as promised, here's a brief description of the newly launched tm peace of mind (moneyback) from tokio marine life insurance singapore.
what is tm peace of mind (moneyback)?
TM Peace of Mind (MoneyBack) is a limited premium non-participating level term insurance plan which provides a refund of premium (if no claim has been admitted and paid)mat the end of the coverage term. tokio marine life insurance singapore will use the Annual Premium payment mode in calculating this amount.
This plan provides coverage against Death, Terminal Illness and Total & Permanent Disability (TPD).
Premiums are payable for the first 10 years for a Coverage Term of 20 years and premium rates will not change throughout the premium term.
my comments:
are there other insurers offering almost similar non-participating limited premium level term products with refund of premium on maturity of the plan (if no claim has been admitted and paid)?
well, the most similar class products like aia moneyback protector 20 and prudential pruterm total refund comes to my mind.
how about the pricing?
if we take the case of a male, 35 years old, non-smoker and a sum assured of $100,000.00
insurer annual premium
aia $1,777.00
tokio marine $1,452.00
prudential $1,765.00
as always, please engage a financial adviser to do a complete financial needs analysis before taking up any plan and signing on the dotted lines, even though there is the 14 days free-look period should u change your mind.
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