Last Updated on June 13, 2023 by Tree of Wealth

Note: The Tokio Marine plans have been withdrawn

For some, Tokio Marine is a strong insurer, due to the fact that it has not cut bonus since existing in Singapore. And it is the ONLY insurer in Singapore to never do that. Quite impressive actually.

So when it comes to retirement, Tokio Marine separates into a few plans to suit specific needs.

edit: Tokio Marine has since cut bonus for the year ending 2019.

Tokio Marine Retirement Plans At a Glance:

TM Retirement GIO Plus – Pay only for 5 years, Receive Pay-out for Life on the 5^th year. Guaranteed Pay-out amount is 2.20% of sum assured along with non-guaranteed annual bonus.

TM Retirement GIO – Pay only for 5, 10 or 15 years, Receive Pay-out at age 55, 60 or 65. Guaranteed Pay-out amount is 2% of sum assured along with non-guaranteed annual bonus.

TM Retirement GIO Secure – Only 2 premium terms: 5 or 10 years. Only 4 retirement payout age of 50, 55, 60 or 65 years old. And only 2 retirement payout period of 10 or 20 years. Lump-sum upon maturity.

TM Retirement PayCheckLife – Yearly bonus up to 12 times (non-guaranteed) of guaranteed monthly pay-out. Premium term of 5,10 or 15 years. Retirement age of 55, 60 and 65 years old.

Let’s have a closer look at the 4 Retirement offerings by Tokio Marine below.

 

1.   TM Retirement GIO Plus

Product Fetures

• Only has 5-year premium term
• Thereafter receive Pay-out for Life on the 5^th policy year
• Death and Terminal Illness coverage
• No medical underwriting, Guaranteed Acceptance plan regardless of your health status

TM Retirement GIO Plus is suitable for

• Guaranteed monthly Pay-out amount is 2.20% of sum assured along with non-guaranteed annual bonus.
• Total premiums (monthly to be annualized) is guaranteed starting from the 5^th year.
• Early pay-out period starts only 5 years into the plan.

TM Retirement GIO Plus is not suitable if you are looking for:

• Coverage for high death benefit
• No single premium option
• No lump sum amount upon retirement age

 

2. TM Retirement GIO

Product Features

• Premium term of 5, 10 or 15 years
• Retirement Pay-out age of age 55, 60 or 65
• Death and Terminal Illness coverage
• No medical underwriting, Guaranteed Acceptance plan regardless of your health status

The Single Premium/ SRS version of this plan has been withdrawn in 2020.

TM Retirement GIO is suitable for

• Guaranteed Pay-out amount is 2% of sum assured along with non-guaranteed annual bonus. Non- guaranteed Pay-out amount is 3.8% of sum assured along with non-guaranteed annual bonus.
• Capital guaranteed for surrender value at retirement pay-out age.
• Receive pay-outs for life.

TM Retirement GIO is not suitable if you are looking for:

• Coverage for high death benefit
• Coverage for TPD (Total Permanent Disability)
• No single premium option
• No lump sum amount upon retirement age

Supplementary Benefits available to further customize your retirement:

• (Enhanced) Payer Benefit Rider to waive off future premiums when Death, Total and Permanent Disability and/or upon diagnosis Critical Illnesses (Major Stage)
• Cancer Income Rider to provide annual additional pay-outs when advance stage cancer (Major Stage) occurs.
• Cancer Waiver Rider to waive off future premiums when advance stage cancer (Major Stage) occurs.
• 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.

3. TM Retirement Secure

Product Features

• Premium term of 5 or 10 years only.
• Earlier Retirement Pay-out age starting at 50, 55, 60 or 65 years old.
• Death and Terminal Illness coverage.
• Upon chosen retirement age, only two pay-out options of 10 or 20 years.
• No medical underwriting, Guaranteed Acceptance plan regardless of your health status.

TM Retirement Secure is suitable for:

• Flexibility option to choose from a range of premium terms and pay-out years.
• Shorter premium term.
• Receive a lump sum amount upon maturity (guaranteed & non-guaranteed bonuses).
• Providing stability receiving guaranteed and non-guaranteed pay-outs for 10 or 20 years.
• Choose to re-invest your pay-outs to grow by earning the interest.
• Capital guaranteed for surrender value at retirement pay-out age.

TM Retirement Secure is not suitable if you are looking for:

• Coverage for high death benefit
• Coverage for TPD (Total Permanent Disability)
• Investment
• Pay-outs for life

Supplementary Benefits Available To Further Enhance Your Retirement:

• Cancer Waiver Rider to waive off future premiums when advance stage cancer (Major Stage) occurs.
• (Enhanced) Payer Benefit Rider to waive off future premiums when Death, Total and Permanent Disability and/or upon diagnosis Critical Illnesses (Major Stage)
• Cancer Income Rider to provide annual additional pay-outs when advance stage cancer (Major Stage) occurs.
• 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.

 

4. What is TM Retirement PaycheckLife

Product Features

• A non-guaranteed annual bonus up to 12 times of the guaranteed monthly pay-out on every policy anniversary for life.
• Premium term of 5, 10 or 15 years only.
• Retirement Pay-out age starting at 55, 60 or 65 years old.
• Death coverage is applicable.
• Upon chosen retirement age, with guaranteed monthly pay-out options for life.
• No medical underwriting, Guaranteed Acceptance plan regardless of your health status.
• Choose to get this on Single Life or Joint Life Application.
• Capital guaranteed upon maturity

TM Retirement PaycheckLife is suitable for those who want:

• Higher yearly non-guaranteed bonus (up to 12 times of your guaranteed monthly pay-out)
  • Paid for life from selected retirement pay-out age
• Receive at least 100% of your total annual premiums in the form of:
  • A guaranteed surrender value
  • Guaranteed monthly pay-out upon reaching selected retirement pay-out age

• Lifetime income providing certainty during
• A yearly lump sum benefit
• A shorter premium commitment period
• A hassle-free application without medical underwriting
• A retirement income that lasts a lifetime for your spouse (joint life option).

TM Retirement PaycheckLife is not suitable if you are looking for:

• Coverage for high death benefit
• Coverage for TPD (Total Permanent Disability)
• Investment
• No single premium option
• No lump sum amount upon retirement age

Tokio Marine Retirement Plans Conclusion

Perhaps in an effort to suit specific needs, Tokio Marine’s Retirement suite of plans becomes too niched. Having separate plans like that instead make changes harder to adapt to.

Retirement is a long term planning that needs to be addressed when we are younger. However the problem is that by the time retirement is upon us, our needs may change.

Get in contact with us and let our professional advisors whom are comparing retirement plans day in and out advise you accordingly.

No obligations, no frills.