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FWD Life Income In-Depth Review

FWD Life Income In-Depth Review

Last Updated on by Tree of Wealth

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The process of planning for retirement can be overwhelming, especially with the potential unpredictability of future economic conditions. Opting for the right retirement plan can make a significant difference to your financial stability and sense of calm. FWD Life Income is a life insurance policy that is customized to suit your retirement requirements, with a range of benefits and features. In this piece, we delve into the specifics of FWD Life Income to assist you in determining whether it is the ideal solution for your retirement needs.

FWD Life Income Features at a Glance

Early Guaranteed Special Benefit payout

FWD Life Income offers an Early Guaranteed Special Benefit payout which allows you to receive a Guaranteed Special Benefit of 6% of your policy’s sum insured at the 25th policy month.In addition, you can enjoy the advantage of receiving continuous lifetime passive income payouts after the third policy year. These payouts can be received on a yearly or monthly basis according to your preference, providing you with a reliable source of income during your retirement years. With this feature, you can maintain your standard of living without worrying about financial constraints.

Continuous passive income payouts

FWD Life Income provides protection not only for the policyholder but also for their loved ones. If the insured person becomes terminally ill or passes away, the policy pays a lump sum to the beneficiary. Furthermore, policyholders have the flexibility to change the insured person to ensure that their spouse or child receives the necessary financial protection in case of unforeseen circumstances. This feature enables policyholders to tailor their policy to their family’s specific needs.

Additionally, starting from the third policy year, policyholders can choose to receive a stream of cash benefits on a yearly or monthly basis. This passive income stream can be enjoyed by future generations and will only cease when the plan reaches maturity, is terminated, or if a claim is paid.

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Maturity Benefit

The policy term of FWD Life Income includes a unique feature that sets it apart from other retirement solutions. The maturity benefit is paid out if the current person insured is alive at the end of the policy term. This lump sum payout at the end of the policy term provides a much-needed financial boost in retirement years, ensuring a sense of financial security for the policyholder.

Protection For You & Your Loved Ones

FWD Life Income offers protection for policyholders and their loved ones. If the insured person becomes terminally ill or passes away, the policy pays a lump sum to the beneficiary. Additionally, policyholders have the option to change the insured person to safeguard their spouse or child, ensuring that they receive the financial protection they require in the event of unexpected situations. This Secondary Life Insured feature allows policyholders to customize their policy to fit their family’s particular requirements.

Secondary Life Insured Option

By appointing a secondary person insured, policyholders can ensure that their loved ones continue to receive coverage in case the current person insured passes away.

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Simple Sign-Up & Short Premium Terms

You can now select from three different premium payment terms that suit your financial needs: single premium, 5-year, or 10-year terms. This flexible feature empowers you to choose a payment term that aligns with your current financial status, allowing you to plan for your retirement without worrying about paying premiums for the rest of your life.

Simple Sign-Up:

FWD Life Income
source: FWD

You have the freedom to tailor your policy to match your retirement requirements and financial objectives. This personalized approach ensures that you can enjoy a comfortable and stress-free retirement, without having to pay premiums for your entire life. So, say goodbye to lifelong premium payments and say hello to a worry-free retirement with FWD Life Income.

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Cash Benefits Felxibility

You have the freedom to decide whether you want to receive or accumulate your cash benefits. Enjoy the flexibility of choosing the option that best fits your needs.

Policy Assignment

By means of a policy assignment, you have the option to transfer all the benefits and rights under your policy to another person. Upon completing the policy assignment, any cash benefits due will be disbursed to the new policy owner.

Supplementary Plans Available

CI Premium Waiver Rider

In case of a diagnosis of a critical illness in its advanced stage, you can opt to waive future premiums.

Payor Premium Waiver Rider

You can choose to waive future premiums in case of the payor’s death, critical illness diagnosis, or total and permanent disability.

How the FWD Life Income Works

FWD Life Income
source: FWD
FWD Life Income
source: FWD

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Before signing up for FWD Life Income…

It’s crucial to consider several factors carefully. Here are some key considerations to keep in mind before committing to any retirement plan:

  1. Your financial status: It’s important to assess your financial situation before taking out any insurance policy. Ensure that you can afford the premiums and that the policy aligns with your budget. Take into account your monthly expenses, outstanding debts such as a mortgage, car loan, or credit card debt.
  2. Your retirement objectives: Think about your retirement goals and how FWD Life Income can help you achieve them. Determine your desired lifestyle during retirement and how much passive income you need to support it. Plan for future expenses such as medical bills or long-term care.
  3. Policy features: Carefully evaluate the policy features, including continuous passive income payouts, maturity benefits, protection for you and your loved ones, and flexibility in premium payment terms and policy features. Ensure that these features align with your retirement goals and financial status.
  4. Policy exclusions: Like all insurance policies, FWD Life Income has exclusions. Carefully read through the policy documentation to understand the policy’s limitations and exclusions.
  5. The insurer’s reputation: Finally, consider the insurer’s reputation. FWD is a well-respected insurance company in Asia, with a strong financial rating and a reputation for excellent customer service. Read reviews and ratings from other policyholders to gain a better understanding of their experience with FWD.

Moreover, FWD Life Income provides flexible features that allow you to customize your policy to meet your specific needs. With FWD Life Income, you can be confident that your future is secure, providing you with the financial peace of mind you need during your retirement years.

Interested to learn more?

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Choose FWD Life Income for a Secure Retirement

If you are searching for a dependable retirement plan that can offer you continuous passive income and safeguard your family, FWD Life Income is an excellent option to consider. Its adaptable policy features, coverage against critical illnesses and death, and freedom from lifelong premium payments make it a distinct choice for securing your financial future.

It’s always a good idea to compare retirement plans in the market to find one that best suits your needs, if you’re unsure whether the plans are right for you, feel free to reach out to us for more information.

Our team of professional Financial Advisors can provide you with clear, jargon-free advice and help you understand the features and benefits of our retirement plans. There’s no obligation to sign up, so you can make an informed decision about your retirement without any pressure.

Contact us today to learn more about our retirement solutions and how they can help you achieve your retirement goals!

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