As the name suggests, this insurance provides coverage for life. Maybank offers two whole life insurance plans to match your financial objectives and coverage requirements. Take a look at both the plans in detail and their unique features and benefits:
Underwritten by Etiqa Insurance Pte. Ltd. (Etiqa), ePREMIER treasures has been designed to help you grow your assets while providing financial security to your loved ones. It’s a single premium plan, denominated in US Dollars, that minimises the market volatility risk by locking in the crediting rate for the first three years. This plan provides a minimum death coverage of US$500,000, which can go up. Check out some features and benefits of this plan:
- Protection against market volatility: This plan offers crediting rate of 4.10% p.a. that is locked in for a period of the first three years, thus minimising your exposure to market volatility. After the first three years, you will still get a minimum guaranteed crediting rate of 2.00% p.a., which can go up depending on market conditions.
- Single premium: You will have to pay a one-time premium to enjoy a minimum death coverage of US$500,000, which can go up depending on market conditions.
- Top ups/withdrawal: This plan offers you flexibility to top up your premium or make withdrawals during the life of the policy.
Here’s how ePREMIER treasures works:
Imagine you have assets worth US$8 million. You plan to save some amount for your retirement and keep the rest for your family when you are no longer with them. So, assume that you are keeping US$5 million for your retirement and US$3 million for the financial security of your family.
- Without ePREMIER treasures: If you don’t buy ePREMIER treasures, your total assets will remain at US$8 million, including US$5 million for your retirement and US$3 million for your family.
- With ePREMIER treasures: If you use US$1 million from your assets to buy this plan, you will get death coverage of US$3 million, which is exactly what you need to secure the financial future of your family. Also, now you have US$7 million for your retirement, instead of just US$5 million. With this plan, you have not only secured your family’s financial future but also increased your total assets to US$10 million.
ePREMIER legacy III
Underwritten by Etiqa, this is also a single premium plan designed to provide you protection for life against death and terminal illness. The plan offers guaranteed death benefits to help you ensure the financial security of your loved ones without compromising on your lifestyle. Check out some key features and benefits of this whole life insurance plan:
- Single premium: Since you will be paying a one-time premium, you will enjoy peace of mind and a lifetime of protection against terminal illness and death.
- Guaranteed death benefit: Get coverage of up to 238% of the value of your sum assured. The guaranteed death benefit factor (% of sum assured) depends on your policy entry age. Also, if an accident leads to unfortunate death on or before policy anniversary at the age of 80, your beneficiaries will get an additional 25% of the amount of guaranteed death benefit.
- Guaranteed liquidity: The plan guarantees liquidity of about 80% of the value of your one-time premium, with no minimum lock-in period.
Check out how this plan works:
Assume that you have three children and you have assets worth S$2.2 million. You wish to provide all your three children with S$400,000 each for their future and keep the rest for your retirement.
- Without ePREMIER legacy III: Without this plan, you will have retirement savings of just S$1 million, considering you plan to leave an amount of S$1.2 million for each of your children.
- With ePREMIER legacy III: You will have to invest just S$415,572 in this plan to provide your children with a guaranteed death benefit of S$1.2 million. This way, your retirement savings amount will go up to approximately S$1.8 million. So, you get death benefit as well as an increase in your total assets.