Aviva MyLifeIncome III Review

The complete Pros and Cons on Aviva MyLifeIncome III

Aviva MyLifeIncome III provides you with yearly payouts for life, receive additional cash flow to do the things you want or reinvest them for better returns.

Aviva MyLifeIncome III product details

  • Life policy – Endowment and Saving policy
  • Flexible Premium Term
    • Single premium or regular premium term of 3, 5, 10, 15, 20 or 25 years
    • SRS payment option available
  • Wide Range of Accumulation Period
    • Single Premium: 4 to 20 years
    • 3-year Premium Term: 2 to 20 years
    • 5, 10, 15, 20 or 25-year Premium Term: 0 to 20 years
  • Yearly Payouts
    • Upon reaching the end of the accumulation period, begin receiving up to 5.6% of the Sum Assured every year-end
    • Guaranteed (1.2% of Sum Assured)
    • Non-guaranteeed (4.4% of Sum Assured)
  • Booster Bonus
    • Receive an additional 0.35% of Sum Assured on top of yearly payouts upon reaching your 20th year of payout or age 60
  • Reinvest for Higher Returns
    • You can opt to reinvest your yearly payouts for better returns which can be withdrawn at a later time
  • 100% Capital Guaranteed
    • Capital is guaranteed upon the end of the accumulation period or earlier, depending on your chosen premium and accumulation period
  • Hassle-free Application
    • No medical check-up required
  • Wide range of riders
    • Cancer Premium Waiver II
      • Future premiums waived in the
        event policyholder is diagnosed with
        Major Cancer
    • EasyTerm
      • Lump-sum cash payment of up to five
        times basic plan’s annual premium
        in the event of policyholder’s Death,
        Terminal Illness or Total and
        Permanent Disability.
    • Critical Illness Premium Waiver
      • 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 MyLifeIncome III 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

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

Aviva MyLifeIncome III may be suitable if you are looking for

Aviva MyLifeIncome III 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 or
  • A one-time premium commitment with no further cash commitment
  • Lifetime regular cash payout
  • To potentially generate higher financial returns compared to bank accounts
  • Savings plan with insurance coverage against Death and Terminal Illness

Aviva MyLifeIncome III may not be suitable if you are looking for

Aviva MyLifeIncome III 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
  • 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 MyLifeIncome III

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

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

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

Is Aviva MyLifeIncome III 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.

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Before you go...
Aviva MyLifeIncome III 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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