FlexRetire

FlexRetire

A savings and retirement plan that provides you with regular monthly payouts and insurance coverage at the same time.

What it covers

Death and total and permanent disability

We pay 105% of all net premiums paid and 100% of terminal bonus[1] during the accumulation period. We pay 105% of all net premiums paid and 100% of terminal bonus[1], less all regular payments paid out, during the payout period. 

Features

You can choose to start receiving your monthly retirement income from age of 55, 60, 65 or 70 [2] (last birthday).

You can set the number of years (10, 20 or 30 years) to receive your retirement income with the flexibility to change your selection any time before your selected retirement age.

You can choose to pay your premiums for 5 years, 10 years or up to age 50, 55, 60 or 65 [3], depending on your lifestyle and financial ability.

You can get back at least all the premiums that you have paid on the basic plan, on top of the non-guaranteed bonuses [1] at your selected retirement age. [4]

Your policy will be accepted regardless of your health condition [5].

You can receive a Future Gift [6] of up to 24 times of the final monthly retirement income on top of your monthly retirement income at the point of policy maturity.

This policy will share in the profits and losses of the Life Participating Fund [1].

Enjoy a wide range of exclusive treats which are specially curated for you. 

Find out more. 

Enhance your plan

Cancer Premium Waiver (GIO)

We waive future premium payments in the event of the diagnosis of a major cancer[7] during the term of the rider.

Enhanced Payor Premium Waiver
We waive future premium payments of the basic plan in the event of death, total and permanent disability (TPD before age 70), or diagnosis of dread disease [8] (except for angioplasty and other invasive treatment for coronary artery) of the policyholder during the term of the rider. This rider is applicable only if the insured is not the policyholder.
Dread Disease Premium Waiver
We waive future premium payments of the basic plan, if the policyholder is diagnosed with dread disease [8] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.

Before you apply

Accumulation Period Premium payment term
5 years 10 years Regular Pay [9]
Minimum entry age (last birthday) Maximum entry age (last birthday) Minimum entry age (last birthday) Maximum entry age (last birthday) Minimum entry age (last birthday) Maximum entry age (last birthday)
Up to age 55 20 45 20 40 20 39
Up to age 60 50 45 44
Up to age 65 55 50 49
Up to age 70 60 55 54

You can make your payments monthly, quarterly, half-yearly, or yearly.

Important Notes

Footnotes

 
  1. Bonus rates are not guaranteed and will vary according to the future performance of the Life Participating Fund.
  2. The first monthly regular payment is paid one month after the policy anniversary on which the insured reaches the selected retirement age.
  3. When you choose premium payment term of up to age 50, 55, 60 or 65, you must choose to receive your retirement income starting from age 55, 60, 65 or 70 respectively.
  4. Capital guarantee is on the basic plan only, on the condition that all premiums are paid, and that the policy is held until the policy anniversary at your selected retirement age with no policy alterations or claims made.
  5. You can further enhance your protection with Enhanced Payor Premium Waiver, Dread Disease Premium Waiver or Cancer Premium Waiver (GIO) rider. You are not required to undergo any medical underwriting unless you are applying for the Enhanced Payor Premium Waiver or Dread Disease Premium Waiver rider to your policy.
  6. ”Future Gift” means the “maturity bonus” as referred to in the policy contract. The Future Gift amount of up to 24 times of the final monthly retirement income is not guaranteed and will be determined by Income at the point of policy maturity.
  7. This is applicable only after one year from the cover start date. Cover start date refers to the date we issue the rider, include or increase any benefit, or reinstate the rider (whichever is latest). However, if the insured is diagnosed with any one of the major cancers within one year from the cover start date, we will end this rider and refund 100% of the premiums paid on this rider. You will then have to continue paying premiums for your policy. The insured must survive for at least 30 days from the date of diagnosis before we pay this benefit. You can find the full list of our specified major cancers and their definitions in your policy contract.
  8. We wil not pay this benefit if the insured was diagnosed with the disease within 90 days from the date we issue the rider, include or increase any benefit, or reinstate the rider (whichever is latest) for major cancers, heart attack of specified severity, coronary artery by-pass surgery, angioplasty and other invasive treatment for coronary artery or other serious coronary artery disease. 
  9. For regular pay, premiums are payable up to 5 years before the end of the accumulation period.

Exclusions

 

There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.

Important Notes

 

This page is for general information only. You can find the usual terms and conditions of this plan in the policy contract. All our products are developed to benefit our customers but not all may be suitable for your specific needs. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance adviser. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. Buying a life insurance plan is a long-term commitment on your part. If you cancel your plan prematurely, the cash value you receive can be substantially less than the premiums you have paid for the plan.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (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 Income or visit the websites of the General Insurance Association of Singapore (www.gia.org.sg), the Life Insurance Association, Singapore (www.lia.org.sg) or Singapore Deposit Insurance Corporation (www.sdic.org.sg).

 

Information is correct as of 21 April 2017

Frequently asked questions

How to apply

For enquiries about savings and investment products, please call our hotline:
6788 1122

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