FWD Life Income Plus is a participating whole life plan without a doubt. But it has savings and annuity features that make it an excellent legacy planning product. Capital guaranteed after the limited premium payment tenure is fulfilled, is noteworthy as one begins collecting annuity payments till age 120. The use case is similar to that of Manulife IncomeGen II.

With a choice of single premium, 3, 5 or 10 years of premium payment terms, complete your premium commitments early and live life to the fullest.

With the secondary person insured option, you can appoint a loved one to continue the policy even when the active person insured passes on. You can also ensure that the next generation gets to enjoy the policy benefits, such as the Cash Benefit payouts, through the transfer of policy ownership and the change of person insured option.

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.

FWD Life Income Plus 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.

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