MaxRetire Income

Make your retirement funds
work harder with up to 4.18% p.a.

Three
payout ages

to choose from

Steady stream

of monthly retirement income

Eligibility

  • For Singaporeans: 25 to 55 years old (age next birthday)
  • For foreigners: 25 to 54 years old (age next birthday)

Receive returns of up to 4.18% p.a. if you are a Singaporean non-smoker turning age 45 next birthday, and have bought the MaxRetire Income 10 (Pay-to-85) and selected a later payout age of 70 years old. The non-guaranteed income is based on a projected investment rate of return of 4.75% p.a. and the actual benefits payable will depend on how the participating fund performs in the future.

MaxRetire Income is a regular premium endowment insurance plan designed to let you retire in comfort by providing a steady stream of monthly retirement income.

Do note MaxRetire Income is not a fixed or savings deposit, but an endowment insurance plan.

  1. The flexibility to meet your retirement needs:
    • Pay for 10 years, or until age 60 (age next birthday).
    • Receive your monthly retirement income from age 65 to either age 85 or 100 (age next birthday).
    • Change your chosen retirement payout age from age 65 to either age 67 or 70 (age next birthday). Simply provide your instructions to The Great Eastern Life Assurance Company Limited 6 months before the first monthly retirement income is paid out.
  2. Hassle-free application:
    • No medical underwriting is required when you apply for MaxRetire Income.
  3. Insurance coverage:
    • MaxRetire Income provides insurance coverage against death. It also has a compulsory Premium Waiver TPD (Own Life) Rider that waives off future premiums for the basic plan and any attaching riders in the event that the insured person suffers from total and permanent disability during the premium term.

Mrs. Tan is a Singaporean mother who is 45 years old (age next birthday). She bought MaxRetire Income 10 (Pay-to-85) and its Premium Waiver TPD (Own Life) Rider. She chooses to receive a monthly retirement income until age 85 (age next birthday).

The figures used are for illustrative purposes only. Please refer to the policy illustration and product summary for the exact values. The non-guaranteed income is based on a projected investment rate of return of 4.75% p.a. and the actual benefits payable will depend on how the participating fund performs in the future.

1 What Mrs. Tan pays

Age next birthday Yearly premiums
45 S$13,786.50
: :
54 S$13,786.50
In total, she pays S$137,865

2 What Mrs. Tan receives if she begins to receive her monthly retirement income at age 65 (age next birthday):

Payout age (age next birthday) Monthly retirement Income received till age 85 (age next birthday) Total retirement Income received
by age 85 (age next birthday)
65 Guaranteed S$1,000 S$240,000
Non-guaranteed S$492 S$123,900 (bonus) + S$25,000 (maturity benefit) + S$2,496 (interest paid on unpaid cash bonus) = S$151,396
In total, she receives S$391,396

3 What Mrs. Tan receives if she changes her payout age:

Payout age (age next birthday) Monthly retirement Income received till age 85 (age next birthday) Total retirement Income received
by age 85 (age next birthday)
67 Guaranteed S$1,180 S$254,880
Non-guaranteed S$580 S$132,240 (bonus) + S$25,000 (maturity benefit) + S$2,569 (interest paid on unpaid cash bonus) = S$159,809
In total, she receives S$414,689
70 Guaranteed S$1,520 S$273,600
Non-guaranteed S$747 S$143,360 (bonus) + S$25,000 (maturity benefit) + S$2,630 (interest paid on unpaid cash bonus) = S$170,990
In total, she receives S$444,590

What if she cancels the policy?

Within 14 days Within 3 years At age 65 (age next birthday) and beyond
Full refund No refund
She will not have all her money back
Receives at least all she has paid

What if the unfortunate happens?

Death Total and permanent disability
Her beneficiaries will receive a lump sum consisting of a guaranteed and non-guaranteed portion Her future premiums are waived and her policy continues

2 ways to apply

Call us at
(65) 6722 2293

Operating hours are from 9am to 6pm, Monday to Friday (Excluding public holidays)



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