Aviva MyChoiceSaver Review

The complete Pros and Cons on Aviva MyChoiceSaver

Aviva MyChoiceSaver helps you reach your financial goals with great flexibility. A wide range of premium and policy terms to choose from and capital is guaranteed upon maturity.

Aviva MyChoiceSaver product details

  • Life policy – Endowment and Saving policy
  • Flexible Premium Payment & Policy Terms
    • Pay 5 or 10 years for a policy term of 10 to 25 years or up till age 99
    • Pay 12 years for a policy term of 12 to 25 years or up till age 99
    • Pay 15 years for a policy term of 15 to 25 years or up till age 99
    • Pay 18 years for a policy term of 18 to 25 years or up till age 99
    • Pay 20 years for a policy term of 25 years or up till age 99
  • Option to Change Life Assured
    • You may pass on this policy to your loved ones to carry on receiving the benefit of this policy
  • 100% Capital Guarantee
    • You are guaranteed to get back at least all the premiums you have put in upon policy maturity
  • Insurance Coverage
    • You will be covered the higher of 105% of the total premiums paid or the guaranteed cash surrender value and any non-guaranteed bonuses against Death and Terminal Illness in Death Benefit
    • You will be covered an additional 100% of the sum assured in addition to the Death Benefit against Accidental Injury
  • Retrenchment Benefit
    • In the event that you become retrenched and remain jobless for 3 consecutive months, interest will be waived off unpaid premiums for 12 months
  • Hassle-free Application
    • No medical check-up required
  • Optional Riders
    • EasyTerm – Lump sum cash payout of to 5X the basic plan annual premium in the event of Death, Terminal Illness or Total and Permanent Disability of the policyholder
    • Cancer Premium Waiver II – Future premiums are waived should the policyholder be diagnosed with major cancer
    • Critical Illness Premium Waiver II – Future premiums are waived should the life assured be diagnosed with any of the covered severe-stage critical illnesses

Read AboutEndowment and Saving policy: How does it work?

Read AboutEndowment and Saving policy: Is it the best option?

Features of Aviva MyChoiceSaver at a glance

Cash and Cash Withdrawal Benefits

Cash value: Yes
Cash withdrawal benefits: No

Health and Insurance Coverage

Death: Yes
Total Permanent Disability: No
Terminal Illness: Yes
Critical Illness: No
Early Critical Illness: No

Health and Insurance Coverage Multiplier

Death: Yes, if accidental (additional coverage)
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Optional Add-on Riders

EasyTerm
Cancer Premium Waiver II
Critical Illness Premium Wavier II

Additional Features and Benefits

Yes.

For further information and details, refer to Aviva website. Alternatively, fill up the form below and let us advise accordingly.

Read AboutEffects of compounding returns

Aviva MyChoiceSaver may be suitable if you are looking for

Aviva MyChoiceSaver may potentially be a good fit if the following matters to you:

  • A hassle-free application without medical underwriting
  • Short to long term endowment and savings plan
  • To saving regularly over a period of time
  • To potentially generate higher financial returns compared to bank accounts
  • Savings plan with insurance coverage against Death and Terminal Illness
  • Additional coverage against Accidental Death

Aviva MyChoiceSaver may not be suitable if you are looking for

Aviva MyChoiceSaver may potentially be a bad fit if the following matters to you:

  • Liquidity or flexibility of withdrawal in your Insurance policy.
  • High insurance coverage for Death or Terminal Illness
  • Insurance coverage for Early Critical Illness, Critical Illness or Total and Permanent Disability
  • Lifetime regular cash payout
  • A one-time premium commitment with no further cash commitment
  • Potentially higher financial returns compared to a pure investment product.
  • Insurance policy with a high surrender value in the early years of the policy.

Further considerations on Aviva MyChoiceSaver

  • How are Aviva or Aviva MyChoiceSaver investment returns based on historical performance?
  • How does Aviva MyChoiceSaver compare with Endowment policies from other insurance companies?
  • Can Aviva MyChoiceSaver fulfill my financial, insurance, health, and protection needs?

The above information may not fully highlight all the product details and features on Aviva MyChoiceSaver. Talk to us or seek advice from a financial adviser before making any decision about Aviva MyChoiceSaver.

Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.

Read About3 things to consider before taking up a new financial product

Is Aviva MyChoiceSaver suitable for me?

Contact InterestGuru using the form below. Our panel of Independent financial planners will advise accordingly, based on your financial profile and protection needs.

All financial reviews and proposals provided are 100% free of charge. There will be no obligation to take up any proposed financial products or services in any way.

*For a limited time, get attractive incentives when you take up any products that is proposed by our team of financial planners.

We compare quotations head to head on all leading insurers in Singapore

Personalised savings plans

Maximise your wealth with the best savings plans!

3 easy steps for your customised insurance savings plan
33%

Step 1: Getting to know you…

Let’s start with a brief introduction of your personal profile. This will allow us to adjust and provide the most relevant insurance savings plans for you.

Name:

Gender:

Birthdate:

66%

Step 2: Understanding your savings needs…

Please select your savings preferences to allow us to optimise the financial returns of your savings plans:

You have a yearly savings budget (annual premium) of:

You intend to have a saving commitment for a period (premium term) of:

100%

Step 3: Finding the best insurance savings plans for you!

Interestguru.sg team of financial planners will compare and provide you with the best insurance savings plans based on your inputs.

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Personalised savings plans

 

Before you go...
Aviva MyChoiceSaver may be a good fit towards your current financial goals. However, there could be way more plans out there with features and/ or benefits that could be more relevant to you at a lower cost.
Drop us a message and find out about customised options across multiple insurance companies. You deserve to get the best out of your hard-earned savings!
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