How does Wealth Genius Income Plan work?
Wealth Genius Income Plan (“Wealth Genius”) pays you guaranteed cash coupons up to age 138¹ of the initial insured, giving you extra financial flexibility throughout each stage of your life. The plan puts your finances in your control, offering 3 premium payment term options to match your financial requirements, as well as the option to change to a new insured so your wealth can support the next generation.
Product Features
Premium payment term as short as 3 years with fixed and guaranteed premiums
Guaranteed cash coupons will be paid up to age 138 of the initial insured
High liquidity is offered to meet your financial needs
Change of insured option
Protect yourself and your family against the unforeseen
How does Wealth Genius Income Plan work?
Premium payment term as short as 3 years with fixed and guaranteed premiums
To suit your personal needs, you can choose one among the three premium payment term options of 3 years, 5 years or 10 years. Your premium will remain unchanged throughout the premium payment term to ease your financial planning.
Grow your wealth with guaranteed and potential returns
Guaranteed cash coupons will be paid up to age 138 of the initial insured
Starting from the end of the 3rd or 5th policy year, depending on your chosen premium payment term, Wealth Genius offers annual cash coupon² up to age 138¹ of the initial insured while the policy is in effect. An extra cash coupon² will also be available in specific policy years to boost your wealth accumulation.
| Premium payment term | 3 years | 5 and 10 years |
|---|---|---|
| Annual cash coupon² | 2% (from the end of the 3rd policy year up to age 138¹) | 2% (from the end of the 5th policy year up to age 138¹) |
| Extra cash coupon² | 6.5% (from the end of the 3rd policy year to the end of the 15th policy year) | 8.5% (from the end of the 5th policy year to the end of the 15th policy year) |
| Total percentage of the notional amount³ will be paid in the first 15 policy years | 110.5% | 115.5% |
% of the latest notional amount³
Besides, Wealth Genius offers guaranteed cash value⁴ and potential returns with annual dividends⁵ and terminal dividend⁵ to you, growing your wealth even further.
High liquidity is offered to meet your financial needs
Wealth Genius offers high liquidity to meet your financial needs with guaranteed cash coupons (annual cash coupon and extra cash coupon)² and annual dividends⁵.
Change of insured option
After the policy has been in-force for 8 years and during the lifetime of the insured while the policy is in effect, you may apply to change the insured of the policy subject to the prevailing administrative rules of the Company⁶, passing on your legacy from generation to generation with love.
Protect yourself and your family against the unforeseen
Life protection and flexible death benefit settlement options
In the unfortunate event that the insured passes away, the designated beneficiary will receive a death benefit.
To enhance flexibility for you and your loved ones, under the death benefit settlement option, the death proceeds can be paid in a lump sum or by instalments at regular intervals over a specified period of time to be agreed by us⁷.
Extra protection against health challenges with a cancer advance benefit
After a cancer waiting period of 5 years, if the insured or policy owner⁸ is first diagnosed with a Cancer at or before the age of 80, a cancer advance benefit⁹ which is equal to 100% of the death benefit will be paid to the policy owner to ease the financial burden of treatment expenses.
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Remarks
- “Up to age 138 / up to age 138” refers to the day before the maturity date (the maturity date is the policy anniversary on or immediately following the initial insured’s 138th birthday, whichever is earlier).
- Cash coupons (annual cash coupon and extra cash coupon) are credited on the policy anniversary immediately after the relevant policy year or as soon as reasonably practicable thereafter. Any indebtedness and outstanding premiums will be deducted from the cash coupons when payable.
- The notional amount is used for the calculation of premium, guaranteed cash coupons and relevant policy values of Wealth Genius; it is not equivalent to the death benefit of the insured and is only one of the factors in determining the death benefit payable.
- Starting from the end of the 2nd or 3rd policy year, depending on your chosen premium payment term, Wealth Genius carries a cash value. The underlying cash value rate used to calculate the cash value is guaranteed by the Company. If there is any change in the notional amount, the corresponding cash value will be adjusted accordingly. Please refer to the product brochure and policy contract for details.
- When your Wealth Genius policy has been in-force for 10 years, annual dividends and terminal dividend may be payable. Terminal dividend may be payable upon policy maturity, policy surrender, the death of the insured or when the cancer advance benefit becomes payable. Annual dividends and terminal dividend are not guaranteed and may be changed by the Company from time to time. Please refer to the product brochure and policy contract for details.
- The change of insured option is subject to the relevant terms, conditions and eligibility requirements. Please refer to the product brochure and policy contract for details.
- Interest will accrue on the balance of the death proceeds which is yet to be paid at an interest rate to be determined by the Company from time to time at its sole discretion.
- Cancer advance benefit only applies to a policy owner who is an individual and does not apply to a policy owner which is not an individual (e.g. a body corporate, unincorporated association, partnership, firm, joint venture and trust).
- The amount of the cancer advance benefit will be calculated as at the time when the benefit becomes payable. No cancer advance benefit will be payable in respect of any pre-existing condition(s) of the insured or the policy owner. Once the cancer advance benefit is payable, the policy will automatically terminate. The cancer advance benefit is subject to the relevant terms, conditions and exclusions.
Information on this webpage is for reference only, and not intended to be a complete description of the applicable terms and conditions. Please refer to the product brochure and policy contract for detailed terms and conditions. You should not purchase a policy based on the information on this website alone.
