MyLifeIncome III

Receive guaranteed yearly passive income for life

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Giving you the freedom to pursue your goals

Imagine what your life would be if you had a stream of guaranteed passive income. Your passive income could tide you through a sabbatical from work or you could accumulate your yearly passive income to pay for bigger ticket items, such as a downpayment for your dream car.

With MyLifeIncome III, your dream of making money even when you don’t work, can become a reality. 

Lifetime yearly payouts

Your Yearly Income1 consists of Guaranteed Cash Benefit and Cash Bonus, that is up to 5.6% of your Sum Assured2.

100% capital guaranteed

Grow your money securely as 100% of your capital — the principal amount that you put into the plan — is guaranteed3 at the end of the Accumulation Period or earlier.

Increasing payouts

Receive a Booster Bonus4 which will increase your yearly payouts to up to 5.95% of your Sum Assured.  

What MyLifeIncome III offers

With the yearly payouts from MyLifeIncome II, you'll have an additional cash flow for your family holidays, children’s' education, retirement fund and more.

Key benefits

  • Guaranteed yearly income1 for life as long as the policy is in force.
  • Payouts of up to 5.6% of Sum Assured2 every year
    Yearly Income1 = Guaranteed Cash Benefit (1.2% of Sum Assured) plus Cash Bonus (up to 4.4% of Sum Assured).
  • 100% capital guaranteed3 at the end of the Accumulation Period or earlier, depending on your chosen premium payment term and Accumulation Period. 
  • Booster Bonus4 that is 0.35% of Sum Assured, will increase your yearly payouts starting from 20 years after your first payout or when you turn 60.
  • Option to reinvest your yearly payouts for higher returns
    Your reinvested Yearly Income and Booster Bonus can be withdrawn subsequently5.
  • Protection Cover
    Financial protection for death and Terminal Illness6.
  • Hassle-free application with guaranteed acceptance
    No medical check-ups needed.
  • Flexible premium payment method
    Pay premiums using cash or Supplementary Retirement Scheme (SRS) funds7.

Decide when you want to start receiving your Yearly Income

Pick the premium payment term and Accumulation Period that best suits your needs. Payouts start after the end of the premium payment term and Accumulation Period.

  • Premium payment term options:
    Single premium or regular premium payment term of 3, 5, 10, 15, 20 or 25 years8
  • Accumulation Period options (based on premium payment term):
    - For Single Premium: 4 to 20 years
    - For 3 years premium payment term: 2 to 20 years
    - For 5, 10, 15, 20, 25 years premium payment term: 0 to 20 years

Note: Accumulation Period is the period from the end of the premium payment term until the first payment of Yearly Income. The oldest you can start receiving your Yearly Income is at 80 years old. 

Up to 5% cashback on first-year premium

Sign up for MyLifeIncome III with a minimum annual premium of S$15,000 or single premium of S$125,000 to enjoy cashback. 

Terms and conditions apply.

Find out more

How MyLifeIncome III works

Patrick, age 40, gets MyLifeIncome III as a source of additional income that can help fund annual family holidays or supplement his child’s university allowance in future. He opts for a S$40,000 sum assured and pays yearly premiums for 5 years, a manageable option while he’s also raising a young family. He chooses not to have an Accumulation Period and starts receiving his Yearly Income at the end of his premium payment term.

^The total surrender value consists of the Basic Cash Value, i.e. Guaranteed Surrender Value and Terminal Bonus (if any). Please refer to the Policy Illustration for the illustrated Cash Surrender Value you may get for early policy surrender.  


The Cash Bonus, Booster Bonus and the surrender value are based on the illustrated investment rate of return of 4.25% per annum.

For illustrated investment rate of return of 3% per annum, the Cash Bonus is S$960, the Booster Bonus is S$80 and the surrender value at age 99 is S$83,980. As bonus rates are not guaranteed, the actual benefits will vary according to the future performance of the participating fund.

For more details, please refer to the Product Summary and Policy Illustration. The diagram above is not drawn to scale and the payout amounts have been rounded up to the nearest dollar.



Add-ons for extra protection

Cushion your savings from the impact of unforeseen events in life with these add-ons9.

Cancer Premium Waiver II

All future premiums waived in the event policyholder is diagnosed with Major Cancer.


Additional lump-sum cash payment of up to 5x basic plan's annual premium in the event of policyholder's death, Terminal Illness or Total and Permanent Disability.

EasyPayer Premium Waiver

All future premiums waived in the event of policyholder's death, Terminal Illness or Total and Permanent Disability, so your loved ones' savings fund will continue to grow.


Ready to set up a guaranteed stream of passive income?

Leave your details with us to turn your earned income into passive income today!

You may also call Aviva Financial Advisers a call at 65 6827 9980 (Mon - Fri, 9am to 6pm) if you're interested to purchase the product. 

If you have an existing financial adviser representative, please leave your details in the form below and they will be in touch. 

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This policy is underwritten by Aviva Ltd.

This is published for general information only and does not have regard to the specific investment objectives, financial situation and particular needs of any specific person. A copy of the Product Summary may be obtained from Aviva Ltd and the participating distributors’ offices. You should read the Product Summary before deciding whether to purchase the product. You may wish to seek advice from a financial adviser representative before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser representative, you should consider whether the product in question is suitable for you.

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. Buying a health insurance policy that is not suitable for you may impact your ability to finance your future healthcare needs. 

This is not a contract of insurance. Full details of the standard terms and conditions of this policy can be found in the relevant policy contract.

Information accurate as at July 2021.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you.  For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Aviva Ltd or visit the Life Insurance Association or SDIC websites ( or