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Best Single Premium Endowment Plans in Singapore 2024

Aviva MyLifeIncome II & NTUC Income Wealth Solitaire comparison

Last Updated on by Tree of Wealth

Best Single Premium Endowment Plans

When it comes to retirement, Lifetime Income plans are something that you should consider as they pay you a steady stream of income for life. They also come with either a single premium option or regular premium option.

In this article, we are going to look at 3 of the most competitive Single Premium Lifetime Income Plans in the market- plans namely by China Taiping, Singlife with Aviva and NTUC Income (Note: NTUC Income’s Wealth Solitaire has been withdrawn. The current iteration of the NTUC Income Luxe Solitaire is being compared). Some people compare Single Premium Lifetime Income Plans to buying a property and reaping the benefits of regular income. Feel free to check out our analysis of the Best Regular Premium Lifetime Income plans as well, you may find some suitable considerations.

The risks, market & maintenance degree that they operate in and tangibility are definitely vastly different, yet they are compared as they try to give a similar outcome by providing lifetime income with a single premium.

Singlife with Aviva MyLifeIncome III Features At a Glance

  • Guaranteed Life Income (Annually)
  • Up to 5.6% of Sum Assured yearly
  • Yearly Income = Guaranteed Cash Benefit (1.2% of Sum Assured) plus Cash Bonus (4.40% of Sum Assured)
  • 100% Principal Guaranteed
  • Protection Cover upon Death and Terminal Illness
  • Guaranteed Issuance Option: No medical questionnaire/ check-ups needed
  • Flexible Premium Modes
    • Choose to supplement premiums by cash or Supplementary Retirement Scheme (SRS)
    • Choose a one time Single Premium or go regular premium modes of 3, 5, 10, 15 years
  • Accumulation Period Options: Choose from 0 to 18 years Accumulation Period
  • Booster Bonus of up to 0.35% of Sum assured will be paid out yearly from the policy anniversary following the date where Life Assured turns 60 (Age Next Birthday) or end of 20th policy year after Accumulation Period ends, whichever is later.
  • Choice of When to Receive Yearly Income: Flexibility to choose the Premium term and Accumulation Period that is most suitable for you. The payout will start after the end of the Premium Payment Term and Accumulation Period.

Available Riders

  • EasyTerm (GIO)
  • Cancer Premium Waiver (GIO)
  • Critical Illness Premium Waiver

Read our full review of the Singlife with Aviva MyLifeIncome III.

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NTUC Income Luxe Solitaire Features At A Glance

  • Payout From End of 2nd Year (3rd Year Onwards): Start to receive monthly payouts until 120 years old. Annualized cash payout will amount to 3.648% of the net single premium paid (1.248% is guaranteed and 2.40% is non-guaranteed).
    • 3rd Year Monthly Cash Payout For Life: In over a year, the cash payouts can accumulate up to 3.648% of your net single premium. Over 12 months, this thus forms the guaranteed cash payout of 1.248% of net single premium and up to 2.40% of non-guaranteed cash bonus of the net single premium. The cash payouts add up to 3.648% consisting of guaranteed and non-guaranteed yields.
    • “Net Single Premium” means the premium that is portrayed on the policy illustration/ schedule or the revised amount if a part of it has been withdrawn previously, if any.
  • Protection Coverage: Be covered against Death and Terminal Illness of up to 105% of your net single premium with terminal bonus or the surrender cash value, whichever is higher.
  • Guaranteed Issuance Option (GIO): Acceptance is guaranteed regardless of your health condition. No medical questionnaires nor health check-up required.
  • Choose To Spend or Re-Invest: Re-investment rate of up to 3.25% refers to accumulating them with insurer (non-guaranteed rate).
  • Maturity Benefit: Upon attaining the age of 120 at the end of the policy term, you will receive a payout of 105% of the net single premium amount as well as a non-guaranteed terminal bonus. If there are any accumulated cash bonuses, they will also be paid. Having mentioned “Terminal Bonus’, this means that the policy will end and this is a final cash payout for the policy.
  • Secondary Life Insured Option: In the event of death on the Primary Life Insured, the plan can be passed on to the Secondary Life Insured to ensure the plan is continued with the compounding of the interest growth as well as monthly cash payout availability. A Secondary Life Insured can be child or ward below 18 years old, or spouse before 65 years old.

China Taiping Infinite Harvest III Features At A Glance

  • Monthly Cash Payout For Life Starting From 5th Year: The monthly cash payouts is up to 3.63% of the single premium paid (1.44% is guaranteed, 2.19% is non-guaranteed based on 4.25% projection).
  • Choose To Spend or Re-Invest
  • Capital Guaranteed: Upon maturity of the plan, the total premiums will be 100% guaranteed.
  • Attractive Payout Returns: Aside from plan maturity, up to 3.13% per annum will also be rewarded. You also have the option to accumulate your monthly income with us at the prevailing interest rate.
  • Protection Coverage: Be covered against Death on 105% of the single premium paid, a non-guaranteed terminal dividend as well as accumulated monthly cash payouts re-invested with Insurer, with the prevailing interest accrued.
  • Guaranteed Issuance Option (GIO)
  • Lifetime Income For Future Generations: Upon the child attaining 18 years old, choose to transfer the ownership of the policy to him/ her. This allows them in continuing to receive the monthly stream of income. Should your child passes on one day, there will be a lump sum payout for the 3rd generation of grandchildren:
CTP Infinite Harvest III for future generations
source: China Taiping

Read our full review of the China Taiping Infinite Harvest (III) plan.

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Returns Comparison



Singlife w Aviva

MyLifeIncome III

NTUC Income

Luxe Solitaire

China Taiping

Infinite Harvest III


$149, 620.65 $150, 000 $150,000 (minimum)

Payout from

Year 5 Year 3

Year 5

Guaranteed Monthly Payout

$104 $156 $135
Total Monthly Payout at 4.25% $485.33 $456


Principal Guaranteed Year 5 120 Years Old Upon Plan Maturity

Year 22

Interested to learn more?

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Get Advice For Your Legacy Endowment

With NTUC Income’s Luxe Solitaire, it has the fastest payout at the 3rd year with Singlife w Aviva’s MyLifeIncome III at a close second. MyLifeIncome III is also the shortest breakeven legacy endowment plan that quickly reaches on the 5th year (guaranteed value more than total premiums paid). We hope this in-depth review helps you in understanding the pros and cons of the plan, as well as aiding in meeting your endowment savings objectives. All endowment legacy plans have their own advantages and disadvantages and it is recommended that you choose one that is within your objectives and liquidity needs to ensure you get the best possible value.

Fill in the form below and our friendly licensed FA advisor will get in touch with you based on your needs.
No obligations, no hidden fees. All advice are of no charges.

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