Last Updated on by Tree of Wealth
When it comes to Whole Life insurances, Tokio Marine’s Legacy LifeFlex has benefits that are both competitive as well as supplementary benefits that help enhances your coverage. It covers for death, total permanent disability, terminal illnesses as well as critical illness from early to advance stage. It is a pretty standard whole life plan, with some kids’ benefits as well as retirement income conversion option.
Tokio Marine Legacy LifeFlex Features and Benefits at a Glance
Flexible Premium Terms
Choice of 10, 15, 20 or 25 years. Although there is a limitation that for 10 year premium term, the minimum entry age is 40 years old.
Premiums are Leveled & Guaranteed
The premiums for TM Legacy LifeFlex and Critical Illness (CI) Cover are guaranteed. TM assures that during your premium term, there will be no spike of premiums for coverage (Early CI not included though).
Critical Illness (CI) cover
Sum assured for CI Cover rider can be multiplied up to 10 times, covering against 36 CIs. And they are guaranteed.
Multiplier Goes Up T0 10 Times!
If you would like to have the most multiplied amount before the age of 70, then TM’s multiplier probably will entice you, as they have the highest multiplier coverage of 10 times the basic sum assured in the market.
Tokio Marine Legacy LifeFlex Flexes Retirement Income Option
As with most whole life insurances, TM’s Legacy LifeFlex’s legacy comes in the form of paying out income to you for life upon retirement age, at 65 years old. It comprises of the non-guaranteed bonuses garnered throughout the plan’s life. Considering Tokio Marine has never cut bonus before, this is something one may consider.
- Protection of 117 Medical Conditions as well as procedures
- Across Early to Intermediate to Advance stage of Critical Illness.
- Early Stage per payout claim limit is at $200, 000. One of the lowest in the market as most insurers are limiting at $250, 000 or even $350, 000.
Other benefits include Special Conditions and Juvenile Benfits
- Diabetic Complications
- Severe Rheumatoid Arthritis
- Dengue Haemorrhagic Fever
- Breast Reconstructive Surgery following a Mastectomy
- Crohn’s Disease
- Ulcerative Colitis
- Wilson’s Disease
- Insulin Dependent Diabetes Mellitus
- Kawasaki Disease
- Osteogenesis Imperfecta
- Severe Haemophilia
- Rheumatic Fever with Valvular Impairment
- Severe Juvenile Rheumatoid Arthritis
- Type I Juvenile Spinal Amyotrophy
- Glomerulonephritis with Nephrotic Syndrome
Additional Riders to Enhance Your Coverage
Waiver of Premium Rider, (Enhanced) Payer Benefit Rider & (Enhanced) Spouse Rider
Waive off future premiums when Death, Total and Permanent Disability and/or upon diagnosis Critical Illnesses (Major Stage)
KidAssure GIO Rider
KidAssure GIO Rider to cover for death, hospitalization and juvenile/child-related illnesses. Additionally, 80% of your premiums paid will be refunded back to you at child’s age 19 upon the rider’s maturity.
How Tokio Marine’s Whole Life Plan Legacy LifeFlex Works
What We Like About The Plan
- High multiplier
- Insurer has not cut bonus
- High coverage before age 70 but lower and affordable premiums
- Good income replacement tool for Early CI for fresh grads and young parents with the high multiplier coverage feature
- CI coverage is for life
- Premiums are limited to a few years and coverage is for life
What We Don’t Like About The Plan
- Low Early Stage CI claim limit at $200,000
- Premiums are not competitive when compared to other insurers as a whole (multipliers, cash value inclusive)
- Limitation for 10 year premium term – the minimum entry age is 40 years old.
It would however be less suitable if:
- You are looking for a plan that provides immediate cash value
- You are looking for a high retirement endowment tool
- You want high cash flexibility access to your cash value
Tokio Marine Legacy LifeFlex Conclusion
As with all whole life insurance plans, the suitability of this plan for you will largely depend on your needs and expectations. There are many whole life insurance plans in the market with many strong Insurers. Which one suits you the most?
To find the most suitable coverage, simply fill in the form below and our friendly licensed FA advisor will get in touch with you. Based on your needs, a custom made solution will be adjusted only addressing your concerns.
No obligations, no hidden fees. All advice are of no charges.