Savings

Savings - MyRegularPay

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Everyone knows that saving your cash for a rainy day makes good financial sense. Be it for a specific purpose- like a down payment for a home or your children’s further education - or to have a healthy sum stashed away for emergencies.

But it can be hard for some people to keep to their savings goal – especially in cases where there’s a need to access funds regularly. Or perhaps, they simply love to indulge in the finer things in life.

At Aviva, we understand that life is about balance. When it comes to a savings plan, it’s no different – you need to be able to regularly enjoy your hard-earned money while being disciplined enough to keep a growing sum for rainy days.

If you’ve had any of these thoughts before – then we would like to introduce to you MyRegularPay.

MyRegularPay

 

MyRegularPay is a 100% capital guaranteed1 savings plan that pays you annually from the end of the 2nd policy year onwards. It also gives you a guaranteed lump sum amount at maturity, to meet your savings goal.

This means that you have the opportunity to enjoy a small part of your savings every year – for shopping, holidays, or anything that you may fancy. At the same time you’ll also feel secure that you’re still accumulating a substantial lump sum of cash.

Key Benefits:

  • Enjoy annual Guaranteed Cash Benefits2 from the end of the 2nd policy year onwards. Each annual payment is 5% of the Sum Assured3 you’ve decided.
     
  • Get a lump sum amount plus potential bonuses4, at the end of the policy term.
     
  • 100% capital guaranteed1 at maturity
     
  • Pay premiums for only 10 years
     
  • Choice of the policy term to achieve your savings goal: 15 years or 18 years
     
  • Don’t feel like taking that annual payout? No worries – just put it back into the policy for greater earnings!

    Reinvest the Guaranteed Cash Benefits with a non-guaranteed interest rate of 3%p.a5.

    How MyRegularPay works
    Simon Wah is a 35 year old operations manager who is married with two young children aged 3 and 5 years old. Simon would love to be able to take his family for an annual holiday but he’s always felt that it’s more important to save for his children’s university education. He’s also trying to accumulate a sum of money that can serve as a rainy day fund.

    Simon’s savings goal is to have a lump sum of S$35,000 accumulated at the end of 15 years , while enjoying an annual cash payout of S$2,500.

    This is how MyRegularPay can work for him…

    Click on the image to enlarge


     

    Footnotes

    1100% Capital Guaranteed refers to the total guaranteed benefits payable (that comprises of the annual Guaranteed Cash Benefits and the guaranteed lump sum amount upon policy maturity). This means upon policy maturity, you would have received at least 100% of the total premiums paid over the premium term. Actual guaranteed returns and projected total returns will vary according to the selected premium term and policy term.

    2The Guaranteed Cash Benefits will start from the end of the 2nd policy year, payable yearly at the end of each policy year, till the policy year before maturity, upon survival of the Life Assured. Each Guaranteed Cash Benefit is equivalent to 5% of the Sum Assured on the basic plan.

    3The Sum Assured in the basic plan is used to determine the Guaranteed Cash Benefits payable and is not the Death Benefit.

    4Potential bonuses are made up of any accumulated Reversionary Bonus and any Terminal Bonus, less any indebtedness owed to Aviva Ltd. The Reversionary Bonus and Terminal Bonus are non-guaranteed bonuses and depend on the performance of Aviva Ltd’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 Aviva Ltd Life Participating Fund.

    5For the re-invested option, the non-guaranteed rate is currently at 3% p.a. and Aviva Ltd reserves the right to revise the non-guaranteed rate based on future experience.

     

    This policy is underwritten by Aviva Ltd.

    Important notes:

    This 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 MyRegularPay, EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm is available and 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 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. This is not a contract of insurance. 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.

    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).

     
     

     

     

    Add these protection riders to your policy to give yourself ease of mind that your savings are kept secure:

  • Cancer Premium Waiver1- Upon diagnosis of Major Cancers2 of the policyowner, all your future premiums are waived, so you don’t have to worry about your savings as you focus on getting better.
  • EasyTerm1- Provides an additional lump sum cash payment of up to 5 times your basic plan’s annual premium in the event of Death, Terminal Illness or Total and Permanent Disability of the policyowner, so that ready cash is on hand, should the worst happen.
  • EasyPayer Premium Waiver1- In the event of Death, Terminal Illness or Total and Permanent Disability of the policyowner, all future premiums are waived and your loved one’s savings fund will continue to grow.
  •  

    Footnotes

    1For more details on the riders, please refer to the Key provisions in the Cancer Premium Waiver, EasyTerm and EasyPayer Premium Waiver Product Summary respectively. It contains details of Exclusions, Waiting Period and Survival Period (if applicable).

    2Definition of Major Cancers: A malignant tumour positively diagnosed with histological confirmation and characterised by the uncontrolled growth of malignant cells with invasion and destruction of normal tissue. The term malignant tumour includes leukaemia, lymphoma and sarcoma. Please refer to the Product Summary for the exact terms and conditions.

     

    This policy is underwritten by Aviva Ltd.

    Important notes:

    This 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 MyRegularPay, Accidental Death Cover, EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm is available and 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 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. This is not a contract of insurance. 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.

    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).

     

     

    MyRegularPay

    icn-pdf Product Brochure

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

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