Aviva Myretirement

[stlinking]

Report you for touting your service here, no advertisements.

Apologies, I was not aware about it. I have removed the advert.

 

[lusunshine]

The yield is crap, buy SGS bonds also better than throwing money to them.

The endowment plan yield is compounding but SGS bond coupon interest is not, after 30 years, 2.38%p.a compound interest will give you much better return than 2.7%p.a simple interest. It's also unfair to totally ignore non-guaranteed return portion as I can't imagine an insurance company dares to declare zero bonus every year for 30 years.

 

[sonyulianto]

looking for aviva agent

if anyone here agent for aviva life insurance pls pm me. I am looking for term and whole life insurance. thx

 

[Aerial86]

if anyone here agent for aviva life insurance pls pm me. I am looking for term and whole life insurance. thx

Pm sent to you.

 

[bigass]

It's a good known fact that any early termination for endownment plan will result in huge losses incurred.

 

[endlssorrow]

Actually apart from personal DIY, is always good to have additional product.

I find this not bad personally . I post in the insurance thread :
Pay monthly $200 monthly for 18 years and will get back $500 monthly for 10 years on age 55 to 65.

 

[kawaiiboi]

Actually apart from personal DIY, is always good to have additional product.

I find this not bad personally . I post in the insurance thread :
Pay monthly $200 monthly for 18 years and will get back $500 monthly for 10 years on age 55 to 65.

$2400 * 18 = $4320 take back $60k

You may want to look at PruWealth by Prudential.

$600 for 5 years, assuming you are 32. Age 52 you can take back $70000 or 62 $110000 and more...

https://www.prudential.com.sg/expor...ds/ebrochures/PRUwealth_eBrochure_English.pdf

 

[endlssorrow]

$2400 * 18 = $4320 take back $60k

You may want to look at PruWealth by Prudential.

$600 for 5 years, assuming you are 32. Age 52 you can take back $70000 or 62 $110000 and more...

https://www.prudential.com.sg/expor...ds/ebrochures/PRUwealth_eBrochure_English.pdf

mine $200 is just a rough quote from my agent.
Prudential asking for $600 of coz return is higher. I ask my agent is give $500 can return how much. The return is about $1200

btw i have not bot any such policy yet.

 

[Lewis.T]

mine $200 is just a rough quote from my agent.
Prudential asking for $600 of coz return is higher. I ask my agent is give $500 can return how much. The return is about $1200

btw i have not bot any such policy yet.

Hello! He mentioned Pru you only put in for 5 years at 600/mth, versus the $200/mth for 18 years from your comparison. The capital outlay is lower.

Edit: Or a similar wealth accumulation plan from us @ 2300/Yr for 18 years would give the person $6540/yr payout for 15 years from age 55 on avg. Growth is dependent on age of entry and other factors such as smoking status and gender.

 

[FP_IFA]

I will explain this MyRetirement plan.

MyRetirement has 3 payment options, 8 years, 10 years or regular pay. Regular pay gives the worse return and he is talking about the regular return one.

Assuming endIssorrow is age 32 NB, he pay about $200 per mth for 18 years till age 55 and then get $500 per mth for next 10 years after age 55. At the end of age 65, he will also get a non-guaranteed lump sum of $39,306 and the policy will expired. In total he potentially could get $99,306.

Now if he chose the 8-pay option, he would pay $408.85 per mth for 8 years, then receive $500 per mth for 10 years after age 55 and received a non-guaranteed lump sum of $50,463 at the end of age 65. Potential total is $110,463.

 

[endlssorrow]

What do u mean by regular?

U mean I should buy those pay one lump sum after say like 20years?

 

[endlssorrow]

Policy term :38
Premium term :23
If I'm age 30.

Mean I have to pay for 23 years and keep till I'm age 68 yr old?

 

[wl_ling]

Can Pruwealth effectively counter inflation for the 20years?

 

[jmksqjt]

09921^2 was x

Sent from Xiaomi MI 4I using GAGT

 

[Lewis.T]

Can Pruwealth effectively counter inflation for the 20years?

The inflation rate in Singapore was recorded at -0.40 percent in May of 2015. Inflation Rate in Singapore averaged 2.76 percent from 1962 until 2015, reaching an all time high of 34 percent in March of 1974 and a record low of -3.10 percent in September of 1976. Inflation Rate in Singapore is reported by the Statistics Singapore.

http://www.tradingeconomics.com/singapore/inflation-cpi

PruWealth can give over 4% interest if you include the non guaranteed portions. It's also capital guaranteed after 20 years of holding it assuming no withdrawals have been made in between.

If you are doing an advance premium deposit, you will be earning up to an additional 1.75% interest on the advance premiums.

Things to consider before taking up this plan
- It is a plan for long term growth of your money. (We're looking at 20 years+)
- You have no need for liquidity in the short term <20 years. That's not to say there's no flexibility, but it will affect the plan's growth.
- Budget. Minimum would be $200/mth for 5 years.

Do drop me a pm if I can help you with anything!

 

[pcmdan]

Sorry, but i think insurance companies words cant be trusted. If their product is that great, they should make the returns guaranteed and not use it loosely as a marketing gimmick.

TBH, it is just best to say the non guaranteed portion and likely than not it is not able to beat inflation at all.

If any product out there has capital protection and full guaranteed amount that is above 3.5% plus non guarantee component then kindly PM me thanks.

 

[Lewis.T]

Sorry, but i think insurance companies words cant be trusted. If their product is that great, they should make the returns guaranteed and not use it loosely as a marketing gimmick.

TBH, it is just best to say the non guaranteed portion and likely than not it is not able to beat inflation at all.

If any product out there has capital protection and full guaranteed amount that is above 3.5% plus non guarantee component then kindly PM me thanks.

Sadly there's no such thing like that. If there is one I would like it too!

Don't be mistaken, the non-guaranteed part isn't something that the insurer can keep at their whim and fancy. If the participating fund performs 4.75% or better on average, you can expect the bonus to be declared to you accordingly as per projection.

This will also be declared to you yearly, and once declared, that bonus is yours and we cannot take it back.

The participating fund (Prudential) has an annualized return of 5.2% for the past 10 years.

Edit: There IS a product like that, but the trade off is that you cannot use it till age 55 (as of current), the money there will then be accumulated to age 65 and subsequently be used to buy an annuity (of which nothing, not even $1 is guaranteed). Any guesses what I'm referring to?

 

[lifeishard]

Don't be mistaken, the non-guaranteed part isn't something that the insurer can keep at their whim and fancy. If the participating fund performs 4.75% or better on average, you can expect the bonus to be declared to you accordingly as per projection.

This will also be declared to you yearly, and once declared, that bonus is yours and we cannot take it back.

The participating fund (Prudential) has an annualized return of 5.2% for the past 10 years.

Nonsense,...on paper it is like that but if your insurance company is unscrupulous,they can still give the non-guaranteed part lower than 4.75% projection even if par fund hits 10% by saying bonus smoothing or claims experience.

ever see this X%@X%? this is basically the yearly bonus insurance company pays out,u ever see 2.5%@2.5%? even 2%@2% is not common.

how an endowment could possibly give u a 3%-4% pa upon maturity is because of the huge bonus payable into your endowment at maturity.

you will never see a yearly 2-3% bonus credited into your yearly endowment because insurance interests or bonus is a gradually increasing gradient.

 

[lifeishard]

seriously what's so hard for insurance company to come out capital guaranteed product as long as consumer held till maturity and depends on tenure, to give a guaranteed % returns if banks' structured deposits can do it.

i really see no benefits in endowment anymore other than a vehicle to force you to save else heavy penalty applies. seems that insurance only competitve product is still only term or whole life policy.

 

[Perisher]

seriously what's so hard for insurance company to come out capital guaranteed product as long as consumer held till maturity and depends on tenure, to give a guaranteed % returns if banks' structured deposits can do it.

i really see no benefits in endowment anymore other than a vehicle to force you to save else heavy penalty applies. seems that insurance only competitve product is still only term or whole life policy.

Just to note, Structured deposits is another bad product from banks. Not recommended.