MaxAdvance Payout is a 15-year endowment insurance plan that gives a yearly payout of at least S$1,000 starting from the 2nd policy anniversary to the 14th policy anniversary. In addition, it has a compulsory Accidental Death Benefit attached to it.
It is not a fixed or savings deposit.
Ms Tan is a 30-year-old (age next birthday) who bought herself MaxAdvance Payout (15 years) and its compulsory Accidental Death Benefit (Payer 15) with sum assured of S$20,000.
If she terminates the plan before it matures, she may receive the surrender value, which is less than the total premiums she has paid.
The figures used are for illustrative purposes only. Please refer to the policy illustration and product summary for the exact values. The non-guaranteed bonuses are based on an illustrated investment rate of return of the participating fund at 4.75% p.a. Based on an illustrated investment rate of return at 3.25% p.a., the policy benefit will be S$29,801. The actual benefits payable will vary accordingly to the future performance of the participating fund. Please refer to the policy illustration and product summary for more information.