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Secure Lifetime Income
for Your Retirement

Steady payouts. Lifelong assurance.
Your retirement, your way.

At Straits Alliance, we work with over 15 trusted insurers to help you compare and find the ideal lifetime income plan designed to support your retirement goals and lifestyle needs.

✅ Understand how each plan pays out during retirement
✅ Compare benefits, flexibility, and payout duration
✅ Receive tailored recommendations to match your financial future

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WHY GET A LIFETIME INCOME PLAN?

Enjoy peace of mind with guaranteed income throughout retirement.

COMPARE AND GET QUOTES FROM DIFFERENT
LIFETIME INCOME PLAN PROVIDERS

We work with a wide range of insurers to help you compare quotes and find the lifetime income plan in Singapore that best fits your needs.

LIFETIME INCOME PLAN

OTHER FEATURES OF LIFETIME INCOME PLAN

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PARTIAL SURRENDER

Some lifetime income plans offer a partial surrender option after a minimum holding period. This feature allows you to withdraw a portion of your principal while continuing to receive a reduced income payout—providing greater liquidity when needed.

SECONDARY LIFE ASSURED

Add a secondary life assured to ensure the continuity of your plan. This allows the policy to be seamlessly transferred to a loved one, so they can continue receiving income—whether you're around or not.

LEVERAGE OPTION

Selected insurers partner with banks to offer premium financing options. This lets policy owners finance part of their premium and only service the interest, with the flexibility to repay the principal at any time.

IMPORTANT CONSIDERATIONS WHEN CHOOSING LIFETIME INCOME PLAN

  • Principal guarantee period
    Be mindful of how many years it takes before your capital is guaranteed. Different plans have varying break-even timelines, so it’s important to align this with your financial goals and horizon.

  • Financing considerations
    If you’re using premium financing, remember that interest rates are variable and may fluctuate over time. Ensure you have a plan in place to manage potential rate changes.

  • About projected returns
    The 3% and 4.25% p.a. illustrated returns are industry-standard projections used across all insurers’ participating fund products. These figures are not guaranteed and actual returns may vary.

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FREQUENTLY ASKED QUESTIONS

  • Can the bonuses be withdrawn during the policy term?
    The bonuses can be withdrawn usually after the minimum investment period depending on the nature of the plan.
  • What are restricted funds
    Restricted are exempted from scheme authorisation or recognition and prospectus requirements, subject to certain conditions being met. They are usually available only to Accredited Investors to be invested directly into them. Retail investors may get into such funds through the ILP mechanism that bypasses the Accredited investor requirement.
  • What is a Investment Linked Wrapper Plan?
    Investment-linked insurance Plans (ILP) or in this case we are referring to the 101 Wrapper products provides you with the opportunity to leverage the gains in the financial markets and provide life insurance coverage to take care of your loved ones. They are usually 100% invested and have very low to no insurance coverage for individuals
  • How do I pay the charges indicated?
    The charges are deducted off your units, you do not have to pay additional cash to cover the charges.
  • How do I get the best Investment Linked 101 Wrapper plan in Singapore?
    Click on ‘Get a quote’ and our financial adviser will provide you with objective advice and get you quotes from different companies for you to compare. It is 100% free with no obligation on your end.
  • Is Investment Linked Wrapper plan principal guaranteed?
    All plans do not provide principal guaranteed and are subjected to the volatility and pricing of the underlying mutual funds. Certain insurer provides death benefit where the plan will pay out the principal of the investment or the market value whichever is higher upon the insured’s death.
  • What are some of the funds available to be invested through this product?
    There is a whole universe of funds to select form, some insurer platforms provide 100+ funds with various investment themes and objective to invest into.
  • Why should I get Investment Linked Wrapper Plan?
    The reasons for getting into such plan is the liberty to invest into AI funds and to enjoy the upfront bonus that can boost your investment capital and offset the charges within the plan. Another reason to invest into such plan can be the insurance feature that provides a smooth exit strategy from the investor upon the insured and owner’s death.
  • How Do I Get the Best Endowment Plan in Singapore?
    Click on ‘Get a Quote’, and our financial adviser will provide objective advice and get quotes from different companies for you to compare. This service is 100% free with no obligation on your end.
  • What is an Endowment Plan?
    Endowment plans provide policy owners with a lump sum upon maturity with the benefit of compounding returns for a period of their choosing. The benefit includes a potentially higher return than bank savings with principal guaranteed if certain criteria are fulfilled. If you are looking for comprehensive coverage for a set period of time, you may also want to consider term life insurance in addition to an endowment plan. A short-term endowment plan in Singapore, on the other hand, is a type of investment plan that typically has a term of two to six years, during which the policyholder pays premiums into the plan. At the end of the term, the policyholder receives a guaranteed lump sum payout.
  • Are They Principal Guaranteed?
    Most endowment plans guarantee principal and interest if the policy owner fulfils the contract obligations. As shown in the benefit illustration, some have partial principal guaranteed upon maturity.
  • Can I Terminate the Policy During the Policy Term?
    Yes. However, you might suffer a loss of principal if the termination comes early on during the contract.
  • How Certainly Are Endowment Plans Able to Keep to the Projected Return of 4.25% p.a.?
    There will be no way to ascertain this as this is a non-guaranteed return. Most potential buyers will be able to see the historical returns from the first two pages of the policy illustration. Such previous returns do not guarantee future performances, even if they can be a good sign/indicator of whether the plan can outperform or keep up with higher projections.
  • What Other Benefits Are There?
    Certain endowment plans provide other features, such as retrenchment benefits or payout.
  • Why Should I Get an Endowment Plan?
    You should consider it if you prefer your savings to have a principal guaranteed element as well as a potential return that can beat the bank in the long term. You should also have a conservative risk profile, or it can be part of a wealth product that serves as cash in your overall investment or wealth accumulation portfolio.
  • Why Should I Get an Endowment Plan?
    You should consider it if you prefer your savings to have a principal guaranteed element as well as a potential return that can beat the bank in the long term. You should also have a conservative risk profile, or it can be part of a wealth product that serves as cash in your overall investment or wealth accumulation portfolio.
  • Do I need Critical Illness that Covers for Early Stage?
    With more advanced medical technologies these days and the higher possibility of early detection, having an early critical illness insurance plan will provide you with financial relief while you undergo treatments. The payout should be enough to let you take a break, seek alternative treatments, and allow you to spend more time with your loved ones should you get diagnosed with any critical illness.
  • If I Have a Health Insurance Policy, Do I Need Critical Illness Coverage?
    A health insurance policy covers your bill whereas a critical illness policy will replace your income. Critical illness insurance provides an option for you to stop working and seek treatment, it may also provide you with the option to seek treatment that your health insurance policy may not cover.
  • What is the Difference Between Critical Illness and Early Stage Critical Illness?
    Early-stage critical illness insurance seeks to bridge the gap in the case where one is diagnosed with a critical illness but not at the “stage” where it can be covered by a normal critical illness plan. The sum assured of an early critical illness insurance plancan also be claimed in the event of certain medical procedures done, such as the removal of a kidney or a small bowel transplant.
  • How Do I Get the Best Critical Illness Insurance Plan in Singapore?
    Click on ‘Get a quote’ and our financial adviser will provide you with objective advice and get you quotes from different companies for you to compare. It is 100% free with no obligation on your end.
  • What is a Critical Illness Insurance Plan?
    Most people know of critical illnesses such as cancers, heart attacks, or strokes. Critical illness plans in fact cover more than 30 other conditions and they can be an important part of financial risk management planning that’s standing between life and death. Adequate critical illness coverage will ensure your diagnosis can be treated while you are provided with a payout to provide for potential loss of income due to the inability to work upon diagnosis. There are officially 37 critical illness diagnoses defined by the Life Insurance Association which are covered by most insurers.
  • How Much Critical Illness Insurance Coverage Should I Get?
    One to two times of your income for early critical illness insurance and four to six times of your income for advanced-stage critical illness can be enough. We suggest you seek advice from our experts to get the best critical illness insurance coverage.
  • Are the Premiums for Critical Illness Insurance Guaranteed Throughout?
    All critical illness insurance premiums are not guaranteed, as future premium costs for such plans are subject to future claim experience.
  • What is a Multiple Claims Critical Illness Coverage and Why is it Important?
    Given the fact that there is a probability of recurrence, critical illness plans have evolved, and insurance companies in Singapore are now offering plans that address these concerns. Such plans provide continuous coverage for early-stage and advanced-stage CI should your condition persist, relapse or when another critical illness has been diagnosed.
  • What is a Whole Life Insurance Plan?
    A whole life insurance plan is an insurance product that provides the policy holder with a covered benefit for life. The basic function of a whole life insurance plan is to provide a lump sum payout in the event of the death of the insured – if the policy is still in force. To qualify as a whole life insurance policy, the plan has to have a cash value where a policyholder can surrender and withdraw part of it, or the whole of it, as long as the cash value is available.
  • How Does a Multiplier Benefit Work?
    Example: Tom purchases a whole life insurance plan with a four-fold multiplier until age 70 for coverage of a $50,000 sum assured in case of death, disability, and critical illness. This effectively increases his coverage amount to $200,000 due to the factors listed. Thanks to the four-times multiplier benefit feature, should any of the three covered events strike Tom before age 70, he or his beneficiary will receive a lump sum payout of $200,000 even though his basic sum assured is only $50,000. However, if the covered event were to occur after the age of 70, Tom or his beneficiary would l receive the $50,000 sum plus any accrued bonuses instead.
  • What Is Cash Value?
    Cash value is a saving feature that is embedded in a whole life insurance policy, which is also the main reason why a whole life insurance premium is much higher than term insurance. Cash value is the invested part of the premium that policyholders pay. They are typically invested in a pool of diversified assets managed by the insurance company's in-house or externally appointed fund managers.
  • What Is a Participating and Non-Participating Whole Life Insurance?
    The participating fund shares the profit of its investment with the policyholders in the form of yearly bonuses. Once paid out, the bonuses are guaranteed and accumulate throughout the policy term. A participating whole life insurance policy provides a guaranteed cash value portion and a non-guaranteed cash value portion, typically shown in their benefit illustrations at 3.00% p.a. or 4.25% p.a. The cash value money accumulated will then be paid out to the insured’s beneficiary in addition to the sum assured in the event of the insured’s death or to the insured when he/she surrenders the policy. The non-participating plan has guaranteed claims benefits and cash values, but it doesn't share in the investment profits of the insurers, as the name suggests.
  • Whole Life vs Term Insurance: What Is the Main Difference?
    The primary distinction is that whole life insurance has a cash value. On the other hand, most term life insurance does not provide any return if the policyholder surrenders or terminates the plan. This is also the reason why whole life insurance in Singapore is more expensive than term insurance.
  • Why Should You Get a Whole Life Insurance Policy?
    You should get whole life insurance: If you want to leave a sum of money to your dependents, regardless of whether they are self-reliant or not, throughout your life. If you have the intention to provide coverage during your productive years and have the option to use it as a form of forced savings to supplement your retirement needs. If you want to provide for early-stage critical illness coverage for a longer period – for example, until the age of 85, but at the same time prefer to pay for a limited term rather than continue paying for the premium beyond your retirement years. (In some circumstances, this strategy may be cheaper than getting an early-stage CI stand-alone policy.) If you want to pay for a limited period and enjoy whole life coverage.
  • What Are the Available Riders in a Whole Life Plan?
    Almost all whole life insurance plans in the market allow policyholders to add riders to their life insurance policies to enhance the coverage dynamism. Policyholders are able to customise their plan into a one-size-fits-all solution that includes one or all of the following coverages in one product: Total and Permanent Disability Advance Stage Critical Illness Early-Stage Critical Illness Multi Claim Critical Illness Hospital Cash Disability Income Multiplier Benefit To do so, policyholders will need to top up an additional premium to include these features.
  • What Are Multiplier Benefits in a Whole Life Insurance Plan?
    Multiplier benefits allow the insured to raise their sum assured by a factor of two to ten up until a certain age, usually 65 or 70. This effectively boosts the coverage by x number of multipliers during their active years. This may be a more affordable option compared to boosting the basic sum assured to the desired value. The purpose is to provide an additional amount of payout when the insured is younger and has more financial commitments.
  • What Are the Payment Term Options?
    There are many limited pay terms that allow you to pay a single lump sum premium upfront. Additionally, policyholders have the option of choosing a five-year regular payment period up until age 99. The most common denominations are in the multiples of five at five years, 10 years, 15 years, 20 years, and 25 years.
  • Do Whole Life Insurance Plans Have an Income Option?
    Some insurers have an annuity option featured in their whole life insurance plans where the policyholder can choose to convert them into an annuity plan. This is an excellent feature that enables the policyholders to enjoy a regular stream of income for a period of time, starting at a specific age. It also allows them to continue and let the plan provide a minimum amount of coverage without requiring the insured to effectively surrender their policies.
  • Does my occupation affect the Careshield upgrade?
    No, Careshield supplements underwriting do not consider occupational.
  • When should I upgrade my Careshield Life?
    You should upgrade as soon as you are eligible to do so since your premium will be at the lowest at your current age and you should take advantage of your good health if you are medically fit to do so.
  • How much Careshield Life coverage do I need?
    Most people will maximise their medisave withdrawal limits to pay for Careshield Life, if you need more and are able to afford paying cash, you may want to factor in your daily expenses plus projected cost for disability management to receive adequate coverage.
  • If I have other disability coverage do I still need to upgrade my Careshield Life?
    Your existing disability coverage may not provide you with the same coverage definition as Careshield Life or may be terminated after a certain age. Careshield Life and its supplement provides you with a lifetime coverage as you continue to afford the premium.
  • Is it compulsory to upgrade Careshield Life?
    No, the supplements to upgrade Careshield Life are optional.
  • What will happen if I have a pre existing condition?
    Careshield life will provide coverage for all pre existing conditions. However, depending on the nature of the condition, the careshield life supplement may or may not provide coverage for your pre-existing conditions. In certain scenarios, loading and/or exclusions may be imposed
  • Is Careshield life Compulsory?
    Yes, the Careshield life is a compulsory coverage for all Singaporeans and PR age 30 and above from 2020 onwards, the plan can be funded via medisave.
  • What are the criteria to claim for Careshield Life supplements?
    Careshield Life supplement provides the benefit to claim upon the inability to carry out 2 out of 6 activities of daily living, some offers 1 out of 6 ADL payout and premium waiver as well.
  • What is Careshield Life?
    Careshield life is a government scheme which begins in 2020 to provide a monthly income payout in the event the insured suffers from severe disability. The current definition for severe disability is the inability to do 3 out of the following 6 Activities of Daily Living (ADLs) Washing Feeding Dressing Toileting Mobility Transferability
  • Should I upgrade my Careshield Life?
    Considering the average monthly cost of long-term care which may amounts to more than $2,000/mth, including aids to help in daily living, everyday living expenses, care-giver expenses, medication and therapy and miscellaneous expenses and this amount is likely to increase further with inflation. It does make financial sense to upgrade your coverage if you are able to afford it.
  • How do I get the Best Careshield supplement Insurance Plan in Singapore?
    Click on ‘Get a quote’ and our financial adviser will provide you with objective advice and get you quotes from different companies for you to compare. It is 100% free with no obligation on your end.
  • Are Direct Purchase Insurance Term Plan Better and Cheaper?
    A direct purchase term insurance plan is where you can directly purchase from the insurance company without going through an insurance agent. A non-DPI term plan can offer some benefits that a DPI (Direct Purchase Term Insurance) plan cannot, such as the addition of riders to provide more comprehensive coverage and the option to provide a higher sum assured for a longer term. Direct Purchase is usually cheaper but it’s worthwhile to make the comparison between DPI and Non-DPI.
  • Why should I get Term Insurance plan?
    There are many reasons why you should get life insurance coverage – the main reason is to provide financial stability to your dependents should you die or become unable to work due to your disability or illnesses. Other reasons can be to ensure your liabilities, such as your mortgage loans, are fully paid upon your death, so your dependents will not have to inherit the burden. Business owners or corporations can get protection for their key staff in order to provide compensation for their family members or themselves within their employment period. Given the cost and time-specific requirements, getting a term life insurance policy may be the most efficient and economical way for an individual or company to manage a part of their financial risks.
  • How Do I Get The Affordable Term Insurance Plan in Singapore?
    Click on ‘Get a Quote’, and our financial adviser will provide objective advice and get quotes from different companies for you to compare. This service is 100% free with no obligation on your end.
  • Can I Get a Term Life Insurance Plan to Cover for My Mortgage Liability?
    While the more common type of insurance to cover mortgage liability will be Mortgage Reducing Term Assurance (MRTA), the difference in premium between a reducing term and a term life insurance policy may not differ significantly. Hence it may be more worthwhile to get level-term insurance depending on your circumstances. Level-term life insurance pays out a fixed lump sum to your beneficiaries if you die within the term of the policy, whereas with decreasing-term insurance the level of payout reduces throughout the term.
  • Can I Buy Term Insurance For My Children?
    Yes, most companies allow coverage of term insurance in Singapore for children as young as one-month-old. Certain companies require the insured to be at least 18 years old to be covered. You can be the proposer and payor while passing on responsibility and ownership to your children when they become an adult.
  • Term Insurance vs Whole Life Insurance: Which is Better?
    Both term life and whole life insurance provide more than just the basic death benefit and disability coverage to add to your protection portfolio. A term insurance policy is better if your purpose in purchasing is just to get adequate coverage within a specific period, especially on death and disability. A whole life insurance plan is more suitable for people with a focus on providing lifetime coverage where premiums can be paid off within a specific period. A whole life insurance plan can be customised to include limited premium payment terms, multiplier benefits as well as critical illness riders. The cash value feature can be used later on as an option for retirement needs. Premiums for whole-life insurance plans are typically higher.
  • How Much Term Insurance Coverage Should I Get?
    You should get enough to cover your family expenses until your dependents are self-sufficient and also enough to cover your mortgage liabilities so that when you are no longer around to provide for your family, the payout from the term insurance plan will be able to provide for them.
  • Are the Premiums for Term Life Insurance Guaranteed Throughout?
    If you have selected a specific age that you want to be covered for, the premium for the death and its total, as well as permanent disability riders, are guaranteed throughout. However, critical illness riders are not guaranteed as future premium costs for these riders are subjected to future claim experience.
  • What is a Term Life Insurance Plan?
    A term life Insurance is a life insurance policy that simply pays out a lump sum to your beneficiary upon your death. It has a term limit which, if passed, may result in the termination of the policy coverage.
  • Is it compulsory to get the rider if I wish to upgrade my Medishield life?
    No, the riders are not compulsory.
  • Should I buy a rider?
    It depends on your budget and your current financial circumstances. Click on ‘Get a Quote’, and our financial adviser will provide objective advice and get quotes from different companies for you to compare. This service is 100% free with no obligation on your end.
  • What is an Integrated Shield Plan?
    Integrated shield plan is a hospitalisation plan sold and administered by private insurance company that can be bought to compliment the medishield life, the objective is to get enhanced coverage on higher hospital class ward or private hospitals
  • What does the rider cover?
    The rider provides coverage for part of or the full cost of the deductibles and a part of the co-insurance that is payable without a rider.
  • My Company insurance provide me with comprehensive hospitalisation coverage, do I still need to upgrade my Medishield life?
    There’s no wrong or right answer to this, if you can afford and would like to receive better hospitalisation care beyond your working years, it may be wise to still get an integrated shield plan even though you’re covered by your company since your company insurance may terminate if you are no longer working there, the integrated shield plan can be an affordable insurance to fall back on throughout your life. Otherwise, you will still have your medishield life to provide for basic hospitalisation expenses even without an integrated shield plan
  • Are the premiums fully payable by Medisave?
    A portion of the basic coverage can be funded by medisave depending on the age and the ward class you wish to be insured for.
  • Are pre existing conditions covered?
    Most shield plans will exclude pre-existing conditions, there are shield plans that provide customized solution to certain chronic illness.
  • Why should I get a retirement plan?
    You should consider if you prefer a guaranteed stream of income for a period of time from a specific age instead of a lump sum pay-out. You should also consider a retirement plan if you prefer a safe investment asset without the risk of losing your capital at your retirement age if you fulfil the obligation of the contract.
  • What other benefits are there?
    Most retirement product provides disability benefit during the premium payment and pay-out period. As such, premiums may be waived during premium payment term if the insured suffers from a insured event as defined in the policy contract. Some insurers will also pay out additional guaranteed income during the pay-out period of the policy.
  • Can I terminate the policy during the policy term?
    Yes. However, you might suffer a loss of principal if the termination comes early on during the contract.
  • What is a Retirement Plan?
    They are life insurance products and a subset of endowment policy that provides policy owners a stream of regular income (monthly/annually), usually for a specific period, from a specific age onwards.
  • What is the main difference between a regular endowment policy and a retirement plan?
    The main difference is that the endowment plan pays out a lump sum during maturity, while the retirement plan pays out a regular income from a specific period during the policy term.
  • How do I get the best retirement plan?
    Click on ‘Get a Quote’, and our financial adviser will provide objective advice and get quotes from different companies for you to compare. This service is 100% free with no obligation on your end.
  • I already have CPF Life, should I still get a retirement plan?
    If you feel that even by maximising your CPF contribution to his minimum sum or enhanced retirement sum may still be inadequate to hit your retirement goals, then a retirement plan can be a good complimentary solution to your CPF life, moreover, you will have more control on your own retirement plan than CPF life given that policy changes are common that may affect your retirement planning later.
  • What is the difference between an annuity and a retirement plan?
    An annuity usually pays out a regular income as long as the policy holder or life assured lives. A retirement plan pays out a regular income for a specific period, etc. 20 years from the age of retirement.
  • Are they principal guaranteed?
    Most retirement plans provide principal and interest guaranteed if the policy owner fulfils the contract obligations.
  • Can I terminate the policy during the policy term?
    Yes. However, you might suffer a loss of principal if the termination comes early on during the contract.
  • How do I get the best Lifetime Income plan?
    Click on ‘Get a Quote’, and our financial adviser will provide objective advice and get quotes from different companies for you to compare. This service is 100% free with no obligation on your end.
  • Is it recommended to finance my Lifetime Income plan?
    It depends, financing your plan expose you to two major risks. Interest rate risks and risks of losing your principal. The interest rates are usually variable and may cost more than the pay out from the plan during a high interest rate environment. Certain product does not guarantee your principal for life or many years into the plan, hence if you were to surrender the plan to repay the financing company you may still lose money.
  • Will I be able to reinvest the income?
    Yes, you may reinvest the income pay out if you don’t need it at a prevailing bonus interest rate declared by the insurer each year.
  • What is a Lifetime Income Plan?
    A Lifetime income plan is a plan within the endowment universe that provides policy owner with a lifetime income while having part or all the principal intact during the pay-out period. In an annuity like structure, the plan also provides death benefit should the life assured passed on during the policy term.
  • Why should I get a Lifetime Income plan?
    You should consider if you prefer a stream of income that can last you for life in a way where your principal and income stream are partially or fully guaranteed
  • Are the pay out guaranteed?
    Usually there will be a portion of the income that is guaranteed by the insurer.
  • Are they principal guaranteed?
    Most Lifetime Income plans provide principal and interest guaranteed after a certain years if the as shown on the benefit illustration, there are some with partial principal guaranteed.
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