China Taiping Insurance Singapore launched the first product in its Infinite series for High-Net-Worth individuals.
Infinite Harvest is a single premium participating whole life plan aimed at helping the affluent and high-net-worth individuals create a lifetime income – be it an enhancement of wealth for legacy or for retirement, the firm said in a statement.
«Infinite Harvest is the first product of our Infinite series and a cornerstone of legacy planning from wealth accumulation to transfer. It is specially crafted for parents to create a gift of love beyond generations or for individuals who wish to build a passive stream of lifetime income to supplement their lifestyle,» Lance Tay, General Manager of Life Insurance, China Taiping Insurance Singapore, said.
Infinite Harvest Key Benefits
- One-time premium payment for a lifetime of monthly income starting from the 5th policy anniversary. Monthly income adds up to 4.27 percent (1.77 percent guaranteed + 2.5 percent non-guaranteed) of the single premium.
- Immediate liquidity with a guaranteed cash value of 80 percent of the single premium which will increase throughout the policy years.
- 100 percent capital guaranteed from as early as 10th policy anniversary.
- No medical check-up is required and is available to anyone between ages 1 and 70.
- A minimum single premium of S$112,412 for a lifetime monthly payout of S$400.
