Insurance
Vivolife – Market Comparison
By Patrick Lim  •  January 24, 2008
Vivolife is a recently launched limited premium WL policy by NTUC. Patrick's comments has been pretty positive. Here's his take on it. By: Patrick Lim As promised, I have finally completed a market comparison of Vivolife versus the competition, meaning all 10/15/20/25 years limited premium whole life products priced with reviewable and non-guaranteed premiums. obviously, this will exclude Aviva's ideal living 12/21 years limited premium whole life plans because this is the only insurer that is still offering these products with premiums that are priced to be non-reviewable and guaranteed. On the competition, some of the most competitively priced products in the FA/IFA channel and for the whole life insurance industry, being TM Asia life's life secure with DD accelerator rider and UOB life's maxi life II with CI shield. For comparison, I will first cite the 10 years limited premium paying term with sum assured of $100,000 for a male juvenile, aged 0 last birthday and age 1 next birthday: If based on lowest priced premiums: 1. TM Asia Life 2. UOB Life 3. NTUC-Income Next, the lowest priced premiums for same sum assured of $100,000, male aged 30 years, 40 years and 50 years last birthday and next birthday: 1. UOB Life 2. TM Asia Life 3. NTUC-Life However, it must be stressed that the difference in pricing in terms of both annual premium and total premiums payable is not significant. For example, for age 0/1, the difference for total premiums payable is just $1,338.50 for lowest and highest priced premiums across the 3 insurers. but the difference is the largest for age 50 when it comes in at a much larger $8,158.50. Not surprisingly, the same results apply to the other 15/20/25 years limited premium paying terms as well.
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.
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4 Comments

4 responses to “Vivolife – Market Comparison”

  1. Johnny says:

    UOB has just increase their premiums significantly, your facts may be outdated.

  2. Derek says:

    Hi Johnny,

    Thanks for your feedback. The information should be correct at the date it was published. For further clarification, feel free to drop an email to Patrick. He will be more than happy to hear from you.

    Cheers!

  3. Ansh says:

    DO u think it’s good to compare these products based on premiums or would be beter if we compare the features and benefits of the product… Thanks

  4. Derek Lim says:

    Hi Ansh,

    For life plans, it is very difficult to compare apples to apples because like you mention, the features can be very different.

    For me, I will first work out the minimum coverage and features that I require followed by my budget. In this way, I know that I’m not under insured and any additional coverage/ features that can fit into my budget will be a bonus.

    One of my authors Patrick posted an article on comparing term plans. A term plan is perhaps one of the most homogeneous insurance products that we can compare pricing on an apple-to-apple basis.

    http://patlim.blogspot.com/2009/03/fancy-paying-5168-for-bottle-of-mineral.html

    Cheers!

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