1 July 2013 Marks the Reduction of Interest Rates for all Insurers' Benefit Illustration

Yes, in case you have not noticed; all the BI (Benefits Illustration) from your prospective insurer should now reflect a lower interest rate from 1 July 2013 :

Higher Illustration Rate from 5.25% to 4.75%
Lower Illustration Rate from 3.75% to 3.25%

In line with the reduction as required by MAS (Monetary Authority of Singapore), all participating policies from Singapore insurers will be re-illustrated with new bonus/dividend scales to conform to the new requirements.

In case you are still lost as to what the above jargon means, here's a sample of the benefit illustration from an insurer :