Savings

Savings - MyEduPlan

Alternatively, speak to your personal financial adviser.  
 

As a parent, there’s nothing more important to you than your children’s future and well-being. With a University education, they are open to a world of choices and have better opportunities to fulfil the dreams they grow up with. And even though 87%1 of the parents we surveyed are saving specifically for their child’s University education and 56%1 of them are admirably setting aside up to S$500 per month for their child’s education, the question they are all asking is this: am I doing enough?   

When it comes to your child’s future, you’d do all you can and more. We get that.

Which is why we have come up with MyEduPlan, a structured, safe and secure savings plan for your child’s University education with 100% capital guaranteed2.

1. Source: Aviva’s Consumers Attitude to Savings for Child Education, conducted in November 2012.
2. 100% capital guaranteed: The total Guaranteed Cash Benefits payable will be at least 100% of the total premiums paid over the policy term.

 

 

MyEduPlan is a structured, safe and secure savings plan that not only guarantees the amount you choose to save for your child’s University education but also ensures 100% capital guaranteed2.

MyEduPlan is Structured

  • Receive 4 Guaranteed Cash Benefits for your child’s University education, payable from the Payout Age onwards
     
  • Benefit from our 2 additional Guaranteed Cash Benefits, payable prior to the Payout Age. You can use them to celebrate your child’s educational milestones, or simply to meet expenses such as a laptop purchase or airfare to visit an overseas campus
     
  • Receive Projected Bonuses upon maturity3
     
  • Choose from our two Payout Ages according to your child’s needs, 19 or 21 years at Age Next Birthday (ANB)
     
  • Pay premiums for only 10 years (either monthly, quarterly , half yearly or yearly)  
 
Guaranteed-Issuance-W80
MyEduPlan is Safe
  • 100% Capital Guaranteed2
  • Guaranteed returns of up to 1.46%4 per annum
 

How does MyEduPlan work?


  1. Source: Aviva’s Consumers Attitude to Savings for Child Education, conducted in November 2012.
  2. 100% capital guaranteed: The total Guaranteed Cash Benefits payable will be at least 100% of the total premiums paid over the policy term.
  3. The total projected bonuses are equal to any accumulated Reversionary Bonus and any Terminal Bonus. The Reversionary Bonus and Terminal Bonus are non-guaranteed bonuses and depend on the performance of Aviva’s Participating Fund. Reversionary Bonus is non-guaranteed, but once declared and vested, it forms part of the fixed benefit of the policy. The non-guaranteed benefits are projected based on estimated bonus rates and actual benefits payable will depend on the future performance of the Life Participating Fund.
  4. Based on MyEduPlan purchased for a life assured (child) at age 1 Age Next Birthday(ANB), choosing Payout Age 21 ANB and Sum Assured of S$250,000, paying an annual premium of S$21,713.
  5. The total policy benefit consists of the 6 Guaranteed Cash Benefits, any accumulated Reversionary Bonus, any Terminal Bonus and any re-invested Guaranteed Cash Benefits with non-guaranteed interest (if not previously withdrawn), less any indebtedness owing to Aviva Ltd.
  6. This is published for illustration purposes. Based on MyEduPlan for child at age 1 ANB, Payout Age 19 ANB and Sum Assured of S$50,000. Male payor, age 35 ANB, non-smoker paying annual premium and opting for the following riders: EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm (Sum Assured = S$20,000 and 10 years policy term).
  7. This is published for illustration purposes. Based on MyEduPlan for child at age 1 ANB, Payout Age 21 ANB and Sum Assured of S$50,000. Male payor, age 35 ANB, non-smoker paying annual premium and opting for the following riders: EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm (Sum Assured = S$20,000 and 10 years policy term).
 
This policy is underwritten by Aviva Ltd.
 
The information on this page is published for general information only and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person. A product summary in relation to MyEduPlan, EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm is available and maybe 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 before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you.
 
Buying a life insurance policy is a long-term commitment. Early termination of the policy usually involves high costs and the surrender value payable, if any, may be less than the total premiums paid. Full details of the standard terms and conditions of this plan can be found in the relevant policy contract.
 
Information is correct at time of publishing.

 

MyEduPlan is Secure

We’re in the business of catering for unforeseen circumstances. And when it comes to securing your child’s future, we like to cover all bases. Enjoy the assurance of knowing that in the event of worst-case scenarios, your child’s education fund is secured and will continue to grow.

Here are some of the life protection features and guaranteed issuance riders you can add on to your basic education plan:


  • EasyPayer Premium Waiver8
    In the event of Death, Terminal Illness (TI) or Total and Permanent Disability (TPD) of the policyowner, all future premiums are waived and your child’s education fund will continue to grow.
     
  • Cancer Premium Waiver8
    Upon diagnosis of Major Cancers9 of the policyowner, all future premiums are waived – no need to worry about your child’s savings as you focus on getting better. 
     
  • EasyTerm8
    Pays out an additional lump sum cash payment of up to 5 times your basic plan’s annual premium upon Death, TI or TPD of the policyowner, should the worst happen.

For a complete list of riders, speak to your preferred financial adviser today.


  • 8. For more details on the riders, please refer to the Key provisions in the EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm Product Summary respectively. It contains details of Exclusions, Waiting Period and Survival Period (if applicable).
  • 9. Definition of Major Cancers: A malignant tumour positively diagnosed with histological confirmation and characterized by the uncontrolled growth of malignant cells with invasion and destruction of normal tissue. The term malignant tumour includes leukemia, lymphoma and sarcoma. Please refer to the Product Summary for the exact terms and conditions.
This policy is underwritten by Aviva Ltd.
 
The information on this page is published for general information only and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person. A product summary in relation to MyEduPlan, EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm is available and maybe 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 before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you.
 
Buying a life insurance policy is a long-term commitment. Early termination of the policy usually involves high costs and the surrender value payable, if any, may be less than the total premiums paid. Full details of the standard terms and conditions of this plan can be found in the relevant policy contract.
 
Information is correct at time of publishing.

 

MyEduPlan

icn-pdf MyEduPlan Brochure

Please contact your preferred financial adviser for a copy of the relevant Product Summary(ies).

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