Annuities to recommend??

[kpop2010]

Hi guys, I was showed an annuity from China taiping and the returns looks good with premium financing assuming the payout matches the projected 4.75%.

One concern I have is whether the insurer is able to meet the projected 4.75% payout because I don’t know much about China taiping so was looking for some feedback or reviews from the fellow hardwarezoners here.

If you have any other recommended annuities as well, please let me know.
I’m only keen on lifetime payout and payout starts either immediate or within 5 years.

Thanks in advance.

 

[winthony]

Hi guys, I was showed an annuity from China taiping and the returns looks good with premium financing assuming the payout matches the projected 4.75%.

One concern I have is whether the insurer is able to meet the projected 4.75% payout because I don’t know much about China taiping so was looking for some feedback or reviews from the fellow hardwarezoners here.

If you have any other recommended annuities as well, please let me know.
I’m only keen on lifetime payout and payout starts either immediate or within 5 years.

Thanks in advance.

My advice is look at the guaranteed payout portion!

There is a relatively good annuity that allows you to choose how long the premium payment term and how long till payout! can let me know your desired period and we can work from there

 

[moejoseph]

Hi guys, I was showed an annuity from China taiping and the returns looks good with premium financing assuming the payout matches the projected 4.75%.

One concern I have is whether the insurer is able to meet the projected 4.75% payout because I don’t know much about China taiping so was looking for some feedback or reviews from the fellow hardwarezoners here.

If you have any other recommended annuities as well, please let me know.
I’m only keen on lifetime payout and payout starts either immediate or within 5 years.

Thanks in advance.

If u need a quote for AXA Retire Happy Plus, let me know. Currently there's a 7% discount.

Non-guaranteed bonus can be added to annual payout, or accumulated to earn guaranteed interest at market rate.

 

[BBCWatcher]

Hi guys, I was showed an annuity from China taiping and the returns looks good with premium financing assuming the payout matches the projected 4.75%.

One concern I have is whether the insurer is able to meet the projected 4.75% payout because I don’t know much about China taiping so was looking for some feedback or reviews from the fellow hardwarezoners here.

There is absolutely no significance in the 4.75% projection, except that's the maximum figure that the Monetary Authority of Singapore allows insurance carriers to advertise in their non-guaranteed illustrations. It's a fantasy, a dream, a hope -- nothing more. You should ignore it.

The insurer guaranteed payout figures are more interesting. MoneySmart wrote an article about life annuities available in Singapore based on something I wrote, and that article is available here. At the time MoneySmart examined private sector life annuities they found that Manulife offered the highest guaranteed return.

As a reminder, CPF LIFE is far and away the best life annuity available in Singapore in terms of payout per premium dollar. You shouldn't even think about buying a private sector annuity before maxing out CPF LIFE in your household, assuming CPF LIFE is available to you.

 

[BBCWatcher]

If u need a quote for AXA Retire Happy Plus, let me know. Currently there's a 7% discount.

That's nice, but AXA Retire Happy Plus is not a life annuity. Payouts end at age 99 whether or not you live longer (more and more Singaporeans do). Yuck!

 

[kpop2010]

There is absolutely no significance in the 4.75% projection, except that's the maximum figure that the Monetary Authority of Singapore allows insurance carriers to advertise in their non-guaranteed illustrations. It's a fantasy, a dream, a hope -- nothing more. You should ignore it.

The insurer guaranteed payout figures are more interesting. MoneySmart wrote an article about life annuities available in Singapore based on something I wrote, and that article is available here. At the time MoneySmart examined private sector life annuities they found that Manulife offered the highest guaranteed return.

As a reminder, CPF LIFE is far and away the best life annuity available in Singapore in terms of payout per premium dollar. You shouldn't even think about buying a private sector annuity before maxing out CPF LIFE in your household, assuming CPF LIFE is available to you.

Yes, agree that CPF life is by far the best annuity so i've already funded my SA for the ERS amount.

Now i'm just thinking of what good private annuities are available to supplement CPF life because i would like to start receiving the payouts earlier.

 

[boredboiboi]

Yes, agree that CPF life is by far the best annuity so i've already funded my SA for the ERS amount.

Now i'm just thinking of what good private annuities are available to supplement CPF life because i would like to start receiving the payouts earlier.

You can look at plans that start paying as soon as 37th month for a lump sum premium plan. The plan pays monthly income up to 120 years old. And captial will appreciate and will not depreciate like traditional annuities.
Return base on 4.75% is about 4+ % p.a. If bought under child as life insured, the plan will continue to payout under child name even if parent pass away.

 

[canopus88]

You can look at plans that start paying as soon as 37th month for a lump sum premium plan. The plan pays monthly income up to 120 years old. And captial will appreciate and will not depreciate like traditional annuities.
Return base on 4.75% is about 4+ % p.a. If bought under child as life insured, the plan will continue to payout under child name even if parent pass away.

Which one is good

 

[boredboiboi]

Which one is good

This is just 1 example
U can take a look.
The earliest in the market to start paying out income also

https://www.manulife.com.sg/content/dam/insurance/sg/solutions/our-solutions/signature/signature-income/Signature%20Income%20Brochure%20(English).pdf

 

[moejoseph]

That's nice, but AXA Retire Happy Plus is not a life annuity. Payouts end at age 99 whether or not you live longer (more and more Singaporeans do). Yuck!

Will have to see the ultimate goal. If it is to pass down to the next gen, then yes 120 will work better.

If the aim is to get a higher annual payout during when one is still alive, then 99 will work better.

Insurer has also started to term 99 as lifetime payout now, at least that's the case for AXA.

 

[moejoseph]

Which one is good

Usually lumpsum may not give the best returns. In some cases, pay 5 and wait for 5 wears will allow for longer accumulation period, than lumpsum then wait 5.

 

[BBCWatcher]

Will have to see the ultimate goal. If it is to pass down to the next gen, then yes 120 will work better.

How about life, however long it lasts? Approximately 8 insurance carriers in Singapore offer life annuities.

A genuine life annuity is an absolute requirement if you're going to use Supplementary Retirement Scheme dollars to fund it, and if you want to stretch the tax favored withdrawal window beyond the standard 10 years. Currently only Manulife offers a fully SRS qualified life annuity, and sometimes they're useful.