However, should Darren pass away at age 75, the policy would have paid out $173,7924,6 and the policy terminates thereafter. The policy would have provided an illustrated total benefit of $465,5634 which is 3.10 times of the premiums paid.
The above figures are for illustrative purposes only and are rounded to the nearest dollar.
The non-guaranteed figures above are based on the assumption that the Life Participating
Fund earns a long-term average return of 4.25% per annum.
Should the long-term average return be 3.00% per annum, the illustrated yearly cash payout3 would be $3,0607 and the
illustrated yearly cash payout with loyalty bonus would be $3,2393,7. Should Darren pass away at age 75, the policy would
have paid out $172,7216,7 and the policy would have provided an illustrated total benefit of $360,2427.
If Darren survives to the end of the policy term, the maturity benefit5 would be $173,6427 and the policy would
have paid out an illustrated total benefit of $367,6417.
1Only you as the policyholder (before the age of 65 years old), your spouse (before the age of 65 years old), or your child/ward (before the age of 18 years old) can be
the secondary insured at the time you exercise this option. You can exercise this option to appoint a secondary insured no more than three times. Terms apply for the benefit.
Please refer to the policy contract for further details.
2At the end of the premium term, if the policyholder did not cash in this policy and all premiums for this policy have been paid for, the guaranteed cash value for this
policy is equal to total premiums paid, excluding premiums paid on riders. If the policyholder chooses to cash in this policy partially, the sum assured after the partial cash
payout cannot be less than the minimum sum assured limit or any other amount Income may tell the policyholder about. Income will use the new sum assured and reduced regular premium
amount excluding premiums paid on riders to work out the guaranteed cash value (if any) from the policy entry date.
3If the insured survives at the end of the premium term, and if all premiums for this policy have been paid for, Income will start paying the cash benefit at the end of
the premium term. Income may pay a cash bonus on top of each cash benefit, by applying a bonus rate to the sum assured, and may include any loyalty bonus payable from the end
of 20thpolicy year after the end of premium term. Income may or may not pay this cash bonus for each policy year. Each yearly cash benefit is 2% of the sum assured
and the non-guaranteed cash bonus without loyalty bonus is 7.3% of your sum assured and with loyalty bonus is 7.9% of your sum assured (based on the assumption that the Life Participating
Fund earns a long-term average return of 4.25% per annum). At an illustrated investment rate of return of 3.00% per annum, the non-guaranteed cash bonus without loyalty bonus
is 4% of your sum assured and with loyalty bonus is 4.35% of your sum assured.
If the sum assured of the policy is at least $80,000, the yearly cash payouts can be received in monthly payments. Please refer to the policy contract for further details.
4The figures in the illustration are not guaranteed and are illustrated based on the assumption that the Life Participating Fund earns a long-term average return of 4.25%
per annum in the future. Returns are illustrated based on estimated bonus rates that are not guaranteed. The actual benefit payable will vary according to the future performance
of the Life Participating Fund. If cash benefits and cash bonuses are accumulated with us, the interest rate will be based on 3.00% per annum and it is not guaranteed.
5If the insured survives at the end of the policy term and the policy has not already ended, the policy will pay the cash value. Income will also pay any cash benefits
and cash bonuses which have built up.
6If the insured becomes terminally ill or dies during the term of this policy, Income will pay the sum of:
- The higher of:
- 105% of all net premium(s) paid excluding premiums paid on riders; or
- the guaranteed portion of the cash value,
and
- A terminal bonus.
Income will pay the cash value if it is higher than the sum calculated above and any cash benefits and cash bonuses which have built up, including any interest earned until then.
The policy terminates thereafter.
7The figures in the illustration are not guaranteed and are illustrated based on the assumption that the Life Participating Fund earns a long-term average return of 3.00%
per annum in the future. Returns are illustrated based on estimated bonus rates that are not guaranteed. The actual benefit payable will vary according to the future performance
of the Life Participating Fund. If cash benefits and cash bonuses are accumulated with us, the interest rate will be based on 1.50% per annum and it is not guaranteed.
© 2023 Income. All rights reserved.
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