Legacy Endowment plans provide flexible cash benefit withdrawals as well as Secondary Life Insured option – transferring the endowment policy to the next generation should the Primary Life Insured were to pass on.
Legacy Endowment plans allow you to continue growing of wealth to the next generation and provide a lifetime of flexible withdrawals to the cash value.
When you are looking for an endowment plan that has flexibility of cash withdrawal, pausing your premium payment while retaining the policy until the age of 120 years old as well as growing your wealth to the next generation.
Option of Single & Limited premium term for a lifetime of wealth compounding for legacy planning.
Allows you to pass on the plan to the next generation should death occurs, continuing the growth and compounding the cash value of the plan.
Flexible ability to withdraw partially/fully on the cash value with the compounding yield.
Traditionally, endowment plans pay out a lump sum upon maturity and this could take up to 5 to 25 years or more depending on the nature of the plan. However in the event of death during the premium saving term, the death payout will only be 5% of your total premiums paid at that point, you don’t actually earn the interest yield.
Also should you choose to pass it on to the next generation, there is no such option.
Legacy Endowment plans solve that by having the Secondary Life Insured Option where the plan can be continued by your appointed loved ones as the new Life Insured.
Endowment plans come in many forms from various insurers in the market. The historic returns, premium term and effective yield returns all play a part in growing your wealth.
Simply fill in the simple Whole Life Insurance Plans questions to find the coverage best suited to your needs. Our experienced licensed FA advisor will get in touch with you shortly upon your request.
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You should consider a savings plan if you want a safe instrument to grow your wealth and also to protect it from inflation’s corrosion. In a nutshell, a savings plan provides a lump sum payout at a stable rate of return and most insurers provide capital guaranteed at the end of the policy term.
Endowment plans are capital guaranteed upon death. They safeguard your premium and you will not lose out on the capital should death occurs. Insurers also typically generate returns of 3% to 5% annually by the maturity date.
Yes. Because Insurers primarily provides coverage elements, there are benefits like disability premium waiver and guaranteed additional payouts should disability occurs during premium or pay-out years. There are also 3rd party premiums waiver as well as cancer premium waiver benefits.
It ranges from Single Premium (1 time) to 5, 10, 15, 20 and 25 years. Certain Insurers allow you to pay up to age 99. This may make sense for people whom are advance in age. Mode of premiums are monthly, quarterly, half-annually and annually.
Read our review here on our in-depth comparison:
You will actually lose out on your capital put in and depending on when you actually do that, it will affect the amount. Essentially you will make more loss if you terminate early into the plan. Having any form of Insurance or Endowment is a commitment to protect yourself from inflation and rising costs.
The Cash Value of an endowment policy is a pool of money that grows within it. Insurers will allocate some of the premiums that you pay into their underlying investment which can be assets and/or funds portfolios. This is managed by a fund manager either by the insurer or appointed. Insurers also typically generate returns of 3% to 5% annually.
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