Are you looking to make your CPF savings work harder for you? Do you want an investment option that offers flexibility and potential growth without compromising on insurance coverage? If so, TM Wealth Enhancer might be the solution you've been searching for . Let's dive deep into this unique investment-linked plan and explore how it can help you achieve your financial goals.
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TM Wealth Enhancer is a single premium whole life, investment-linked plan (ILP) offered by Tokio Marine Life Insurance Singapore Ltd . It's designed to provide potential growth to your wealth while also offering insurance coverage. What sets it apart is its inclusion in the CPF Investment Scheme , allowing you to use your CPF funds to invest and potentially grow your retirement savings.
Use funds from your CPF Ordinary Account (CPFIS-OA) or Special Account (CPFIS-SA). Minimum single premium of S$20,000.
Every dollar of your premium goes towards purchasing units right from the start . No initial fees or charges eating into your investment.
No medical underwriting required. Easy to start investing without health checks.
Make ad-hoc or regular top-ups to capitalize on market opportunities. Switch between funds at no additional charge. Make withdrawals when needed.
Provides peace of mind with insurance coverage.
Choose from a range of funds to match your risk appetite and investment goals.
You start by investing a minimum of S$20,000 from either your CPFIS-OA or CPFIS-SA. This entire amount is used to purchase units in your chosen funds.
You can choose from a diverse range of funds offered by Tokio Marine. These range from high-risk, high-yield options to more conservative choices.
After your initial investment, you have the flexibility to make additional investments: - Ad-hoc top-ups: Minimum S$1,200br>- Regular top-ups:br> - Monthly/Quarterly: Minimum S$300br> - Semi-annually: Minimum S$600br> - Annually: Minimum S$1,200br>b>Note: The source of funds for top-ups must be the same as your initial investment (CPFIS-OA or CPFIS-SA).
You can switch between funds at any time at no additional charge, allowing you to adjust your investment strategy as market conditions change.
You have the flexibility to make withdrawals from your investment at any time, providing liquidity when you need it.
In the event of death, your beneficiaries will receive:br>- 105% of the value of single premium unitsbr>- 100% of the value of top-up premium units
Let's look at how TM Wealth Enhancer might work in practice:
Mr. Tan is 40 years old and looking for a lump-sum investment vehicle. He decides to purchase TM Wealth Enhancer, opting for a mix of bond and equity funds. To potentially grow his investments further, he arranges for regular annual top-ups to his plan.
For the next 23 years, Mr. Tan consistently makes these top-ups, allowing his investment to potentially grow over time. When he reaches 63, he starts making regular withdrawals from TM Wealth Enhancer to supplement his retirement income, which also includes CPF LIFE payouts, rental income, and savings.
This scenario illustrates how TM Wealth Enhancer can be used as part of a comprehensive retirement strategy, providing both potential growth during working years and a source of income in retirement.
TM Wealth Enhancer, being an ILP, offers several advantages:
While TM Wealth Enhancer offers many benefits, it's important to consider the following:
This plan might be suitable for you if:
No, you need to choose either CPFIS-OA or CPFIS-SA as the source of funds.
No, the source of funds for top-ups must always be the same as your initial investment.
No, fund switching is allowed at no additional charge.
You can make a full withdrawal, but be aware that this will terminate your policy.
Check with a Tokio Marine representative for any upper limits on investments.
TM Wealth Enhancer offers a unique opportunity to potentially grow your CPF savings through a flexible investment-linked plan. With its 100% premium allocation, diverse fund options, and built-in insurance coverage, it can be a valuable tool in your financial planning toolkit. However, like all investments, it comes with risks and requires careful consideration.
Remember, the best financial decision is an informed one . While TM Wealth Enhancer offers many attractive features, it's crucial to assess whether it aligns with your personal financial goals, risk tolerance, and overall financial strategy.
Ready to explore your investment options further? Don't rely on just one perspective. Get expert insights tailored to your unique financial situation. Sign up now to receive 5 expert opinions on investment-linked plans and CPF investments. These professionals will review your specific circumstances and provide personalized recommendations, helping you make the most informed decision possible.
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