Summary of TM Retirement Paycheck

Tokio Marine Life Insurance Singapore launched the TM Retirement Paycheck on 15 April 2014 (Tuesday).

TM Retirement Paycheck is a limited pay, guaranteed issuance endowment plan that provides a stream of Guaranteed Monthly Cash Benefits for 20 years starting from the selected Payout Age. In addition, a non-guaranteed Yearly Bonus will also be paid together with the first Guaranteed Monthly Cash Benefit at the beginning of each policy year. Each Yearly Bonus is up to 12 times the Guaranteed Monthly Cash Benefit. This plan aims to provide “Monthly Paychecks” and “Bonuses” even after one stops working, so that one can maintain their current standard of living even during retirement.

The plan also offers attractive returns of up to 4.6%¹ looking for a retirement plan that provides guaranteed monthly paychecks.

The key features of the plan are:

Yearly Bonus and Guaranteed Monthly Cash Benefits payable from the Payout Age for 20 years;
Guaranteed maturity benefit amount ranging from 12 to 108 times the Guaranteed Monthly Cash Benefit;
Guaranteed Issuance with no medical underwriting;
Capital Guaranteed²
Choice of premium payment terms: 5, 10 & 15 years; and
Choice of Payout Ages: 55, 60 & 65 next birthday.

Note that the TM Retirement Paycheck may not be suitable for certain individuals.

[1] Based on an individual age 40, premium term of 5 years, paid-out option and Payout Age at 65.

[2] Applicable to annual premium payment mode only.

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