Aviva MyIncomePlus Review

Aviva MyIncomePlus has been discontinued. For further information and details about this plan, fill up the form below and let us advise you accordingly.

Aviva MyIncomePlus is a single premium product that allows you to use your savings to create a Guaranteed Monthly Income stream over a selected income period.

Aviva MyIncomePlus product details

Aviva MyIncomePlus is featured for highest income payout in our 3 Best SRS Retirement Plans in Singapore (2023 Edition)

• Life policy – Annuity
• Single premium from as little as S$23,825
• Offers a choice of
  1. Guaranteed Monthly Income payout over the Income Period of 10 or 15 years
  2. Full lump sum payout
  3. Partial lump sum payout, and receive the remaining as Guaranteed Monthly Income for the Income Period selected
  4. Re-invest the Guaranteed Monthly Income payout with Aviva at a non-guaranteed rate of 3% per annum
• Guaranteed returns of up to 1.81% per annum at policy maturity
• 100% Capital Guaranteed at the end of the Accumulation Period
• Guaranteed Issuance of the policy, no medical checks needed
• Available via Cash or Supplementary Retirement Scheme (SRS)
• Plan monthly income for your loved ones – spouse’s retirement or for your children while they’re studying
• Death and Terminal Illness cover, should the worst happen

Aviva MyIncomePlus is an SRS-approved retirement annuity plan.

Read about: 3 Best Retirement Annuity plans in Singapore for Wealth Accumulation (2023 Edition)

Features of Aviva MyIncomePlus at a glance

Cash and Cash Withdrawal Benefits

Cash value: Yes
Cash withdrawal benefits: No

Health and Insurance Coverage

Death: Yes
Total Permanent Disability: No
Terminal Illness: Yes
Critical Illness: No
Early Critical Illness: No

Health and Insurance Coverage Multiplier

Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Optional Add-on Riders

NA

Additional Features and Benefits

Yes.

Read about: How can I accumulate a million dollar (Realistically)

Read about: The Complete Guide to Retirement Planning (2023 Edition) *NEW*

Aviva MyIncomePlus may be suitable if you are looking for

Aviva MyIncomePlus may potentially be a good fit if the following matters to you:

• Regular cash payout
• Lump sum payout upon maturity
• Saving regularly over a period of time
• A one-time premium commitment with no further cash commitment
• Insurance options without medical underwriting
• Do not need access to the funds until retirement
• To potentially generate higher financial returns compared to bank accounts

Aviva MyIncomePlus may not be suitable if you are looking for

Aviva MyIncomePlus may potentially be a bad fit if the following matters to you:

• Health and Protection coverage
• High insurance coverage for Death or Terminal Illness
• Insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
• Potentially higher financial returns compared to a pure investment product.
• Insurance policy with a high surrender value in the early years of the policy.

Read about:  Why your retirement planning starts now

Further considerations on Aviva MyIncomePlus

• How is Aviva or Aviva MyIncomePlus investment returns based on historical performance?
• How does Aviva MyIncomePlus compare with Endowment policy from other insurance companies?
• Can Aviva MyIncomePlus fulfil my financial, insurance, health and protection needs?

The above information may not fully highlight all the product details and features on Aviva MyIncomePlus. Talk to us or seek advice from a financial adviser before making any decision about Aviva MyIncomePlus.

Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.

Read about: 8 Commonly made financial mistakes by Singaporeans

Read about: Effects of compounding returns on your investments

Where can I compare the payout and benefits of retirement plans and annuity policies?

Your retirement plans are meant to supplement your lifestyle and expenses in your golden years. Ensure your retirement plans matches the financial goal and objective you wish to achieve when you decided to talk a step back in life.

It is too late to regret once you have made your financial commitment. Specific products features, benefits and payout will differ more than you think across insurance companies.

And even worse, to know you can compare retirement plans and annuity policies here,  100% free of charges on the InterestGuru.sg platform.

Is Aviva MyIncomePlus suitable for me?

Contact InterestGuru using the form below. Our panel of licensed financial advisers will advise accordingly, based on your financial profile and protection needs.

All financial reviews and proposals provided are 100% free of charge. There will be no obligation to take up any proposed financial products or services in any way.

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Before you go...

Aviva MyIncomePlus may be a good fit towards your current financial goals. However, there could be way more plans out there with features and/ or benefits that could be more relevant to you at a lower cost.

Drop us a message and find out about customised options across multiple insurance companies. You deserve to get the best out of your hard-earned savings!

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