Universal Life and Whole Life Insurance Plans
Ensure your children get an equal share of your wealth
Your current situation
You are a successful owner of a family business. Your assets are worth $5.3 million, of which $4.0 million is in your business and $1.3 million is in cash.
Your concern
You want to ensure both children receive an equal distribution of your wealth in the future. However, as your son is planning to take over your $4 million business, your daughter will only receive $1.3 million in cash.
What you can do
Now you can create a larger estate to transfer to your children. Purchase an insurance plan with a premium of $1.3 million which pays out $4 million to your estate.
The result
Your estate will be worth $8 million. You enjoy peace of mind knowing that both children are equally well taken care of.
Note: The premium used in the example is rounded to the nearest hundred thousand and could vary based on age, gender, smoking status, country of residency at inception and other loadings imposed (if any).
Besides catering to estate planning needs, this insurance plan can also be customized to meet the needs of business owners seeking insurance coverage in other areas, such as insuring against the loss of a keyman and supporting a business continuity plan.
Important Notice
This advertisement has not been reviewed by the Monetary Authority of Singapore.
This is for general information and illustration purposes only. It is not a contract of insurance nor does it constitute an offer to buy an insurance product or service. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. It does not provide any insurance or financial advice. You may wish to seek advice from a financial adviser before making a commitment to purchase a life policy. If you choose not to seek advice from a financial adviser, you should consider whether the life policy in question is suitable for you. Insurance policies are underwritten by the respective insurers and are not bank deposits, obligations of, or guaranteed by OCBC Bank. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid. The specific terms and conditions of the plan are set out in the policy documents. OCBC Bank is not responsible or liable for any loss or damage arising directly or indirectly in connection with, or as a result of, any person acting on any of the information in this document. This document may be translated into the Chinese language. If there is any difference between the English and Chinese versions, the English version will apply.
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