Tokio Marine #goAssure stands out for me against other investment linked plans in the market, is its flexibility to choose and adjust your protection age, from age 65 to 99, to suit your needs. Sure, it is a regular premium, investment-linked plan that offers both protection coverage against Death, Terminal Illness, Total and Permanent Disability, or Critical Illness with flexible protection age and potential long-term investment returns. Tokio Marine has to differentiate itself from the pack somehow.
Seen in other whole life policies, the feature option to increase your coverage upon life milestones such as graduation, marriage, purchase of a property or birth of a child, is there. Subject to terms and conditions of course. As with many other ILPs in the market, there are bonuses (ie loyalty bonus), but here we got a Wellness Bonus too, a reward for zero claims made.
Some things to note. This review 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.
Tokio Marine #goAssure 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.