FlexiLink is a single premium investment-linked plan 1.
1 An investment-linked plan is a plan where the premiums paid are used to purchase units in an investment fund. The price of the units will depend on the investment performance of the fund.
We will pay if the insured dies or becomes totally and permanently disabled in accordance to the terms set out in the policy contract.
We will pay the higher of the cash value or minimum sum assured as the death benefit.
|Age||Minimum Sum Assured|
|a) Below 60||1.25 x (Initial Single Premium + Total Top-ups - Total Withdrawals)|
|b) 60 and above||1 x (Initial Single Premium + Total Top-ups - Total Withdrawals)|
|Policy Year||Minimum Sum Assured|
|1st policy year||100% x (Initial Single Premium + Total Top-ups - Total Withdrawals)|
|2nd policy year onwards||110% x (Initial Single Premium + Total Top-ups - Total Withdrawals)|
We will not pay the death benefit if the insured committed suicide within one year from the commencement date of the policy. We will refund you the cash value and the policy will be completely free of all legal effect.
Medically Substandard Life refers to an insured suffering from any of the following listed medical conditions at:
Total and permanent disability (TPD) benefit
|Age when becoming totally
and permanently disabled
|Under 65||1.25 times
|Above 64||1 times
|Age when becoming totally
and permanently disabled
|Time when the insured event happens||Basic benefit|
|Under 60||Within one year from the cover start date||1 times
|Under 60||After one year from the cover start date||1.10 times
|Above 59||At all times||1 times
The 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 and permanent disability/totally and permanently disabled means the inability to take part in any paid work for the rest of the insured’s life, or total physical loss.
“Total physical loss” means:
We will not pay this benefit if your claim arises from:
We will also not pay this benefit unless the insured is certified by a registered medical practitioner to have been totally and permanently disabled for at least six months in a row.
We will pay this benefit in a single lump sum.
No, you cannot add riders for this plan.
Cash value and bonuses
Yes, your policy has a cash value. The amount of cash value will be based on the valuation price (offer price) of your units multiplied by the number of units, less charges and deductions if applicable.
The cut-off time used to determine the pricing of units is 3.00 pm (Singapore time) on each business day (Monday to Friday, excluding weekends and public holidays).
No, this plan does not provide bonus.
Yes, your policy has a surrender value. The surrender value is the amount of cash value, less charges and deductions if applicable.
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.
Eligibility and premium payment
You can only use CPF monies to buy this plan.
The minimum single premium investment is $5,000 per policy and you may select up to a maximum of two funds per policy.
There is no maximum limit set for investment.
No, you cannot backdate your policy.
You can do a single premium top-up.
The minimum top-up premium is $1,000 per top-up. For each top-up premium payment, we will allocate extra 0.5% as bonus units.
Bonus Units = (Top-up Premium /Offer Price) × 0.5%
The top-up premium will be taken into account for the computation of insurance coverage.
Investment-linked policy (ILP) funds available for investment
The following ILP funds are available for your investment:
|Core Funds||Target Maturity Funds|
|Singapore Bond Fund
Singapore Equity Fund
Global Bond Fund
Global Equity Fund
|Managed Funds||Specialised / Thematic Funds|
|Singapore Managed Fund
Asia Managed Fund
Global Managed Fund (Conservative)
Global Managed Fund (Balanced)
Global Managed Fund (Growth)
Global Technology Fund
You can refer to the Fund Report for more information.
Each investment-linked fund has its own investment objective, asset allocation and risk classification. You should consider all aspects of your financial situation, including risk profile and investment horizon, before making a decision. If you are in any doubt as to which fund to invest, you should consult your insurance adviser.
You may select up to a maximum of two funds per policy.
Yes, you are entitled to two free fund switches each year.
Depending on the circumstances in the future, we may revise the terms for switching. Sufficient notice will be given to you before any changes take effect.
Unit pricing and allocation
Forward pricing means that the prices of your transacted funds will only be known after the close of each dealing day.
The price is not available at the time of transaction. This is because many of our investment-linked policy (ILP) funds are well diversified across the world. Due to the time-zone differences, the market value of some global investments is not available immediately.
All transactions submitted and received by us by 3.00 pm (Singapore time) each day will be executed based on the unit prices of the same business day. For transactions submitted on a non-business day (i.e. Saturday, Sunday or public holiday), the execution will be based on the prices valued for the following business day.
The offer price is used when you buy or top-up your funds.
The bid price is used when you sell units, surrender or switch unit from your funds.
When you buy into a fund, you are actually buying into units of the fund. The fund invests your money by buying into stocks, bonds, alternatives or a combination. The total market value of all the investments in the fund (net of charges) is called the Net Asset Value – NAV.
Fund prices are updated daily.
Currently, the bid-offer spread is 3.50%. This is factored into the offer prices of the funds; e.g. Bid Price of Fund A = 2.000
Offer Price of Fund A = 2.000 × (1 + 3.50%) = 2.070
The offer prices are applied during unit allocation.
For single premium investment and top up, the nominal bid-offer spread is 3.0%. This is implemented by allocating premiums using offer price (still calculated as per bid-offer spread of 3.5%) and automatically adding extra 0.5% bonus units, i.e.
Total Units Allocated = Single / Top-up Premium /Bid Price x (1+3.50%) x (1+0.5%)
100% of the single premium and top-up premium payments will be allocated, together with the extra 0.5% bonus units.
Fees and charges
The current policy fee is set as follows:
|Policy Year||Amount of Policy Fee|
|First Policy Year||$0|
The renewal fee may be waived if net premium exceeds a specified amount, currently $15,000. The net premium is the sum of all premiums paid less withdrawal made less rider premiums deducted.
The policy fee, if applicable, is deducted from the policy at the beginning of each policy year, paid via unit cancellation at bid price.
The amount of policy fee is not guaranteed and will be subjected to revision. Sufficient notice will be given to you before any changes take effect.
The annual management fee is not the same for all ILP funds. The fee for each fund could be found in the Fund Report.
No additional charges will be deducted from your premium. The insurance cover is given to you free.
Partial withdrawal and surrender
Yes, you can make partial withdrawal from your funds at any time provided that the net premium invested is at least $5,000.
Partial withdrawals have the effect of reducing the minimum sum assured and fund value of the policy.
The withdrawal amount is calculated based on bid prices as follows:
Withdrawal Amount = Unit × Price
Yes, the benefits payable for death and total and permanent disability would be adjusted.
Upon cancellation during free look, the lower of follow two values will be returned to you and the policy will terminate.
If the policy document was mailed to you, the 14 days Free-Look period will start seven calendar days after we have mailed the policy document.
Policy loan is not allowed for policies purchased using CPF monies.