Silver Protect

Silver Protect

Insurance coverage for seniors that protects against early and advanced stage cancers.

What it covers

Early stage cancers

We pay 25% of the sum assured upon diagnosis of an early stage cancer[1]. The sum assured of your policy will not be reduced by the early stage cancer benefit paid.

Advanced stage cancers
We pay 100% of the sum assured upon diagnosis of an advanced stage cancer[2]. If there was no claim made for an early stage cancer benefit, we pay an additional 25% of the sum assured.
Accidental fractures
We pay up to 20% of the sum assured in the event of an accidental fracture[3]. The amount of benefit payable is dependent on the site of the fracture.
Hospice care in the event of terminal cancer
We pay up to 15% of the sum assured for hospice and palliative care[4] in the event of terminal cancer.
Accidental death
We pay 100% of the sum assured[5] in the event of accidental death. If the accidental death was due to a restricted activity, we pay 30% of the sum assured instead.
Non-accidental death
We pay $5,000 in the event of death not due to an accident. If it happens within one year from the cover start date[6] of your policy, we refund 100% of the total premiums paid instead.

Features

Renewal is guaranteed every 10 years. The policy can be renewed up till age 84 (last birthday)[7].
We may provide cover[8] even if you have existing non-cancer related medical conditions.
No medical check-up is required to sign up for Silver Protect.
All future premium payments will be waived[9] upon diagnosis of an advanced stage cancer[2].

Before you apply

The entry age is from 50 to 74 years old (last birthday), with coverage to a maximum age of 84 (last birthday).

You have to make premium payments throughout the policy term. You can make your payments monthly, quarterly, half-yearly, or yearly.

Important Notes

Footnotes

 
  1. Early stage of major cancers benefit
    The definitions for early stage cancers are found in the policy conditions. We will only pay this benefit once. We will not pay it again even if the policy is renewed. A waiting period of 90 days will apply from the date we issue the policy or the date we issue an endorsement to, include or increase a benefit, or the date we reinstate the policy (whichever is the latest). A survival period of 30 days will apply from the date of diagnosis.
     
  2. Advanced stage of major cancers benefit
    The definitions for advanced stage cancers are found in the policy conditions. A waiting period of 90 days will apply from the date we issue the policy or the date we issue an endorsement to, include or increase a benefit, or the date we reinstate the policy (whichever is the latest).. A survival period of 30 days will apply from the date of diagnosis. Once payment for advanced stage of major cancers benefit is made, the early stage of major cancers benefit, and the advanced stage of major cancers benefit will end.
     
  3. Accidental fractures benefit
    We will pay this benefit only if the surgery happens within 30 days of the accident. The benefit terminates once 20% of the sum assured has been claimed. Please refer to the policy contract for further details.
     
  4. A waiting period of 90 days will apply from cover start date. We will pay 15% of the sum assured upon the insured’s successful admission to an inpatient hospice facility. However, if the insured was referred to a home care or day care hospice facility, we will pay 5% of the sum assured. We will pay another 10% of the sum assured if the insured subsequently gets admitted to a hospice. The insured has to be diagnosed with terminal cancer by his attending registered medical practitioner and a referral for hospice care services has to be made by his attending registered medical practitioner. The benefit will terminate after this benefit is claimed in full.
     
  5. Accidental death benefit is payable only if insured’s death happens within 365 days of the accident. If the insured dies during the term of the policy as a result of an accident, we will pay 100% of the sum assured, provided that the insured does not take part in a restricted activity at the time of the accident and the cause of the accidental death must not be excluded.  If the insured is participating in a restricted activity at the time of the accident, this benefit will be reduced to 30% of the sum assured. If the cause of accidental death is excluded and the insured's death happens within one year from the cover start date, 100% of the premium paid will be refunded for this benefit. Otherwise, the death benefit is $5,000. The policy will end when this payment is made. Standard exclusions apply as well. Please refer to the policy contract for further details.
     
  6. Cover start date refers to the date we issue the policy or the date we issue an endorsement to, include or increase a benefit, or the date we reinstate the policy (whichever is the latest). A survival period of 30 days will apply from the date of diagnosis.
     
  7. Guaranteed renewal is applicable only if there is no claim (except that of an early stage of major cancers and accidental fracture) during the contract term. We will renew your policy for the same sum assured and contract term. However, if the policy is renewed on or after the insured’s 65th birthday, we will only renew it up to the anniversary immediately after the insured reaches the age of 84. We will work out the renewal premium based on the policy’s contract term, sum assured and the age of the insured at the time the policy is renewed.
     
  8. This plan is not guaranteed acceptance and is subjected to underwriting. We will not pay any benefits if your claim arises from a material pre-existing condition that was not told to us. Please refer to the policy contract for further details.
     
  9. The policy will end upon death of the insured or at the end of the policy term, whichever is earlier.
 

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 policy conditions. 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 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 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 15 February 2017

Frequently asked questions

How to apply

For enquiries about term life insurance, please call our hotline:
6788 1122

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