My Regular Pay by Aviva

[Mr Brown]

MyRegularPay is a 100% capital guaranteed1 savings plan that pays you annually from the end of the 2nd policy year onwards. It also gives you a guaranteed lump sum amount at maturity, to meet your savings goal.

- See more at: https://www.aviva.com.sg/savings-and-investments/savings/MyRegularPay.html#sthash.vLk7pO4j.dpuf

Any one took this?

Is it better than AIA, Prudential or Great Eastern?

Seriously, never consider them before....thought they only cover SAF

 

[bankingnerd]

I'm just curious of stating that this is capital guaranteed is supposed to be a selling point?

Are we expecting any insurer to go bankrupt or typically is that a consideration?

 

[JK1688]

What do you mean better?

Any thing that you wanna compare specifically?

I believe every insurer got very similar policy.

Sent from using GAGT

 

[JK1688]

I'm just curious of stating that this is capital guaranteed is supposed to be a selling point?

Are we expecting any insurer to go bankrupt or typically is that a consideration?

Think reason being the old endowment plans are not capital guaranteed?

Sent from using GAGT

 

[Mr Brown]

I'm just curious of stating that this is capital guaranteed is supposed to be a selling point?

Are we expecting any insurer to go bankrupt or typically is that a consideration?

hmmm....good point

but i think wat the advisor meant is what we put in, we get back full sum

other insurance maybe erode value

 

[Mr Brown]

What do you mean better?

Any thing that you wanna compare specifically?

I believe every insurer got very similar policy.

Sent from using GAGT

Like the AIA Prudential Great Eastern variants of savings n growth plan lor

the comparison between cash out sum n min input etc

for aviva i know ish min $210 monthly, 2nd year onwards got $100

interest shld be everyone hover ard 3%

 

[bankingnerd]

hmmm....good point

but i think wat the advisor meant is what we put in, we get back full sum

other insurance maybe erode value

oh actually I believe that most regular pay plans do not erode value..

the argument usually lies in how much gain you actually make at the end of tenor

that said, my view is that for endowmant plans (if this isnt an endowment i apologise), regardless of what the insurer states, its still a projection.

and bearing in mind that all insurers typically have more or less the same overall allocation; the returns should not vary by a lot as well. not much point to nitpick over this given the above conditions. economy bad = lousier returns. economy good = better returns. same for most asset classes available to us which doesnt require too much of active management

 

[mSnooze]

Many of my clients choose to purchase this product.

 

[Shion]

Like the AIA Prudential Great Eastern variants of savings n growth plan lor

the comparison between cash out sum n min input etc

for aviva i know ish min $210 monthly, 2nd year onwards got $100

interest shld be everyone hover ard 3%

I think it works more or less the same way as some of the endowments by other companies

But if you withdraw your cashback I believe it will decrease your guaranteed maturity value ?

The capital guaranteed value seems to be a combination of 1) cashback total and 2) 70% of sum assured value

Interest is non-guaranteed, subjected to changes

 

[JK1688]

I think it works more or less the same way as some of the endowments by other companies

But if you withdraw your cashback I believe it will decrease your guaranteed maturity value ?

The capital guaranteed value seems to be a combination of 1) cashback total and 2) 70% of sum assured value

Interest is non-guaranteed, subjected to changes

Nope bro, if you withdraw the cash back, your guaranteed maturity benefit will still be the same.

But you'll lose the potential interest, projected at 3%, if you never withdraw the cashback.

Sent from using GAGT

 

[Shion]

Do you have a copy of the benefit illstruation ?

 

[akwl88]

what i see from the brochure:

Total premiums paid for 10 yrs : $64,850

Total guaranteed returns after 15 yrs: $67,500

Non-guaranteed returns based on 4.75% projections: $12,960

go figure

 

[Shion]

The brochure does not state too many information about the figures

 

[Carnage]

Tokio Marine also have something similar.

 

[Shion]

Yes, I believe is TM Nest Egg

 

[JK1688]

The total premium stated is exclusive of compulsory accidental death rider, 29.20/yr for this sum assured.

Cheers

Sent from using GAGT

 

[Shion]

Ah, so the guaranteed amount at maturity is inclusive of the total cashback amount not withdrawn?

 

[JK1688]

Above is the accumulated mode.

For this premium. If you want to cashback from 2nd year end onwards. You get 1k every year until year 14. And the maturity benefit, on year 15, will be $14,600 (guaranteed).

Sent from using GAGT

 

[Mr Brown]

Do you have a copy of the benefit illstruation ?

no, taken back cos no company logo