New 10yrs payment Whole Life Living Insurance. VIVOLIFE!
January 20th, 2008 by ALVIN SOONG
Our old Limited Premium LIving Policy (20yrs payment and cover whole life- HIgher cash value) is ending this Jan 30th 2008.
1) Key features
* With-profits whole life plan that covers death, TPD and dread diseases.
* High on protection value, with full payent and limited payment premium terms (10, 15, 20, 25 yrs or up to age 64, 84)
* Available for all between age 0-64 last birthday (LB)
2) Death Benefit
* Sum assured and accumulated bonuses will be paid to the beneficiaries in one lump sum.
* Policy terminates thereafter.
3) Total and Permanent Disability (TPD)
* Upon diagnosis of TPD of the life assured before age 65, the full sum assured and accumulated bonuses will be paid to the policyholder in one lump sum, up to $1m per year.
* Maximum total TPD benefit payable on the same life is $2 million for vivolife policy.
4) Dread Diseases
* Covers 30 major diseases. Sum assured and accumulated bonuses will be paid to the policyholder in one lump sum upon diagnosis of a specified critical illness.
5) Minimum Protection Value
* If death, critical illness or TPD were to occur in the first 15 years of coverage, the benefit payable is the higher of
- the sum assured plus bonuses, or
- 125% of the original sum assured.
6) Accidental Death Benefit
* Accidental Death Benefit covers whole life.
* Total benefit payable will be 3x sum assured, plus bonus, and not accidental benefit + minimum protection value.
7) Unemployment waiver
* Waiting period of 6 months is applicable to manage anti-selection
* If policyholder is retrenched for a continuous period of 3 months, permiums on his policy will be waived up to a maximum of 6 months of premium.
* This wavier can only be exercised once.
8) Annuity Option
* Upon attaining age 60, the policyholder could use the cash value of policy to purchase an immediate annuity at prevailing rates.
* Conversion to annuity can be done in full or partially, from age 60 onwards. Sum assured will be adjusted accordingly.
* An extra 5% of the cash value will be given.
=> Life Time Coverage (from vivolife) & Life Time Income (from annuity)
9) Riders
* Can be added to this policy with the payment of additional premium.
10) Promo (17-1-2008 to 30-4-2008)
* Fairprice and CapitaMall shopping vouchers
* 3 tiers
- $100 vouchers min monthly premium of $250
- $250 vouchers min monthly premium of $400
- $400 vouchers min monthly premium of $500
* vivolife standalone or vivolife + revosave to qualify
For More Info, please contact me at 96667946
