Comparing Annuity Policies

Thinking of retiring? Let us help with our comparison table on annuities.

iFAST Insurance Team Mar 27, 2018 3471

ePREMIER eternity presto
TM Retirement GIO
TM Retirement PaycheckLife
RetireReady
Guaranteed Life Annuity
Insurer
Etiqa Insurance
Tokio Marine
Tokio Marine
Manulife
NTUC Income
Premium payment term
Single Premium
5, 10 or 15 years
5, 10 or 15 years
5, 10 or 20 years or single premium
Single premium
Retirement/ Pay-out age
Starts from first policy anniversary
Age 55, 60 or 65
Age 55, 60 or 65
Age 55, 60, 65 or 70
Pay-out can either start immediately or be deferred to no later than age 65. However, for plans bought with SRS, annuity pay-outs cannot commence before the prevailing retirement age.
Pay-out term
Lifetime
Lifetime, even if insured lives beyond 100 years old
Lifetime, even if insured lives beyond 100 years old
Up to 80 or 90 years or for life
Lifetime
Frequency of pay-outs
Monthly
Annually
Monthly
Monthly
Choice of monthly, quarterly, half-yearly or yearly
Payment method
Cash
Cash
Cash
Cash or SRS (only for single premium)
Cash or SRS
Surrender value
Surrender value decreases after pay-out commences
Surrender value is equivalent to 100% of total premiums paid at pay-out age and will remain level even after pay-out age
Surrender value decreases after pay-out commences
Surrender value decreases after pay-out commences
Enjoy immediate liquidity of 80% of your single premium paid
Option for Joint-life
No
No
Yes
No
No
Additional benefits
1) Accumulate cash pay-outs with insurer to earn interest.

2) Lifetime additional guaranteed cash benefit every 15 years

-
-
1) Accumulated annual bonus can either be paid in a lump sum at retirement age or as additional monthly income in addition to your guaranteed monthly income.

2) Loss of independence benefit provides 2X of guaranteed monthly income if loss of independence occurs during income pay-out period.

3) Future premiums waived upon Total Permanent Disability (TPD).

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Breakdown of pay-outs
Comprises of both guaranteed and non-guaranteed pay-outs. Monthly income increases with policy year.
Comprises of both guaranteed and non-guaranteed pay-outs
Comprises of 50% guaranteed monthly pay-outs and 50% non-guaranteed annual bonus
Comprises of both guaranteed and non-guaranteed pay-outs
Comprises of level guaranteed pay-outs and increasing non-guaranteed pay-outs
Coverage
Death
Death
Death
Death
Death

For assurance: ePREMIER eternity presto

Receive monthly pay-outs and enjoy a peace of mind knowing that you have access to 80 per cent of your single premium should the need arise.

For a non-reducing surrender value: TM Retirement GIO and ePREMIER eternity presto

Upon reaching pay-out age, surrender value remains level throughout policy.

For long term care benefits: RetireReady

Future premiums are waived upon TPD. Also, insured will receive 2 times of the guaranteed monthly income given if he/she is unable to perform at least 3 out of the 6 Activities of Daily Living (ADLs).

For increasing pay-outs: Guaranteed Life Annuity and ePREMIER eternity presto

Receive monthly pay-outs that increase with age thus providing the insured with an increasing pay-out to combat inflation.

Available Annuity Plans:

Etiqa Insurance - ePREMIER eternity presto

Manulife - RetireReady

NTUC Income - Guaranteed Life Annuity, Sail, VivoCash

Tokio Marine - TM Retirement GIO,TM Retirement Paycheck Life, TM Retirement Secure, TM Retirement SP

How FSMOne can help you get on track

Our team of friendly advisers are able to help you review your financial objectives, long term commitments, and offer you investment and insurance advice specific to your needs. If you would like assistance in reviewing your financial and protection portfolio, or simply to get a quote for an insurance plan,

Contact Our Advisors Here >

Available Products on FSMOne Insurance

Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment


from Etiqa Insurance, Manulife, NTUC Income and Tokio Marine Life Insurance


*Please check with our advisory team if the product you want is available on FSMOne Insurance


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