AIA Retirement Saver III Product Information

AIA Retirement Saver III
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Last Updated on by Tree of Wealth

AIA Retirement Saver III Main Product Features

AIA’s Retirement Saver is a basic retirement plan and it does the requirements of a retirement plan and has some enhancement that AIA launched on the 5th of May 2020, here are the key features of AIA’s Retirement Saver III:

  • Select retirement age of 55, 60, 65 and 70.
  • Premium term of single lump sum, 5, 10, 15, 20 years or choice to pay up to selected retirement age of 50, 55, 60, 65 or 70 years old
  • Choice to pay up to selected retirement age – 55, 60, 65 and 70
  • Income Payout Period of 15 or 20 years
  • No medical check-up required, guaranteed issued
  • Cash and SRS available
  • Capital guaranteed upon retirement (meaning you have to complete your premiums with no halfway withdrawal changes)
  • Critical illness waiver of premium supplementary benefits

AIA Retirement Saver III Benefits at a Glance

Surrender Cash Value: Yes

Death payout: Yes, at 101%. While most retirement plans in the market are at 105%

Disability Protection: None

Terminal Illness: None

Early Stage Critical Illness: Yes, Early Stage Critical Illness Waiver of Premium rider is available

 

This is Suitable For:

  • Wealth growth and accumulation for Retirement
  • Steady stream of income during retirement age
  • Complement CPF Life Payouts

This is Not Suitable For:

  • Critical Illness Protection
  • Death, TPD and Terminal Illness Protection (only has a 101% of total premiums payout)
  • Short Term wealth growth

AIA Retirement Saver III Conclusion

The AIA Retirement Saver III is a plain vanilla retirement plan. It has much to catch up on as compared to other retirement plans in the market, in terms of the returns especially. It has expanded to a wide range of premium terms now as well as the new 20-year Income Payout Period (as compared the 15-year payout period only, that makes retirement hard to plan, no flexibility), no disability protection at all and only 101% death coverage with no Total Permanent Disability and Terminal Illness.

Get in contact with us and let our professional advisors whom are comparing retirement plans day in and out advise you accordingly.

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