Savings with Protection

MyFlexiSaver

A 10-year endowment plan that gives you cash payouts with flexible options and insurance coverage with protection benefits

MyFlexiSaver

Whether you are saving for your child's university education, an upgrade to a bigger home, or towards your retirement fund, MyFlexiSaver can help you.

Choose your preferred way to save

  • use Fixed Cash Benefits1 to offset2 the 6th to 10th year annual premiums so you only pay your premiums for 5 years (default option)
  • receive Fixed Cash Benefits from end of 5th to 9th policy year
  • reinvest Fixed Cash Benefits with non-guaranteed rate of 3% p.a.3

How to Apply

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Product Details

Whether you are saving for your child's university education, an upgrade to a bigger home, or towards your retirement fund, MyFlexiSaver can help you.

Choose your preferred way to save

  • use Fixed Cash Benefits1 to offset2 the 6th to 10th year annual premiums so you only pay your premiums for 5 years (default option)
  • receive Fixed Cash Benefits from end of 5th to 9th policy year
  • reinvest Fixed Cash Benefits with non-guaranteed rate of 3% p.a.3

Protection Benefits

  • insurance coverage4 on Death, Terminal Illness and Total & Permanent Disability during the policy period.
  • wider coverage with additional benefit payout in the event of Accidental Death5.
  • add Cancer Premium Waiver6 and waive future premiums of your basic plan (until end of the rider term) upon diagnosis of Major Cancer7, so you continue work towards your goals, even if cancer strikes.
  • add EasyTerm8 (level term rider ) and get a lump sum cash payment of up to 5 times your basic plan’s total annual premium so you can pay all or part of your mortgage, pay for your children’s education, or provide for your dependents should the unforeseen occur

At maturity, receive the Maturity Benefit9 equivalent to 100% of Sum Assured10 plus any non-guaranteed bonuses and any reinvested FCBs with non-guaranteed interest (if not previously withdrawn), less any indebtedness owed to Aviva Ltd.

Hassle-free with guaranteed issuance

When you apply for both MyFlexiSaver and Cancer Premium Waiver, no medical check-ups or health questionnaires are required.

  1. Fixed Cash Benefits are paid starting from the end of the 5th policy year, payable yearly at the end of each policy year, until the year before policy maturity, upon survival of the Life Assured. Each Fixed Cash Benefit is equivalent to the annual premium payable on the basic plan.
  2. Each Fixed Cash Benefit is equivalent to the annual premium payable on the basic plan. The default option is set to offset the 6th to the 10th year annual premium. Should you prefer to choose other cash benefit options, you may instruct Aviva via a written notification.
  3. For the reinvested option, the non-guaranteed rate is currently at 3% p.a. and Aviva Ltd reserves the right to revise the non-guaranteed rate based on future experience.
  4. Receive payout of 101% of total premiums paid on basic plan, less any total Fixed Cash Benefits paid out, plus any accumulated Reversionary Bonus and Terminal Bonus and any reinvested Fixed Cash Benefits with non-guaranteed interest (if not previously withdrawn), less any amount owing to Aviva Ltd in the event of Death during the policy period. Terminal Illness and Total & Permanent Disability benefits are paid as an advancement of the Death Benefit during the policy period. For details, please refer to the Product Summary.
  5. If death is due to accidental injury before age 80 within the policy term, Aviva will pay an additional benefit equal to 101% of the total premiums paid on the basic plan, less any total Fixed Cash Benefits paid out.
  6. Please refer to the Key Provisions in the Cancer Premium Waiver’s product summary. It contains details of Exclusions, Waiting Period, Survival Period and Benefit Limitation.
  7. Definition of Major Cancers: A malignant tumour characterised by the uncontrolled growth and spread of malignant cells with invasion and destruction of normal tissue. The diagnosis must be supported by histological evidence of malignancy and confirmed by an oncologist or pathologist. Please refer to product summary for detailed terms and exclusions.
  8. EasyTerm provides a lump sum cash payment in the event of your Death, Terminal Illness or Total & Permanent Disability. For details, please refer to the Key Provisions in the EasyTerm’s product summary. It contains details of Exclusions, Waiting Period and Benefit Limitation.
  9. The Maturity Benefit is equal to 100% of the Sum Assured plus any accumulated Reversionary Bonus and any Terminal Bonus and any reinvested Fixed Cash Benefits with non-guaranteed interest (if not previously withdrawn), less any indebtedness owed to Aviva Ltd. The Reversionary Bonus and Terminal Bonus are non-guaranteed bonuses and depend on the performance of Aviva’s Participating Fund. Reversionary Bonus is non-guaranteed, but once declared, it forms part of the fixed benefit of the Policy. The non-guaranteed benefits are projected based on estimated bonus rates and actual benefits payable will depend on the future performance of the Life Participating Fund.
  10. The Sum Assured is not the Death Benefit. For details, please refer to the Product Summary.

Example of how MyFlexiSaver works

Scenario

Mr Chia, 35 Age Next Birthday, decides to save for his house renovation. Mr Chia estimates that he would need S$32,000 in 10 years' time and thus decides to sign up for MyFlexiSaver with a Sum Assured6 of S$20,000.

How MyFlexiSaver works – POSB Endowment Savings Plan

Note: Above illustration is based on MyFlexiSaver with S$20,000 as Sum Assured. Mr Chia would pay an annual premium of S$5,056 (rounded up) for 10 years. For Option A, Mr Chia decides to offset his 6th to 10th year premiums by using the Fixed Cash Benefits. The non-guaranteed bonuses of S$10,920 are projected at a projected investment rate of return of 4.75%. Hence, the total projected Maturity Benefit is S$30,920 based on Sum Assured of S$20,000 + non-guaranteed bonuses of S$10,920, as per the Benefit Illustration. For Option B, Mr Chia decides to reinvest all of his Fixed Cash Benefits. The reinvested Fixed Cash Benefits will be accumulated at a non-guaranteed rate of 3% p.a.9. Hence, the total projected Maturity Benefit is S$58,565 based on Sum Assured of S$20,000 + non-guaranteed bonuses of S$10,920 + reinvested Fixed Cash Benefits with projected non-guaranteed interest of S$27,645. The non-guaranteed bonuses are projected at a projected investment rate of return of 4,75% (S$10,920), which is the higher rate as illustrated in the Benefit Illustration and will depend on the performance of Aviva's Participating Fund. For details, please refer to the product summary. All figures are in Singapore dollars. The numbers in the illustration above have been rounded up.

Get Wider Protection

With MyFlexiSaver, Mr Chia can add on a Cancer Premium Waiver for less than 1% of his basic plan premiums (S$48.05 annual premium). This will ensure that Mr Chia's future premium payments of his MyFlexiSaver plan are covered7 upon diagnosis of Major Cancer4, and his savings plan remains intact.

  1. Fixed Cash Benefits are paid starting from the end of the 5th policy year, payable yearly at the end of each policy year, until the year before policy maturity, upon survival of the Life Assured. Each Fixed Cash Benefit is equivalent to the annual premium payable on the basic plan.
  1. Definition of Major Cancers: A malignant tumour characterised by the uncontrolled growth and spread of malignant cells with invasion and destruction of normal tissue. The diagnosis must be supported by histological evidence of malignancy and confirmed by an oncologist or pathologist. Please refer to product summary for detailed terms and exclusions.

  2. The Maturity Benefit is equal to 100% of the Sum Assured plus any accumulated Reversionary Bonus and any Terminal Bonus and any reinvested Fixed Cash Benefits with non-guaranteed interest (if not previously withdrawn), less any indebtedness owed to Aviva Ltd. The Reversionary Bonus and Terminal Bonus are non-guaranteed bonuses and depend on the performance of Aviva’s Participating Fund. Reversionary Bonus is non-guaranteed, but once declared, it forms part of the fixed benefit of the Policy. The non-guaranteed benefits are projected based on estimated bonus rates and actual benefits payable will depend on the future performance of the Life Participating Fund.

  3. The Sum Assured is not the Death Benefit. For details, please refer to the product summary.

  4. Please refer to the Key Provisions in the Cancer Premium Waiver’s product summary. It contains details of Exclusions, Waiting Period and Survival Period.

  5. Each Fixed Cash Benefit is equivalent to the annual premium payable on the basic plan. The default option is set to offset the 6th to the 10th year annual premium. Should you prefer to choose other cash benefit options, you may instruct Aviva via a written notification.

  6. For the reinvested option, the non-guaranteed rate is currently at 3% p.a. and Aviva Ltd reserves the right to revise the non-guaranteed rate based on future experience.

Estimate the savings you need for your goals and dreams.

  • Everyone has different goals when it comes to saving for the future, and these could change at different stages of your life. The question is, will your savings prepare you well enough to meet all of them?
  • Whatever goals you have – be it putting your kid through medical school, finding a bigger home for your growing family, travelling around the world, or even just getting your first car, our Savings Calculator can help you estimate the amount of savings you may need for your dream.

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