Investment Linked Plan

TM goClassic: Flexible Planning for Your Evolving Financial Journey

In today's ever-changing financial landscape, having a versatile investment plan is crucial. Enter TM goClassic, a flexible investment-linked plan designed to adapt to your evolving needs and financial goals . Whether you're planning for retirement, saving for your children's education, or simply looking to grow your wealth, TM goClassic offers the flexibility and rewards to help you achieve your objectives.

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What is TM goClassic?

TM goClassic is an investment-linked insurance plan (ILP) offered by Tokio Marine Life Insurance Singapore . It's designed for medium to long-term regular investments, combining life insurance coverage with investment opportunities. The plan stands out for its flexibility, allowing you to customize various aspects of your policy as your needs change over time.

Key Features That Make TM goClassic Unique

Flexible Planning

  • Choose your premium term (5 to 25 years)

  • Select your preferred plan currency (SGD, AUD, GBP, USD, or EUR)

  • Make premium top-ups, withdrawals, and free fund switches

Rewarding Bonuses

  • Initial Bonus: Up to 141% paid over the first 3 years

  • Yearly Loyalty Bonus: Up to 0.5% p.a. from the 4th year onwards

  • Yearly Additional Bonus: Up to 0.2% p.a. from the 4th year until the end of the premium term

Choice of Life Cover

  • Advanced Death Benefit: During the premium term, receive the higher of 101% of your policy value or net premiums paid

  • Basic Death Benefit: Receive 101% of your policy value

Access to Curated ILP Sub-funds

  • Build a portfolio that meets your needs and risk profile

  • No bid-offer spread, offering cost savings

Optional Riders

Enhance protection with premium waiver riders for various scenarios

Why compare TM goClassic with other Investment Linked Plan options through Whatins?

Traditional Approach

  • Limited to one company's fund options
  • Only hear about advisor's preferred funds
  • Single perspective on investment strategy

Whatins Advantage

  • Compare fund options across multiple insurers
  • Get different views on investment strategies
  • See how different advisors approach fund selection
  • Understand varied fee structures

How TM goClassic Works

Let's break down the key components of the plan:

  • Premium Payment : You choose how long you want to pay premiums (5 to 25 years) and in which currency.

  • Investment Allocation : Your premiums are invested in ILP sub-funds of your choice. You have the flexibility to switch between funds as market conditions change.

  • Bonus Structure : Initial Bonus in the first three years, followed by Loyalty and Additional Bonuses from the fourth year onwards.

  • Life Coverage : You're protected with life insurance coverage throughout the policy term.

  • Flexibility Options : Make ad-hoc top-ups, perform partial withdrawals, switch between funds, change the life assured, or transfer policy ownership.

Real-Life Scenario

Meet Mark, a 35-year-old professional who signs up for TM goClassic with a monthly premium of S$2,000 over 25 years.

Initial Bonus : Mark receives a total of S$30,240 over the first 3 years (126% of his annualized premium).

Ongoing Bonuses : From Year 4, Mark starts receiving Loyalty and Additional Bonuses.

Long-term Growth : By the end of 25 years, assuming an 8% p.a. return:

  • His policy value grows to S$1,323,940
  • He receives a total of S$149,196 in cumulative bonuses

Throughout the policy term, Mark can make various adjustments to suit his changing needs, from top-ups to withdrawals and fund switches.

Customization Options

Premium Term

Choose anywhere from 5 to 25 years, depending on your financial goals and capabilities.

Plan Currency

Select from SGD, AUD, GBP, USD, or EUR, allowing you to align with your preferred currency exposure.

Fund Selection

Access a range of ILP sub-funds to create a portfolio that matches your risk appetite and investment objectives.

Optional Riders

Enhance your protection with various premium waiver riders for additional financial security.

Advantages of TM goClassic

  • Flexibility : Adapt your plan as your life circumstances change.

  • Bonus Structure : Boost your investments with multiple bonuses over time.

  • Currency Options : Choose the currency that best suits your financial planning.

  • Investment Opportunities : Access to a range of funds without bid-offer spread.

  • Life Coverage : Protect your loved ones while growing your wealth.

  • Rider Options : Customize your protection with various premium waiver riders.

Considerations

While TM goClassic offers numerous benefits, it's important to consider:

  1. Investment Risks : Returns are not guaranteed and depend on fund performance.
  1. Long-term Commitment : Early termination may result in high costs or loss of premiums paid.
  1. Charges : Various fees apply, including fund management charges.
  1. Complexity : The plan's flexibility means it requires active management and understanding.

Frequently Asked Questions

Can I change my premium amount?

The plan allows for ad-hoc top-ups, but changing the regular premium may have restrictions.

What happens if I miss a premium payment?

This could affect your policy value and coverage. It's best to discuss options with your representative.

How often can I switch funds?

You can switch funds regularly, often with no charge for a certain number of switches per year.

Is the bonus guaranteed?

Bonuses are not guaranteed and may vary based on fund performance and policy conditions.

Can I withdraw money anytime?

Yes, but withdrawals will affect your policy value and may incur charges.

Conclusion

TM goClassic offers a flexible and potentially rewarding way to combine investment and life insurance . Its adaptability makes it suitable for those whose financial needs may change over time. The bonus structure provides an attractive boost to your investments, while the range of customization options allows you to tailor the plan to your specific needs.

However, like all investment-linked plans, it comes with risks and requires careful consideration. The plan's value is tied to the performance of the chosen funds, and early termination can be costly. It's crucial to understand all aspects of the plan and how it fits into your overall financial strategy.

Before making a decision, it's wise to consult with a financial advisor who can provide personalized advice based on your unique situation and goals. They can help you understand if TM goClassic aligns with your financial objectives and risk tolerance.

Ready to explore your options further? Don't rely on just one perspective. Get expert insights tailored to your unique needs. Sign up now to receive 5 expert opinions on investment-linked insurance plans. These professionals will review your specific situation and provide personalized recommendations, helping you make the most informed decision possible.

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