4 Types of Insurance Singaporeans Need and Why You Need Them

¹ This plan does not cover infectious disease diagnosed within 14 days from the policy start date as well as any infectious disease which has been announced as:
(a) an epidemic by the health authority in Singapore or the Government of the Republic of Singapore; or
(b) a pandemic by the World Health Organisation (WHO),
in the affected countries, from the date of such announcement until the epidemic or pandemic ends.

² Couple plan covers 2 married adults only.

³ The policy will be renewed as long as:
- the eligibility requirements are met
- claims have not reached the lifetime limit allowed for the respective plans
- the full sum insured under the final expenses or permanent disability benefits have not been claimed.

⁴ Adventurous activity means any recreational activity which:
-the insured person has undertaken while complying with all safety procedures, such as wearing safety equipment and following rules and regulations, whether specifically advised or generally expected of a reasonable person, and
-where guidance and supervision of licensed guides or instructors are available, the recreational activity must be carried out under the guidance and supervision of licensed guides or instructors of the tour operator or activity provider, and
-is not excluded under the general exclusions listed in part 2 of the general conditions of the policy.

Adventurous activity includes but is not limited to hiking, mountain climbing, scuba-diving, bungee jumping, parasailing, paragliding, parachuting, hang-gliding, skydiving, abseiling, skiing, snowboarding, canoeing, kayaking, white water rafting, dragon boating, paddleboarding, marathon, ultramarathon, biathlon, triathlon, surfing, and snorkeling.

⁵ PA Fitness Protect covers medical expenses due to accidents during the sport, exercise or adventurous activity.

⁶ If the policyholder has chosen Protect 100, Income Insurance will pay the early and/or intermediate stage dread disease under the Dread Disease Benefit, subject to the following:
- Dread Disease Benefit has not ceased at the time of any payment of the benefit;
- the insured survives at least 7 days after the date of diagnosis or date of surgery performed for a dread disease covered under this benefit, whichever is later;
- maximum of 1 claim for either the early stage dread disease or intermediate stage dread disease may be approved;
- Vital Function Benefit of the corresponding dread disease, which the same early and/or intermediate stage dread disease belongs to has not been claimed;
- if more than one dread disease covered under the Dread Disease Benefit and/or impairments of the vital functions are diagnosed on the same date, Income Insurance will only approve one claim with the highest possible benefit payout regardless of the number of dread diseases and/or impairments of the vital functions that are diagnosed; and
- the amount Income Insurance will pay for the early and/or intermediate stage dread disease of the same dread disease under this benefit will not be more than a total of $350,000 for each insured, including all policies Income Insurance has issued and paid for the same insured.

If the policyholder has chosen Protect 100, Income Insurance will pay the advanced stage dread disease under the Dread Disease Benefit, subject to the following:
- Dread Disease Benefit has not ceased at the time of any payment of the benefit;
- the insured survives at least 7 days after the date of diagnosis or date of surgery performed for a dread disease covered under this benefit, whichever is later;
- maximum of 1 claim for the advanced stage dread disease may be approved; and
- if more than one dread disease covered under the Dread Disease Benefit and/or impairments of the vital functions are diagnosed on the same date, Income Insurance will only approve one claim with the highest possible benefit payout regardless of the number of dread diseases and/or impairments of the vital functions that are diagnosed.
If the policyholder has chosen Protect 100, the Dread Disease Benefit will end once the total amount Income Insurance has paid under Dread Disease Benefit and Vital Function Benefit reaches 100% of the sum assured.

If the policyholder has chosen Protect 100, Income Insurance will not pay this benefit:
- if the insured suffered symptoms of, was investigated for, or was diagnosed with an early and/or intermediate stage dread disease under major cancer, heart attack of specified severity, other serious coronary artery disease, or coronary artery bypass surgery any time before or within 90 days from the cover start date, whichever is earliest; or
- if the insured was diagnosed with an advanced stage dread disease under major cancer, heart attack of specified severity, coronary artery by-pass surgery or other serious coronary artery disease within 90 days from the cover start date, whichever is earliest.

For coronary artery by-pass surgery, the date of diagnosis will be the date the medical condition that leads to the surgery is diagnosed, and not the date of the surgery.

If the policyholder has chosen Protect Max, Income Insurance will pay the early and/or intermediate stage dread disease under the Dread Disease Benefit, subject to the following:
- Dread Disease Benefit has not ceased at the time of any payment of the benefit;
- the insured survives at least 7 days after the date of diagnosis or date of surgery performed for a dread disease covered under this benefit, whichever is later;
- no claim has been approved for advanced stage of the same dread disease;
- maximum of 1 claim for either the early stage dread disease or intermediate stage dread disease of the same dread disease may be approved;
- maximum of 6 claims for the early stage and/or intermediate stage dread disease may be approved;
- Vital Function Benefit of the corresponding dread disease, which the same early and/or intermediate stage dread disease belongs to has not been claimed;
- if more than one dread disease covered under the Dread Disease Benefit and/or recurrent condition and/or impairments of vital function are diagnosed on the same date, Income Insurance will only approve one claim with the highest possible benefit payout regardless of the number of dread diseases and/or recurrent condition and/or impairments of the vital functions that are diagnosed;
- the amount Income Insurance will pay for the early and/or intermediate stage dread disease of the same dread disease under this benefit will not be more than a total of $350,000 for each insured, including all policies Income Insurance has issued and paid for the same insured; and
- the amount Income Insurance will pay for the early and/or intermediate stage dread disease under this benefit will not be more than a total of $1.05 million for each insured, including all policies Income Insurance has issued and paid for the same insured.

If the policyholder has chosen Protect Max, Income Insurance will pay the advanced stage dread disease under the Dread Disease Benefit, subject to the following:
- Dread Disease Benefit has not ceased at the time of any payment of the benefit;
- the insured survives at least 7 days after the date of diagnosis or date of surgery performed for a dread disease covered under this benefit, whichever is later;

- only 1 claim is allowed for the advanced stage of each dread disease;
- if more than one dread disease covered under the Dread Disease Benefit and/or recurrent condition and/or impairments of vital function are diagnosed on the same date, Income Insurance will only approve one claim with the highest possible benefit payout regardless of the number of dread diseases and/or recurrent condition and/or impairments of the vital functions that are diagnosed; and
- for terminal illness (advanced stage) and loss of independent existence (advanced stage), the amount payable will be determined after deducting any claims paid under the Dread Disease Benefit and Vital Function Benefit. If the total claims paid under the Dread Disease Benefit and Vital Function Benefit have reached 200% of the sum assured or more, no benefit will be payable for future claims under terminal illness (advanced stage) and loss of independent existence (advanced stage).

If the policyholder has chosen Protect Max, the Dread Disease Benefit will end once the total amount Income Insurance has paid under Dread Disease Benefit, Recurrent Benefit and Vital Function Benefit reaches 1000% of the sum assured.

If the policyholder has chosen Protect Max, Income Insurance will not pay this benefit:
- if a claim arises from any early, intermediate or advanced stage dread disease which occurs within 12 months from the date of diagnosis or date of surgery performed, whichever is later, of the latest claim approved under the Dread Disease Benefit for another dread disease, Recurrent Benefit or Vital Function Benefit;
- if the insured suffered symptoms of, was investigated for, or was diagnosed with an early and/or intermediate stage dread disease under major cancer, heart attack of specified severity, other serious coronary artery disease, or coronary artery by-pass surgery any time before or within 90 days from the cover start date, whichever is earliest; or
- if the insured was diagnosed with an advanced stage dread disease under major cancer, heart attack of specified severity, coronary artery by-pass surgery or other serious coronary artery disease within 90 days from the cover start date, whichever is earliest.
For coronary artery by-pass surgery, the date of diagnosis will be the date the medical condition that leads to the surgery is diagnosed, and not the date of the surgery.
The policy will continue even if this benefit ends.

⁷ If the policyholder has chosen Protect Max, the total Income Insurance will pay under the following benefits:
- Dread Disease Benefit;
- Recurrent Benefit; and
- Vital Function Benefit,
are aggregated and will not be more than 1000% of the sum assured, less any amount the policyholder owes Income Insurance.

If the insured is also covered by Dread Disease Benefit, Recurrent Benefit and Vital Function Benefit (or equivalent benefits) under any policies which have been issued and paid (whether issued and paid by Income Insurance or by any other insurer), the total of these benefits under all these policies cannot be more than $3.6 million (including premiums waived due to dread disease but excluding bonuses). In this case, Income Insurance will first take into account the amounts due under the earlier policies and then pay out only an amount to bring the total payments to $3.6 million (including premiums waived due to dread disease but excluding bonuses).

⁸ If the policyholder has chosen Protect 100, the total Income Insurance will pay under the following benefits:
- Dread Disease Benefit; and
- Vital Function Benefit,
are aggregated and will not be more than 100% of the sum assured, less any amount the policyholder owes Income Insurance.

If the insured is also covered by Dread Disease Benefit, Recurrent Benefit and Vital Function Benefit (or equivalent benefits) under any policies which have been issued and paid (whether issued and paid by Income Insurance or by any other insurer), the total of these benefits under all these policies cannot be more than $3.6 million (including premiums waived due to dread disease but excluding bonuses). In this case, Income Insurance will first take into account the amounts due under the earlier policies and then pay out only an amount to bring the total payments to $3.6 million (including premiums waived due to dread disease but excluding bonuses).

⁹ If the policyholder has chosen Protect Max, the total Income Insurance will pay under the following benefits:
- Dread Disease Benefit;
- Recurrent Benefit; and
- Vital Function Benefit,
are aggregated and will not be more than 1000% of the sum assured, less any amount the policyholder owes Income Insurance.

If the insured is also covered by Dread Disease Benefit, Recurrent Benefit and Vital Function Benefit (or equivalent benefits) under any policies which have been issued and paid (whether issued and paid by Income Insurance or by any other insurer), the total of these benefits under all these policies cannot be more than $3.6 million (including premiums waived due to dread disease but excluding bonuses). In this case, Income Insurance will first take into account the amounts due under the earlier policies and then pay out only an amount to bring the total payments to $3.6 million (including premiums waived due to dread disease but excluding bonuses).

¹⁰ The Recurrent Benefit is only applicable if the policyholder has chosen Protect Max. Income Insurance will pay the Recurrent Benefit, less any amount the policyholder owes Income Insurance, as long as the following conditions are met:
- Recurrent Benefit has not ceased at the time of any payment of the benefit;
- the insured survives at least 7 days after the date of diagnosis or date of surgery performed for a dread disease covered under this benefit, whichever is later;
- if more than one dread disease covered under the Dread Disease Benefit and/or recurrent condition and/or impairments of vital function are diagnosed on the same date, Income Insurance will only approve one claim with the highest possible benefit payout regardless of the number of dread diseases and/or recurrent condition and/or impairments of the vital functions that are diagnosed; and
- maximum of 3 claims may be approved under this benefit.

This benefit will end once:
- 300% of the sum assured has been fully paid out under this benefit; or
- the total amount Income Insurance has paid under Dread Disease Benefit, Recurrent Benefit and Vital Function Benefit reaches 1000% of the sum assured,

whichever is earlier.

Income Insurance will not pay this benefit:
- if your claim arises from any recurrent condition covered under this benefit occurring within 24 months from the date of diagnosis or date of surgery performed, whichever is later, of the latest claim approved under the Dread Disease Benefit, Recurrent Benefit or Vital Function Benefit; or
- if the insured was diagnosed with persistent major cancer, recurrent heart attack of specified severity or repeated coronary artery by-pass surgery within 90 days from the cover start date. For repeated coronary artery by-pass surgery, the date of diagnosis will be the date the medical condition that leads to the surgery is diagnosed, and not the date of the surgery.

The policy will continue even if this benefit ends.

¹¹ Upon diagnosis of the insured with an advanced stage dread disease covered under Dread Disease Benefit or an impairment covered under Vital Function Benefit, a new term policy covering the insured may be taken up with only death and terminal illness benefits, without Income Insurance having to assess the insured’s health. Total and permanent disability will not be covered by the new term policy. The waiting period for the new term policy is 2 years. If the event giving rise to a claim occurs during the 2 years waiting period, Income Insurance will refund 100% of the premiums paid for the new term policy. The new term policy does not allow any reinstatement.

The sum assured for the new term policy will be limited to:
- 100% of the original sum assured for this policy; or
- $200,000 per life aggregating policies issued under the Guaranteed Post-DD Cover Option,
whichever is lower.

Income Insurance will decide the type of new term policy to be offered, and the insured must meet all the following conditions to take up this option:
- this option must be exercised within 6 months from the claim approval date or diagnosis date, whichever is later, of the advanced stage dread disease covered under Dread Disease Benefit or impairment covered under Vital Function Benefit;
- the insured must not have terminal illness at the time of taking up this option;
- the insured must be 60 years old last birthday or under at the time of taking up this option; and
- the relevant documents must be provided to support the diagnosis of advanced stage dread disease covered under Dread Disease Benefit or impairment covered under Vital Function Benefit.

¹² Income will pay the Premium Waiver Benefit according to your selected option under the Major Cancer Benefit.
- If the policyholder selected Care 50, upon diagnosis of early or intermediate stage major cancer, Income will waive the premiums up to 60 months or end of policy term, whichever is earlier, and the policyholder will have to pay premiums thereafter. This benefit for early or intermediate stage major cancer can only be claimed once. Income will waive the premiums until the end of policy term upon diagnosis of advanced stage major cancer.
- If the policyholder selected Care 100, Income will waive the premiums until the end of policy term upon diagnosis of any stage of major cancer.
The premium waiver will start from the policy month immediately after the diagnosis date of the major cancer. The policy will continue to apply for the remaining unclaimed benefits during this premium waiver period even though the policyholder is not paying the premiums. Income will not pay this benefit if the insured suffered symptoms of, had investigations for, or was diagnosed with, any stage of major cancer any time before or within 90 days from the cover start date.

¹³ Income will pay a Monthly Cancer Therapy Benefit as long as the insured is diagnosed with major cancer by a specialist and recommended in writing that the treatment is a necessary medical treatment for cancer according to relevant guidelines from Ministry of Health (MOH) and has started cancer treatment as advised by a specialist. Income will make the first payment starting from the policy month immediately after the cancer treatment start date. For more details on the types of cancer treatment, please refer to the policy conditions. The maximum amount Income will pay for this benefit is $60,000 per life. Income will not pay more than a total number of 12 payouts for early or intermediate stage major cancer. If the insured has already received payouts during early stage, there will not be further payouts during intermediate stage. The sum of the total number of payouts for this benefit will not exceed 24 payouts. The number of payouts for the advanced stage major cancer will be 24 less the number of payouts Income have paid for the early or intermediate stage major cancer under this benefit. Income will not pay this benefit if the insured suffered symptoms of, had investigations for, or was diagnosed with, any stage of major cancer any time before or within 90 days from the cover start date. Please refer to the policy conditions for further details.

¹⁴ Upon diagnosis with advanced stage major cancer, the insured may choose to take up a new term policy with only death, terminal illness and total and permanent disability (TPD) benefits on the insured own life, without Income having to assess their health. The waiting period of the new term policy is 2 years. If the insured makes a claim on the new term policy during the 2 years of waiting period, Income will refund 100% of the premiums paid on the term policy issued under this option.
The sum assured for the new term policy will be limited to:
- 100% of the sum assured for this policy; or
- $200,000 per life
aggregating policies issued under the guaranteed post-cancer cover option, whichever is lower.
Income will decide the type of new policy to be offered and the insured must meet all the following conditions to take up this option:
- The insured must take up this option within 6 months from the date of claim admittance of the advanced stage major cancer benefit.
- The insured must not be totally and permanently disabled, terminally ill or be diagnosed with an advanced-stage dread disease other than major cancer, at the time of taking up this option.
- The insured must be 60 years old last birthday or under at the time of taking up this option.