• Tokio Marine Life Insurance

    Tokio Marine Life Insurance Introduction:

    Abhay Saxena is a healthy 30 year old Singapore-based Indian guy who enjoys a whopping income of SGD 12000 per year. Let us assume that his yearly income grows at 10 percent and the inflation rate is about 4 percent. At the age of 55, his income would be roughly SGD 120,000 per annum. But if Abhay were to die at the age of 47, the loss of his family income would be around SGD 50,000 per year.”

    The entire scenario can be reversed with a life insurance policy as it can cushion the financial blow considerably and secure their future for over period of 25 years.

    This is life insurance and how it helps you.

    If you have loved ones that are financially reliant on you, then life insurance is an obligation. There have been countless cases where families were left penniless in the event of unexpected demise of the earning member who was either underinsured or worse, had no life insurance at all. This is definitely not something you can afford to cut corners.

    About Tokio Marine Insurance Company:

    Incepted in 1879 as the first insurance firm in Japan, Tokio Marine has developed phenomenally over the last 136 years. With a global presence in over 37 countries, it currently offers a wide choice of life insurance products and solutions among others.

    With a strong presence in Singapore, Tokio Marine Life has earned a name as a premier life insurance provider through their solid investment strategies, well-organized underwriting and cautious expenditure management.

    Tokio Marine Life Insurance:

    Tokio Marine offers a myriad of Whole Life Protection Policies.

    i. Tokio Marine Nest Egg Plan:

    The most sought-after Tokio Marine Life Insurance is of course the TM Nest Egg (LP) plan. TM Nest Egg (LP) plan is essentially a wealth amassing policy that gives your investments that added boost. This more-than-expected revenue guarantees that each one of your dimes is earning steadily.

    Features & Benefits of Tokio Marine Nest Egg Plan:

    • Attractive yields of up to 4.05 percent per year.
    • With a flexible premium disbursement tenure of 5 years, you can opt for terms of 10, 15 or 20 years.
    • TM Nest Egg (LP) provides financial security in the event of Demise or Total & Permanent Incapacity.
    • A TM Nest Egg (LP) for your child; add on waiver of premium riders on the lives of both you and your spouse. In that way, no matter what happens to either parent, your gift to your child is still secured.
    • Upon termination of your TM Nest Egg (LP), there is a Child Maturity Option that lets the child buy yet another whole life or endowment insurance policy for the assured sum without another medical exam.
    • You will get a substantial amount upon maturity, which can be used for further investment or indulgence.

    ii. TM Legacy LifeFlex:

    As a partaking whole of life policy made with a flexibility to escalate your cover through boosters, TM Legacy LifeFlex offers financial protection in the event of demise, life-threatening diseases, and total and permanent incapacity.

    Features & Benefits of TM Legacy LifeFlex:

    • This plan offers you flexibility to boost your need-based coverage up to 10 times.
    • This can be a reliable source of income during your golden years with cover for grave illnesses and other medical expenses.

    iii. TM Legacy:

    • Compared to the previously mentioned policies, this is a tad limited as it is long-term and gives financial security in the unfortunate events of death, disability and/or grave illnesses.
    • Premium Disbursement Tenures available are 5, 10, 15, 20 or 25 years.

    iv. TM FlexiAssurance:

    • As a regular premium whole life investment-linked insurance policy, it offers monetary cover up to age 99, covering demise, disability and critical disease.
    • The cover can go as high as 300 times of your yearly premium sum. In the event of disability or a grave illness, you can avail the basic assured amount while the policy remains active.

    v. TM Term:

    • It is a non-partaking term protection policy with regular premium and delivers cover against death, disability and terminal disease.
    • The term is renewable and convertible for 10 years and can be availed up to age 70, 75 or 99.
    • Guaranteed Renewal Privilege permits you to recommence without more medical papers.
    • Conversion Privilege lets you to change your policy prior to age 60 into a regular premium whole life or endowment plan while keeping your cover for demise, disability and critical disease.

    vi. Direct TM Basic Term:

    As the name suggests, it is a direct purchase insurance policy that you can buy without any financial guidance and protects you financially against death, disability and grave disease.

    Features & Benefits of Direct TM Basic Term:

    • Monetary cover up to age 85 against unfortunate events.
    • Coverage options range from 5 year term with assured renewal privilege up to age 85.
    • Guaranteed Renewal Privilege permits you to recommence without more medical papers.
    • To deliver you with more protection, DIRECT- TM Basic Term also offers a free DIRECT- Critical Illness (CI) Accelerator Rider.

    vii. DIRECT- TM Basic Whole Life:

    It is a direct purchase insurance policy that you can buy without any financial guidance and protects you financially against death, disability and grave disease for life.

    Features & Benefits of DIRECT- TM Basic Whole Life:

    • With more fiscal protection, it offers substantial payout to the family if demise, disability or terminal disease happens to the insured.
    • To assure you with more protection, DIRECT- TM Basic Whole Life also offers a free DIRECT- Critical Disease (CI) Accelerator Rider (any listed 30 critical illness).
    • DIRECT- TM Basic Whole Life endows you with a choice of premium disbursement schedules of either up to age 70 or age 85.

    Compare Tokio Marine Life Insurance With Other Insurance Companies Offering Life Insurance in Singapore

    FAQs - Tokio Marine Life Insurance

    1. How can I avail a Duplicate Policy?

      You must submit a duly completed Indemnity Form for Loss / Non-Receipt of Policy Document and a copy of either your NRIC or Passport.

    2. Is applying for Duplicate Policy charged?

      An administrative fee if SGD 15 is levied for requesting a Duplicate TM Life Insurance Policy.

    3. What are the available modes of premium disbursement method?

      You may opt to pay via cheque, cash or NETS at your nearest Tokio Marine branch or request for a TM staff to come and collect it or pay online.

    4. How can I update my change of contact details?

      Get a Request of Change form downloaded or collect it from your nearest TM branch. You can either email it or post it to our customer care center.

    5. When will I be eligible to apply for a Policy Loan?

      Policy loan will be offered when your policy has attained a certain money value as per your plan’s terms and conditions. Please remember that some kinds of policies (like those bought through CPF funds) do not come with this feature.

    Conclusion:

    Purchasing a Tokio Marine Life Insurance Policy can be a long-lasting obligation. Pre-closure of the plan generally encompasses more expenses and the submission value owed can be less than all the premiums you have paid until then. Hence think before you insure.

    News About Tokio Marine Life Insurance

    • Tokio Marine Named Tier 1 Significant Insurer by MAS

      The Monetary Authority of Singapore or MAS has named Tokio Marine Life Insurance Singapore Limited or LMLS as a Tier 1 Significant Insurer after recognizing S$5 billion worth assets associated with this insurance company.

      TMLS now maintains a leading position in the life insurance sector and has also contributed to the expansion of the Japanese Group Business Segment (J-Business). TMLS is not only the first but it is also the only Life Insurer to be successful in Singapore. The main focus of this “direct life insurer” according to this new status being assigned is ‘group insurance in-force business’ that has yielded positive results for TMLS.

      18th August 2016

       
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