Retirement Insurance

[starlight1968sg]

kitty2:

Anyone bought the above?Wonder is it better than Fixed Deposit or other insurance?

Which insurer?
An annuity?

[kitty2]

starlight1968sg:

kitty2:

Anyone bought the above?Wonder is it better than Fixed Deposit or other insurance?

Which insurer?
An annuity?

Sorry, I am quite clueless about it, . Whenever the agent approached me telling me about the retirement insurance, I just brushed them off.Now, think about it,it might be have a better return than the fixed deposit. :?

[starlight1968sg]

kitty2

I guess these agents may be referring to annuity plans.
There are plenty in the market, just depend on your preference…
Do note our CPF LIFE is an annuity plan too.

We can’t compare an annuity plan with a FD.

A FD is you place $$ with a bank and y mths later, you collect your $$ plus the agreed interest.

An annuity is you place $$ with an insurer and y years later, you start collecting a certain amt for some years OR until your last moment.

[kitty2]

starlight1968sg:

kitty2

I guess these agents may be referring to annuity plans.
There are plenty in the market, just depend on your preference...
Do note our CPF LIFE is an annuity plan too.

We can't compare an annuity plan with a FD.

A FD is you place $$ with a bank and y mths later, you collect your $$ plus the agreed interest.

An annuity is you place $$ with an insurer and y years later, you start collecting a certain amt for some years OR until your last moment.

:thankyou: I was thinking the fixed deposit interest is miserably low now,not sure will be a good move to buy the retirement plan.Perhaps, the interest rate is higher and I might be able to use them when I retired

Thanks for sharing

[starlight1968sg]

Am not in the finance industry and I do not know much.


I guess no harm to diversify "investments" noting ultimately the service providers will still gain from us.

[kitty2]

starlight1968sg:

Am not in the finance industry and I do not know much.


I guess no harm to diversify \"investments\" noting ultimately the service providers will still gain from us.

:thankyou:

[Yngmng]

I am thinking of purchasing the NTUC Sail Plan as the premium seems affordable. My only concern is that the payout is variable. Does anyone have any views on this plan? Or, would like to share on other retirement/ annuity plans?

[starlight1968sg]

Yngmng:

I am thinking of purchasing the NTUC Sail Plan as the premium seems affordable. My only concern is that the payout is variable. Does anyone have any views on this plan? Or, would like to share on other retirement/ annuity plans?

I have SAIL plans
Pls note the SAIL plan is not strictly meant for retirement. I take it as a single premium plan where I put a lump sum now and will receive a lump sum (hopefully bigger than the amt I put in) x years later
This plan does offer one an option to withdraw payout over y years
For insurance plans, look at the guaranteed values. The projected values hold no water. Even with the guaranteed values, if the insurer kaput, we are likely left with nothing

[mummyxoxo]

Read about NTUC SAIL plan and felt that it is similar to other annuity saving plans that are promoted by insurance providers (without any guarantee on the interest return)