AIA Singapore unveils enhanced retirement policy

It features increased monthly dividends and lowered premiums.

AIA Singapore has unveiled the enhanced AIA Retirement Saver III which aims to address concerns around retirement amongst ageing Singaporeans who run higher risk of critical illnesses.

The policy offers lowered premiums by up to 15% and increased monthly dividend of up to 142%. The retirement policy also gives customers the option to delay retirement age till 70, offering higher maturity yield due to longer accumulation period.

“AIA Retirement Saver (III) was designed to help Singaporeans grow and protect their retirement funds so they can enjoy the lifestyle they desire in their golden years with certainty,” said AIA Singapore chief customer and marketing officer Ho Lee Yen.

Minimum single premium required for Supplementary Retirement Scheme plan has also been slashed to $11,200 (SG$15,000) whilst Critical Protector Waiver of Premium waives future premiums upon diagnosis of any of the covered Critical Illnesses (CIs).

“With this plan, we want to give our customers the confidence to take charge and plan for their retirement, which is easier and more achievable when they start at an early age. As Singapore tackles the challenges that accompany our demographic changes, we will continually enhance our products and services to meet our customers’ unmet protection needs, empowering them to live healthier, longer and better lives,” she added.