Due to increasing living standards and inflation, the cost of financing your golden years is expected to increase, making it imperative that you have enough money in retirement. A dependable retirement insurance plan is one of the finest strategies to guarantee financial security in retirement. Your retirement years can be enjoyed without worrying about money. A retirement insurance plan guarantees a stream of income and covers medical costs.
When we retire, we probably wish to travel more to make the most of the years if we are still physically fit and in good health. In the first ten to twenty years after quitting work, this is normal. Additionally, it is only normal to look for things to do with our spare time, which could increase costs.
Travelling, spending time with loved ones, and engaging in hobbies rank as the top three retirement activities, according to retirement survey results. Not much of that is inexpensive.
You decide when to retire. RetireSavvy, a genuinely adaptable digital retirement plan, adjusts to your changing financial objectives. Create a plan that suits your needs and start preparing for your retirement years. And take pleasure in having the freedom to modify your insurance at a later time when your needs change.
RetireSavvy
RetireSavvy, a genuinely adaptable digital retirement plan, adjusts to your changing financial objectives. Reasonably priced premiums: Pay just S$128.74 a month for a 10-year plan. Create a plan that suits your needs and start preparing for your retirement years. As an alternative, you may decide to purchase a 3-year, 5-year, or single premium plan.
- You can modify your insurance at a later time when your needs change.
- Complete control: Whenever you have additional money to spare, decide to add more by making a premium top-up.
- Promised capital: Get all of your capital back after the fifteenth policy year or once you reach your chosen retirement age, whichever comes first.
- RetireSavvy returns: The policy will yield guaranteed returns in addition to your capital, as well as possible non-guaranteed rewards.
- Adaptably flow: During the duration of your policy, adjust your plan to meet your needs for retirement and protection:
- Select a later age for retirement: Modify the time frame for the income payout.
- By modifying your retirement income rate, you can choose the exact amount of lump sum retirement payout and regular retirement income that best suits your needs.
- Stand firm in the face of uncertainty in life by 105% of the premiums paid in a lump payment in the event of a terminal illness or death (before the revenue payout period)
- In the event of a layoff, a lump sum payment equal to 20% of your annual premium amount or 50% of your single premium amount will be made. For further information, see our FAQs.
- The forgiveness of all subsequent premiums (for normal premium plans only) in a situation of total and permanent incapacity
- An option to suspend premium payments while maintaining the validity of your policy in times of need (available exclusively for normal premium plans)
Although most Singaporeans understand the value of starting early to prepare for retirement, few do so. As per the Q2 2015 Manulife Investor Sentiment Index (MISI1), a mere 33% of respondents initiated retirement planning throughout their 30s, while 25% initiated it during their late 20s.
