If you aren't already confused about all the different insurance plans available, here's a new type of plan to befuddle you further: retirement savings plans.
AXA, Manulife and Tokio Marine are just some of the insurers who have launched new plans to cater to the growing demand for retirement products in Singapore. The plans generally promise regular payouts over 10 to 30 years to provide you with income that can supplement your retirement expenses. The main difference between the plans which you probably need to consider lie in their type of payout (fixed, variable or increasing) and the duration of premiums paid.
With the fixed payouts under the AXA RetireHappy plan, for instance, you pay $76,140 over 15 years and get an aggregate cash payout of $6,000 a year when you hit 60 to 80. The total ......
