today is the official launch date of tokio marine life insurance's latest plan, tm legacy VIP.
being part of tokio marine life insurance's focus group, i had the privilege of giving our feedback to the management when the product was rolled out before the focus group some months ago.
what is tm legacy VIP?
tm legacy VIP is a participating single premium whole life plan designed as a solution to legacy planning needs by providing a high guaranteed death benefit in the event of death and terminal illness.
my comments:
tm legacy VIP is open to juveniles as well as adults and is denominated in S$. one unique selling proposition is in the form of a guaranteed (and non-guaranteed) cash value right from the very first policy year which is not found in currently available participating whole life products with the exception of manulife's solitaire which can be categorised as a similar class product.
the projected reversionary bonus struture is $10 per $1,000 sum assured compounded at 1% (based on a 5.25% projected investment rate of return) which has been assumed for many other tokio marine life insurance's participating products for many years and is not what i consider to be overly optimistic.
and tm legacy VIP rides on the insurer's sole distinction of never cutting bonuses in the entire history of the company since their existence in 1948.
this product is as 'plain vanilla' as u like without any complexities lurking in the contract and presents another option to legacy planning and merits serious consideration especially for those who are adverse to the risks of foreign currencies.
No comments:
Post a Comment