That was quick – mere weeks after Aviva launched its whole life policy, Tokio Marine has announced enhancements to its flagship policy – TM Legacy Plus.
The biggest enhancement would probably be the upgrade in the Minimum Benefit, or Minimum Protection Value, which I have touched on before. The MB factor used to be 2.5 for people 24 years and below, meaning a $100,000 policy will cover the person for $250,000. It was 2.0 for someone between 25 to 29, 1.8 between 30 – 34 and decreases for people in older age groups.
The revision will increase the MB factors across the board, bringing it to 2.5 for entry ages of 1 to 31. Furthermore, the Minimum Benefit span until age 70 next birthday instead of 65.
A negative clause on congential illnesses is also removed.
The guaranteed cash values are generally revised downwards with ......