Key Features for Our Top Retirement Products
Attractive long-term yields
Choice of premium terms
High guaranteed cash benefit
Capital guaranteed options
Online application
Why Apply for
Retirement Income Plans
On average, households in Singapore spend $4,906 per month on goods and services1. Inflation on the cost of food has increased at an inflation rate of 2.9% from 2010 to 2019.2
CPF Life is currently estimated to pay out between S$730 to S$2,000 per month, starting from age 65, depending on how much you have in your CPF when you retire. These payments can help supplement your income, but may not be enough to support the lifestyle that you want.
Put your hard-earned cash to work by investing in a retirement income plan. Key advantages of insurance retirement plans:
- capital guaranteed plans available
- guaranteed income to provide you with confidence in providing for your daily needs
- bonus income/benefits to beat inflation and more!
Apply now and enjoy our special InsureDIY promotion! [partial0a235dc3-a9cd-409f-a9eb-c0a9a3afecbd]
Not ready to get a quote? Reserve our current promotion by registering above! |
Top Retirement Plans in Singapore: Which One is Right for You?
We have compared the most popular retrement plans from our partners here. We have split out the comparison into plans that provide a regular cash payout and plans that aim to build up a lump sum for your retirement. Some plans have a partial withdrawal feature that will enable you to drawdown on your plan without surrendering the whole plan.
Hassle-free application and guaranteed issuance (No medical underwriting requirements!)
Plans to build up regular retirement income
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i-Retire (II) (Cash Only) |
Gro Saver Flex Pro (Cash or SRS) |
Gro Retire Flex Pro (Cash or SRS) |
Flexi Life Income II (Cash or SRS) |
Flexi Retirement II (Cash only) |
| The plan is great for | ||||
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| Policy terms available | ||||
| Sum of premium, accumulation and income terms | 10 to 120 years depending on premium term | Single Premium: 5 to 50 years Regular Premium: 10 to 50 years |
Lifetime | 5 to 35 years |
| Cash dividends start in year (accumulation period) | ||||
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Choice of accumulation and income periods: Accumulation period: 5 to 25 years Income period: 10, 20 or 30 years |
None. Payout on maturity/surrender. |
Choice of accumulation period: Single Premium: 5 to 50 years Regular Premium : 10 to 50 years The payout period of 10, 20 years or till age 100 begins immediately after the end of the accumulation period. |
Choice of: Single Premium: 4 to 20 years Regular Premium (3 Years): 2 to 20 years Regular Premium (Others): 0 to 20 years
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Choice of: Regular Premium (5 Years): 5 to 40 years Regular Premium (Others): 0 to 40 years |
| Return @4.25% illustrated rate of return (any Cash Dividends are assumed to be paid out)1 | ||||
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End of: Year 25: 0.2% Yield @ maturity: 4.24% |
End of: Year 20: 3.46% |
End of: Year 20: 0.68% |
End of: Year 20: 2.18% |
End of: Year 20: 2.18% |
| Capital guaranteed | ||||
| Available | Available | Available | Available | Available |
| Premium terms available | ||||
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Single premium, 5 years and 10 years |
Single premium or regular premium payment term of 5, 10, 15, 20, 25 or 30 years |
Single premium or regular premium payment term of 5, 10, 15, 20, 25, 30, 35, 40 years |
Single premium or regular premium payment term of 3, 5, 10, 15, 20 or 25 years |
Regular premium payment term of 5, 10, 15, 20 or 25 years |
| Download brochures | ||||
| Brochure | Brochure | Brochure | Brochure | Brochure |
Plans to build up a large lump sum for retirement
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Star Secure Pro (Cash Only) |
Gro Saver Flex Pro (Cash or SRS for Single Premium) |
Singlife Whole Life (Cash Only) |
i-Secure Legacy (II) (Cash Only) |
| Premium terms available | |||
| 5, 10, 15, 20, 25 or 30 years, or up to age 64 | Single premium or regular premium payment term of 5, 10, 15, 20, 25 or 30 years | 10, 15, 20 or 25 years, or up to age 65 | 5, 10, 15, 20 or 25 years |
| Guaranteed benefit multipliers to increase death benefit | |||
| 100%, 200%, 300%, 400%, 500% | NA |
100%, 200%, 300%, 400% |
200%, 300%, 400%, 500% Multipler will reduce by 10% per year for the next 5 years after the guaranteed benefit expiry age and remain at 50% thereafter. |
| Guaranteed benefit expiry age (Age Next Birthday) | |||
| 75 or 80 | NA | 65, 70 or 75 | 76 or 86 |
| Estimated Surrender Value per $1,000 monthly premium, entry age 40 with a premium term of 15 years | |||
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@75: $384,128 @85: $564,592 |
@75: $422,023 @85: $629,542 |
@75: $367,041 @85: $529,928 |
@75: $424,154 @85: $639,947 |
| Brochure | Brochure | Brochure | Brochure |
Not ready to get a quote? Reserve our current promotion by registering above! |
Private Retirement Schemes in Singapore: Pros and Cons
In Singapore, the CPF LIFE is an annuity scheme that provides Singaporeans with a monthly payout for life, starting from the age of 65 or a deferred payout age. Participants can choose from various plans, such as the Standard Plan or the Basic Plan, depending on their preferences and desired payout amounts. Whilst this plan provides attractive lifetime payments, the maximum CPF savings that you can use for CPF LIFE is the prevailing Enhanced Retirement Sum (ERS), plus any accumulated interest in your Retirement Account. The current ERS is $298,200.
This means that any addition retirement funding will have to be done through private financial instruments such as Retirement Insurance Plans. Retirement Insurance Plans also give you the option of adding on critical illness riders which are important as you age.
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Retirement Plans FAQ
1. Can the Cash Dividends be accumulated with the company to accumulate interest?
Yes, for some products, you may choose to accumulate the cash dividends with the insurer. Please check with us on the prevailing accumulation rate.
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 insurer 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
1 Household Expenditure Survey 2017/2018, www.singstat.gov.sg/modules/infographics/hes/household-expenditure
2 Chicken rice could cost $10.60 in 2050?! Costs that can destroy your retirement, www.bettertradeoff.com/news/article/
chicken-rice-could-cost-usd10-60-in-2050-costs-that-can-destroy-your
3 The returns include non-guaranteed benefits and are based on the illustration rate of 4.25% p.a.. The returns may include all promotions. The returns will ultimately depend on your own age/gender/product premium and benefit term profile. The rates shown above are meant to be illustrative. Please request for a quote by filling in the online form for your personal quotation.
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.
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