Aviva MyRetirement Choice Review
The complete Pros and Cons on Aviva MyRetirement Choice
Aviva MyRetirement Choice is a retirement plan and annuity policy that empowers you to retire whenever you want. Choose and plan for your retirement with plenty of income payout options to suit the retirement lifestyle of your dreams.
NOTE: Aviva MyRetirement Choice is no longer available and has been replaced by Aviva MyRetirement Choice II.
Aviva MyRetirement Choice product details
Aviva MyRetirement Choice is featured for Guaranteed Payout benefits in our 3 Best High Income Retirement Plans in Singapore (2023 Edition)
Aviva MyRetirement Choice is featured for High Retirement Income benefits in our 5 Best Insurance Plans for Retirement Income (2023 Edition)
Aviva MyRetirement Choice Rating on InterestGuru.sg: [usr=4.25]
Aviva MyRetirement Choice Popularity on InterestGuru.sg: [usr=4.5]
Read about: The Aviva MyRetirement series of retirement products
- Life policy – Annuity
- Premium Term from 5, 10, 15, 20 or 25 years
- Flexible payout period anywhere from 5 to 35 years
- Various payout options
- Guaranteed Monthly Income (GMI) + Potential Monthly Cash Bonus (MCB)
- Option to receive lump sum bonus upon reaching retirement age
- Option to convert lump sum bonus into an additional monthly income
- Re-invest monthly retirement income at a non-guaranteed rate of 3% p.a.
- Wide range of Premium waiver riders to waive premium for insurable events
- Cancer Premium Waiver
- Critical Illness Premium Waiver
- EasyPayer Premium Waiver
- Payer Critical Illness Waiver
- EasyTerm rider that pays out a lump-sum of up to 5 times of annual premium in the event of Death, Terminal Illness or Total permanent disability
- 2 times or double payout of Guaranteed Monthly Income (GMI) if you cannot do at least 3 of 6 ADL
- Enjoy hassle-free application with no medical check-ups
- 100% capital guaranteed at time of retirement
- Guaranteed returns of up to 2.63% p.a. (Excluding Non-Guaranteed returns)
Aviva My Retirement Choice is a common search alternative for Aviva MyRetirement Choice.
Read about: Why your retirement planning starts now
Read about: Effects of compounding returns on your investments
Features of Aviva MyRetirement Choice at a glance
Cash and Cash Withdrawal Benefits
- Cash value: Yes
- Cash withdrawal benefits: No
Health and Insurance Coverage
- Death: Yes
- Total Permanent Disability: Yes
- Terminal Illness: Yes
- Critical Illness: N.A
- Early Critical Illness: N.A
Health and Insurance Coverage Multiplier
- Death: N.A
- Total Permanent Disability: N.A
- Terminal Illness: N.A
- Critical Illness: N.A
- Early Critical Illness: N.A
Optional Add-on Riders
- EasyTerm
- Cancer Premium Waiver
- EasyPayer Premium Waiver
- Critical Illness Premium Waiver
- Payer Critical Illness Premium Waiver
Additional Features and Benefits
Yes.
For further information and details, fill-up the form below and let us advise accordingly.
Read about: How can I accumulate a million dollar (Realistically)
Read about: The Complete Guide to Retirement Planning (2023 Edition) *NEW*
Aviva MyRetirement Choice may be suitable if you are looking for
Aviva MyRetirement Choice may potentially be a good fit if the following matters to you:
- Regular cash payout upon your desired retirement age
- Lump sum payout upon maturity
- Saving regularly over a period of time
- 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 MyRetirement Choice may not be suitable if you are looking for
Aviva MyRetirement Choice may potentially be a bad fit if the following matters to you:
- Health and Protection coverage
- High insurance coverage for Death or Terminal Illness
- High insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
- A one-time premium commitment with no further cash commitment
- 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 should you choose a shorter premium term on your insurance policies
Further considerations on Aviva MyRetirement Choice
- How is Aviva or Aviva MyRetirement Choice investment returns based on historical performance?
- How does Aviva MyRetirement Choice compare with retirement plans and annuity policies from other insurance companies?
- Can Aviva MyRetirement Choice fulfill my financial, insurance, health and protection needs?
The above information may not fully highlight all the product details and features on Aviva MyRetirement Choice. Talk to us or seek advice from a financial adviser before making any decision about Aviva MyRetirement Choice.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Read about: 3 best Retirement plans and Annuity policies in Singapore (2023 Edition) *Updated*
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 MyRetirement Choice suitable for me?
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