Singapore Whole Life Insurance
Product Summary - Whole Life Insurance without profit
1. Plan Description
This is a non.participating whole life policy with premiums payable as long
as the Life Assured is alive, but ceasing to be payable if he
lives up to the policy anniversary immediately before he reaches age 87.
2. Benefits
2.1 Death Benefit
The sum assured will be payable upon death.
2.2 Total and Permanent Disability Benefits
(subject to a maximum Sum Assured of S$2,000,000 on any one life)
In the event of total and permanent disability before the policy anniversary
on which the life assured is aged 60 next birthday, all future
premiums will be waived and the Company will pay 10% of the death benefit
annually for the 1st to the 4th year of the disablement and
60% of the death benefit on the 5th year of disablement. In the event of death
of the Life Assured before the payment of the 5th and final
annual instalment, the instalments remaining unpaid will be payable in one
lump sum. No benefit will be payable for any disability which
happens before the Life Assured has reached the age of 6 years.
3. Premium Rates Guaranteed
Please note that premium rates for Whole Life Without Profit are guaranteed.
4. Exclusions
4.1 Death Benefit
If the Life Assured dies by suicide, while sane or insane, within one year
from the date of issue of this policy or from the date of
reinstatement, whichever is later, this Policy will be rendered void.
4.2 TPD Benefit
Waiver of premiums and annual payments will not be made for TPD resulting
from:
(a) self.inflicted injury, while sane or insane;
(b) bodily injury sustained while in or on an aircraft other than
(i) as a fare.paying passenger or a crew member on an aircraft licensed for
passenger service and operated by a
regular airline on a scheduled route or
(ii) as a member of the armed forces travelling as a passenger in a military
transport aircraft; or
(c) any physical or health impairment or disease which existed but was not
disclosed to the Company at the date of issue of the Policy or
at the date of any reinstatement.
Note: This summary is meant for general information only. It does not serve
as an insurance contract. The precise terms and
conditions of this insurance plan are specified in the policy.
