Insurance

Comparing Annuities (2019 Edition)

Updated on 11/02/2019

  • Phuan Wei Ning
  • |
  • Published on 11 Feb 2019

TM Retirement GIO Plus
TM Retirement Paycheck Life
RetireReady Plus
Sail
RevoRetire
ePREMIER eternity presto
Insurer
Tokio Marine
Tokio Marine
Manulife
NTUC Income
NTUC Income
Etiqa Insurance
Entry age
Age 40 to 65 ANB
Age 19 to 60 ANB
Age 18 to 60 ALB
Age 0 to 60 ALB
Age 20 to 65 ALB
Age 1 to 70 ANB
Premium payment term
5 years
5, 10 or 15 years
5, 10, 15 or 20 years or single premium
Single premium
5 or 10 years or up to 5 years before the end of accumulation period
Single premium
Retirement pay-out age
Starts from 5th policy anniversary
Age 55, 60 or 65
Age 50, 55, 60, 65 or 70
Age 55, 60, 62 or 65 ALB or choose to commence in 10, 15, 20, 25 or 30 years from start of policy
Age 50, 55, 60 or 65 or after an accumulation period of 10 or 15 years
Starts from 1st policy anniversary
Pay-out term
Lifetime
Lifetime
Lifetime or a period of 5, 10, 15 or 20 years
20 years or in a lump sum
10, 20 or 30 years
Lifetime until age 100
Frequency of pay-outs
Yearly
Monthly
Yearly
Choice of monthly, quarterly, half-yearly or yearly
Monthly
Monthly
Payment method
Cash
Cash
Cash or SRS (for single premium only)
Cash or SRS
Cash
Cash
Guaranteed acceptance
Yes
Yes
Yes
Yes
Yes
Yes
Surrender value
Surrender value continues increasing even after pay-out commences
Surrender value decreases after pay-out commences
Surrender value decreases after pay-out commences
Immediate liquidity of 80% of your one-off premium as surrender value. Surrender value decreases after pay-out commences
Surrender value decreases after pay-out commences
Immediate liquidity of 80% of your one-off premium as surrender value. Guaranteed surrender value remains level even after pay-out commences
Option for Joint-life
No
Yes
No
No
No
No
Additional benefits
-
1) Receive additional non-guaranteed bonus in the form of surrender value or as additional monthly income
1) Receive additional non-guaranteed bonus in lump sum at retirement age or as additional monthly income
2) Additional income for loss of independence
3) Maturity benefit
4) Flexibility to adjust income pay-out period if needed
5) Future premiums waived upon TPD
-
1) Accumulate cash with insurer to receive interest rates and lump sum at maturity
2) Disability care benefit (waives all future premiums and provides additional lump sum benefit + additional monthly cash benefit)
1) Accumulate cash with insurer to receive interest rates and lump sum at maturity
2) Additional cash bonus every 15th anniversary
Coverage
Death and Terminal Illness
Death
Death
Death and TPD (before age 70)
Death and accidental death
Death

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For capital guaranteed security: TM Retirement GIO Plus and ePREMIER eternity presto

Surrender values remains level and/or increases throughout policy term even after pay-out commences.


For high guaranteed income: RevoRetire and TM Retirement Paycheck Life

Receive high guaranteed cash benefit on top of the non-guaranteed bonuses.


For increasing pay-outs: Sail and ePREMIER eternity presto

Fight inflation with these plans that offer pay-outs that increase with age.


For long term care benefits: RevoRetire and RetireReady Plus

Receive disability care benefit with RevoRetire in the event of an accidental disability while RetireReady Plus offers additional income for loss of independence.


For an early commencement of pay-outs: TM Retirement GIO Plus and ePREMIER eternity presto

Start receiving pay-outs from the 5th and 1st policy anniversary for the respective policies.


Available Annuity Plans:

Manulife - RetireReady Plus

NTUC Income - Sail,RevoRetire

Tokio Marine - TM Retirement GIO,TM Retirement GIO Plus,TM Retirement Paycheck Life, TM Retirement Secure, TM Retirement SP


Annuities are suitable for:

  • Retirement planning
  • Receiving a lifetime stream of income
  • Supplementing CPF Life and any retirement savings


Annuities are not suitable for:

  • Death or health coverage


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For specific insurance enquiries, you can contact us here.


Available Products on FSMOne Insurance

Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment


from Etiqa Insurance, Manulife, NTUC Income and Tokio Marine Life Insurance


*Please check with our advisory team if the product you want is available on FSMOne Insurance


Interested to learn more? Check out these articles:

Are You Really Allowed To Retire At 62?

The Beginners Guide To Understanding Insurance

Best Car Insurance Singapore

The Secret To Retirement Happiness

4 Reasons To Not Use A Free Travel Insurance

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