Retirement - Legacy Planning

Provide for your retirement 
Receive up to 4.2% p.a. in monthly cash payouts &
leave lifelong income for your children

 

 

Get your Legacy Retirement Quotation

I would like to choose my cover by:

This is the Monthly Cash Benefit you will receive from the 5th Policy Anniversary for as long as the life insured is alive and while the policy is in-force. To estimate the premium amount, a Monthly Cash Benefit of $1,000 will require an investment amount of about $280,000.

This is the single premium you would like to pay for such a product. A higher single premium will mean a higher Monthly Cash Benefit. For example a Single Premium of S$200,000 will provide a lifetime Monthly Cash Benefit of around $700.  

Email Address
Handphone No.
The Life Insured of this policy is

The Monthly Cash Benefits will payout from the 5th Policy Anniversary and every month thereafter as long as the Life Insured is alive and the policy remains in-force. Once the policy is issued, the Life Insured cannot be changed. 

First Name of Life Insured
Last Name of Life Insured
Date of Birth Life Insured
Gender of Life Insured
Smoker Status of the Life Insured

About the Policyowner

The Policyowner of this policy is

As you are applying for this product for your Grandchild, the Policyowner at issuance can be your Child (i.e. Mother or Father to your Grandchild) or your Grandchild (if he/she is at least age 19 and above). We will arrange for an assignment of the policy to yourself, which transfers the ownership rights of the policy to you. You can also be the Payor of the policy. The Monthly Cash Benefits will be paid to the Assigned Owner (i.e. yourself) from the 5th Policy Anniversary and every month thereafter as long as the Life Insured is alive. The Assigned Owner can be changed at any point over the policy term and the policy can be assigned back to your Child or to your Grandchild. There are no restrictions on the number of Policyowner changes that can be effected.

The Policyowner of this policy is

The Monthly Cash Benefits will be received by the Policyowner from the 5th Policy Anniversary and every month thereafter as long as the Life Insured is alive. The Policyowner can be changed at any point over the policy term and the policy can be assigned back to your Child or to your Grandchild. There are no restrictions on the number of Policyowner changes that can be effected.

Full Name of Policyowner
Date of Birth Policyowner
Gender
Smoker Status of Policyowner

About You

Do you want the policy to be assigned to you?
Are you the Payor of the Policy?

By choosing to assign the policy to yourself, you will receive the Monthly Cash Benefit once it starts paying out after Policy Year 5. 

Full Name
Date of Birth
Do you smoke?
Where did you hear about us?
Enter your friend's Referral Code or email address

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Agreement

 

Key features for Our Top 2 Legacy Retirement Products
NTUC Income: Wealth Solitaire & China Taiping: Infinite Harvest II

cash benefit

 

Up to 4.27% p.a. cash benefit after Year 5.

pass on generations

 

Pass on cash benefit to future generations

capital guaranteed

 

Highest guaranteed cash benefit

Single Premium & Guaranteed acceptance

 

Single Premium & Guaranteed acceptance

InsureDIY mobile application

 

Online application

Why Apply for  
Wealth Solitaire or Infinite Harvest II

 

If you are looking to secure your income in your retirement and pass on lifelong income to your children/grandchildren, you can consider NTUC Income's Wealth Solitaire or China Taiping's Infinite Harvest II. Why these products are great:

  • Cash benefits of up to 4.2% p.a. of your single premium after Year 5
  • Highest guaranteed cash benefit in the market
  • Pass on this lifelong income to the next generation. Maximise the payouts!

Check out our side by side comparison below and then get started by getting a quote above!

Apply now and enjoy our special InsureDIY promotion! Get up to $500 cashback on your application. Valid for successful applications up to 30 Jun 2021.

Wealth Solitaire & Infinite Harvest II

Hassle-free application and guaranteed issuance (No medical underwriting requirements!)

Features

SG Logo INCOME

Wealth Solitaire

10 SG Logo ChinaTaiping

Infinite Harvest II

Expected cashback after Year 5

4.2% p.a. of Single Premium

(1.56% p.a. guaranteed + 2.64% p.a. non-guaranteed)

4.2% p.a. of Single Premium

(1.58% p.a. guaranteed + 2.62% p.a. non-guaranteed)

Potential for Capital Back on Surrender

Yes, including non-guaranteed benefits

Yes, including non-guaranteed benefits

Surrender Value

Flat at: 80% Single Premium

Day 1: 80% Single Premium, keeps growing every year.

Policy Term 

 Up to Age 100

Whole of Life

Leave a legacy of Lifelong Income to future generations

Transfer policy ownership to your child to continue to receive the cash benefits.

Transfer policy ownership to your child to continue to receive the cash benefits.

Maturity Benefit

105% of Single Premium + Terminal Bonus

Not applicable as policy pays out monthly cash benefit for life

Redeposit Facility

Yes, prevailing interest rate is 3.25% p.a. 

Yes, prevailing interest rate is 3.5% p.a.

Others

 Special cash benefits payable at policy year 21 and policy year 31.  

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Downloads

Wealth Solitaire brochure

Infinite Harvest II brochure

Case Study - Payout of Monthly Cash Benefit

Ms. A, age 35 signs up for a legacy retirement product with a Single Premium of $200,000. She names her daughter, Miss B, who is aged 1 as the Life Insured. From the start of the 6th policy year, the policy begins to pay monthly cash benefits. 

  


Year 0

Ms. A purchases a product with a Single Premium of $200,000 with her daughter as the Life Insured


Mrs E

Ms. A (Age 35)

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 Year 6

As the Policy Owner, Ms. A starts enjoying the Monthly Cash Benefit. 

She chooses the Cash Payment option and withdraws it every month. (Click here to see a Case Study with the Cash Accumulation option.)


Mrs E

Ms. A (Age 41)

Policy Owner

NTUC Income

Wealth Solitaire

Monthly Payment

Guaranteed: $260 

Non-Guaranteed: $440

Total Monthly Payment: $700

China Taiping

Infinite Harvest

Monthly Payment

Guaranteed: $295 

Non-Guaranteed: $416

Total Monthly Payment: $711

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 Year 10

In the event that Ms. A decides to surrender her policy, the relevant policy values as at the end of policy year 10 are:


Mrs E

Ms. A (Age 45)

Policy Owner

 

NTUC Income

Wealth Solitaire

China Taiping

Inifinite Harvest

Guaranteed Surrender Value

$163,120

$200,066

Non-Guaranteed Surrender Value

(Illustrated at 4.75% investment return)

$48,880

$12,599

Total Surrender Value

$212,000

$212,665

Total Monthly Cashback Withdrawn

$84,000

$85,399

Total Payout Received

(Monthly Cashback Received + Surrender Value)

$296,000

$298,064

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 Year 21 & Year 31

Ms. A receives the Special Cash Benefit in the 241st and 361st policy month for her NTUC Income Wealth Solitaire policy, equivalent to 1.56% of the Single Premium invested per Special Cash Benefit paid.  

She chooses to withdraw this Special Cash Benefit in full. 


Mrs E

Ms. A (Age 56, Age 66)

Policy Owner

NTUC Income

Wealth Solitaire

Special Cash Benefit 

Month 241: $3,120

Month 361: $3,120

China Taiping

Infinite Harvest

Not Applicable

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Year 40

Ms. A (age 75) changes the Policy Owner to Miss B, her daughter. 
Miss B continues to receive the same Monthly Cash Benefit. 

 

NTUC Income 

Wealth Solitaire

China Taiping

Infinite Harvest

Guaranteed Surrender Value

 $163,120

$215,627

Non-Guaranteed Surrender Value (Illustrated at 4.75% investment return) 

 $125,880

$115,598

Total Surrender Value* at the end of this policy year 40

 $289,000

$331,225

Total Monthly Cashbacks withdrawn 

$336,000

$341,280

Total Payout Received 

(Monthly Cashback Received + Surrender Value)

 $625,000

$672,505


Ms F

 

Miss B (Age 41)

Policy Owner, the Insured

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Miss B keeps enjoying the Monthly Cash Benefit even after Ms. A passes away.

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Year 85

Scenario 1: Death of Miss B at Age 86

Assuming Miss B passes away at age 86, her children (Ms. A's grandchildren) will receive a death benefit and the policy terminates thereafter.  

 

NTUC Income 

Wealth Solitaire

China Taiping

Infinite Harvest

Guaranteed Death Benefit

 $213,120

$241,269

Non-Guaranteed Death Benefit (Illustrated at 4.75% investment return) 

 $544,080

$313,596

Total Death Benefit at Age 86

 $757,200

$554,865


Ms F


Miss B (Age 86)

Policy Owner, the Insured

   

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Year 99

Scenario 2: Miss B survives to Age 100

Miss B will continue to receive the Monthly Cash Payout until Age 100 for NTUC Income's Wealth Solitaire, upon attainment of Age 100, she will receive a Centennial Maturity Benefit.

Miss B continues receiving the Monthly Cash Payout for the rest of her life under China Taiping's Inifinite Harvest. Upon Death, a Death Benefit will be paid out. Assuming she passes away at Age 100, the Death Benefit is $630,072 (Guaranteed = $250,476 + Non-Guaranteed = $379,596)

 

NTUC Income 

Wealth Solitaire

Maturity Benefit at Age 100

China Taiping

Infinite Harvest

Death Benefit at Age 100

Guaranteed Benefit

 $213,120

$250,476

Non-Guaranteed Benefit (Illustrated at 4.75% investment return) 

 $1,067,280

$379,596

Total Maturity / Death Benefit at Age 100

 $1,280,400

$630,072

Total Monthly Cashbacks withdrawn

$789,600

$802,008

Total Payout Received 

(Monthly Cashback Received + Surrender Value)

$2,070,000

$1,432,080


Ms F


Miss B (Age 100)

Policy Owner, the Insured

 

* For reference only, all figures shown in the graph above are rounded to the nearest whole number. The figures include non-guaranteed components illustrated assuming that the insurers earn an investment return of 4.75%. 

Product Analysis

What are the key strengths and weaknesses of these two Legacy Retirement products?

 

 

1 SG Logo INCOME

10 SG Logo ChinaTaiping

Wealth Solitaire

Infinite Harvest

Key Strengths

 Higher Total Payout at the older ages 

1. Higher Total Guaranteed + Non-Guaranteed Surrender Value at older ages, approximately after Policy Year 70-75 

2. Higher Total Guaranteed + Non-Guaranteed Death Benefit at the older ages, approximately after Policy Year 70-75. 

3. Higher Maturity Payout when the Life Insured attains age 100. 

Higher Guarantees  

1. Slightly higher Guaranteed Monthly Cash Benefit Component 

2. Higher Guaranteed Surrender Value.

  • Day 1 Surrender Value of 80%. This increases to be at least 100% of the Single Premium amount by Year 10, providing a Capital Guarantee by Year 10. 
  • Guaranteed Surrender Value continues to grow yearly at a rate of 0.25% p.a. after policy year 10, for as long as the policy in-force.  

3. Higher Guaranteed Death Benefit. The Guaranteed Death Benefit Component grows yearly. 

Higher Total Payout in the policy years before 70-75 on Surrenders and Death as Terminal Bonuses are higher than NTUC Income's Wealth Solitaire in the early years. 

 

Key Weaknesses

Does not provide Capital Guarantees as the Guaranteed Surrender Value remains at 80% of Single Premium throughouth the policy term. 

Guaranteed Death Benefit stays level and does not increase throughout the policy term. 

Total Non-Guaranteed components make up a large component of the Surrender, Death and Maturity Payout. This is mainly comprises of Terminal Bonuses and could be reduced at any time by the insurer.  Unlike Reversionary Bonuses, Terminal Bonuses do not vest regularly. 

Total Non-Guaranteed Components are lower in the later years after Policy Year 70-75 relative to NTUC Income's Wealth Solitaire. This means the total Surrender / Death Benefits are not as high. 

Who is this product ideal for

Customers who prefer a strong and stable local insurer brand name and are looking to hold the product for a long term in order to enjoy the high surrender or death benefits after policy years 70-75. 

Customers who prefer a product that can provide higher guarantees and guaranteed capital returns in the early years of the policy. 

* Only applicable if your friend has not bought any insurance policy through InsureDIY before. DIY$ will only be awarded after your friend's free-look period. Not applicable for parents buying i-Secure for their child/children.

Exclusive InsureDIY Promotion

Get up to $500 cashback on your policy! Valid for sucessful applications up to 30 Jun 2021.

Single Premium Cash Rebate / DIY Points
$300,000 and above $500
$100,000 to $299,999 $250


 You can now also use your existing DIY$ to get cash rebates on Wealth Solitaire and Infinite Harvest and get 25% boost up on your points!

Redeemable Cash Rebate
DIY$8 $10
DIY$40 $50
DIY$80 $100

Referral Program

i-Secure is also eligible for the Refer a Friend program. Refer your friends and family for i-Secure and get DIY$10 for each referral.

DIY$ can be exchanged for vouchers including InsureDIY vouchers, NTUC Fairprice and Cold Storage vouchers. Check out our rewards catalogue here.

How to refer:
Simply ask your friend to select "Referral" during the application process and key in your email address or referral code when they apply for i-Secure here. 

Referral Reward
DIY$10 each

 

* Only applicable if your friend has not bought any insurance policy through InsureDIY before. DIY$ will only be awarded after your friend's free-look period. Not applicable for parents buying i-Secure for their child/children.

Here are some common questions about 

Wealth Solitaire and Infinite Harvest

1. Can the Monthly Cash Benefit be accumulated with the company to accumulate interest?

The plan is designed to pay out the MCB. However, the policy owner may choose to accumulate the Monthly Cash Benefit with the respective insurers at a non-guaranteed interest rate. China Taiping's current non-guaranteed interest rate is 3.5% p.a. while NTUC Income's current non-guaranteed interest rate is 3.25% p.a..

 

2. Can the policy owner request to change the Monthly Cash Benefit from a paid-out option to accumulated option and vice versa after the policy is incepted?

Yes, the policy owner may request to change the paid-out option to accumulated option anytime during the payout period and vice versa.

 

3. Can the accumulated Monthly Cash Benefit be withdrawn at any time?

Yes. Partial or full withdrawal of the accumulated Monthly Cash Benefit is allowed at anytime during the policy term.

 

4. Does the policy owner need to provide proof of survivorship on the life insured to receive the Monthly Cash Benefit?

The insurer reserves the right from time-to-time to request for satisfactory proof that the life insured is alive before paying the Monthly Cash Benefit.

 

5. What happens if the insuerer is not notified immediately of the life insured’s death and continues to pay out the Monthly Cash Benefit?

Any Monthly Cash Benefit paid on or after the date of the life insured’s death will be deducted from the death benefit proceeds

 

6. Can I change the Life Insured?

No, once the policy is incepted, the Life Insured cannot be changed. 

 

7. What is the purpose of appointing different Policy Owners and is there a limit to the number of times the Policy Owner can be changed?

The Policy Owner will be the person receiving the Monthly Cash Benefits. No, there is no limit to the number of times the Policy Owner can be changed. 

 

8. I want to purchase this plan with the intention of passing on my legacy to my Grandchild. How can I do this? 

This can be done by setting up the policy with your Grandchild as the Life Insured and your son/daughter (your Grandchild's parent) as the Policy Owner. The policy can immediately be assigned* to yourself upon inception. This transfers the ownership rights to you and will mean that the Monthly Cash Benefits will be received by yourself. This allows you to enjoy the Monthly Cash Benefits in your retirement. 

You can also be the payor of the policy, and this will be clearly stated in the policy documents. 

The policy can be assigned back to your son/daughter at any point over the policy term, and even directly to the your Grandchild if he/she is above the age of 18. 

* Subject to T&Cs on absolute assignment. 

InsureDIY is a Broker licensed by the Monetary Authority of Singapore and is an Exempt Financial Adviser. This advertisement has not been reviewed by the Monetary Authority of Singapore.