Well, it still involves a substantial amount of money, but it will be coming from TM-legacy plus to your loved ones as an income replacement or simply as the gift from you to your loved ones, otherwise known as Your Legacy. This product is in essence a whole life plan to protect one against unexpected dread disease and death benefits. What makes TM Legacy Plus stand out from the crowd are some of the following benefits which are listed below (a few of them are revised from the older version):
- Limited payment premium : to allow you to better plan your budgeting; TM legacy plus is great for grandparents to leave a bequest for their grandchildren, because of this limited premium feature! Another group of people who can benefit from this feature, are probably young families who just want to try and clear all liabilities fast, so that they can do their family planning!
- Removal of exclusion clause for Critical Illness rider where Tokio Marine will not pay Critical illness claim for "any congenital or inherited disorder which first manifested itself before the Life Assured’s 7th birthday"- which is a big plus in this revised version of the policy against Tokio Marine's competitors because let's face it....we didn't choose to be born with congenital defects when we come into this Earth, so why should we be penalized for it?
- When placed against its closest competitor, Tokio Marine's business rival has very high non-guaranteed returns, compared against this revised plan.
- The Minimum Death Benefit (MDB) is extended to age 70 from 65 (in the older version). This applies to the Critical Illness accelerated rider as well: This is in fact the strongest selling point of this product! The MDB is shown in the table below.
There you have it; if you still want to know more about this incredible policy which has taken Singapore by storm, feel free to contact us and find out why Singaporeans are raving about this plan.
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