Last Updated on by Tree of Wealth
TM Protect Cancer Overview
Cancer continues to be one of the main ‘killers’ in Singapore. Having a proper and comprehensive financial planning not only can safeguard yourself in these situations, but also to look out for the dependants around you as well.
There are quite a few of the Cancer-only plans in Singapore, and one of it is Tokio Marine.
Tokio Marine’s plan is called TM Protect Cancer. It is a non-participating Cancer-only plan that protect against the events of early and advanced stage cancer.
Let’s look at the benefits.
Features At a Glance for TM Protect Cancer
Early Stage Cancer Benefit
In the event of early stage Cancer diagnosis, 50% of the sum assured will be paid out. The flexible part of this benefit is that the plan does not end once the payout happens. The sum assured will be reduced by the amount paid, and the protection continues. Subsequent premiums paid after this will be adjusted as well.
Advanced Stage Cancer Benefit
In the event of Advanced stage Cancer diagnosis, 100% of the sum assured will be paid out. This plan will end once the full sum assured amount has been paid out.
Death Benefit
In the event of death, a fixed sum of $5,000 will be paid out and the plan will end as well.
Guaranteed Renewal
This plan offers guaranteed renewability. The coverage will continue, despite any future changes to the policyholder’s health condition.
Simplified Application
The application for this plan only requires you to answer 7 simple questions.
Annual Premium Rate
The premiums for this plan varies from several factors such as age, gender and smoking status. The below annual premium rate table allows you to have an understanding on the premiums per $1000 sum assured.
|
Age Next Birthday |
Male Non-Smoker | Male Smoker | Female Non-Smoker | Female Smoker |
|
30 – 34 |
1.56 | 2.13 | 2.58 | 3.9 |
|
35 – 39 |
1.92 | 2.85 | 3.59 |
5.9 |
| 40 – 44 | 2.63 | 4.24 | 5.15 |
9.02 |
| 45 – 49 | 3.70 | 6.39 | 6.85 |
12.46 |
| 50 – 54 | 5.99 | 10.86 | 8.16 |
15.16 |
|
55 – 58 |
8.94 | 16.52 | 9.38 | 17.64 |
| 59 – 61 | 11.94 | 22.31 | 10.00 |
18.93 |
| 62 – 64 | 16.12 | 30.37 | 11.11 |
21.14 |
|
65 – 67 |
21.85 | 41.50 | 12.77 | 24.50 |
|
68 – 70 |
27.62 | 52.75 | 14.52 |
28.02 |
|
71 – 73 |
34.18 | 65.74 | 16.65 | 32.29 |
| 74 – 76 |
40.98 |
78.75 |
19.83 | 37.89 |
| 77 – 79 | 47.82 | 87.11 | 23.33 |
42.07 |
| 80 – 82 | 53.35 | 91.02 | 27.02 |
45.75 |
| 83 – 85 | 54.41 | 91.02 | 27.60 |
45.75 |
Source: Tokio Marine
For example:
30 year old male, non-smoker, is looking to get coverage of $100,000 sum assured :
$100,000 / $1000 = 100
100 x 1.56 (according to the premium rate table) = $156
(premium to be paid for the $100,000 sum assured)
TM Protect Cancer Suitable if You:
- Prefer comprehensive cancer coverage
- Prefer the flexibility of being able to keep the coverage even after early stage cancer diagnosed and paid out
- Prefers simple and easy application
It would however be less suitable if you would like:
- Prefers a comprehensive Critical Illness coverage
- Prefers higher pay out on Death
- Prefers to have a disability coverage
Conclusion for TM Protect Cancer
There are many plans in the market that is catered to different needs and concerns. With the help of our partners of licensed financial planners, we can draft you a proposal based on your given information.
If you do not have a protection policy yet, or if you are unsure of what you should/should not have, this is a great time to check out the different insurance providers and see what they are offering.Get in contact with us right now to have a quick assessment.
Drop us an inquiry below and our friendly professional licensed FA advisor will be getting in touch with you shortly!
