Have you ever dreamed of having a steady stream of income to support your lifestyle, fund your child's education, or kickstart your business venture? If so, you're not alone. Many Singaporeans are looking for ways to secure their financial future while working towards their life goals. That's where TM Nest Egg (II) (FlexiSaver) comes in - a unique savings plan designed to help you reach your dreams with a sound action plan.
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TM Nest Egg (II) (FlexiSaver) is a limited pay, participating endowment plan offered by Tokio Marine Life Insurance Singapore Ltd. It's designed to provide you with a steady stream of monthly cashflow during a payout period that you choose. This means you don't have to wait until the end of the policy term to access your money - you can start receiving payouts as soon as your premium payments are complete.
You have the power to design your savings plan to suit your specific needs. You decide:br>- The amount of guaranteed cash payout you want to receivebr>- How long you want to pay your premiums (5, 10, or 15 years)br>- When you want to start receiving your monthly payouts after premium payments stop (0 to 15 years)br>- How long you want to receive your payouts (10, 15, or 20 years)
Enjoy regular rewards from your savings with a monthly cash benefit. This benefit consists of:br>- A guaranteed cash payoutbr>- A non-guaranteed dividendbr>If you don't need the cash immediately, you have the option to reinvest it with Tokio Marine for potentially higher returns.
100% of your annual premiums paid is guaranteed upon the start of your monthly cash benefit.
Enjoy an easy application process with no medical examination required .
Receive protection against death and terminal illness even as you save.
Let's look at two real-life scenarios to understand how this plan can help you achieve your goals:
Meet Kevin, a 50-year-old non-smoking male looking to plan for additional income.
Kevin's Plan: br>- Guaranteed Monthly Cash Payout: S$500br>- Premium Payment Term: 10 yearsbr>- Accumulation Period: 0 years (payouts start immediately after premium payments end)br>- Payout Period: 20 years
Kevin pays an annual premium of S$9,910 for 10 years, totaling S$99,100.
What Kevin Receives: br>- Guaranteed monthly payout: S$500br>- Non-guaranteed monthly dividend: S$202 (at 4.25% illustrated investment rate)br>- Total monthly cash benefit: S$702
By the end of the policy term, Kevin will have received:br>- Total guaranteed cash payout: S$120,000br>- Total non-guaranteed monthly dividend: S$48,480br>- Total payout: S$168,480
This represents a total yield of 3.59% p.a.
Meet Jade, a 30-year-old non-smoking female saving for business funds.
Jade's Plan: br>- Guaranteed Monthly Cash Payout: S$1,000br>- Premium Payment Term: 10 yearsbr>- Accumulation Period: 5 yearsbr>- Payout Period: 10 years
Jade pays an annual premium of S$11,640 for 10 years, totaling S$116,400.
What Jade Receives: br>- Guaranteed monthly payout: S$1,000br>- Non-guaranteed monthly dividend: S$574 (at 4.25% illustrated investment rate)br>- Total monthly cash benefit: S$1,574
By the end of the policy term, Jade will have received:br>- Total guaranteed cash payout: S$120,000br>- Total non-guaranteed monthly dividend: S$68,880br>- Total payout: S$188,880
This represents a total yield of 3.18% p.a.
Enhance your protection with premium waiver riders. These ensure your future premiums are waived in case of covered incidents, such as critical illness diagnosis.
If you don't need your monthly cash benefit immediately, you can choose to reinvest it with Tokio Marine. The current non-guaranteed interest rate for reinvestment is 3.25% p.a. (when the illustrated investment rate of return is 4.25% p.a.)
The total policy term is the sum of your premium payment term, accumulation period, and payout period, subject to a maximum of 30 years.
Remember that dividends are not guaranteed and may vary based on the future performance of the Participating Fund.
Flexible plan customization to suit your needs
Guaranteed acceptance without medical examination
Regular monthly cash benefits
Option to reinvest cash benefits for potentially higher returns
Coverage against death and terminal illness
Non-guaranteed dividends may fluctuate
Early termination may result in high costs and low surrender value
Maximum policy term of 30 years may not suit very long-term goals
It's best to check with Tokio Marine about options for adjusting your plan after purchase.
The policy may lapse if premiums are not paid. It's crucial to ensure you can commit to the full premium term.
The plan includes both guaranteed and non-guaranteed components. The non-guaranteed dividends may vary based on fund performance.
Check with Tokio Marine about policy loan options and terms.
This plan offers potential for higher returns, insurance coverage, and structured payouts, but with less liquidity than a savings account.
TM Nest Egg (II) (FlexiSaver) offers a flexible way to save for your future goals while providing some insurance protection. Its customizable nature allows you to tailor the plan to your specific needs, whether you're saving for retirement income, a child's education, or a business venture.
However, as with any financial product, it's important to carefully consider your personal circumstances, financial goals, and risk tolerance before making a decision. While the plan offers attractive features like guaranteed acceptance and regular cash benefits, remember that some components are non-guaranteed and depend on fund performance.
Ready to take the next step in securing your financial future? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on savings and endowment plans. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best plan for your financial goals. Don't leave your future to chance – get the expert advice you deserve today.
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