1. Personal Accident Insurance
- Compensation varies by product (one-off compensation payments, reimbursement of medical, hospitalization and treatment expenses, and the like.)
- Varies based upon the occupation of the insured party
- Subject to annual renewal
2. Life Insurance
- Protection for loved ones in the event of the insured party's demise
- Classification including whole-life insurance, term life insurance and universal life insurance
- Variety of fixed instalment periods, ensuring flexible cash flow with policy loan amounts while dividends increase the policy's cash value
- Premium financing services:
◾ Premium financing arrangements to obtain bank loans to pay premiums
◾ Financial flexibility in premium payment with life insurance protection
◾ Classified as a loan product involving debt with variable interest rates
3. Critical Illness Insurance
- One-off cash payment as financial protection to the insured party in the event of a diagnosed critical illness
- Insurance companies may cover less critical illnesses such as carcinoma in situ, paying 10-20% of the insurance sum
4. Medical Insurance / Voluntary Health Insurance Scheme
- Shares costly medical expenses with client
- Including hospitalization, surgical, and other medical (non-surgical) expenses
5. Participating Insurance
- Offers both “protection” and “dividends” to the insured party
- Benefits from investment performance of the insurance company, in addition to the insurance protection offered by the policy
- Provides clients with advantageous, long-term, stable investment returns
6. Annuity / Deferred Annuity
- Classified as immediate annuity or deferred annuity, annuities are for retirement planning, converting accumulated savings into stable income over a certain period of time
- Immediate annuity policies have no accumulation period and serve a stable value-added purpose. Policyholders receive regular monthly annuity income after making a one-off premium payment
- Deferred annuity policies have an accumulation period and an annuity payment period. During the accumulation period, policyholders can pay premiums in a lump sum or periodically, allowing their funds to accumulate interest during that period