Feb 03, 2016
Find out more about the newly enhanced AIA Retirement Saver (II) launched by AIA Singapore.
With the number of diagnosed cancer cases in Singapore rising to a whopping 34 people every single day1, there is also a high chance life will go on even when one is diagnosed with cancer, with 5-year overall cancer survival rates2 for top common cancers in Singapore such as breast cancer, lymphoma and colon cancer. This is why more and more people are looking for financial security in the face of the Big C. One company aims to provide just that.
AIA Singapore, a company committed to helping Singaporeans bridge their protection gap and attain their financial goals, understands the modern-day Singaporean’s need for innovative and holistic solutions to life’s unexpected twists and turns.
“When planning for retirement, many neglect to plan for the big C. Should cancer strike, your retirement plan may get put on hold as you need to take a temporary break from work and focus on treatment and recovery. As such, you need to ensure that your retirement plans are not disrupted by cancer,” says Ms Ho Lee Yen, Chief Marketing Officer of AIA Singapore.
To address this, AIA Singapore launched its enhanced AIA Retirement Saver (II). It now offers an optional Cancer Relief Income Rider (CRIR) which protects individuals and families alike in the event of major cancer diagnosis.
The CRIR, the first of its kind in the industry, provides guaranteed acceptance for major cancer3 coverage without questions asked and medical checks required. “The CRIR pays a monthly stream of income upon a major cancer diagnosis, even before you start retirement. This additional stream of income may help defray ongoing medical treatment fees and recovery cost, sustain your lifestyle or supplement your basic retirement plan’s premium, so your retirement plan can continue,” adds Ms Ho. Moreover, at retirement age, customers who’ve opted for the CRIR will receive two income streams - their retirement income and the continued cancer relief income all the way till their retirement plan matures.
This is not all the enhanced AIA Retirement Saver (II) offers. According to recent studies by AIA, thirty-five percent of the middle class in Singapore find saving for a comfortable retirement the most difficult goal to achieve4. Understanding this, AIA Singapore tailor-made the enhanced AIA Retirement Saver (II) to the pressing needs of Singaporeans.
“We have enhanced the AIA Retirement Saver (II), giving our customers more choices to help make planning for their retirement simpler and more achievable. We added more premium terms which makes it more affordable for the younger adult, to encourage Singapore families to start saving from an early age. Singaporeans with aspirations to retire earlier may now do so from as early as age 55 when they will receive a steady stream of retirement income for the next 15 or 20 years.”
The enhanced AIA Retirement Saver (II) offers customers the power to take charge of their retirement planning with ease by allowing them to have options such as when they want to start to receive their retirement Income, how much they wish to receive, how long they wish to receive the retirement income, and how long they wish to pay their premiums.
“We give choices catering to the unique needs and budgets of individuals and families in Singapore. This encourages customers to start saving for retirement no matter what age or life stage they are at, a critical consideration to help tackle Singapore’s retirement inadequacy,” says Ms Ho.”
As such, the enhanced AIA Retirement Saver (II) now protects Singaporeans holistically by enabling them to create robust retirement plans with adequate provisions for unexpected circumstances.
With its AIA Financial Services Consultants committed to providing quality financial advice and service to their customers, the company hopes to help its customers achieve their financial goals.
AIA Singapore is The Real Life Company that puts its customers at the heart of everything they do. The company will continuously conduct comprehensive research to uncover customer insights that help shape the development of innovative products and services.
1 Cancer Cases on the Rise in Singapore, The Sunday Times, 3 February 2014
2 Singapore Cancer Registry, Annual Registry Report Trends in Cancer Incidence in Singapore, 2009-2013
3 There is a waiting period of 24 months
4 Hopes and Aspirations of the Middle Class in Asia, AIA, 2014
At AIA Singapore, we have been serving the community since 1931.
As The Real Life Company, we help families lead longer, healthier, and better lives. We aim to make insurance easier for everyone – with quality financial advice and innovative products and services. We listen to customers to make sure we give them the financial security they really want.
AIA Group’s Vision is to be the pre-eminent life insurer in Asia-Pacific and we are committed to be Singapore’s pre-eminent life insurer, admired for our excellent service and best practices.