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TM Legacy Plus Revision
That was quick – mere weeks after Aviva launched its whole life policy, Tokio Marine has announced revisions to its flagship policy – TM Legacy Plus.
The biggest change 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.
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5:56 pm
Unhealthy People and Insurance
I am in what I call “Underwriting Hell”.
Underwriting in the context of insurance refers to the process where insurers assess the risk of an individual applying to take up insurance cover by looking at his medical history and health condition. Unhealthy people will naturally complicate the process, leading to a lot of added paperwork, trouble and complexities.