Plan ahead to retire in style. Look forward to a lifetime of paydays and yearly bonuses.
What is TM Retirement PaycheckLife
It is a limited pay, participating whole life plan that pays a guaranteed monthly paychecks1 for life, starting from the selected retirement age.
A non-guaranteed yearly bonus2 of up to 12 times3 the guaranteed monthly paycheck is payable on each policy anniversary for life
Death coverage4 is provided
Premium Payment Terms available: 5, 10 or 15 years
Retirement Ages available: age 55, 60 or 65
Guaranteed acceptance (no medical underwriting is required)
Choice of Single Life or Joint Life5 applications
Capital is guaranteed6 if it is held to maturity
Note 1 The first guaranteed monthly paycheck will commence on the policy anniversary on which the life assured reaches the selected retirement age. Refer to Product Summary for details. 2 The yearly bonus is an annual dividend and is non-guaranteed. 3 The yearly bonuses and dividends are based on a projected investment rate of return of 4.75% p.a. on the Participating Fund. As these bonuses and dividends are not guaranteed, the actual amount payable may vary according to the future performance of the Participating Fund. 4 Refer to Product Summary for details. 5 The retirement age is based on the older life assured. 6 Applicable to annual premium payment mode only.
Why is it important to you?
You can look forward to yearly bonuses of up to 12 times1 the guaranteed monthly paychecks2. This is paid for life, starting from your selected retirement age.
With these yearly bonuses1, you can:
Treat yourself to a well-deserved holiday every year
Receive at least 100% of your total annual premiums3in the form of:
- a guaranteed surrender value
- plus the guaranteed monthly paycheck2 once you reach your retirement age
Note 1 The yearly bonus is an annual dividend and is non-guaranteed. The yearly bonuses and dividends are based on a projected investment rate of return of 4.75% p.a. on the Participating Fund. As these bonuses and dividends are not guaranteed, the actual amount payable may vary according to the future performance of the Participating Fund.
2 The first guaranteed monthly paycheck will commence on the policy anniversary on which the life assured reaches the selected retirement age. Refer to Product Summary for details.
3 Applicable to annual premium payment mode only. It refers to the total annual premiums paid for the basic plan, excluding any premium loadings and interest paid for loans and reinstatement (if applicable) under the policy.
This is suitable if you want:
A security of lifetime income for your retirement years
A yearly lump sum benefit to supplement your retirement needs
A shorter premium commitment period
A hassle-free application without medical underwriting
A retirement income that lasts a lifetime for your spouse (joint life option1).
1 The retirement age is based on the older life assured.
This is not suitable if you want:
A high protection
Total and permanent disability coverage
A one-time premium commitment
Lump sum payout upon retirement
DeathPays a lump sum benefit in the event of Death.
Additional riders to enhance your protection
Cancer Waiver Rider
Future premiums will be waived in the event of diagnosis of Major Cancer.
(Enhanced) Payer Benefit Rider Future premiums will be waived in the event of Death, Total and Permanent Disability and/or upon diagnosis of any of the covered Critical Illnesses.
KidAssure GIO Rider
Covers death, child-related illnesses and hospitalisation benefit. In addition, 80% of premiums paid will be refunded upon the rider’s maturity at age 19.
All ages mentioned in this website are based on age next birthday.
All benefits and features mentioned herein are subject to terms and conditions of the policy. You must refer to the Policy Contract for the precise terms and conditions of this insurance plan.
All mentions of guaranteed monthly paycheck and retirement age in this web page refer to “guaranteed monthly cash benefit” and “payout age” respectively in the Product Summary and the Policy Contract.
All ages mentioned in this webpage are based on age next birthday.
This plan is underwritten by Tokio Marine Life Insurance Singapore Ltd. and is only available through our authorised distributors. Kindly obtain the required product disclosures and seek advice from a financial adviser before making a commitment to purchase this plan. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. It is also detrimental to replace an existing life insurance policy with a new one as the new policy may cost more or have fewer benefits at the same cost.
For policies distributed in Singapore:
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of the coverage, where applicable, please contact us or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg).
Information shown in this webpage is for reference only and is correct as at 25 April 2016.