We will pay if the Insured dies or becomes Totally and Permanently Disabled, in accordance to the terms set out in the policy contract, during the policy term.
We will also pay a guaranteed cash coupon each year, starting from the second policy anniversary if the Insured survives during the policy term.
If the Insured survives at the end of the policy term and the policy has not ended, we will pay a maturity benefit.
We will not pay the Death Benefit if the Insured commits suicide within the first year of policy commencement. The policy will cease with immediate effect and we will refund the total premium received without interest.
Total and Permanent Disability is defined as the inability to take part in any paid work for the rest of the Insured’s life, or Total Physical Loss.
Insured must be incapable of engaging in any occupation when is he Totally and Permanently Disabled. We do not pay if the Insured is merely unable to perform the same job as before, or is unable to perform a job to which his training, education or experience is suited.
“Total Physical Loss” refers to:
We will pay this benefit in a lump sum, subject to a maximum payment of S$1 million each year. We will pay the remaining amount of this benefit in yearly installments if the benefit exceeds S$1 million.
We will not pay this benefit if your claim arises from:
We do not pay if the Insured is merely unable to perform the same job as before, or is unable to perform a job due to the limitations of his training, education or experience.
You will need to provide us with a medical certificate by a Registered Medical Practitioner certifying that the Insured is Totally and Permanently Disabled for at least six months consecutively.
No, once we begin paying the TPD benefit, your policy and all Riders (except for Extended Total and Permanent Disability Benefit) will cease immediately and you do not have to pay premiums
Yes, you can add or remove Riders anytime after the policy is in force. However, adding Riders after the policy is in force will be subject to a reassessment of your health and financial situation.
Yes, your policy will have a cash value when premiums have been paid for at least two years.
No, there is no cash value for Riders.
Yes, your policy is eligible to bonuses after the end of the second policy year. There are two types of bonuses.
Bonuses are not guaranteed. They are recommended by our Appointed Actuary and approved by our Board of Directors.
The Maturity Benefit is a lump sum payment made to you when your policy matures at the end of the policy term. At maturity, we will pay
The amount of guaranteed and non-guaranteed Maturity Benefit is shown in the Benefit Illustration.
Yes, your policy has a surrender value after you have paid premiums for two years. However, buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value may be less than the total premiums paid.
Cash benefits, also known as Coupon Payments, are guaranteed cash payments. It is equal to 5% of the Sum Assured and given to you each year so long as the Insured is alive, starting from the second policy anniversary.
We will write to you before your first cash benefit is due to confirm how you would like to use it. There is a default option in the letter. You should inform us if your choice is different from the default option.
You can exercise any one of the following options:
Deposits are Cash Benefits that you have accumulated with us to earn interest.
The current interest rate for Deposit is 3.5% p.a. This is not guaranteed and subject to review.
You can only top up using subsequent Cash Benefits at the time when they are due. Topping up of Deposits after the Cash Benefit is withdrawn, or using cash is not allowed.
Interest for Deposits is computed daily.
Withdrawals can be made anytime, subject to a minimum amount. The current minimum amount is $500 and this is subject to review.
It will be paid to you in a lump sum when your policy is no longer in force.
No, you can only use cash to buy this policy.
The minimum Sum Assured is $15,000 per policy.
There is no maximum limit on the Sum Assured but it will be subject to an assessment of your health and financial condition.
Yes, you can backdate your policy up to 6 months, so that you can pay premiums based on a lower entry age.
Yes, you can take a policy loan subject to the prevailing terms and conditions.