today, i attended a soft launch* of tokio marine life insurance's enhanced endowment products.
the 2 products are:
a. tm education (lp)
b. tm nest egg (lp)
what is tm education (lp)?
this is a juvenile limited premium participation endowment plan with limited premium options of 5, 10 or 15 years for policy term of up to ages 20, 21, 22 or 23 next birthday.
policyholders have the option of receiving the benefits in one lump sum or over several years to coincide with when the tuition fees (and other expenses) are due.
what is tm nest egg (lp)?
this is a limited premium participation endowment plan with limited premium options of 5, 10, 15, 20 and 25 years dependent on policy term options of 10, 15, 20, 25 and 30 years. minimum entry age 1 year age next birthday and up to maximum entry age of 70 years age next birthday (less policy term).
on maturity, the sum assured plus any attaching bonuses will be payable. alternatively, the maturity amount payable may be converted into a yearly payment while the remaining balance earns a non-guaranteed interest rate at 3.75%**. the amount may be paid over any period from 3 to 25 years.
*official launch date - july 11, 2011
**the interest rate of 3.75% is subject to change according to prevailing market conditions.
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