Showing posts with label cash benefit. Show all posts
Showing posts with label cash benefit. Show all posts

Early Detection Critical Illness Policy from Tokio Marine Group

Product will Be Terminated from 29 Jan 2018
So much talk has been made on Critical Illness plans from Singapore insurance companies since most pay out only during the last or final stages of the chronic illnesses; to which many clients rebutted saying that they won't have any use for the money since it's as good as a death benefit. Well you will be happy to know that Tokio Marine Life Insurance has a product to resolve this issue and the plan is called TM Early Care, which pays on early, intermediate or advanced stages of the stated Critical Illness*. The product can be sold as a stand alone or as a rider.

What is so special about TM Early Care?

  • Extra 25% of Sum Assured will be paid out if Critical Illness happens before age 65 next birthday.
  • Future premiums are waived if there's remaining coverage after early diagnosis of the critical illness.
  • Extra payout will not reduce the Sum Assured (Early Stage Maximum Limit is $75,000) *
  • Multiple claims for different critical illness or dread disease are allowed.
  • Another Extra 20%, subject to a maximum limit of $25,000 can be paid out for the following 5 Special Benefits:                                                                                                                          (i) Diabetic Complications
    (ii) Osteoporosis
    (iii) Severe Rheumatoid Arthritis
    (iv) Dengue Haemorrhagic Fever
    (v) Breast Reconstructive Surgery following a Mastectomy
    Payment of Dread Disease Benefit will not reduce the amount payable under Special Benefits
  •  A Death Benefit of S$20,000 will be paid out in a lump sum regardless of the Sum Assured.
  • A biennial cash benefit of S$100 is payable starting from the 2nd Policy Anniversary till the end of the coverage term, even when there are claims.
  • Critical Illness Benefit or Special Benefit must have the client survive for 7 days from the date of diagnosis before being able to disburse payout to them
  • Customer can buy from as young as age 1 till age 65 and coverage can be remain up till 85 age next birthday for the insured.
* Please refer to policy or product summary for details. If you want to find out more about the product or want to have a more comprehensive cover in your insurance portfolio, do contact us.

As at 08 January 2016, the Tokio Marine Group has launched another rider to assist in the recovery process if Cancer were to strike.

TM Wealth Enhancement (Cash)

Do not let the headline mislead you. This plan DOES NOT require you to finance in cash only. TM Wealth Enhancement (Cash) is basically the official name of the policy which is a single premium plan that pays you cash benefit of 10% of the Sum Assured every 2 years!

For Cash paying clients, treat yourself to a vacation or spend it on your loved ones. For CPF investors, it is still a great plan to maximize your retirement nest egg through this option! You also have the option of re-investing the cash benefits with Tokio Marine at an attractive interest rate. Whichever option you choose, you reap all the benefits!


TM Attractive Returns

 Flexibility to Choose
TM wealth enhancement (Cash) allows you to purchase using cash or funds from your CPF-OA or SRS accounts. The plan offers policy terms from 13 to 21 years and it's a great program for meeting different milestones in your life.

As you can see from the illustration below, the total maturity proceeds from the cash benefits and maturity payouts are easily at least 75% guaranteed!

TM Wealth Enhancement Maturity Benefits and Cash Payouts


For some of you who feel that to wait a minimum of 13-14 years is pretty long for the policy, be comforted to know that the policy pays out GUARANTEED cash benefits to you every 2 years, thus in actual fact you are already having your money returned progressively to you from the second year onwards! You can even use the cash benefits payout to fund another smaller premium policy on an annual mode!

However, if you still feel more secured with having a policy with a shorter period, then you can also consider Tokio Marine Life Insurance Singapore's 5 year plan, TM Enrich. (However, this policy has to be financed by cash only)
Guaranteed Protection
With TM Wealth Enhancement (cash), should any unforeseen events happen to you (Death or TPD), it will pay the full sum assured plus any attaching bonuses over and above the cash benefits you may have already received. (TPD coverage is until the policy anniversary preceding age 65).

If you want to know more about this plan, feel free to contact us.