Tokio Marine Life Insurance Singapore launches protection-focused plans

TM Protect PA and TM Legacy LifeFlex created for customers to enjoy protection at various life stages

The TM Protect Personal Accident (PA) plan provides customers with financial assistance for expenses incurred due to accidents. The plan provides the flexibility to customise based on needs. Situations covered include dengue fever and food poisoning, as well as everyday accidents. Its round-the-clock global coverage also ensures coverage against accidents during travel holidays overseas.

Some highlights based on a select plan:

• Basic benefits include Accidental Death Benefit, Accidental Dismemberment & Burns Benefit, Medical Reimbursement Benefit, and Double Indemnity Benefit, and Accidental Weekly Income Benefit
• Medical reimbursement of up to S$10,000 on hospital bills
• Weekly income of up to $350 for a recovery period of up to 52 weeks, allowing sufficient time to focus on recovery
• Out-Patient Treatment claims possible for a variety of treatments, including Traditional Chinese Medicine (TCM) and Chiropractic Treatment
• Round-the-clock global coverage to cover travel holidays, including double payout of the sum assured for accidents while traveling in a private car or public transport
• Option of yearly renewal up to age 75; however renewal is not guaranteed

The TM Legacy LifeFlex plan is the only whole-life-plan in Singapore that transitions from providing high coverage during working years (prior to age 65), to providing a stream of lifetime income in the form of annual dividends for retirement planning purposes.

Some highlights of the plan:

• Flexibility to boost coverage based on needs
• Protection coverage of up to 10x
• Income for life, starting from age 65
• Guaranteed premiums for Critical Illness (CI) cover
• EarlyCare coverage of 104 medical conditions/procedures

The optional EarlyCare rider provides customers with coverage for the different stages of critical illnesses, including a lump sum payout upon diagnosis as well as an additional waiver of all future premiums, while remaining covered under the TM Legacy LifeFlex plan.

According to Tokio Marine, the EarlyCare rider will cover early-stage critical illnesses, including major cancers, heart attacks, coronary artery by-pass surgery, stroke, and kidney failure. With this plan and rider, customers can take time off to focus on recuperating, as the lump sum payout upon diagnosis can be used to settle medical expenses, and the balance put to recuperation due to treatments.

Additionally, multiple insurance claims can be made for different medical conditions, or for the same condition that has progressed to a more severe stage.

Details of the plans can be found at the Tokio Marine Life Insurance Singapore website.

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