NTUC VivoWealth Solitaire is offered by NTUC agents, Independent Financial Advisors (IFA) and Relationship Managers (CIMB & BOC). It is a single premium participating endowment which provides monthly (Guaranteed & Projected) income from the 61st month of the policy. The policy will mature at age 100.
NTUC VivoWealth Solitaire is a very useful tool for personal retirement planning. It provides a monthly payout that can offset monthly expenses during retirement. A combination of this plan with CPF Life and other insurers’ retirement plan would give one a better peace of mind for his/her retirement.
NTUC VivoWealth Solitaire can also be used for multi-generation planning. A policy implemented in the life of child/grandchild would enable parents and grandparents to enjoy the benefit while they are alive and pass the monthly payout to the child/grandchild upon their demise. Upon the death of the insured, the beneficiary will receive the invested amount plus bonus.
The minimum entry to this plan is S$100,000.
Image is taken from income.com.sg
Pros of NTUC VivoWealth Solitaire
- The payout starts from the 61st policy month which is shorter than most retirement plan that payout based on age.
- Special bonus payout on the 20th and 30th policy year
- It has the highest monthly payout compare to similar plans in the market
- The monthly payout can be re-invested with NTUC currently at 3.5% p.a. (other insurers re-investment rate is 3%)
- The internal rate of return (IRR) is also higher than similar plans in the market
- Guaranteed acceptance with no medical examination required
Cons of NTUC VivoWealth Solitaire
- The surrender value is lower than similar plan in the market due to its higher monthly payout
To know if NTUC VivoWealth Solitaire is suitable for you and how it compares to similar plans in the market.
To know if NTUC VivoWealth Solitaire can pay out its projection returns based on past historical performance.
To see how a combination of NTUC VivoWealth Solitaire with other insurers’ endowment plan to provide you with a more holistic planning.
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Beside NTUC VivoWealth Solitaire, you may want to read up other endowment plans here.