Singapore, 16 June 2015 – AIA Singapore today launched the enhanced AIA Retirement Saver (II), which offers the option to provide guaranteed acceptance for major cancer1 coverage without questions asked and medical checks required, the first of its kind in the industry. While you’re planning for retirement, what if an unexpected event like a major cancer strikes?
Every day 34 people are diagnosed with cancer2. However, there is a high chance life will go on even when one is diagnosed with cancer:
5-year overall cancer survival rates3 for top common cancers in Singapore
89% - breast cancer
70% - lymphoma
60% - colon cancer
Should cancer strike, your retirement plan may get put on hold as you need to take a break from work temporarily and focus on treatment and recovery.
The Cancer Relief Income Rider (CRIR) pays an income upon a major cancer diagnosis, even before you reach retirement. This additional stream of income can help defray medical treatment fees or supplement your basic retirement plan’s premium, so your retirement plan can continue.
And at retirement age, you will receive two income streams - your retirement income and the continued cancer relief income all the way till your retirement plan matures.
In addition, the enhanced AIA Retirement Saver (II) offers consumers the options to take charge of their retirement planning with ease by allowing them to choose:
- When they wish to receive their retirement income
- How much they wish to receive during retirement
- How long they wish to receive their retirement income
- 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 consumers 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.