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.
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