Parents always worry about their children, especially in situations they can’t control. What fear has plagued you the most as a parent, and has anything helped you overcome it?
My biggest fear is not being able to protect Edison when he’s in danger, not being able to take care of him when he’s sick, and not being able to prepare him adequately for his future (especially when I’m no longer around in this world).
Since I became a parent, I realised that I’m no longer only responsible for myself, but there is someone who will need my protection for at least the first 18 years of his life. I’ve to deal with life uncertainties and ensure that we’re well-covered in the most prudent way possible. I certainly do not want to be caught in a situation more dire than I could have anticipated.
Most people won’t claim buying insurance as their favourite thing to do. To be honest, I don’t like dealing with numbers and reading numerous plans that don’t interest me in the very least. I also don’t want to be caught in a situation where I’m not covered for certain things because I didn’t ask about the details.
I bought my first insurance policy at the age of 25!
At that time, I thought of my mother who is a housewife her whole life with no income or savings of her own. If anything were to happen to me, I won’t be able to provide her with financial support. I realised that life insurance is a necessity that I can’t ignore. It provides financial security for my mum at a time she needs it most. And that was my first love letter for her.
Life insurance, to me, is like a love letter!
When you love someone, it’s the little things that make a difference like putting a nutritious dinner on the table, spending a day-out together, and listening to them talk about his or her day. It’s also about protecting them when you’re not around, providing financial security, and keeping their best interests in mind, even if they are too young to know what that means.
Life insurance gives me a peace of mind for life’s uncertainties, and it’s a way of showing my love to my loved ones. Therefore, I’m glad to say that it has helped me to overcome the biggest parenting fears that I’ve mentioned above.
As a leading life insurer with strong historical investment returns, I proudly select Tokio Marine as my insurer of choice. Tokio Marine is also a customer-first organisation who constantly delivers solid financial plans, along with honest and genuine servicing that I truly appreciate.
Based on a research study from the Life Insurance Association (LIA), an average working Singaporean would require at least S$626,000 to meet their Protection needs. This means an average Singaporean should aim to have approx. 10 times of their annual earnings as a basic life cover. At the same time, health care costs have increased over recent years.
With this in mind, Tokio Marine has TWO insurance products that are perfect for working adults as well as parents like us. Now, let me briefly share them with you.
TM Term Assure
If you’re between 25 to 35 years old, you can have half a million-dollar coverage against death, terminal illness, and total permanent disability with a 5-year TM Term Assure plan. This costs you less than S$1 a day! It’s SO affordable, isn’t it? You don’t even need to make a budget from your monthly spending.
Here are the benefits of TM Term Assure at a glance:
Besides the affordable premium, what I like about this plan is that I can add on the CI Accelerator Rider which covers a total of 36 Critical Illnesses (CI). There’s a wide range of coverage terms to suit my financial needs.
It’s so affordable and hassle-free!
KidAssure GIO Rider
As a parent, I believe that KidAssure GIO Rider is one of the BEST protection we can give to our children. It covers our children against 24 medical and hospitalisation conditions – all with no medical underwriting required! For a rider sum assured of S$50,000, this rider will only costs you less than S$1 a day!
This rider can be easily added to your TM Term Assure basic plan and coverage can be extended for up to 3 children within the same policy. It’s designed for children between 1 to 10 years old and coverage is till 19 years old.
Here are the benefits at a glance:
1Health declaration required
More details here.
Yes, you heard it right! The first of its kind, you’ll receive a refund of 80% of the total annual premiums paid for the rider when your child reaches 19 years old.
Take for example a child who is 6 years old –
- Annual Premium is S$350 for a rider sum assured of S$50,000
- Premium payment is 5 years
- Total premium paid is S$1,750
- When the child reaches age 19, you’ll receive S$1,400 which is refund of 80% of the total annual premium paid.
- So, the net outlay is just S$350 for coverage of 13 years!
Simply put, TM Term Assure is a basic and affordable term plan that provides significant lump sum pay-out against death, terminal illness, and total permanent disability. For less than S$1 a day with a 5-year plan, you get a coverage of S$500,000. KidAssure GIO Rider can be attached to most basic plans to cover 24 medical and hospitalisation conditions. You just need to pay 5 years of premium to insure your child till 19 years old. On top of that, you’ll get a refund of 80% of the total annual premiums paid for the rider when he/she reaches age 19.
Wow! Finally, there’s an insurance plan that is SO affordable. For as little as S$1 a day, I can enjoy the peace of mind that I can protect myself and my loved ones from life’s uncertainties. Dare I be bold enough to say that this is the MOST AFFORDABLE insurance plan that cares in every step of the way!
As parents, we always want the BEST for our children. Hence, I believe that their safety cannot be compromised. Safeguarding their happiness is also a way of loving them. By giving them that peace of mind for life’s uncertainties, we can achieve both – be it now or the future.
Last but not least, if you’re keen to know more about Tokio Marine Life Insurance, head down to Baby World 2017 and visit Tokio Marine booth (K15). Exciting fun games awaits you too! See you there!
Date: 30 June to 2 July 2017
Time: 11am to 8pm
Venue: Suntec City Exhibition, Level 4
Alternatively, please visit www.tokiomarine.com/protect for more information on TM Term Assure and KidAssure GIO Rider.
Disclosure: This post is brought to you by Tokio Marine Life Insurance.