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Investment Linked Plan

TM FlexiAssurance: Balancing Protection and Investment Growth

In today's dynamic financial landscape, finding the right balance between protection and investment growth is crucial. TM FlexiAssurance, a regular premium whole life investment-linked plan (ILP), offers a unique solution to this challenge. This innovative product provides comprehensive insurance coverage while allowing you to potentially grow your savings over time. With its flexible features and attractive benefits, TM FlexiAssurance is designed to adapt to your changing needs throughout different stages of life. Let's explore how this versatile plan can help secure your future and build your wealth simultaneously.

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How Investment-Linked Policies (ILPs) Work

Investment-Linked Policies (ILPs) combine life insurance protection with investment opportunities. In an ILP like TM FlexiAssurance, your premium is allocated between insurance coverage and investment units in chosen funds. The insurance component provides protection against death, Total and Permanent Disability (TPD), and Terminal Illness (TI). The investment component allows you to potentially grow your wealth by investing in a range of funds with different risk levels and potential returns. You have the flexibility to choose how your premiums are allocated and can switch between funds as your financial goals or risk appetite change over time. This unique structure enables you to tailor your policy to meet both your protection needs and investment objectives simultaneously.

TM FlexiAssurance Insurance Coverage

TM FlexiAssurance offers comprehensive protection against life's uncertainties. The plan provides coverage for death, Total and Permanent Disability (TPD), and Terminal Illness (TI), ensuring financial security for you and your loved ones. Let's explore the key aspects of this coverage:

Death Benefit

TM FlexiAssurance provides a death benefit of up to 300 times your annual premium. This substantial coverage ensures that your beneficiaries receive financial support in the event of your passing.

TPD Coverage

The plan offers Total and Permanent Disability (TPD) coverage until the policy anniversary on which you reach age 70. If you become totally and permanently disabled, the policy pays out the basic sum assured while continuing to provide potential growth in your savings.

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TM FlexiAssurance Rider Options

TM FlexiAssurance offers additional rider options to enhance your protection. These riders can be added to your base policy to provide more comprehensive coverage tailored to your specific needs. Here are the available rider options:

Waiver of Premiums

This rider ensures that your premiums are waived in certain circumstances, allowing your policy to remain in force even if you're unable to pay premiums due to unforeseen events.

Critical Illness Coverage

This rider provides additional protection against various stages of critical illnesses. It offers financial support to help you manage medical expenses and maintain your lifestyle during recovery.

TM FlexiAssurance Investment Component

The investment component of TM FlexiAssurance allows you to potentially grow your wealth over time. It offers various investment options to suit different risk appetites and financial goals. Here's an overview of the investment features:

Fund Options

TM FlexiAssurance offers a range of funds, including the TMLS Income and Growth Fund (TICG). This diversified fund aims to provide both income and capital growth, catering to different investment objectives.

Fund Management

The funds are professionally managed with a fund management fee of 1.25% per annum. This ensures that your investments are handled by experienced professionals aiming to optimize returns.

Fund Switching

You have the flexibility to switch between available funds as your financial goals or risk tolerance change over time. This allows you to adapt your investment strategy to market conditions and personal circumstances.

Performance Tracking

While past performance is not indicative of future results, you can track the historical returns of the funds. This information can help you make informed decisions about your investment allocations.

Fees and Charges

Understanding the fees and charges associated with TM FlexiAssurance is crucial for making an informed decision. Here's a breakdown of the key costs involved:

Premium Allocation

A portion of your premium is allocated to purchase investment units in your chosen funds. The exact allocation rate may vary and is detailed in the product summary.

Policy Administration

There is a monthly policy administration charge to cover the cost of maintaining your policy. The specific amount is outlined in the policy documents.

Fund Management

A fund management fee of 1.25% per annum is applied to manage the investment funds professionally.

Surrender Charges

Early policy termination or withdrawal of regular premium units may incur surrender charges. These charges decrease over time and are detailed in the policy contract.

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Flexibility and Customization

TM FlexiAssurance offers various features that allow you to customize your policy and adapt it to your changing needs. Here are some key flexibility options:

Ad-hoc Top-ups

You can make additional investments through ad-hoc top-ups with a minimum amount of S$1,200. These top-ups do not increase the basic sum assured and are not subject to surrender charges.

Partial Withdrawals

The policy allows for partial withdrawals, giving you access to your funds when needed. However, surrender charges may apply for withdrawals from regular premium units.

Premium Holiday

After paying premiums for the first two years, you have the option to take a premium holiday. This allows you to temporarily pause premium payments while maintaining your coverage, subject to certain conditions.

Coverage Adjustment

TM FlexiAssurance offers insurance coverage terms up to age 70 or 99, allowing you to choose the duration that best suits your needs. The coverage amount can be up to 300 times your annual premium.

Conclusion

TM FlexiAssurance is an excellent choice for individuals seeking a balance between life insurance protection and investment growth potential. It's particularly suitable for:
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