Aviva MyRetirement is a life insurance endowment plan that aims to provide a platform for accumulating retirement savings and providing retirement income solutions. Key highlights of Aviva MyRetirement Monthly Guaranteed Retirement Income for 10 years starts just one month after the chosen Retirement Age. Capital guaranteed - get all premiums back to support retirement. Guaranteed returns … [Read more...]
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AXA Life’s Mum’s Advantage (MumCare & INSPIRE Flexi2 / MaxSaver policy)
AXA Life launched the Mum's Advantage. Mum's Advantage consists of two products namely: MumCare and A regular premium policy, the INSPIRE Flexi2 MumCare provides coverage on 5 main benefits Death Benefit for mother Hospital Care Benefit for mother Pregnancy Complications Congenital Illnesses Hospital Care Benefit for child Mum's Advantage allows the mother to transfer the … [Read more...]
Is the PRUlink protection plus account a good or bad product?
Question: “Hi Wilfred, due to family history, I am looking for a life insurance which will cover me for entire life upon major illnesses like cancer. My financial adviser recommends the Prudential PRUlink protection plus account. I read in the forum that the charges of an investment linked policies increases with age and will lapse when I am unable to pay the high charges. My adviser told me that … [Read more...]
Launch of Aviva MyCare Plus
Aviva launch the Aviva MyCare Plus today giving consumer a choice of able to claim based on 2 out of 6 Activities of Daily Living. Its previous product Aviva MyCare, which is still available, pays out based on 3 out 6 Activities of Daily Living. Aviva MyCare and MyCare Plus are ElderShield Supplement Schemes that expand the coverage of the basic ElderShield plan with additional coverage and … [Read more...]
HSBC Insurance Jade Global Select Universal Life
I was asked by a client to analyse this product together with the accompanying premium financing. This is my analysis. This product is a USD denominated Universal life. Upon single premium of USD187,158, the sum assured is USD1,500,000. The policy has some cash value based on a minimum crediting rate of 3%. The product is often marketed together with premium financing in which the bank finances … [Read more...]
The NTUC Income Vivolife
Today I decided to do some calculation on NTUC Income Vivolife. Why? Because I’ve been hearing that the NTUC Income Vivolife is a very lousy whole life that gives poor value for money. But Vivolife is a whole life policy that is never meant for savings and yet people continue to calculate its yield like as if it is a saving plan. Anyway, I decided to calculate the yield if it is treated like a … [Read more...]
Launch of TM Legacy Plus (LP)
TM Asia Life launches TM Legacy Plus. The TM Legacy Plus will be available from 15 January 2010 onward. This is a participating limited premium whole life insurance covering death, total and permanent disability and terminal illness. Dreaded disease / critical illness rider can be attached to the base plan. The plan comes with a Minimum Death Benefit feature in which the life assured enjoy a … [Read more...]
AIA Platinum Legacy and Platinum Legacy Preserver (Universal Life Insurance)
The AIA Platinum Legacy and AIA Platinum Legacy Preserver are whole life non-participating plans denominated in US dollars. Underwritten by AIA with a minimum sum assured of US$500,000. The following are the plan details and my comments: These two plans are what we called Universal Life Insurance. Features are: 1. Whole life insurance; 2. Strictly covers death only. No TPD, TI or CI … [Read more...]
Launch of AIA Complete Critical Cover
AIA launches the AIA Complete Critical Cover. The AIA Complete Critical Cover is a stand-alone term policy (non-participating) with coverage denominated I S$ and US$. It is guaranteed renewable and selected riders can be attached. Premium rates are level but not-guaranteed. The plan may be suited for individuals looking for early critical illness protection, major critical illness protection and … [Read more...]
Zurich Vista ‘Bonus Units’ is a gimmick
Zurich Vista provides a whopping additional 62.5% bonus units during the first 18 months for premium SGD 3,200 per month. These additional units are often the selling points used. But I will show you that the Zurich Vista's bonus units is merely a marketing gimmick. To analyze Zurich Vista, I used the following parameters: Premium = 3200 monthly ROI = 9% per annum or 9%/12 monthly Expense … [Read more...]
