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Investment Linked Plan

TM FlexiCover: Adaptable Investment-Linked Insurance for Life's Changing Priorities

As life evolves, so do your financial priorities. Whether you're starting your career, planning a family, or preparing for retirement, having a versatile protection and investment plan is crucial. TM FlexiCover, a regular premium whole life investment-linked plan (ILP) from Tokio Marine Life Insurance Singapore, is designed to adapt to your changing lifestyle needs. This innovative product offers a unique blend of life insurance protection and investment opportunities, allowing you to adjust your coverage and investment strategy as you progress through different life stages. With TM FlexiCover, you can stay protected while building your wealth, ensuring that your financial plan remains aligned with your current goals and future aspirations.

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How Investment-Linked Policies (ILPs) Work

Investment-Linked Policies (ILPs) combine life insurance protection with investment opportunities, offering a unique approach to financial planning. With an ILP like TM FlexiCover, your premium is allocated between insurance coverage and investment units in professionally managed funds. The insurance component provides protection against risks such as death or total and permanent disability, while the investment component allows your money to potentially grow over time. You have the flexibility to choose from a range of funds with different risk levels and investment strategies, tailoring your portfolio to your risk appetite and financial goals. The value of your policy fluctuates based on the performance of your chosen funds, giving you the potential for higher returns compared to traditional life insurance policies, albeit with some investment risk.

TM FlexiCover Insurance Coverage

TM FlexiCover provides comprehensive insurance coverage to protect you and your loved ones against life's uncertainties. The policy offers essential benefits to ensure financial security in the face of unexpected events. Let's explore the key coverage components of TM FlexiCover:

Death Benefit

TM FlexiCover provides a death benefit to your beneficiaries in the event of your passing. The payout will be the higher of the basic sum assured or the policy value, ensuring your loved ones receive financial support when they need it most.

Total and Permanent Disability (TPD) Benefit

While not explicitly mentioned in the provided product details, many ILPs typically include TPD coverage. It's advisable to check with a Tokio Marine representative for specific information on TPD benefits under TM FlexiCover.

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TM FlexiCover Rider Options

TM FlexiCover offers a range of optional riders to enhance your protection and tailor the policy to your specific needs. These riders provide additional coverage for various scenarios, allowing you to create a comprehensive insurance package. Here are some of the rider options available with TM FlexiCover:

Critical Illness Coverage

Optional unit-deducting riders are available to provide coverage for early, intermediate, and advanced stages of critical illnesses. These riders offer financial support without affecting your basic plan's coverage or investment value.

Premium Waiver

Optional premium-paying riders can be added to waive future premiums in case of unfortunate events. This ensures your policy remains in force even if you're unable to pay premiums due to specified circumstances.

Additional Protection

You can enhance your coverage with riders for total and permanent disability, terminal illness, or additional death benefits. These riders provide extra financial security for various life events.

TM FlexiCover Investment Component

The investment component of TM FlexiCover allows you to potentially grow your wealth while enjoying insurance protection. With access to a range of professionally managed investment-linked sub-funds, you can build a diversified portfolio tailored to your financial goals and risk tolerance. Here's an overview of the investment features offered by TM FlexiCover:

Fund Options

TM FlexiCover offers a variety of investment-linked sub-funds to choose from. While specific fund types are not detailed in the provided information, ILPs typically include options such as equity, balanced, and fixed income funds to suit different risk profiles.

Professional Management

The funds are professionally managed by experienced fund managers who aim to maximize potential returns over the long term. This allows you to benefit from expert investment strategies without having to actively manage your portfolio.

Fund Switching

TM FlexiCover offers a fund switching benefit, allowing you to take advantage of market movements and potentially maximize returns. You can adjust your fund allocation as your investment goals or market conditions change.

Performance Tracking

While specific historical returns are not provided, it's important to note that past performance is not indicative of future results. The actual benefits payable will depend on the performance of the underlying assets of the chosen funds.

Fees and Charges

Understanding the fees and charges associated with TM FlexiCover is crucial for making an informed decision. These costs impact your policy's overall performance and value. Here's a breakdown of the key fees and charges you should be aware of:

Premium Allocation

While specific details are not provided, most ILPs have a premium allocation charge. This is the percentage of your premium that goes towards fees before the remainder is invested in your chosen funds.

Policy Administration

A policy administration charge may be applied to cover the cost of maintaining and servicing your policy. The exact amount is not specified in the provided information.

Fund Management

An annual fund management charge of 1.25% is mentioned in the illustration. This fee covers the cost of professional fund management and may vary depending on the specific funds chosen.

Surrender Charges

While not explicitly stated, ILPs typically have surrender charges if you terminate the policy early. These charges usually decrease over time and are designed to recover the insurer's costs.

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Flexibility and Customization

TM FlexiCover stands out for its flexibility, allowing you to adapt your policy as your life circumstances change. This adaptability ensures that your insurance and investment strategy remains aligned with your evolving needs and financial goals. Here are the key features that offer flexibility and customization:

Premium Top-ups

You can make ad-hoc top-ups with a minimum amount of S$1,200 at any time after policy inception. These top-ups allow you to invest more when you have extra funds available, potentially boosting your investment growth.

Partial Withdrawals

TM FlexiCover allows partial withdrawals with a minimum amount of S$1,000. This feature provides access to your funds when needed, though withdrawals from regular premium units may reduce the basic sum assured.

Premium Holiday

After paying premiums for the first two policy years, you can take a premium holiday. This allows you to temporarily pause premium payments while maintaining coverage, provided there are sufficient units to cover fees and charges.

Adjustable Coverage

You can increase or decrease your protection cover to match your life stage. For instance, you can increase coverage when starting a family or reduce it to zero (subject to conditions) as you approach retirement to focus on investments.

Conclusion

TM FlexiCover offers a versatile solution for individuals seeking a balance between life insurance protection and investment opportunities. This policy is particularly well-suited for:
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