an article with the abovementioned title by ms genevieve cua in the weekend edition of the business times caught my eye.
in her article, ms cua touched on some basics of whole life and universal life products. she also said that the appeal of universal life lies partly in the flexible premium financiing and rightly pointed out the latter calls up a different set of risks of which one caveat is that as the client ages and a scenario should rates fall to the minimum crediting rate, it may be possible that the death benefit may decline and clients may be asked to top-up the premium to ensure the policy does not lapse. on this, ms cua pointed out that some universal life products do have a 'no-lapse' guarantee option but this comes with an additional premium.
the article singled out tokio marine life insurance tm legacy vip, a single premium participating whole of life plan with an immediate cash value, making it possible to take a policy loan after inception of the plan.
mr odd haavik of charles monat associates said that he liked what tokio marine life insurance is doing and their history of never cutting bonuses is a good selling point and reckons that this product is appropriate for a high net worth client so long as they are comfortable with the less transparent nature of the whole-of-life product as compared to universal life.
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