TM Nest Egg (II) (FlexiSaver): Your Path to Financial Security and Dream Fulfillment
Have you ever dreamed of having a steady stream of income to support your lifestyle, fund your child's education, or kickstart your business venture? If so, you're not alone. Many Singaporeans are looking for ways to secure their financial future while working towards their life goals. That's where TM Nest Egg (II) (FlexiSaver) comes in - a unique savings plan designed to help you reach your dreams with a sound action plan.
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What is TM Nest Egg (II) (FlexiSaver)?
TM Nest Egg (II) (FlexiSaver) is a limited pay, participating endowment plan offered by Tokio Marine Life Insurance Singapore Ltd. It's designed to provide you with a steady stream of monthly cashflow during a payout period that you choose. This means you don't have to wait until the end of the policy term to access your money - you can start receiving payouts as soon as your premium payments are complete.
Key Features That Make TM Nest Egg (II) (FlexiSaver) Stand Out
Flexibility
You have the power to design your savings plan to suit your specific needs. You decide:br>- The amount of guaranteed cash payout you want to receivebr>- How long you want to pay your premiums (5, 10, or 15 years)br>- When you want to start receiving your monthly payouts after premium payments stop (0 to 15 years)br>- How long you want to receive your payouts (10, 15, or 20 years)
Liquidity
Enjoy regular rewards from your savings with a monthly cash benefit. This benefit consists of:br>- A guaranteed cash payoutbr>- A non-guaranteed dividendbr>If you don't need the cash immediately, you have the option to reinvest it with Tokio Marine for potentially higher returns.
Capital Preservation
100% of your annual premiums paid is guaranteed upon the start of your monthly cash benefit.
Guaranteed Acceptance
Enjoy an easy application process with no medical examination required .
Coverage
Receive protection against death and terminal illness even as you save.
Why compare TM Nest Egg (II) (FlexiSaver) with other Endowment options through Whatins?
Traditional Approach
- Only see one company's projected returns
- May push higher projections without context
- Limited comparison of guaranteed amounts
Whatins Advantage
- Compare guaranteed returns across insurers
- See how different companies project returns
- Get multiple views on bonus rate histories
- Understand different payout structures
How Does TM Nest Egg (II) (FlexiSaver) Work?
Let's look at two real-life scenarios to understand how this plan can help you achieve your goals:
Scenario 1: Boosting Additional Income
Meet Kevin, a 50-year-old non-smoking male looking to plan for additional income.
Kevin's Plan: br>- Guaranteed Monthly Cash Payout: S$500br>- Premium Payment Term: 10 yearsbr>- Accumulation Period: 0 years (payouts start immediately after premium payments end)br>- Payout Period: 20 years
Kevin pays an annual premium of S$9,910 for 10 years, totaling S$99,100.
What Kevin Receives: br>- Guaranteed monthly payout: S$500br>- Non-guaranteed monthly dividend: S$202 (at 4.25% illustrated investment rate)br>- Total monthly cash benefit: S$702
By the end of the policy term, Kevin will have received:br>- Total guaranteed cash payout: S$120,000br>- Total non-guaranteed monthly dividend: S$48,480br>- Total payout: S$168,480
This represents a total yield of 3.59% p.a.
Scenario 2: Fulfilling Entrepreneurial Dreams
Meet Jade, a 30-year-old non-smoking female saving for business funds.
Jade's Plan: br>- Guaranteed Monthly Cash Payout: S$1,000br>- Premium Payment Term: 10 yearsbr>- Accumulation Period: 5 yearsbr>- Payout Period: 10 years
Jade pays an annual premium of S$11,640 for 10 years, totaling S$116,400.
What Jade Receives: br>- Guaranteed monthly payout: S$1,000br>- Non-guaranteed monthly dividend: S$574 (at 4.25% illustrated investment rate)br>- Total monthly cash benefit: S$1,574
By the end of the policy term, Jade will have received:br>- Total guaranteed cash payout: S$120,000br>- Total non-guaranteed monthly dividend: S$68,880br>- Total payout: S$188,880
This represents a total yield of 3.18% p.a.
Additional Benefits and Considerations
Optional Riders
Enhance your protection with premium waiver riders. These ensure your future premiums are waived in case of covered incidents, such as critical illness diagnosis.
Reinvestment Option
If you don't need your monthly cash benefit immediately, you can choose to reinvest it with Tokio Marine. The current non-guaranteed interest rate for reinvestment is 3.25% p.a. (when the illustrated investment rate of return is 4.25% p.a.)
Policy Term
The total policy term is the sum of your premium payment term, accumulation period, and payout period, subject to a maximum of 30 years.
Non-Guaranteed Benefits
Remember that dividends are not guaranteed and may vary based on the future performance of the Participating Fund.
Pros and Cons of TM Nest Egg (II) (FlexiSaver)
Pros
Flexible plan customization to suit your needs
Guaranteed acceptance without medical examination
Regular monthly cash benefits
Option to reinvest cash benefits for potentially higher returns
Coverage against death and terminal illness
Cons
Non-guaranteed dividends may fluctuate
Early termination may result in high costs and low surrender value
Maximum policy term of 30 years may not suit very long-term goals
Frequently Asked Questions
Can I change my plan after purchase?
It's best to check with Tokio Marine about options for adjusting your plan after purchase.
What happens if I can't continue paying premiums?
The policy may lapse if premiums are not paid. It's crucial to ensure you can commit to the full premium term.
Are the returns guaranteed?
The plan includes both guaranteed and non-guaranteed components. The non-guaranteed dividends may vary based on fund performance.
Can I take a loan against this policy?
Check with Tokio Marine about policy loan options and terms.
How does this differ from a regular savings account?
This plan offers potential for higher returns, insurance coverage, and structured payouts, but with less liquidity than a savings account.
Conclusion
TM Nest Egg (II) (FlexiSaver) offers a flexible way to save for your future goals while providing some insurance protection. Its customizable nature allows you to tailor the plan to your specific needs, whether you're saving for retirement income, a child's education, or a business venture.
However, as with any financial product, it's important to carefully consider your personal circumstances, financial goals, and risk tolerance before making a decision. While the plan offers attractive features like guaranteed acceptance and regular cash benefits, remember that some components are non-guaranteed and depend on fund performance.
Ready to take the next step in securing your financial future? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on savings and endowment plans. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.
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- 👉 TM Nest Egg (II) (FlexiSaver): Your Path to Financial Security and Dream Fulfillment
- 👉 What is TM Nest Egg (II) (FlexiSaver)?
- 👉 Key Features That Make TM Nest Egg (II) (FlexiSaver) Stand Out
- 👉 How Does TM Nest Egg (II) (FlexiSaver) Work?
- 👉 Scenario 1: Boosting Additional Income
- 👉 Scenario 2: Fulfilling Entrepreneurial Dreams
- 👉 Additional Benefits and Considerations
- 👉 Pros and Cons of TM Nest Egg (II) (FlexiSaver)
- 👉 Frequently Asked Questions
- 👉 Conclusion
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