About TM Retirement GIO
TM Retirement GIO is offered by Tokio Marine agents, CIMB relationship managers and financial advisors representatives. It is designed to help one to plan for his or her retirement by providing a lifetime annual retirement income from the policyholder’s chosen retirement age.
TM Retirement GIO is a recommended retirement tool especial for someone who plans to retirement beyond the increasing average life expectancy in Singapore. According to data released by the Department of Statistics Singapore, the life expectancy at birth of Singapore’s resident population is 83.6 in 2019 (up from 81.4 in 2009).
Females continued to have a higher life expectancy than males. The life expectancy at birth of females increased to 85.7 years in 2019 (up from 83.7 in 2009). The life expectancy at birth of males rose to 81.4 years in 2019 (up from 78.9 in 2009). With the increasing life expectancy, TM Retirement GIO provides lifetime annual income so that we do not run out of retirement funds during retirement.
TM Retirement GIO offers 3 retirement age and they are
- Age 55
- Age 60
- Age 65
TM Retirement GIO offers 3 payment options and they are
- 5 years
- 10 years
- 15 years
Pros of Tokio Marine Retirement GIO
- The retirement payout is lifetime and TM Retirement GIO will pay as long as the insured is alive (even if he/she lives beyond 100 years old!)
- The death benefit is higher than the total premium paid even after the annual payout is received. Unlikely other retirement plans, the death benefit decreases (even drop to zero) as the insured receives more payout during the retirement.
- The projected surrender value is also higher than the total premium paid even after the annual payout is received. This allows TM Retirement GIO to serve as part of an emergency fund during retirement.
Cons of Tokio Marine Retirement GIO
- The annual payout is slightly lower compared to other retirement plans.
- The annual payout is has a lower guarantee component and a higher projected component.
- TM Retirement GIO does not have the option of monthly retirement payout.
Lifetime Proof Your Retirement
- Have you started planning for your retirement?
- What happens if you outlive your retirement funding?
- Would you want to receive retirment income even in your 90s?