What is Legacy Planning and its Benefits

 Everyone values planning for the future and making sure that loved ones are taken care of. By planning ahead, you can be sure that your family will be looked after and your wishes fulfilled. Here is where legacy planning steps in. Legacy planning is all about making sure that your assets are given to the right people once you have passed away. Let us get into more detail about what legacy planning is and its benefits.

Legacy planning

What is legacy planning?

Legacy planning is the process of deciding how you want your property, money, and possessions to be distributed after you pass away. It's about taking control and ensuring that your family is taken care of and your wishes are followed. Legacy planning insurance ensures a smooth transition of your assets through various key benefits such as the multiplier benefit, capital guaranteed for single premium policy, etc. It is about protecting your life's work and making sure that your legacy lives on exactly as you envision it. 

Benefits of legacy planning insurance


·        Multiplier Benefit extending to age 100:

With the multiplier benefit, your protection keeps increasing as you get older, giving you even more security. This means that until you reach either 85 or 100 years old, depending on your plan, your coverage will keep growing stronger. So, as time goes on, you can rest assured knowing that you are continuously well-protected, even as you enjoy your later years. 


·        Pay at your own pace:

You can pay at your own pace with flexible premium options tailored to suit your needs. Whether you prefer making a single payment or spreading it out over 3 to 30 years, the choice is yours. Once you have completed your payments, you will enjoy lifelong coverage. This makes sure that your loved ones are protected and your legacy is secured. It’s easy - pay as you please and enjoy peace of mind knowing that your future is taken care of. 

·        Option to change life assured:

With the option to change life assured, you have the power to extend your legacy both personally and professionally. If you own the policy individually, you can change the life assured. For corporate-owned policies, there is no limit, you can make changes as many times as needed. This flexibility makes sure that you can adapt your coverage to reflect any changes in your life or business. It provides you with peace of mind and the ability to protect what matters most whenever you need to.


Legacy planning

·        Capital guaranteed for single premium policy:

With the capital guaranteed for a single premium policy, you can be assured of your investment’s safety. After the 20th year for USD plans and the 25th year for SGD plans from the policy start date, your capital is guaranteed. This means that despite market fluctuations or economic changes, you’ll receive back at least the amount you initially invested. It is a secure way to plan for your future, providing peace of mind and financial stability over the long term. 

Legacy planning is an important financial step that makes sure you can protect and distribute your assets to future generations. By doing so, you can support your family and leave a lasting legacy




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