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Investment Linked Plan

TM goClassic: Flexible Investment-Linked Insurance for Your Evolving Needs

In today's dynamic financial landscape, having a versatile insurance product that adapts to your changing needs is crucial. TM goClassic, an investment-linked insurance plan (ILP) from Tokio Marine Life Insurance Singapore, offers a unique blend of life coverage and investment opportunities. This innovative product is designed to provide financial protection while allowing you to grow your wealth over time. With its flexible features and customizable options, TM goClassic aims to be a comprehensive solution for individuals seeking both insurance coverage and investment potential in a single plan.

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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 goClassic, a portion of your premium goes towards life insurance coverage, while the remainder is invested in a range of funds of your choice. The premium allocation varies based on factors such as your age, coverage amount, and chosen funds. TM goClassic offers a diverse selection of ILP sub-funds, allowing you to build a portfolio that aligns with your risk tolerance and financial goals. These funds can range from conservative fixed income options to more aggressive equity-based investments, giving you the flexibility to adjust your strategy as your needs evolve over time.

TM goClassic Insurance Coverage

TM goClassic provides essential life insurance protection to safeguard your loved ones' financial future. The policy offers two main types of coverage: death benefit and total and permanent disability (TPD) benefit. These benefits ensure that your beneficiaries receive financial support in the event of your untimely demise or if you become totally and permanently disabled.

Death Benefit

TM goClassic offers an Advanced Death Benefit during the premium term. This provides the higher of either 101% of your policy value or net premiums paid, safeguarding your life cover against market downturns.

TPD Coverage

While not explicitly mentioned in the provided details, TPD coverage is typically included in such policies. It would likely provide a lump sum payment if the insured becomes totally and permanently disabled, helping to cover ongoing expenses and care costs.

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TM goClassic Rider Options

TM goClassic offers a range of optional riders to enhance your protection and tailor the policy to your specific needs. These riders provide additional coverage in various scenarios, ensuring comprehensive financial protection for you and your loved ones. By adding these riders, you can customize your policy to address specific concerns and life events.

Cancer Waiver

This rider waives future premiums upon diagnosis of Major Cancer, ensuring your policy remains in force even if you're unable to pay premiums due to cancer treatment.

Early Critical Illness Premium Waiver

Waives future premiums for 5 years (up to 2 times) upon diagnosis of any covered Early or Intermediate Stage Critical Illnesses, providing financial relief during recovery.

Waiver of Premium

Waives future premiums upon diagnosis of any covered Major Stage Critical Illnesses, ensuring your policy continues even if you're unable to pay premiums due to a serious illness.

Payer Benefit Riders

Various payer benefit riders (Spouse, Enhanced Payer, Enhanced Spouse) waive future premiums in the event of death, total and permanent disability, or diagnosis of covered Major Stage Critical Illnesses of the policyholder or spouse.

TM goClassic Investment Component

The investment component of TM goClassic offers policyholders the opportunity to grow their wealth over time. With access to a diverse range of funds and the flexibility to adjust your investment strategy, you can tailor your portfolio to meet your changing financial goals and risk tolerance. Understanding the investment options and features is crucial to maximizing the potential of your TM goClassic policy.

Fund Options

TM goClassic provides access to a suite of curated ILP sub-funds, allowing you to build a diversified portfolio. While specific fund types aren't detailed, ILPs typically offer a range of equity, balanced, and fixed income funds to suit various risk profiles.

Investment Management

The funds are professionally managed, aiming to capture different market opportunities. TM goClassic allows you to invest in your preferred plan currency, providing additional flexibility in your investment strategy.

Fund Switching

TM goClassic offers free fund switches, allowing you to adjust your investment allocation to capitalize on market opportunities or change your risk profile as needed.

Performance Potential

While past performance doesn't guarantee future results, the product illustration shows a potential policy value of S$1,323,940 after 25 years, based on an 8% p.a. illustrated return rate and monthly premium of S$2,000.

Fees and Charges

Understanding the fees and charges associated with TM goClassic is essential for making an informed decision. These costs can impact your overall returns and the growth of your policy value. While specific details aren't provided in the given information, typical ILPs include the following types of fees:

Premium Allocation

A portion of your premium goes towards insurance coverage and administrative costs. The exact allocation rate isn't specified but is crucial for understanding how much of your premium is invested.

Policy Administration

There may be ongoing charges to cover the cost of administering your policy. These fees are typically deducted from your policy value on a regular basis.

Fund Management

A fund management charge of 1% p.a. is mentioned. This fee covers the cost of managing the underlying investments in your chosen funds.

Surrender Charges

Early termination of the policy may involve high costs. The surrender value, if any, may be zero or less than the total premiums paid, especially in the early years of the policy.

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Flexibility and Customization

TM goClassic stands out for its flexibility, allowing you to adapt your policy as your financial situation and goals change over time. This adaptability ensures that your insurance and investment strategy remains aligned with your evolving needs throughout different life stages. Here are some key features that provide flexibility and customization options:

Premium Top-ups

TM goClassic allows for ad-hoc premium top-ups, enabling you to invest additional funds when you have extra cash, such as bonuses or windfalls.

Partial Withdrawals

You can make partial withdrawals from your policy value to meet unexpected expenses or financial needs, providing liquidity when required.

Premium Holiday

While not explicitly mentioned, many ILPs offer a premium holiday feature. This would allow you to temporarily pause premium payments if needed, with the policy charges deducted from the existing policy value.

Adjustable Coverage

TM goClassic offers the flexibility to change your family cover, allowing you to add your spouse and children as Lives Assured, adapting the policy to your changing family situation.

Conclusion

TM goClassic offers a versatile solution for individuals seeking a balance between life insurance protection and investment opportunities. This product may be particularly suitable for:
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