Are you worried about maintaining your lifestyle after retirement? You're not alone. With rising living costs and increasing medical expenses, the thought of stopping work can be daunting. But what if there was a way to safeguard your financial freedom and enjoy your retirement your way ? Enter GREAT Retire Income, an innovative solution designed to give you peace of mind and financial stability in your golden years.
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GREAT Retire Income is a participating regular premium endowment plan offered by Great Eastern. It's designed to provide you with a steady stream of monthly income during your retirement years , while also offering flexibility to suit your unique needs and circumstances. This plan goes beyond just retirement income, offering additional benefits that protect you against life's uncertainties.
Receive a steady stream of monthly income upon reaching your chosen retirement age. Potential to receive up to 5.4 times your total premiums paid by policy maturity.
Choose your premium payment term: 5, 10, 15, or 20 years. Select your retirement age: 56, 61, 66, or 71. Decide on your income payout duration: 10 or 20 years.
Your capital is guaranteed at your selected retirement age, provided no policy alterations are made.
Loss of Independence (LOI) Income Benefit. Coverage for Death, Total and Permanent Disability, and Terminal Illness.
Start your plan with premiums as low as S$150 monthly, without the need for a medical check-up.
These figures are based on an Illustrated Investment Rate of Return (IIRR) of 4.25% per annum. It's important to note that actual returns may vary.
Louis receives a monthly cash payout of S$731 for 10 years. By age 76, Louis will have received total benefits of S$87,782. This is 3.65 times his total premiums paid .
Louis receives a monthly cash payout of S$438 for 20 years. By age 86, Louis will have received total benefits of S$105,211. This is 4.38 times his total premiums paid .
If Louis loses the ability to perform two Activities of Daily Living (ADLs) during the income period: In Scenario 1, he receives an additional S$147 monthly. In Scenario 2, he receives an additional S$78 monthly.
If Louis can't perform 3 or more ADLs, the LOI benefit doubles to 100% of the Guaranteed Survival Benefit.
Coverage for Death, Total and Permanent Disability, and Terminal Illness ensures that Louis and his loved ones are financially supported in case of unfortunate events.
Choose to pay premiums for 5, 10, 15, or 20 years, depending on your financial situation.
Select when you want to start receiving payouts: age 56, 61, 66, or 71.
Decide whether you want to receive payouts for 10 or 20 years.
You can change your income period up to 6 months before the first payout, allowing you to adapt to changing circumstances.
With guaranteed capital and potential returns of up to 5.4 times your total premiums paid, you can feel secure about your retirement finances.
The flexibility in premium terms, retirement age, and payout duration allows you to tailor the plan to your specific needs.
The additional coverage for LOI, death, disability, and terminal illness provides comprehensive protection.
Start your plan easily without the need for medical assessments.
Begin with premiums as low as S$150 monthly, making it accessible for various income levels.
While GREAT Retire Income offers many benefits, it's important to consider a few points:
Some changes may be possible, but they could affect your benefits. Consult your financial representative for specifics.
The policy may lapse if premiums are not paid. It's crucial to maintain your payments to keep your benefits intact.
While some benefits are guaranteed, others depend on the performance of the participating fund and are not guaranteed.
Early withdrawals may be possible but could significantly impact your benefits. It's generally advisable to maintain the policy until maturity.
This benefit is based on your ability to perform Activities of Daily Living (ADLs) and is certified by a medical practitioner.
GREAT Retire Income offers a comprehensive solution for those looking to secure their financial future in retirement . With its flexible options, guaranteed capital, and additional protections, it provides peace of mind and the potential for substantial returns. However, as with any financial decision, it's crucial to carefully consider your personal circumstances and consult with a financial advisor before committing.
Remember, retirement planning is not just about the numbers – it's about ensuring you can enjoy your golden years with confidence and security . GREAT Retire Income could be the key to unlocking that worry-free retirement you've been dreaming of.
Ready to take the next step towards a secure retirement? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on retirement income plans . These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision for your future.
By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best plan for your golden years. Don't leave your retirement to chance – get the expert advice you deserve today.
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Read the complete transcript of our expert discussion about GREAT Retire Income. This detailed analysis covers key features, benefits, and important considerations for potential policyholders.
Welcome to the deep dive.
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