Protection
"From 1st July 2021, the range of projected investment returns that can be used to illustrate the benefits of buying participating life insurance policies will be adjusted downwards to better reflect what policy buyers may expect to receive going forward.
The Life Insurance Association (LIA) in a press release on Wednesday (June 2) said that the cap for the upper investment return scenario will be set at 4.25 per cent per annum, down from the current 4.75 per cent per annum.
The cap for the lower investment return scenario, meanwhile, must be at least 1.25 percentage points lower than the upper cap. This would mean the lower cap would be 3 per cent if 4.25 per cent per annum is used in the illustration."
Investment-Linked
BEST if you want invest your own way to outdo the projected returns from traditional policy
Coverage (can be Whole Life or Endowments)
With Death and Total Permanent Disability (TPD) Benefits
Non-Guaranteed Cash Value, depend on Sub-Fund Performance
Single / Regular Premium Available
Optional Riders Available
Returm : Sub-funds determine the Value of Policy
Endowment
BEST if you want for saving
Shorter coverage period than Whole Life (usually 10/20/30 years)
With Death and Total Permanent Disability (TPD) Benefits
Cash Value (Pay U a Lump Sum upon Death or Maturity)
Higer in Premium (vs Term)
Optional Riders Available
Single / Regular Premium Available
Return: Guaranteed and non-Guaranteed benefits
Projected Return : 3% - 4.25%
Term
BEST to get cover with limited budget
Coverage for a fixed number of years
With Death and Total Permanent Disability (TPD) Benefits
No Cash Value
Lower in Premium
Optional Riders Available
Whole Life
BEST if you want to be covered as long as you are alive
Lifelong Coverage
With Death and Total Permanent Disability (TPD) Benefits
Cash Value (Pay U a Lump Sum upon Death or Maturity)
Higer in Premium (vs Term)
Optional Riders Available
Single / Regular Premium Available
Return: Guaranteed and non-Guaranteed benefits
Projected Return : 3% - 4.25%
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