Tokio Marine Singapore
Tokio Marine Holdings Inc. is a Japanese multi-national insurance company. It was founded in 1879 in Tokyo, where it remains headquartered today. Tokio Marine is present in 38 countries and is listed on the Tokyo Stock Exchange (TYO) where it's part of the Nikkei 225 and TOPIX, and the Nasdaq Stock Market (NASDAQ).
What you should know about Tokio Marine Insurance
Tokio Marine Insurance Plans
Tokio Marine Life Insurance
While there are a total of 9 term, whole, and investment-linked term plans available at Tokio Marine, there are only 3 traditional whole life insurance plans.
The Tokio Marine Go Life Pro is a whole life plan that covers you up to age 99. Its Booster package is essentially a simplified and streamlined version of the traditional whole life insurance's multiplier system.
TM Legacy LifeFlex
Tokio Marine's TM Legacy LifeFlex is a conventional whole life insurance plan which offers you the full monty of death, terminal illness, and total permanent disability coverage – alongside guaranteed and non-guaranteed bonuses from participating funds, and multipliers which you can add to increase your coverage.
Direct – TM Basic Whole Life
The TM Basic Whole Life is a DPI (Direct Purchase Insurance) plan which the average Singaporean can purchase directly from Tokio Marine without the help of an insurance agent. It boasts a simpler structure – lump-sum payout in the event of death, option for a critical illness rider, and straightforward (but longer) premium payment periods.
Why choose Tokio Marine Legacy LifeFlex?
Base Sum Assured
When you apply for a whole life insurance plan like this, you will be required to choose a base sum assured (the basic lump-sum payout you want to receive)
Tokio Marine Legacy LifeFlex offers a high 10 times multiplier only up to 65 years old.
Flexible Premium Payments
You will get to choose whether you want to pay your premiums for the next 10, 15, 20, or 25 years while you're still in your income-earning years.
Tokio Marine promises that the stated yearly premiums that is stated in your contract will not abruptly increase over the years.
You may receive non-guaranteed yearly payouts from the age of 65 onwards.
Critical Illness Riders
You will have the option to extend your whole life plan's coverage to include critical illnesses, and early critical illnesses.
Whole life insurance plans often have a cash value to it which increases over the years. You can choose to receive your cash value annually over a period of 10 years – and you will receive an additional 5% interest along with it.
Tokio Marine Term Life Insurance
What types of insurance does Tokio Marine offer?
Tokio Marine offers 8 categories of general and life insurance products, ranging from whole and Term life, health, home, personal accident, car and motorcycle, travel, savings insurance, and wealth management.
Types of Insurance offered by Tokio Marine
There are 9 whole life and Term life insurance plans at Tokio Marine Singapore - the flagship whole life insurance plan is called Tokio Marine Legacy LifeFlex while the signature Term life plan is called Tokio Marine Term Assure II.
Tokio Marine offers 7 different types of health insurance plans and riders in Singapore, spanning the MultiCare critical illness plan, EarlyCover early critical illness plan, KidAssure GIO Rider, TMCare Individual Hospital and Surgical insurance, and more.
Tokio Marine's TM Flexi-Home Enhance is a home insurance which protects your building, renovation, contents, personal accident, worldwide family liabilities, and more.
4Personal Accident Insurance
There are 4 personal accident insurance plans at Tokio Marine, namely the TM Personal Accident, the TM 365, the TM Protect PA, and the TM Protect MosBite which covers you for Dengue, Zika, Chikungunya, Yellow Fever, and Malaria.
5Car and Motorcycle Insurance
If you ride or drive, Tokio Marine offers either a comprehensive or a basic third-party motor insurance to meet your needs.
If you intend to travel, Tokio Marine offers a single trip or an annual insurance plan for frequent flyers. However, Tokio Marine's travel insurance will not COVID-19 as it is a known global event.
Tokio Marine offers numerous saving plans for different types of needs – whether you are stashing an emergency fund for rainy days, saving for retirement, or for your child's education.
8Wealth and Legacy
There are also various investment plans for wealth planning, along with legacy and wealth management plans for high net-worth individuals.
How to apply for your Life Insurance plan
Applying for a Life Insurance plan through MoneySmart
Step 1Answer Some Questions
Don't have time to compare all the different life insurance plans in Singapore? Answer some questions and let our intelligent system find the best life insurance plan for you.
Step 2Speak To Our Insurance Specialists
After you submit your quiz, our expert insurance specialist team members may drop you a call to clarify your needs and explain your options to you. Seize this chance to ask our friendly colleagues the burning questions you may have about life insurance!
Step 3Apply And Purchase Your Life Insurance
Once you have spoken to our insurance specialists, considered your options, and planned your finances, you are ready to apply for your life insurance plan online through our portal.
Tokio Marine Life Insurance Claims
What are insurance claims? An insurance claim refers to the request for monetary reimbursement that the insurance plan's owner (aka you) have submitted to your insurance company. There is a lot of talk around claims because that's pretty much the point of getting a life insurance plan. What sets an insurance company apart (and likewise turn customers off) from another is the reliability, and convenience of the claims system.
How to Claim with Tokio Marine
Inform Tokio Marine
If you have a Tokio Marine insurance agent, call or drop him or her a text immediately to notify Tokio Marine of your illness diagnosis or death in the family.
For detailed step-by-step guides, visit the Tokio Marine website, and click on "Resources" followed by "Claims Center" on the left hand side menu. You will then be able to select the relevant situation you are in and the claims that you intend to file for.
Once you have selected your claim category, you will immediately see a download link for the claim form that you will need to fill up. You will also find a link that will bring you to a step-by-step guide, including a list of supporting documents that you will need to prepare before you submit all the claim forms and documents to your Tokio Marine insurance agent or mail it back to the Tokio Marine Singapore office.
Frequently Asked Questions
What does Tokio Marine do?
- Tokio Marine is a Japanese multinational insurance company that is currently based in Tokyo. It was founded in 1879 and its main business involves life and general insurance – both of which are available in Singapore.
Is Tokio Marine good?
- Tokio Marine is a reputable Japanese insurance company with a storied history. In Singapore, as with all major insurance providers, Tokio Marine is regaled by Singapore's Monetary Authority of Singapore (MAS). It also is a member of MAS' Policy Owner's Protection (PPF) scheme – a programme meant to protect consumers in the event the insurance company goes out of business and exits the market.
How do I check my Tokio Marine policy?
- You can check your Tokio Marine policy online via Tokio Marine Singapore's "Policy Enquiry" site. Otherwise, call the Tokio Marine Singapore customer service hotline at +65 6221 6111 from Mondays to Fridays, 8.45am to 5.45pm.
How do I cancel my Tokio Marine insurance?
- To cancel your Tokio Marine insurance, you will have to call your Tokio Marine insurance agent or the Tokio Marine customer hotline at +65 6221 6111 to obtain a termination form. Fill the form up, and mail it back alongside any necessary supporting documents to the Tokio Marine Singapore office at 20 McCallum Street #07-01, Tokio Marine Centre, Singapore 069046.