Get a guaranteed yearly income for life

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A simple way to have a steady source of income

1 in 3 Singaporeans surveyed rely on their savings to live day-to-day.* Have more assurance with MyLifeIncome - savings plan that provides a lifetime of yearly payoutswith 100% capital guaranteed2.

Lifetime yearly income payouts

Your yearly income1 includes Guaranteed Cash Benefit and Cash Bonus that adds up to 6.2% of your Sum Assured3.

100% Capital Guaranteed

At the end of the accumulation period or earlier, depending on your chosen premium payment term2.

Decide when to receive your yearly income

Choose the premium payment term and accumulation period from various available options.

*Source: Aviva's Consumers Attitude to Saving, June 2018.

What MyLifeIncome offers

With the yearly payouts from MyLifeIncome, you'll have a steady source of additional income for life to enjoy the way you want - for your family holidays, kids' education or retirement fund and more.

Key benefits

  • Guaranteed yearly income1 for life
    As long as the policy is in force.
  • High payouts of up 6.2% of Sum Assured3 every year
    Yearly Income1 = Guaranteed Cash Benefit (2.2% of Sum Assured) plus Cash Bonus (4% of Sum Assured).
  • 100% Capital Guaranteed2
    At the end of the accumulation period or earlier, depending on your chosen premium payment term.
  • Protection Cover
    Death and Terminal Illness5.
  • Hassle-free application
    No medical check-ups needed.

Decide when you want to start receiving your yearly income

Pick the premium payment term and accumulation period that best suits your needs. Your yearly income payments start after the end of the premium payment term and accumulation period.

  • Premium payment term options:
    Single Premium or premium payment termof 3, 5, 10, 15, 20 or 25 years
  • Accumulation period options (Based on premium payment term):
    - For Single Premium: 4 to 40 years
    - For 3 years premium payment term: 2 to 40 years
    - For 5, 10, 15, 20, 25 years premium payment term: 0 to 40 years


Note: Accumulation period is the period from the end of the premium payment term until the first payment of yearly income.
Subject to Entry Age + Premium Payment Term + Accumulation Period, up to maximum of age 80 (Age Next Birthday).

Add-on riders to MyLifeIncome

Cushion your savings from the impact of unforeseen events in life with guaranteed issuance riders6.

Cancer Premium Waiver

All future premiums waived in the event policyowner is diagnosed with Major Cancers7


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

EasyPayer Premium Waiver

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

Ready to plan for your future?

With no medical check-ups needed and guaranteed acceptance, securing a lasting income is easy.

Terms and Conditions apply. 
For complete details, please refer to the product brochure and product summary or speak to your preferred financial adviser representative.

1Yearly Income will be payable at the end of every policy year starting from the end of the Accumulation Period, less any amount owing to Aviva Ltd, as long as the Life Assured is alive and while the Policy is in force.

The Yearly Income consists of:
1. Guaranteed Cash Benefit at 2.20% of the Sum Assured; and
2. Cash Bonus (non-guaranteed), if any at 4.00%* of the Sum Assured.
*Cash Bonus rate indicated above is based on an illustrated investment rate of return of 4.75% per annum which is the higher rate as illustrated in the Policy Illustration. Please refer to the Policy Illustration further information.

2The Guaranteed Cash Surrender Value is equivalent to Total Premiums Paid as at the end of Accumulation Period or the end of:

1. 8th policy year for Single Premium payment term;
2. 13th policy year for 3 years premium payment term;
3. 15th policy year for 5, 10, 15 years premium payment term; or
4. 25th policy year for 20 or 25 years premium payment term;
whichever is earliest, subject to terms and conditions of the policy.

The Guaranteed Cash Surrender Value will increase at 0.25% per annum (compounded) starting from the 5th policy year after the end of the Accumulation Period. 

3The Sum Assured is used to determine the Guaranteed Cash Benefit and Cash Bonus (non-guaranteed) payable yearly and is not the Death Benefit. 

4Subject to Entry Age + Premium Payment Term up to maximum of 75 Age Next Birthday (ANB).

5Death and Terminal Illness coverage is subject to the following conditions 

For Death Benefit 
While the Policy is in force, in the event of death of the Life Assured:
The Death Benefit payable will be the sum of:
1. The higher of:
- 101% of Total Premiums Paid for the basic plan (excluding advance Premiums and Premiums for Supplementary Benefits (if any) attached to the Policy); or 
- the Guaranteed Cash Surrender Value;
2. Terminal Bonus as declared by Aviva Ltd (if any); and
3. Any reinvested Yearly Income with non-guaranteed interest (if not previously withdrawn); less any amount owing to Aviva Ltd.

For Terminal Illness Benefit
Upon diagnosis of Terminal Illness of the Life Assured while the policy is in force, Aviva Ltd will pay the Terminal Illness Benefit in one lump sum, as an advancement of the Death Benefit.

6For more details on the riders, please refer to the Key Provisions in the Cancer Premium Waiver, Easy Term and EasyPayer Premium Waiver Product Summary respectively. It contains details of Exclusions, Waiting Period and Survival Period (if applicable). 
Note: For EasyTerm, Sum Assured is capped at S$250,000 per life assured.

7Definition of Major Cancers: A malignant tumour positively diagnosed with histological confirmation and characterised by the uncontrolled growth of malignant cells with invasion and destruction of normal tissue. The term malignant tumour includes leukaemia, lymphoma and sarcoma. Please refer to the Product Summary for the exact terms and conditions. 

The 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 the particular needs of any specific person. A copy of the Product Summary may be obtained from Aviva Ltd and the participating distributor's offices. You should read the Product Summary before deciding whether to purchase the policy. 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 health insurance products that are 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 plan can be found in the relevant policy contract.

Information last updated in Sept 2018.

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 Singapore or SDIC websites ( or