Kids are scoring better.
University fees are going up.
Will your
help them
By the time your kids enrol into University,
you can be sure of guaranteed returns on
your savings.
Structured. Safe. Secure.
So you want your child to pursue
higher education...
As a parent, thereÕs nothing more important to you
than your childrenÕs future and well-being. With a
University education, they are open to a world of
choices and have better opportunities to fulfill the
dreams they grow up with.
3
And even though 87% of the parents we surveyed
are saving specifically for their childÕs University
3
education and 56% of them are admirably
setting aside up to S$500 per month for
their childÕs education, the question
they are all asking is this:
am I doing enough?
1
Source: The Education Payoff - The Georgetown University Center on Education and the Workforce
2
Source: https://secure.mas.gov.sg/calculator/goodsandservices.aspx
The education cost is based on the percentage increase between 1996 and 2011.
How much does it cost to
get a degree?
So, exactly how much do you need for a degree in a local University?
And how much would a foreign degree set you back?
Here are the figures weÕve worked out for you...
Countries
Singapore
Year
2013
Cost of University education in Singapore, Australia, UK and USA
5
Australia
USA
S$30,000 - S$87,000 S$262,000 S$141,000 S$217,000
According to The Straits Times
(19 May 2013), a local University
degree programme costs
approximately S$30,000 to
S$87,000. And you can expect
to spend between S$141,000
to S$262,000 to study in
a foreign University.
5
UK
Source: The Sunday Times 19 May 2013, ÒIt now costs $262,000 for an Australian degreeÓ
© Singapore Press Holdings Limited. Reproduced with permission.
The Great Savings
Mismatch
Singaporean parents
we surveyed who are
saving for local or
overseas University
3
are actually aiming
for too low a figure!
The target sum is not even enough to cover tuition fees, let alone extras such
as books and living expenses. And by the time your child wants to apply to
University, inflation would have made the gap between your savings and the
funds needed, even wider.
We know your child is
worth 100% & more...
When it comes to your childÕs future, youÕd do all you can and more.
We get that.
Introducing MyEduPlan
A structured, safe and secure savings plan that not only guarantees
the amount you choose to save for your childÕs University education
but also ensures 100% capital guaranteed1.
This benefit is only one of the many great things
weÕre offering in our education plan.
Plan Benefits
MyEduPlan is Structured
Receive 4 Guaranteed Cash Benefits for your childÕs University
education, payable from the Payout Age onwards.
Benefit from our 2 additional Guaranteed Cash Benefits, payable
prior to the Payout Age. You can use them to celebrate your childÕs
educational milestones, or simply to meet expenses such as a laptop
purchase or airfare to visit an overseas campus.
Guaranteed
Cash Benefits
(GCB)
(% of Sum
Assured6)
Age
Celebrate educational
milestones
Aligned to childÕs University years
GCB 1
GCB 2
GCB 3
GCB 4
GCB 5
GCB 6
5%
5%
40%
20%
20%
20%
17 yrs
18 yrs
Payout Age
(19 or 21)
University
Year 2
University Year 1
Receive Projected Bonuses7 upon maturity
Choose from our two Payout Ages
according to your childÕs needs (19 or 21 years
at Age Next Birthday)
Pay premiums for only 10 years
(either monthly, quarterly, half-yearly or yearly)
University
Year 3
University
Year 4
Plan Benefits
MyEduPlan is Safe
100% Capital Guaranteed1
Guaranteed returns of up to 1.46%8 per annum
Plan Benefits
MyEduPlan is Secure
WeÕre in the business of catering for unforeseen circumstances.
And when it comes to securing your childÕs future, weÕd like to cover all
bases. Enjoy the assurance of knowing that in the event of worst-case
scenarios, your childÕs education fund is secured and will continue to grow.
Here are some of the life protection features and guaranteed issuance riders
you can add on to your basic education plan:
EasyPayer Premium Waiver9
In the event of Death, Terminal Illness (TI), or Total and Permanent
Disability (TPD) of the policyowner, all future premiums are waived
and your childÕs education fund will continue to grow.
Cancer Premium Waiver9
Upon diagnosis of Major Cancers10 of the policyowner, all future
premiums are waived Ð no need to worry about your childÕs savings
as you focus on getting better.
EasyTerm9
Pays out an additional lump sum cash payment of up to 5 times
your basic planÕs annual premium upon Death, TI or TPD of the
policyowner, should the worst happen.
For a complete list of riders, speak to your financial adviser today.
How does
MyEduPlan work?
Illustration for Payout Age 19 years (Age Next Birthday)
Mr Tan pays S$4,625 per year
for 10 years. Total premiums
paid = S$46,250
MichelleÕs Age
1
10
17
Guaranteed
Cash Benefits
(end of the year)
Premium Payment
(beginning
of the year)
Mr & Mrs Tan have a newborn (i.e. one-year old, age next birthday) daughter Michelle and wish
to save for her University education expenses. They also want to ensure that they have sufficient
money every year from the start of her University education to fund her University fees and
related expenses. They decide to buy MyEduPlan with a sum assured of S$50,000. How can
MyEduPlan help them?
S$2,500
18
19
20
: S$55,000
Projected bonuses at maturity
: S$22,086
Total MyEduPlan benefits
: S$77,086
11
22
(Age Next
Birthday)
S$2,500 S$20,000 S$10,000 S$10,000 S$10,000
Guaranteed Cash Benefits
7
21
Note: The above illustration is based on a MyEduPlan policy where Mr Tan has chosen to
pay an annual premium of S$4,625. This translates into total premiums of S$46,250 paid
over 10 years (S$4,625 x 10 years). The total MyEduPlan benefits of S$77,086 consist of
the Guaranteed Cash Benefits of S$55,000 and projected bonuses at maturity of S$22,086.
The projected bonuses are non-guaranteed and based on the projected investment rate of
return of 4.75% per annum, which is the higher rate as illustrated in the Benefit Illustration,
and will depend on the future performance of AvivaÕs Participating Fund. For more details,
please refer to the product summary. All figures are in Singapore dollars. The numbers in
the chart above have been rounded up to the nearest dollar.
Projected
Bonuses7
at Maturity
= S$22,086
For ju
st S$0 12
Mr
.3
secur Tan opted 4 a day
ity of
,
for ad
prot
dition
Shou
ec
a
his ch ld the wo tion ride l
is sec ildÕs edu rst happe rs.
n,
ca
ured
and tion fun
to gr will conti d
nue
ow.
Hence, MichelleÕs University Fund is assured with MyEduPlan!
How does
MyEduPlan work?
Illustration for Payout Age 21 years (Age Next Birthday)
Guaranteed
Cash Benefits
(end of the year)
Premium Payment
(beginning
of the year)
Mr & Mrs Lim have a newborn (i.e. one-year old, age next birthday) son Jeremy and wish to
save at least S$50,000 for his University education expenses. They also want to ensure that they
have sufficient money every year from then onwards to pay for his University fees and related
expenses. They decide to buy MyEduPlan. How can MyEduPlan help them?
Mr Lim pays S$4,405 per year
for 10 years. Total premiums
paid = S$44,050
1
May go for
National
Service at
19 & 20 yrs
10
17
18
S$2,500
S$2,500
JeremyÕs Age
21
22
: S$55,000
Projected bonuses at maturity
: S$26,719
Total MyEduPlan benefits
: S$81,719
11
24
(Age Next
Birthday)
S$20,000 S$10,000 S$10,000 S$10,000
Guaranteed Cash Benefits
7
23
Note: The above illustration is based on a MyEduPlan policy where Mr Lim has chosen
to pay an annual premium of S$4,405. This translates into total premiums of S$44,050
paid over 10 years (S$4,405 x 10 years). The total MyEduPlan benefits of S$81,719 consist
of the Guaranteed Cash Benefits of S$55,000 and projected bonuses at maturity of S$26,719.
The projected bonuses are non-guaranteed and based on the projected investment rate of
return of 4.75% per annum, which is the higher rate as illustrated in the Benefit Illustration,
and will depend on the future performance of AvivaÕs Participating Fund. For more details,
please refer to the product summary. All figures are in Singapore dollars. The numbers in
the chart above have been rounded up to the nearest dollar.
Projected
Bonuses7
at Maturity
= S$26,719
For ju
st S$0 13
Mr
.3
secur Lim opted 2 a day
ity of
,
for ad
dition
prot
Shou
ec
al
his ch ld the wo tion ride
is sec ildÕs edu rst happe rs.
n,
ca
ured
and tion fun
to gr will conti d
nue
ow.
Hence, JeremyÕs University Fund is assured with MyEduPlan!
Easy steps to apply
1.
Choose the amount you want to accumulate for your childÕs
University education.
2.
Decide on the year (Payout Age) when youÔd want your child
to receive the payout.
3.
Pay your premiums for just 10 years.
Make a commitment to your childÕs future now.
Visit www.aviva.com.sg
*Terms and Conditions apply.
Footnotes:
1. 100% capital guaranteed: The total Guaranteed Cash Benefits payable will be at least 100% of total premiums paid over the policy term.
2. Source: Singapore Yearbook of Manpower Statistics, 2013. Key statistics on employment outcome of graduates from institutions
of higher learning, 2007 - 2012.
3. Source: AvivaÕs Consumers Attitude to Savings for Child Education, conducted in November 2012.
4. Source: The percentage change is calculated using the Inflation Calculator for goods and services available at
https://secure.mas.gov.sg/calculator/goodsandservices.aspx for the period between 1996 and 2011.
5. Source: The Sunday Times 19 May 2013, ÒIt now costs $262,000 for an Australian degreeÓ © Singapore Press Holdings Limited.
Reproduced with permission.
6. The Sum Assured is the total of 4 Guaranteed Cash Benefits payable from the Payout Age and not the Death Benefit. For details,
please refer to the Product Summary.
7. The total projected bonuses are equal to any accumulated Reversionary Bonus and any Terminal Bonus. The Reversionary Bonus and Terminal
Bonus are non-guaranteed bonuses and depend on the performance of AvivaÕs Participating Fund. Reversionary Bonus is non-guaranteed,
but once declared and vested, it forms part of the fixed benefit of the policy. The non-guaranteed benefits are projected based on estimated
bonus rates and actual benefits payable will depend on the future performance of the Life Participating Fund.
8. Based on MyEduPlan purchased for a life assured (child) at age 1 Age Next Birthday (ANB), choosing Payout Age 21 ANB and Sum Assured
of S$250,000, paying an annual premium of S$21,713.
9. For more details on the riders, please refer to the Key provisions in the EasyPayer Premium Waiver, Cancer Premium Waiver, EasyTerm
Product Summary respectively. It contains details of Exclusions, Waiting Period and Survival Period (if applicable).
10.A malignant tumour positively diagnosed with histological confirmation and characterized by the uncontrolled growth of malignant cells
with invasion and destruction of normal tissue. The term malignant tumour includes leukemia, lymphoma and sarcoma. Please refer to
the Product Summary for the exact terms and conditions.
11.The total policy benefit consists of the 6 Guaranteed Cash Benefits, any accumulated Reversionary Bonus, any Terminal Bonus and any reinvested Guaranteed Cash Benefits with non-guaranteed interest (if not previously withdrawn), less any indebtedness owing to Aviva Ltd.
12. This is published for illustration purposes. Based on MyEduPlan for child at age 1 ANB, Payout Age 19 ANB and Sum Assured of S$50,000.
Male payor, age 35 ANB, non-smoker paying annual premium and opting for the following riders: EasyPayer Premium Waiver, Cancer
Premium Waiver and EasyTerm (Sum Assured = S$20,000 and 10 years policy term)
13. This is published for illustration purposes. Based on MyEduPlan for child at age 1 ANB, Payout Age 21 ANB and Sum Assured of S$50,000.
Male payor, age 35 ANB, non-smoker paying annual premium and opting for the following riders: EasyPayer Premium Waiver, Cancer
Premium Waiver and EasyTerm (Sum Assured = S$20,000 and 10 years policy term)
Important Notes
The policy is underwritten by Aviva Ltd.
This brochure 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 product summary in relation to MyEduPlan, EasyPayer Premium Waiver, Cancer Premium
Waiver and EasyTerm is available and may be obtained from Aviva Ltd and the participating distributorsÕ offices. You should read the product
summary before deciding whether to purchase the policy. You may wish to seek advice from a financial adviser before deciding whether
to purchase the policy. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product
in question is suitable for you.
Buying a life insurance policy is a long-term commitment. Early termination of the policy usually involves high costs and the surrender
value payable, if any, may be 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. Premium for Cancer Premium Waiver rider is not guaranteed and may be adjusted
based on future claims experience.This brochure 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 is correct as at January 2015.
This policy is protected under the Policy OwnersÕ Protection Scheme which is administered by the 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 (www.lia.org.sg or
www.sdic.org.sg).
Aviva Ltd 4 Shenton Way #01-01 SGX Centre 2 Singapore 068807. Tel: (65) 6827 9933 Fax: 6827 7900
www.aviva.com.sg Company Reg. No.: 196900499K GST Reg No.: MR-8500166-8
Aviva_MyEduPlan_A5_v1.1_Jan2015
Speak with your Financial Adviser or visit www.aviva.com.sg