VivoCash

VivoCash

Lifetime insurance coverage that provides yearly cash payouts whilst protecting against death and total and permanent disability.

What it covers

Lifetime yearly cash payouts

From the end of the 5th policy year, you will receive a yearly cash payout which consists of a guaranteed yearly cash benefit [1] (that is 2% of your sum assured), and a non-guaranteed yearly cash bonus [1] (of up to 2.25% of the sum assured), till age 100. You can choose to spend it as you wish or accumulate it with us at an interest rate of up to 3.5% p.a. [2]

Special cash benefits

A guaranteed special cash benefit equivalent to 4% of the sum assured will be paid out at the end of the 20th and 30th policy year. The special cash benefit is paid on top of the yearly cash payout.

Centennial maturity benefit at age 100

You will also receive a centennial maturity benefit [3] of 120% of all net premiums paid, on top of your cash payouts, at the point of policy maturity when the insured reaches a 100 years old.

Death and total and permanent disability during the first 5 policy years

We pay 105% of all net premiums paid (excluding premiums paid on the riders) and a terminal bonus [4] in the event of death or total and permanent disability (TPD before age 70).

Death and total and permanent disability after the first 5 policy years

We pay 120% of all net premiums paid (excluding premiums paid on the riders) and a terminal bonus [4] in the event of death or total and permanent disability (TPD before age 70).

Accidental death and total and permanent disability

Receive an additional 100% of the sum assured  if death or total and permanent disability is due to an accident. If the accident happened during a restricted activity, this benefit will be reduced to 60% of the sum assured.

Features

Your policy will be accepted regardless of your health condition.

If the insured experiences any specified life event [5], the insured has the option to buy another life policy (which covers death and total and permanent disability) without reassessment of health.

We will pay a one-time benefit equivalent to one yearly cash benefit, of 2% of sum assured, if you get retrenched and are not able to find employment for 3 months. This benefit can only be used once, after you have paid premiums for at least 6 months [6].
This policy will share in the profits and losses of the Life Participating Fund [4].
Enjoy a wide range of exclusive treats which are specially curated for you.

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Enhance your coverage

Cancer Premium Waiver (GIO)
We waive future premium payments in the event of the diagnosis of a major cancer[7] during the term of the rider.

Before you apply

  Minimum entry age (last birthday) Maximum entry age (last birthday)
Insured 0 65
Policyholder 10 N.A.

You can choose to pay your premiums for 5, 10, 15 or 20 years.

You can make your payments monthly, quarterly, half-yearly, or yearly.

Important Notes

Footnotes

 
  1. If the insured survives at the end of the 5th policy year, you will start to receive yearly cash payouts starting from the end of the 5th policy year till age 100 if you have paid the premiums for at least 5 years. The yearly cash payouts consist of the guaranteed yearly cash benefits and the non-guaranteed yearly cash bonuses. The guaranteed yearly cash benefit is 2% of your sum assured, while your non-guaranteed yearly cash bonus is up to 2.25% of your sum assured. The non-guaranteed yearly cash bonus may vary according to the future performance of the Life Participating Fund. You will continue to receive your yearly cash payouts at subsequent policy years if the insured is still alive and the policy has not ended.
  2. Interest rate of 3.5% per annum is not guaranteed. Prevailing interest rate at the point of deposit will be determined by Income.
  3. If the insured survives at the end of the policy term, which is the anniversary immediately after the insured’s 100th birthday, and the policy has not already ended, the policy will pay 120% of all net premiums paid and a non-guaranteed terminal bonus (“centennial maturity benefit”).
  4. Bonus rates are not guaranteed and the benefits payable will vary according to the future performance of the Life Participating Fund.
  5. The insured has the option to buy another new life policy (which covers death and total and permanent disability) without reassessment of health within 3 months from the date of the defined life event if the insured has met the full conditions for the application of the new life policy. The insured can take up this option no more than two times, on two different life events. The insured must not be totally and permanently disabled, or be diagnosed with an advanced-stage dread disease at the time of taking up this option. We will limit the sum assured for the new life policy to 50% of the sum assured for the VivoCash policy, or $100,000, whichever is lower. Please refer to the policy contract for further details on the life events and conditions required.
  6. VivoCash policy must be valid and in force for at least six months from the date of issue of the policy or the date of issue of an endorsement to include or increase a benefit or date of reinstatement of the policy, whichever is the latest, with at least six months of premiums paid. You cannot accumulate this benefit to earn interest. You can only receive it as a payout. This retrenchment benefit can only be claimed once.
  7. This is applicable only after one year from the cover start date. Cover start date refers to the date we issue the rider, include or increase any benefit, or reinstate the rider (whichever is latest). However, if the insured is diagnosed with any one of the major cancers within one year from the cover start date, we will end this rider and refund 100% of the premiums paid on this rider. You will then have to continue paying premiums for your policy. The insured must survive for at least 30 days from the date of diagnosis before we pay this benefit. You can find the full list of our specified major cancers and their definitions in your policy contract.

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.

General notice
This page is for general information only. You can find the usual terms and conditions of this plan in the policy conditions for VivoCash. 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. Buying a life insurance plan is a long-term commitment on your part. If you cancel your plan prematurely, the cash value you receive can be substantially less than the premiums you have paid for the plan.

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 13 June 2017

Frequently asked questions

How to apply

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

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