guaranteed yearly income of $1,364 (equals to about 0.27% p.a. Interest rate)

        Due to Covid-19, the non guaranteed return may not realize, so save for 5 years may end up earn only 0.27% p.a. , might as well save in F.D.
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        Old 23-07-2020, 05:01 PM   #7
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        Wah! Like that not worth leh.. Invest $100k, wait till 5 years then receive guaranteed yearly income of $1,364 (equals to about 0.27% p.a. Interest rate)

        Due to Covid-19, the non guaranteed return may not realize, so save for 5 years may end up earn only 0.27% p.a. , might as well save in F.D.
        With non guaranteed is about 3.5%. End if year 5 capital guaranteed. Income for life ma. For so long history, there will be non guaranteed, nv seen any declared 0. There are are years they done good and some not but they will use the good years to cover the back years. I do sell this plan but u need to know what the nature and objective of the plan.
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        Old 23-07-2020, 05:03 PM   #8
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        What is the estimated return? 5 years to breakeven is really short, most policies are 10 years breakeven and payment not for life.
        End of year 5 is capital guaranteed. Yearly income about 3.5% from end of year 5. And year 10 onwards capital guaranteed growth of min 0.25%. This is meant for retirement to supplement.
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        Old 23-07-2020, 05:54 PM   #9
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        If you're looking for a life annuity then the best value is CPF LIFE, so you'd max that out first.

        I believe the last time I updated the list of private life annuities available in Singapore is here. (Maybe I'll get around to updating that list since there are some slight changes.) MoneySmart posted an article here with their take.
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        Old 23-07-2020, 07:30 PM   #10
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        If you're looking for a life annuity then the best value is CPF LIFE, so you'd max that out first.

        I believe the last time I updated the list of private life annuities available in Singapore is here. (Maybe I'll get around to updating that list since there are some slight changes.) MoneySmart posted an article here with their take.
        Many thanks!
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        Old 24-07-2020, 12:55 AM   #11
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        I have zero knowledge of this Policy, the agent keeps asking to invest 5 years premium term.

        Is this a good saving policy?

        Appreciate any kind person advice, TIA.
        What are you looking out for from the plan?

        It offers lifetime annuity with the flexibility of reinvesting after accumulation period(if any). Some plan it to last for 3rd generation.

        I think 5 years is a sweet spot; 3 years may affect your cash flow, 10 years might be too long.

        Sent from Samsung SM-N950F using GAGT
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