This solution is also extended to married couples through a joint life option, providing the couple with a retirement income stream for the entire lifetime of the last surviving spouse, thereby giving them the financial security that both deserve.
- Simplified underwriting process
- Limited premium payment whole life plan
- Guaranteed annual retirement income of 5% of sum assured from the age of as early as 60
- 5, 10, 15, 20 or 25 year payment terms
Source: Tokio Marine
"Author comment: With this product TM is tip toeing into the whole life annuity market. It is quite an interesting product, although its based on a whole life plan rather than a pure savings plan. That would mean that a client is paying for a death cover and the accumulation is tied to the performance of the company's participating fund. This is a safer alternative but could mean that the money for retirement accumulates at a slower rate.
For the company and your agent, this would typically be a more profitable product. It is best to go in with your eyes open and consider whether buying a pure annuity together with a term plan is a better alternative."
