tomorrow, tokio marine life insurance will be unveiling the enhanced tm legacy plus (lp).
what is tm legacy plus (lp)?
this is tokio marine's response to manulife's life protector plus, a pioneer of the whole life plan embedded with minimum protection value.
this was followed by uob life uob maxi secure (bought over by prudential in february 2010), tokio marine tm legacy plus (lp), manulife's ultimate protector/star protector, axa life healthpro living, ntuc-income vivocare and most recently, aviva mylifechoice.
tm legacy plus is the flagship par product in tokio marine life insurance's stable and with the enhancements, reinforces it's value-added proposition against her competitors.
what are the likely enhancements to the existing tm legacy plus (lp)?
i was invited to the focus group last month when the enhanced tm legacy plus (lp) was presented to us by the management of tokio marine life insurance.
my comments:
suffice to say, i'm pleased that almost all of the focus group's inputs were incorporated into the enhanced tm legacy plus (lp).
the following are some of my own inputs while being noted by the management of tokio marine life insurance, are left on the drawing board for the time being:
a. addition of systemic lupus erythematosus as one of the 30 critical illness
b. raise the current tpd limit to S3.75 million (not aggregated across other
insurers)
c. extend the coverage of tpd to age 70 years and
c. incorporate an additional definition for tpd on not being able to perform
3 out of 6 adls.
but considering what is the underlying principle of tokio marine life insurance in terms of balancing the interests of policyowners, distributors and shareholders, i will still give my 2 thumbs up for the enhanced tm legacy plus (lp) which should gain wide acceptance with the fa channel, and more importantly, with the consumers as well.
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