Tokio Marine Endowment Plan Singapore 2026: TM Nest Egg (II) FlexiSaver & CashBack 8/10 Reviewed

Guaranteed monthly or yearly payouts, plus the real 2023-2025 Par Fund return data Tokio Marine doesn’t put on its own product page.

Tokio Marine Life Insurance Singapore runs two endowment-style savings plans under its TM Nest Egg (II) name: FlexiSaver, which pays a flexible guaranteed monthly cash payout plus a non-guaranteed dividend, and CashBack 8/10, which pays guaranteed yearly cash from your 2nd policy anniversary. Both come from a 140-year-old Japanese insurance group, and neither publishes a single guaranteed percentage return.

Not financial advice. All figures are for educational reference only. Data verified as at 25 July 2026 against tokiomarine.com and official product disclosure documents unless otherwise stated.

Table of Contents

Who Is Tokio Marine Life Insurance Singapore?

Tokio Marine Life Insurance Singapore Pte. Ltd. (Company Reg. No. 194800055D) is a MAS-licensed Direct Insurer (Life), headquartered at 20 McCallum Street, Tokio Marine Centre. It’s part of Tokio Marine Holdings, a Japanese insurance group that traces its roots back to 1879 — making it one of the oldest insurers still operating today, with more than 140 years of history.

In Singapore’s endowment plan market, Tokio Marine sits in the same “smaller footprint” tier as insurers like China Life or Etiqa — it doesn’t have AIA, Prudential or Great Eastern’s brand recognition locally, but it distributes through IFA firms and its own agency force, and every policy carries the same Policy Owners’ Protection Scheme (administered by the Singapore Deposit Insurance Corporation, SDIC) coverage as the bigger names.

Tokio Marine’s savings product line-up covers three areas: general Savings (where both products in this review sit), Education (TM Kidstart (II)), and Retirement (TM Retirement GIO Plus (II)). If you’re new to how these plans work mechanically, our what is an endowment plan guide covers the basics first.

TM Nest Egg (II) FlexiSaver: How It Works

FlexiSaver is a limited-pay, participating endowment plan built around one idea: you choose the shape of your own payout schedule. Tokio Marine lets you mix and match four variables, subject to a 30-year overall cap:

Source: Tokio Marine Life Insurance Singapore, TM Nest Egg (II) FlexiSaver product page (correct as at July 2021), cross-checked against the official Product Summary dated 3 June 2026.

Every month during your chosen payout period, Tokio Marine pays a Cash Benefit made up of two parts: the Guaranteed Monthly Cash Payout, which equals the policy’s notional sum assured (a fixed dollar figure set when you buy the policy, not a percentage rate), plus a non-guaranteed monthly dividend that depends on how the Participating Fund performs. Tokio Marine is upfront that this notional sum assured “does not represent the amount to be payable on the insured events” — it’s purely a reference figure used to calculate your payouts.

FlexiSaver also bundles in death and terminal illness coverage, plus optional riders (Cancer Waiver, Payer Benefit, Spouse Rider, Enhanced Payer/Spouse Rider, Waiver of Premium, and an Early Critical Illness Premium Waiver Rider) if you want future premiums waived on specific triggers.

Worked Example: What FlexiSaver Actually Pays

Because the Guaranteed Monthly Cash Payout is a fixed dollar figure tied to your specific premium quote (which Tokio Marine doesn’t publish without an adviser illustration), you can’t calculate an effective guaranteed percentage return the way you can with a simple single-premium plan. What Tokio Marine does publish is how the non-guaranteed dividend scales as a percentage of that guaranteed payout — and that’s genuinely useful.

Take a policy with a 10-year premium term and a 10-year payout period, at Tokio Marine’s illustrated Investment Rate of Return of 4.25% p.a. If your accumulation period is 0 years (payouts start right after your last premium), the illustrated monthly dividend adds 29.5% on top of your Guaranteed Monthly Cash Payout. Delay your payout start by choosing a longer accumulation period, and that dividend percentage climbs sharply — to 40.5% at 2 years, 63.9% at 6 years, and 90.3% at a full 10-year accumulation period.

In plain dollar terms: if your Guaranteed Monthly Cash Payout is S$500, a policy with no accumulation delay would pay roughly S$500 + S$147.50 (29.5% illustrated dividend) = ~S$647.50 a month at the 4.25% illustrated rate, while the same policy with a 10-year accumulation period would pay roughly S$500 + S$451.50 (90.3%) = ~S$951.50 a month. The trade-off is obvious: you wait longer before the money starts flowing, but the illustrated total is meaningfully higher once it does.

Two honest caveats. First, Tokio Marine also publishes a lower illustrated rate of 3.00% p.a., at which “dividend rates are expected to be adjusted downwards” — the exact lower figures aren’t listed publicly, so you’d need a personalised Policy Illustration to see both scenarios side by side. Second, and more importantly: the dividend portion is not guaranteed. Only the base Guaranteed Monthly Cash Payout is contractually locked in; everything above it depends on how the Participating Fund actually performs, which is exactly what the next section digs into.

The Real Numbers: Par Fund Performance 2023-2025

Here’s the most useful thing buried in Tokio Marine’s paperwork that you won’t find on its marketing pages. FlexiSaver’s own product page says the information is “correct as at July 2021” — nearly five years stale. But the official Product Summary document, hosted on the comparison portal comparefirst.sg and dated 3 June 2026, discloses actual, audited Participating Fund performance:

*After deducting investment expenses only; not the actual dividend rate paid to policyholders, which also reflects insurance costs, commissions and smoothing. Source: Tokio Marine Life Insurance Singapore, official Product Summary (TM Nest Egg (II) FlexiSaver), dated 3 June 2026, via comparefirst.sg.

Notice the gap between the 3-year average (9.85%) and the 5-year average (just 1.64%). That’s not a typo — it’s what happens when a couple of very weak years (most likely 2021-2022, when global bond and equity markets both sold off together) are still inside the 5-year window but have already rolled out of the 3-year one. It’s a reminder that “average returns” depend heavily on which years you’re averaging, and a single headline number can hide a lot of volatility underneath.

The Fund’s own asset mix explains some of that pattern: as at 31 December 2025, it held roughly 68% fixed income, 26% equities, and 6% cash and other assets — a bond-heavy, conservatively positioned Participating Fund, managed together with an appointed external manager (Schroder Investment Management). That mix is why returns moved in the high single-to-low-double digits recently rather than swinging as wildly as a pure equity fund would.

TM Nest Egg (II) CashBack 8/10: How It Works

CashBack 8/10 takes a completely different shape from FlexiSaver. Instead of a flexible, customisable schedule, it’s a simple structure: pay premiums for 2 years, then receive guaranteed yearly payouts starting from your 2nd policy anniversary, for either 8 or 10 years depending on which plan term you pick.

Source: Tokio Marine Life Insurance Singapore, TM Nest Egg (II) CashBack 8/10 product page, information correct as at July 2021.

Unlike FlexiSaver, Tokio Marine’s public page for CashBack 8/10 doesn’t disclose a specific payout amount, an illustrated dividend table, or Participating Fund data specific to this variant — the page is noticeably thinner on detail. We couldn’t locate a public Product Summary for CashBack 8/10 the way we found one for FlexiSaver, so we can’t show you an equivalent worked example here. If you’re seriously considering this plan, ask your adviser for the full Product Summary and Policy Illustration before committing — don’t rely on the product page’s marketing copy alone, which is honestly true of any endowment plan review, including this one.

Tokio Marine’s own suitability notes are blunt about who this plan is for. It’s designed for cash liquidity and a short premium commitment with no medical check-up — not for high protection coverage, a longer premium term, or payouts that continue for life. If you want a plan that pays out indefinitely rather than for a fixed 8 or 10-year window, that’s closer to what a retirement income plan like Tokio Marine’s own TM Retirement GIO Plus (II) is built for, not CashBack 8/10.

How It Compares to CPF, SSB & T-Bills

This is where Tokio Marine’s TM Nest Egg (II) plans are genuinely harder to compare than most of the insurer plans we’ve reviewed. FWD and China Life both publish a single guaranteed percentage rate you can put straight into a comparison table. Tokio Marine doesn’t — its guaranteed portion is a fixed dollar payout tied to a premium quote you can only get from an adviser, not a published rate.

Here’s an honest comparison using what’s actually publicly verifiable as at 25 July 2026:

*Illustrated dividend range for a 10-year premium term, 10-year payout period policy at Tokio Marine’s 4.25% p.a. illustrated Investment Rate of Return, across accumulation periods of 0 to 10 years — not guaranteed. Sources: Tokio Marine Product Summary, CPF Board, ilovessb.com, as at 25 July 2026.

The honest takeaway: if a single guaranteed rate is what you’re shopping for, CPF’s Special/MediSave/Retirement Account floor of 4.00% and even the Ordinary Account’s 2.50% floor are both simpler, higher and fully transparent compared with Tokio Marine’s undisclosed guaranteed payout structure. What Tokio Marine’s plans offer instead is a mix of built-in life and TI protection, a real (if bond-heavy) Participating Fund track record, and flexibility over payout timing — not a rate advantage. For a broader look at how endowment plans stack up against government-backed guaranteed options generally, see our endowment plan vs SSB comparison, or our CPF investment strategy guide if you’d rather put idle CPF savings to work directly.

Who Should (and Shouldn’t) Consider It

Consider it if: you want a savings plan bundled with genuine life and terminal illness protection rather than a pure savings vehicle, you like the idea of customising exactly when and how long your payouts run (FlexiSaver), or you want a short 2-year premium commitment with guaranteed yearly cash afterwards (CashBack 8/10). The Participating Fund’s recent 3-year track record (9.85% average, before insurance costs) is also a genuine positive, even if its 5-year average is far more modest. Before committing, it’s worth working out how a plan like this actually fits your broader retirement timeline — our retirement planning calculator can help you see whether the amount you’d otherwise put into premiums is better placed here or elsewhere.

Skip it if: you want to compare a clean guaranteed percentage rate against CPF, SSB or T-bills upfront — Tokio Marine simply doesn’t publish one for these plans, so you’ll need to sit down with an adviser and get a Policy Illustration before you can judge the real numbers. Also skip it if you need liquidity before 3 full years of premiums are paid, or if you’d rather have a transparently disclosed guaranteed floor like CPF’s 2.50%-4.00% rates.

If you’re comparing across the smaller-insurer tier specifically, our FWD Endowment Plan review is a useful contrast — FWD publishes one clean guaranteed rate on a simple single-premium plan, which is the opposite trade-off from Tokio Marine’s flexible-but-opaque structure.

Pros and Cons

Frequently Asked Questions

Want a Clear, Published Guaranteed Rate Instead?

If comparing exact numbers matters to you, government-backed options and robo-advisers publish their rates and fees upfront — no adviser quote needed.