TM Nest Egg (GIO Cashback)

OK, let's clear the air before we begin; as recently TMLS or Tokio Marine Life Insurance Singapore has launched a series of GIO products and in case you are wondering what does the acronym stand for; it is just short for Guaranteed Issuance Offer or in layman's term...you buy, they sell (No questions asked), except when you decide to add some "riders" into the policy, then the irritating health questions will start popping up.

I remember back in the heydays when AIA Singapore was the number 1 insurance company in Singapore, there was a product which was very popular amongst the ladies and that was the 18TMAE or some might call them the savings plan with coupons every 3 year. However with the low interest rates environment, those endowment policies slowly became obsolete.

But on 2 January 2014, the wonderful marketing team of Tokio Marine Life Insurance has brought a similar but BETTER product back to life! (No pun intended). The key features of the TM Nest Egg (GIO Cashback) are:

• Currently offers the highest return in the market at 3.8%
• Has limited payment term of 5 & 10 years (so you can plan your commitment in a more foreseeable time frame).
• Available policy term is 10 to 25 years (in multiples of 5 years)
• Guaranteed yearly cash benefits from 2nd year onwards. (in the past it was only every 3 years)
• Minimum Annual premium is $4500
• Maximum entry age is 75 ANB (Age next birthday) 
• Guaranteed Acceptance
• Yearly Cash Benefits can be re-deposited with TMLS at 3.75% pa at a Non Guaranteed rate.
• Death Benefit is at 105% of Total premiums paid plus accumulated bonuses.

 Want to know more? Contact us

TMLS Appoints New Chief Executive Officer

Effective 1 May 2012, a new beginning has commenced for Tokio Marine Life Insurance Singapore (TMLS), as they appoint a new CEO, Mr Lance Tay  to the helm.

Mr. Lance Tay joined TMLS in 2010 as the Head of Partnership Distribution where he w as instrumental in strengthening TMLS’ position as one of the leading life insurance product and service providers to financial advisory firms in Singapore.

He has over 27 years experience in the life insurance industry and has held various senior positions in Singapore and the region. Before joining Tokio Marine, Lance held a number of key positions in Singapore and the region, including Deputy CEO & COO of John Hancock Singapore and as Chief Marketing Officer of AIA Singapore.

Mr. David Beynon, who has led the business in Singapore for 22 months, has been appointed to the role as the President Director of Tokio Marine group’s new life business in Indonesia, which will operate officially as PT. Asuransi Jiwa Tokio Marine Indonesia.

Mr. Winson Yap, the current Head of Bancassurance, is promoted to the role of Chief Distribution Officer, reporting directly to the CEO. He will assume oversight of the individual life business development and training aspects of the Agency, Bancassurance and Partnership Distribution Departments.   In his new role, he will continue to actively engage the FA firms in maintaining our market leading position, embark on a focused strategy to grow the Agency force and also strengthen our Bancassurance presence in Singapore.

Ms. Margaret Chang, who is the current Head of Insurance Operations Division is re- designated to Chief Operations Officer, overseeing Underwriting, Claims, Customer Services and Change Management Departments.

A noticeable loss for Tokio Marine, will be Mr. Brian Hannan, as he steps down from his current position as Senior Vice President and Head of Agency Distribution