MaxRetire Income

Pick your payout age for higher
monthly retirement income

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)

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 40 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 (by the end of each policy year):

Age next birthday Yearly premiums
41 S$12,215.45
: :
50 S$12,215.45
In total, she pays S$122,154

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$638 S$160,650 (bonus) + S$25,000 (maturity benefit) + S$3,238 (interest paid on unpaid cash bonus) = S$188,888
In total, she receives S$428,888

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$752 S$171,380 (bonus) + S$25,000 (maturity benefit) + S$3,329 (interest paid on unpaid cash bonus) = S$199,709
In total, she receives S$454,589
70 Guaranteed S$1,520 S$273,600
Non-guaranteed S$968 S$185,920 (bonus) + S$25,000 (maturity benefit) + S$3,410 (interest paid on unpaid cash bonus) = S$214,330
In total, she receives S$487,930

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

Plan your retirement portfolio with OCBC Life Goals

Earn these rewards when you build your portfolio with these products:

Secure retirement income with
MaxRetire Income

Get up to S$2,000 cash rewards when you purchase eligible endowment insurance plans

Build with Unit Trusts

Get up to S$100 worth of shopping vouchers

Safeguard with a Protection
Insurance Plan

Get up to S$400 cash reward

For a limited time only, receive additional cash rewards of S$150 when you complete the OCBC Retirement Planner with us and purchase two qualifying products at any branch.

2 ways to apply

Call us at
(65) 6722 2293

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