Retirement Plan for Single, 55 years
- Thread starter bizgene
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Based on ANB 56,
AXA RH+ @ $33,307/year for 5 years
Above after 17% perpeptual discount.
Annual guaranteed $12k payout, but from age 70 onwards. For 20 years.
If based on ANB 55,
AXA RH+ @ $34,447/year for 5 years
Above after 17% perpeptual discount.
Annual guaranteed $12k payout, from age 65 onwards. For 20 years.
Comes with TPD benefits.
boredboiboi
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From company M
Base on age next birthday 56
If base on age next birthday 55 will be cheaper
Guaranteed monthly payout $1000/month excluding bonus from 65 for 20 years
Pay 5 years premium @ $36002.02/year
Single premium @$169392
Guaranteed monthly payout $1000/month excluding bonus from 70 for 20 years
Pay 5 years premium @ $30534.34/year
Single premium @$155089
Covers both 2 & 3 ADLs
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BBCWatcher
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What's the logic in these fixed term payouts?
Goesaround
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What about the premium for anb 56 that payout at 65 for 20 years?
Sadly for ANB 56 Pay 5, doesn't allow as there is a min 5 years waiting period. Unless doing via lumpsum single premium
So possible to receive guaranteed monthly payout of $1000 and non guaranteed of $xx. In total I should be able to get at least $1200 per month? When will the bonus be pay out?
Premium is still high as compared with Company M despite perpetual discount.
Can anyone also advise for Aviva retirement plan?
boredboiboi
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Together with the monthly payout. $1000 is the min monthly. Bonus depends on underlying par fund.
So when will I get the bonus? Is it lump sum or monthly together with monthly payout?
I will say depending if non-guaranteed bonus, credit rating and other factors are your concern
As non-guaranteed bonus amount may differ, and par fund performance and insurers' bonus declaration may differ too
boredboiboi
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At age 65 or 70 there is a lump sum if u wan to take out, if not u can spread out to monthly income over the years.
boredboiboi
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I can, premium is slightly higher.
But aviva is only having 3 adls
Aviva premium is $36160 per year for 5 years and need to accumulate for 5 years.
Your income will only start at age 66
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How come yearly premium is lower than single premium? I thought it should be the other way round?
Are you an independent financial planner?
I am looking for retirement plan that has highest IRR and long established company. I believe AXS and Manualife are established company.
boredboiboi
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I am not independent FA. I have encounter yearly premium cheaper than single premium before. Their internal calculations i am not able to answer.
Definitely. For ANB 55 and 5 years waiting period, AXA IRR is at 1.94% and up to 3.71% if including non-guaranteed bonus.
Yes, Full minimum sum. Is there a better way to maximise CPF
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