SAFRA Essential Term and SAFRA Living Care

SAFRA Essential Term and SAFRA Living Care

Affordable insurance for SAFRA members that provides coverage for death, permanent disability and more.

What it covers

Death

We pay the sum assured in the event of death.

Death due to an accident (for SAFRA Essential Term only)

In the event of death due to an accident, we pay an additional 25% of the sum assured.

Total and permanent disability before the age of 65

We pay the sum assured in the event of total and permanent disability. In addition, for SAFRA Essential Term only, we pay a further monthly payout of 1% of the sum assured for the next 24 months or until the insured reaches the age of 65 or until the insured dies, whichever is earliest.

Partial and permanent disability due to an accident [1] before the age of 65 (for SAFRA Essential Term only)

We pay a percentage of the sum assured described in the table of compensation.

30 critical illnesses (for SAFRA Living Care only)

We pay the sum assured upon diagnosis of a critical illness [2] including major cancers, heart attack of specified severity and stroke. For angioplasty and other invasive treatment for coronary artery, payment is limited to 10% of the sum assured, subject to a maximum of $25,000.

Hospital cash benefit [3] (for SAFRA Living Care only)

We pay a daily hospital cash benefit of $10 for every $10,000 of the sum assured for up to 365 days for each period of hospital stay in Singapore.

Before you apply

You, your husband or wife and children [4] must be SAFRA members and a Singaporean, Singapore Permanent Resident or foreigner who is working or residing in Singapore to apply for cover under this plan.

SAFRA Essential Term

  Minimum entry age Maximum entry age Maximum age of coverage
SAFRA member and husband or wife 16 years old 60 years old 70 years old
Child 5 years old 15 years old 21 years old

You can choose your sum assured in multiples of $10,000. The maximum sum assured for you and your husband or wife is $300,000 each (up to age 65) and $150,000 each (age 66 to 70). The maximum assured for your child is $300,000.

You can pay your premium either on a monthly or yearly basis and it will be deducted via your GIRO account with us. The premiums that you pay are based on the sum assured and insured’s age next birthday. Premium rates will change when the insured enters a higher age band. Premium rates are not guaranteed and may be reviewed from time to time.

Age next birthday (years) Monthly premium for sum assured
$10,000 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000
6 to 17 $0.80 $4.00 $8.00 $12.00 $16.00 $20.00 $24.00
18 to 30 $1.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00
31 to 45 $1.10 $5.50 $11.00 $16.50 $22.00 $27.50 $33.00
46 to 55 $1.80 $9.00 $18.00 $27.00 $36.00 $45.00 $54.00
56 to 60 $2.50 $12.50 $25.00 $37.50 $50.00 $62.50 $75.00
61 to 65 $3.50 $17.50 $35.00 $52.50 $70.00 $87.50 $105.00
66 to 70 $10.40 $52.00 $104.00 $156.00 - - -
Age next birthday (years) Yearly premium for sum assured
$10,000 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000
6 to 17 $9.20 $46.00 $92.00 $138.00 $184.00 $230.00 $276.00
18 to 30 $11.50 $57.50 $115.00 $172.50 $230.00 $287.50 $345.00
31 to 45 $12.70 $63.50 $127.00 $190.50 $254.00 $317.50 $381.00
46 to 55 $20.80 $104.00 $208.00 $312.00 $416.00 $520.00 $624.00
56 to 60 $28.80 $144.00 $288.00 $432.00 $576.00 $720.00 $864.00
61 to 65 $40.40 $202.00 $404.00 $606.00 $808.00 $1,010.00 $1,212.00
66 to 70 $120.00 $600.00 $1,200.00 $1,800.00 - - -

SAFRA Living Care

  Minimum entry age Maximum entry age Maximum age of coverage
SAFRA member and husband or wife 16 years old 55 years old 70 years old
Child 5 years old 15 years old 21 years old

You can choose your sum assured in multiples of $10,000. The maximum sum assured for you and your husband or wife is $200,000 each (up to age 65) and $100,000 each (age 66 to 70). The maximum sum assured for your child is $200,000.

You can pay your premium either on a monthly or yearly basis and it will be deducted via your GIRO account with us. The premiums that you pay are based on the sum assured and insured’s age next birthday. Premium rates will change when the insured enters a higher age band. Premium rates are not guaranteed and may be reviewed from time to time.

Age at next birthday (years) Monthly premium for sum assured
$10,000 $50,000 $100,000 $150,000 $200,000
6 to 17 $1.80 $9.00 $18.00 $27.00 $36.00
18 to 30 $2.00 $10.00 $20.00 $30.00 $40.00
31 to 45 $2.10 $10.50 $21.00 $31.50 $42.00
46 to 50 $4.20 $21.00 $42.00 $63.00 $84.00
51 to 55 $5.10 $25.50 $51.00 $76.50 $102.00
56 to 60 $8.00 $40.00 $80.00 $120.00 $160.00
61 to 65 $18.40 $92.00 $184.00 $276.00 $368.00
66 to 70 $38.00 $190.00 $380.00 - -
Age at next birthday (years) Yearly premium for sum assured
$10,000 $50,000 $100,000 $150,000 $200,000
6 to 17 $20.80 $104.00 $208.00 $312.00 $416.00
18 to 30 $23.10 $115.50 $231.00 $346.50 $462.00
31 to 45 $24.20 $121.00 $242.00 $363.00 $484.00
46 to 50 $48.50 $242.50 $485.00 $727.50 $970.00
51 to 55 $58.80 $294.00 $588.00 $882.00 $1,176.00
56 to 60 $92.30 $461.50 $923.00 $1,384.50 $1,846.00
61 to 65 $212.30 $1,061.50 $2,123.00 $3,184.50 $4,246.00
66 to 70 $438.40 $2,192.00 $4,384.00 - -
Important Notes

Footnotes

 
  1. Partial and permanent disability must happen within 90 days from the date of the accident.
  2. A survival period of 30 days from the date the insured is diagnosed with the critical illness will apply. For major cancer, coronary artery bypass surgery, heart attack of specified severity and angioplasty and other invasive treatment for coronary artery, a waiting period of 90 days from the start date or reinstatement date (if any) of the insured’s cover, whichever is later will apply. For the other remaining critical illnesses, a waiting period of 30 days from the start date or reinstatement date (if any) of the insured’s cover, whichever is later will apply.
  3. Each stay in the hospital must be for at least six hours in a row unless the insured’s stay in the hospital is for a surgical operation, or the hospital bills for daily room and board charges. A waiting period of 30 days from the start date or reinstatement date of the insured’s cover, whichever is later will apply.
  4. Your husband or wife and children who are SAFRA members will be eligible for the application of coverage only if you, as the insured and Principal member of SAFRA, are covered under the same type of SAFRA plan. The sum assured for your husband or wife and children should not exceed your sum assured unless your sum assured has been reduced by NTUC Income due to underwriting reasons. If you end your policy, the cover for your husband or wife and children will end. The cover for your husband or wife will also end if you are separated or divorced from your husband or wife.

Exclusions

 

There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.

Important Notes

 

This page is for general information only. You can find the usual terms and conditions of this plan in the master policy contract issued to SAFRA. The cover for this plan will automatically end upon the termination of the master policy by either NTUC Income or SAFRA. All our products are developed to benefit our customers but not all may be suitable for your specific needs. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance adviser. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. This plan does not have any cash value.
This plan is underwritten by NTUC Income.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact NTUC Income or visit the websites of the General Insurance Association of Singapore (www.gia.org.sg), the Life Insurance Association, Singapore (www.lia.org.sg) or Singapore Deposit Insurance Corporation (www.sdic.org.sg).
 

Information is correct as of 16 January 2017

Frequently asked questions

How to apply

For enquiries about life insurance, please call our hotline:
6332 1133

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