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With China Taiping i-Secure Legacy (II), you can get whole life insurance that protects you from death, terminal illness, and total and permanent disability (TPD) while building cash values and bonuses over the course of the policy term. Additionally, it secures a high level of coverage that is up to five times your basic sum assured, giving you the maximum level of security when you need it.
Receive 2, 3, 4, or 5 times your base sum assured as a Guaranteed Benefit (GB) up until age 76 or 86. This coverage is high right now. After then, the GB will drop by 10% annually for the next five years and then stay at 50% until you reach age 80 or 90, depending on your choice.
Your premium commitment can be as short as 5 years or over 10, 15, 20 or 25 years. Your choice.
There are a range of critical illness and premium waiver riders that can be added to enhance your plan.
Some things to note. This post will get dated. And the product might not be available for new subscriptions at some point. Hopefully this serves as reference for future policyholders who have forgotten what they have taken up.
There can be shifts in planning narratives over time. For example, limited premium tenures gain popularity over the years because people are less confident of their future earning capacity or sustainability of income levels. Regular payout features gained popularity when more and more people are in tune with the FIRE (Financial independence retire early) movement. An extended period of low interest rates brought down insurance products’ returns yield for policy holders, but now in a rising interest rates environment, things are set to change.
China Taiping i-Secure Legacy (II) may or may not fit into your financial plans. Understand that there is no best plan for all time, but there is a method to objectively facilitate your decisions. Read more about it here.