TMasialife launched TM Legacy Plus. Higher coverage up to additional 80% more coverage
January 19th, 2010 by ALVIN SOONG
TM Legacy launched TM Legacy Plus on 15th Jan 2010.
Features of the plan includes:
- Whole Life Coverage (to age 99);
- Basic Plan covers Death, TPD and Terminal Illness; Dread Diseases can be included into the plan as a rider.
- Limited Premium period (5/10/15/20/25 years or up to age 55/60/65 years old)
- TM Asialife has Consistent Returns on Cash Value & has never Cut in Bonus Since Company Founded;
MINIMUM DEATH BENEFIT or MDB is applied to the basic Sum Assured. If a claim is made prior to age 65 of the insured, TM Asia Life will pay the HIGHER of the MDB or basic Sum Assured plus any bonuses in one lump sum.
This refers to the Dread Disease Accelerator Rider (or Critical Illness rider).
(This does not apply to claim on Angioplasty or Other Invasive Treatment for Coronary Artery, where only 10% of the rider sum assured is paid subject to a maximum of $25,000. The remainder of rider sum assured will still factor in the MDB multiplier).
The extra coverage can be given up to maxiumum of 250% depending on age. Based on the calculation below, (entry age before next birthday, MDB factor) will show how many times coverage can be given per basic sum assured,
Entry Age NB MDB Factor
1-24, 2.50
25-29 2.0
30-34 1.8
35-39 1.65
40-44 1.50
45-49 1.40
50 1.25
TM asialife’s new TM Legacy Plus could prove to be a competitive new high insurance cover at lower cost than its predecessor (TM Legacy) and even compared to most of the existing insurance plans in the market
