tokio marine life insurance singapore - tm business continuation

newly launched, tm business continuation (rp) and tm business continuation (rp-dd) and these products are essentially clones of tm peace of mind (rp) and tm well being (rp-dd) respectively.

what is tm business continutation (rp)?

TM Business Continuation (RP) is a non-participating regular premium level term assurance plan. It provides coverage against Death, Terminal Illness and Total & Permanent Disability.

Premiums are payable throughout the Coverage Term. Coverage Term available for 5 or 10 years or up to ages 60, 65, 70 or 75 years.

Premium rates will not change throughout the premium term.

Guaranteed Renewability (applicable for coverage term 5 or 10 years only)

This additional feature allows the life insured to renew the policy at the end of the Coverage Term for the same Basic Sum Assured or lower without any medical evidence at the time of renewal.

The life insured may choose to renew the policy for a further term equivalent to the existing Coverage Term or lower, subject to the availability of the coverage term at the time of renewal.

However, the life insured may not renew beyond age next birthday 75 of the Life Assured. The policy will be renewed on the expiry of the existing policy. On renewal, the prevailing premium rate of tm business continuation (rp) corresponding to the life insured's age then will be applicable.

Convertibility Option

The Convertibility Option allows the insured to convert the policy to one of our regular premium or limited premium payment tm series participating plans available at the time of conversion:

with a Death Benefit which must not be greater than the Basic Sum Assured without any medical evidence;

at the prevailing premium rate which applies to the life insured's new attained age as at the date of conversion.

The life insured can exercise this option any time before the policy anniversary when the life insured attains age 60 on next birthday and while the policy is in-force.

The new policy is subject to prevailing guidelines and conditions at the time of conversion. It also cannot contain any dread disease cover.

Partial convertibility is allowed subject to prevailing guidelines and conditions at the time of conversion.