Case study: Enhancing protection and legacy 

Issue 3, August 2023 I PCS Vision

As children mature, parents' concern for their future endures. We help this couple plan a secure future for their children while ensuring they have ample life protection coverage.

PCS by Mercer clients are a successful middle-aged couple. The husband and wife are the directors and owners of a large manufacturing and trading company. They are financially savvy and have a history of enhancing their life protection every five to six years to cover their growing assets. 

They have three children, one of whom is married.

1. Our clients’ key concern is the enduring welfare of their children. They want them to have a strong and dependable source of ongoing income in the future. The clients are also concerned with securing a long-lasting legacy. 
2. They are in the process of growing the family business, and as they are planning to use leverage for the expansion, it was also a good time to review their existing life protection coverage. The clients each held universal life policies through another broker. 
3. When we met them, the clients expressed a preference for exploring offshore insurance as a good way of diversifying and managing their asset protection risks. 
4. The clients are time-short and want to avoid unnecessary travel whenever possible.

To service our clients’ preference for not travelling, PCS by Mercer Singapore utilized our end-to-end remote processes. And after reviewing our detail presentation on both single- and multi-pay Indexed Universal Life (IUL) policies, our clients each invested in a new multi-pay IUL policy.

Premium: USD4.5M via private bank-funded multi-pay. 

Sum assured: The clients are now covered for more than USD10M each. Their combined policies are sufficient for life cover as well as legacy planning purposes.

• Clients are as concerned for adult children as they are for younger ones. As children grow into adults, parental focus might shift toward legacy planning, but the desire to secure their children’s future remains steadfast. 
• PCS by Mercer Singapore’s remote process provides convenience and allows clients to act immediately. Meetings are on zoom, and documents are signed electronically, enabling busy clients to incept policies with minimum disruption to their schedules. 
• PCS by Mercer have an ethos of helping clients make fully informed decisions. Single-pay and multi-pay IUL policies address different needs, so we present both to clients for consideration.