Last Updated on 16, May 2014
Aviva launch the MyEduPlan and MyWealthPlan today.
The key objective of these two products is to meet clients’ specific needs of their children’s higher education and wealth accumulation respectively.
MyEduPlan
A structured savings plan designed to help parents save for their child’s university education.
Key highlights of MyEduPlan
- Guaranteed Cash Benefits: 4+2 Guaranteed Cash Benefits for their child’s education expenses
- 100% Capital Guaranteed ( The total Guaranteed Cash Benefits payable will be at least 100% of total premiums paid over the policy term.)
- Choice of two Payout Ages, 19 or 21 years at Age Next Birthday (ANB)
- Guaranteed issuance of the policy, no medical checks needed
MyWealthPlan
According to Aviva’s Consumers Attitude to Saving Survey, 92% of the respondents’ are savers and 1 in 3 want to get guaranteed returns.
With that in mind, Aviva introduces the MyWealthPlan. Whatever your client’s savings goal, MyWealthPlan can give them the flexibility and the guarantees to achieve it.
Key highlights of MyWealthPlan
- Guaranteed Returns of up to 2.35% per annum (Guaranteed returns of up to 2.35% per annum is only upon policy maturity. This is based on the assumption that a male, age 35 years at Age Next Birthday, non smoker, is opting for Sum Assured of S$100,000 with an annual premium of S$11,710 for 5 years premium term and 25 years policy term.)
- 100% Capital Guaranteed (only upon policy maturity, where at least 100% of the total premiums paid over the premium term will be payable. Actual guaranteed returns and projected total returns will vary according to the selected premium term and policy term.)
- Guaranteed issuance of the policy, no medical checks needed
- Flexible policy terms with choice of premium payment terms.
- Pay premiums for only 5 years and choose a policy term between 10 to 25 years
- Pay premiums for only 10 years and choose a policy term between 13 to 25 years
Introducing our new Guaranteed Issuance Rider - EasyPayer Premium Waiver
In the event of Death, Terminal Illness (TI) or Total and Permanent Disability (TPD) of the policyowner, all future premiums are waived and their money, whether it’s for child’s education or wealth accumulation, will continue to grow.
For more details on the guaranteed issuance riders, please refer to the Key Provisions in the EasyPayer Premium Waiver, Cancer Premium Waiver and EasyTerm Product Summary respectively. For underwriting riders, please refer to the Key Provisions in the Critical Illness Premium Waiver (applicable to MyWealthPlan only), Accidental Death and Dismemberment Benefit and Payer Critical Illness Premium Waiver Product Summary respectively. It contains details of Exclusions, Waiting Period and Survival Period (if applicable).
Note that the Aviva MyEduPlan and Aviva MyWealthPlan may not be suitable for certain individuals.
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