MyLifeChoice

MyLifeChoice
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Overview

MyLifeChoice is a whole life participating insurance plan that allows you to enhance your coverage for all the important life events such as marriage, starting a family and etc. And at the same time, accumulate cash value for retirement.

  1. Enjoy high coverage of up to 275%1 of the Sum Assured with Minimum Protection Value (MPV)

    Entry age 1-12 13-24 25-29 30-34 35-39 40-60
    Sum Assured MPV (% of basic sum assured)
    275% 250% 220% 200% 170% 150%
    S$100k S$275k S$250k S$220k S$200k S$170k S$150k
  2. Start accumulating cash values at 3rd policy year and participate in potential upside via non-guaranteed bonuses
  3. Enjoy additional coverage, up to 50% insurance coverage2 at any key life event3, without providing evidence of health
  4. Choice of premium payment term of 15, 20, 25 or until 80 age next birthday (ANB)
  5. Premium is fixed4 for the entire premium payment term
  6. Option to withdraw5 a lump sum
  7. Enjoy wider coverage and enhanced protection plan by including Total and Permanent Disability and Critical Illness rider.

Footnotes:

1 Applicable for a period of first 20 policy years or up to the Policy Anniversary when the Life Assured attains age 65 next birthday, whichever is earlier.

2 You will be able to purchase new non-participating level term protection coverage for Death or Terminal Illness benefit with extra premium payable, without providing evidence of health, for standard life only. This option can be taken up to 50% of MyLifeChoice basic Sum Assured, or up to a maximum of S$250,000 per life, whichever is lower. This is irrespective of the number of MyLifeChoice Policies the Life Assured may have and shall not exceed the prevailing maximum sum assured allowed on a per life basis for death coverage, including all other policies with Aviva Ltd.

3 The Policyholder may opt for this option at any of the following key life events (up to maximum 2 times per life time) before the Policy Anniversary when the Life Assured attains age 50 at next birthday:

  1. the Life Assured marries or divorce (i.e. change of marital status)
  2. the Life Assured becomes a parent and has a new born child, or legally adopts a child (i.e. adding a new child member to the immediate family)
  3. the Life Assured graduates from tertiary education.

4 Premium for optional riders that cover Critical Illnesses benefit is not guaranteed.

5 This option is only available after the premiums for the MyLifeChoice basic policy and Supplementary Benefits (if applicable) have been fully paid at the end of the premium payment term, provided no indebtedness upon the request for the Advance Cash Withdrawal. The Life Assured is given the option once per policy to withdraw a lump sum at Policy Anniversary when the Life Assured attains age 65 or at any Policy Anniversary thereafter before the policy matures. The lump sum amount is not guaranteed and the amount is determined at our discretion at the time when you request to exercise this option. If this option is exercised, the Maturity Benefit will no longer apply.