Whole Life

China Taiping i-Secure Legacy (II): Comprehensive Whole Life Protection for You and Your Loved Ones

In today's uncertain world, securing your family's financial future is more important than ever. Did you know that the average Singaporean faces a critical illness protection gap of S$256,000 ? Or that the treatment cost for common major illnesses like cancer can range from S$100,000 to S$200,000 ? These statistics highlight the importance of comprehensive life and critical illness coverage. If you're looking for a versatile whole life plan that offers high coverage and the flexibility to enhance your protection, China Taiping's i-Secure Legacy (II) might be the solution you've been searching for.

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What is i-Secure Legacy (II)?

i-Secure Legacy (II) is a whole life insurance plan designed to provide comprehensive coverage against Death, Terminal Illness (TI), and Total and Permanent Disability (TPD) . What sets it apart is its ability to offer immediate high coverage of up to 5 times your basic sum assured , coupled with the accumulation of cash values and bonuses throughout the policy term. This unique combination ensures that you have substantial protection when you need it most, while also building a financial legacy for your loved ones.

Key Features That Make i-Secure Legacy (II) Stand Out

High Coverage Multiplier

Choose a Guaranteed Benefit (GB) of 2, 3, 4, or 5 times your basic sum assured. This high coverage lasts until age 76 or 86, depending on your choice. After that, the GB decreases gradually, ensuring lifelong protection.

Flexible Premium Payment Terms

Select from 5, 10, 15, 20, or 25 years of premium payments. This flexibility allows you to align the plan with your financial planning.

Customizable with Optional Riders

Enhance your protection with critical illness and premium waiver riders. Tailor your coverage to meet your specific needs and concerns.

Whole Life Coverage

Protection that lasts your entire lifetime, providing peace of mind for you and your family.

Why compare China Taiping i-Secure Legacy (II) with other Whole Life options through Whatins?

Traditional Approach

  • Limited comparison of growth projections
  • Single company's whole life performance history
  • May oversimplify cash value benefits

Whatins Advantage

  • Compare whole life cash value projections across insurers
  • See different whole life dividend histories
  • Understand various whole life premium payment options
  • Compare guaranteed vs non-guaranteed values

In summary: If you want more control and multiple suggestions, then Whatins is the way to go.

What Does i-Secure Legacy (II) Cover?

Death Benefit

You'll receive the higher of: a) Basic Sum Assured + Guaranteed Benefit, or b) Basic Sum Assured + Non-guaranteed Bonuses

Terminal Illness (TI) and Total and Permanent Disability (TPD) Coverage

Full protection against these unfortunate events

Cash Value Accumulation

Your policy builds cash value over time, which you can access if needed

Optional Riders for Comprehensive Protection

Whole Life Critical Illness Riders

AdvancedCare Rider: Covers 55 critical illnesses. Pays a lump sum upon diagnosis of conditions like major cancers, stroke, heart attack, etc. br>b>EarlyCare Rider: Covers critical illnesses at Early, Intermediate, and Advanced Stages. Includes 42 Early Stage, 40 Intermediate Stage, and 55 Advanced Stage conditions. Additional coverage for 12 Juvenile Conditions and 12 Special Conditions.

Premium Waiver Riders

Waives future premiums if the payer or payer's spouse suffers from Death, TI, TPD, or critical illness. Ensures the policy continues even if the worst happens to the premium payer.

How Much Coverage Can You Get?

The coverage amount depends on the Guaranteed Benefit (GB) factor you choose: 2x, 3x, 4x, or 5x your Basic Sum Assured . For example, if your Basic Sum Assured is S$100,000 and you choose a 5x GB factor, your coverage could be as high as S$500,000.

Real-Life Scenarios

Protecting Your Child's Future

Kenny, aged 35, takes out an i-Secure Legacy (II) policy for his 1-year-old son, Ivan, with a Basic Sum Assured of S$50,000 and a 5x Guaranteed Benefit. With added riders, the policy could provide a total payout of S$270,000 over various scenarios, including juvenile conditions and early-stage Alzheimer's Disease.

Protecting Against Critical Illness

Lina, aged 35, takes out an i-Secure Legacy (II) policy with a Basic Sum Assured of S$100,000 and a 5x Guaranteed Benefit. With the EarlyCare Rider, the policy could provide a total payout of S$620,000 over various scenarios, including breast cancer diagnosis and treatment.

How Much Does It Cost?

The premium for i-Secure Legacy (II) depends on several factors including your age, the Basic Sum Assured, the Guaranteed Benefit factor, the premium payment term, and any optional riders. To get an accurate quote, it's best to speak with a China Taiping financial adviser who can tailor a plan to your specific needs and budget.

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Pros and Cons

Pros

  • High immediate coverage (up to 5x Basic Sum Assured)

  • Flexible premium payment terms

  • Whole life protection

  • Option to add comprehensive critical illness coverage

  • Accumulates cash value over time

Cons

  • Premiums may be higher than term insurance

  • Critical illness coverage is optional and comes at an additional cost

  • The Guaranteed Benefit decreases after age 76 or 86

Frequently Asked Questions

Can I surrender the policy early if I need the cash?

Yes, but early termination usually involves high costs, and the surrender value may be less than the total premiums paid.

Is there a maximum age for entry?

The maximum entry age depends on the premium payment term you choose. Check with a China Taiping adviser for specific details.

Are the bonuses guaranteed?

No, the bonuses are non-guaranteed and depend on the performance of China Taiping's participating fund.

Can I change my coverage amount later?

It's best to check with China Taiping about options for increasing or decreasing your coverage after purchase.

What's not covered by this plan?

Like most insurance policies, there are exclusions. For example, suicide within the first year of the policy is typically not covered.

Conclusion

China Taiping's i-Secure Legacy (II) offers a comprehensive whole life insurance solution with the unique feature of high immediate coverage . Its flexibility in premium payment terms and the option to add critical illness protection make it a versatile choice for those looking to secure their family's financial future. However, as with any insurance decision, it's crucial to carefully consider your personal needs, financial situation, and long-term goals before making a choice.

Remember, the best insurance plan is one that provides the right balance of protection and affordability for your specific circumstances. If you're considering i-Secure Legacy (II) or any other whole life plan, it's always recommended to consult with a financial adviser who can provide personalized recommendations based on your unique situation.

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