Investments

Investment Linked Plans - MyLifeInvest

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Everyone agrees that insurance is important for many reasons. Be it to protect yourself against unfortunate circumstances or to gain better returns on cash that earns little interest in the bank, most people know very well that they must have insurance.

Some think they can’t afford it because their fixed expenses are high. Or, they’d rather invest whatever surplus money they have, and have the flexibility to withdraw and spend whenever they need.

And some may be worried that the insurance plan they commit to may no longer suit them when their life stage changes – like when they get married, buy a house, change jobs or have children.

So, what if there is a plan that fulfils your needs in one package?

Introducing MyLifeInvest.

 

MyLifeInvest is a smart and flexible option for protection coverage as well as investment opportunities.

For a minimum outlay of S$1001 per month, you can fulfil the obligation of insurance protection while investing your money at the same time. As you go through different life stages, you can adjust the protection and investment mix during the policy term.

Key benefits:

  • Lifetime coverage for Death and Terminal Illness, and Total and Permanent Disability up to age 702
     
  • Option to increase the protection coverage without evidence of good health when your life stages change3
     
  • Enjoy the potential returns to grow your wealth, while you stay protected4
     
  • Flexibility to reduce your coverage to zero5 to maximise investment portion for returns
     
  • Flexibility to make unlimited withdrawals from your policy when you need the money6
     
  • Enjoy Premium Rewards – Get extra 5% of premium every 5 years from the 10th policy year7
     
  • Opt for Premium Holiday if you need to stop paying premiums for a while

How MyLifeInvest works...

Joe is an assistant videographer, aged 30. He intends to get married in a few years. Finances are tight as they’re saving up for the wedding and to buy a house. Joe wants to have a nest egg for the future.

So, he buys MyLifeInvest for protection coverage and investment at an affordable premium of S$150 per month, with a Sum Assured of S$160,000.

Click on the image to enlarge

 


Footnotes

  1. Protection Coverage i.e. Sum Assured will vary according to the Life Assured’s age, gender and smoking status. Premiums paid will be used to buy Units in the Investment-linked funds of your choice. For details on allocation rates and premium charges, please refer to the Product Summary.
  2. This plan covers Death and Terminal Illness (TI) for whole of life. Upon death or diagnosis of Terminal Illness of the Life Assured, we will pay Death or Terminal Illness Benefit (whichever applicable) which consists of Sum Assured and Net Asset Value (NAV), less any amount owing to Aviva, in one lump sum. This plan also pays Total and Permanent Disability (TPD) Benefit if Life Assured becomes totally and permanently disabled before the policy anniversary of which he/she attains age seventy (70) years old, while the policy is in-force.
  3. At a Life Stage Event, the Life Assured may request for an increase in Sum Assured of the Basic Benefits that he/she is currently being covered, without the need to furnish any additional evidence of good health, subject to the following terms and conditions:
    1. Life Stage Events occurs before the Life Assured reaching ANB 50 years;
    2. Life Assured is of standard risk ratings by Aviva Ltd’s standards (as at last underwriting carried out under the Policy);
    3. Satisfactory proof to show evidence of occurrence of Life Stage Events and the request to increase the Sum Assured. Please refer to the Policy Contract for more details.
  4. Premiums will be directed into the Investment-linked funds of your choice with unlimited free fund switches. For information on funds, fund managers and free fund switches, please refer to the Product Summary.
  5. You can reduce coverage for Death, TPD and TI to zero once the Life Assured reaches age 55, or when you have contributed at least 12 years of annual premiums to your Policy from the inception of the policy or the last increase in regular premiums, whichever is later. Please refer to the Product Summary for more details.
  6. You can request to withdraw part of the NAV of your policy. Units in the Investment-linked funds will be redeemed according to the proportion of the Investment-linked funds as specified by you. This is subject to a minimum of S$1,000 per withdrawal and the NAV of the remaining units in the Policy must be at least above S$1,000 after the withdrawal. Basic Benefits under the Policy will stay in force as long as the policy has sufficient units to cover the applicable fees and charges.
  7. Premium reward of 5% of premium will be given every 5 years from the 10th policy year, provided no premium holiday has been taken. If premium is reduced, the premium reward will be 5% of the reduced premium.
     


Important notes

The policy is underwritten by Aviva Ltd.

This information is published for general information only and does not have regard to the specific investment objectives, financial situation and particular needs of any specific person. A copy of the Product Summary may be obtained from Aviva Ltd and the participating distributors’ offices. You should read the product summary before deciding whether to purchase the policy. You may wish to seek advice from a financial adviser representative before making a commitment to purchase the policy. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable, if any, may be less than the total premiums paid. This information is not a contract of insurance. Full details of the standard terms and conditions of this policy can be found in the relevant policy contract. Buying health insurance that is not suitable for you may impact your ability to finance your future healthcare needs.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the SDIC. Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Aviva Ltd or visit the Life Insurance Association or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

Information is accurate as at October 2016.

 

 

 

Increase your protection with riders8 that give additional coverage:

For additional protection against Death and Terminal Illness

  • Level Term Cover

For Critical Illness protection

  • Early Critical Illness Cover
  • Critical Illness Additional Cover
    (deducted from units in the Investment–linked funds – No cash outlay required!)
  • Critical Illness Accelerated Cover
  • Level Term Critical Illness Accelerated Cover
    (accelerates Level Term Cover’s benefit)

Riders with Premium waivers so that you can focus on recovering from the Critical Illness

  • Payer Critical Illness Premium Waiver Benefit
  • Payer Premium Waiver Benefit
  • Critical Illness Premium Waiver

For complete details, please speak to your financial adviser representative today.

 


Footnotes

8. For more details on the riders and the applicable age limits, please refer to the respective Product Summaries and Key Provisions which contains details of Exclusions, Waiting Period and Survival Period (if applicable).


Important notes

The policy is underwritten by Aviva Ltd.

This information is published for general information only and does not have regard to the specific investment objectives, financial situation and particular needs of any specific person. A copy of the Product Summary may be obtained from Aviva Ltd and the participating distributors’ offices. You should read the product summary before deciding whether to purchase the policy. You may wish to seek advice from a financial adviser representative before making a commitment to purchase the policy. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable, if any, may be less than the total premiums paid. This information is not a contract of insurance. Full details of the standard terms and conditions of this policy can be found in the relevant policy contract. Buying health insurance that is not suitable for you may impact your ability to finance your future healthcare needs.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the SDIC. Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Aviva Ltd or visit the Life Insurance Association or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

Information is accurate as at October 2016.

 

MyLifeInvest

MyLifeInvest Brochure
 

Please contact your preferred Financial Advisor for a copy of the relevant Product Summary/ies.

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