Singapore Endowment Saving Insurance
Product Summary - Endowment with cash bonus (a.k.a. Annual Cashback Endowment)
1. Plan Description
This is a regular premium endowment plan with reversionary bonus and terminal
bonus. This plan provides cover against death and
Total and Permanent Disability (TPD). It also provides annual survival benefits
commencing at the end of the second policy
anniversary and maturity benefit at the end of policy term. Premiums are payable
until the end of policy term, death or TPD
whichever occurs the earliest within the policy term.
2. Benefits
2.1 Death Benefit
The sum assured together with the attaching bonus, if any, will be payable upon
death.
2.2 Total and Permanent Disability (TPD) Benefits before age 65 next birthday
(subject to a maximum Sum Assured of S$2,000,000 on any one life)
For TPD before the policy anniversary on which the Life Assured's age is 65
next birthday, all future premiums will be waived from
the next policy anniversary following the date of TPD and the death benefit
will be payable in 3 annual instalments of 10%, 10%
and 80%. If death of the Life Assured or maturity occurs before the payment
of the last instalment, the remaining instalment(s) will
be paid in one lump sum. The death benefit will be payable in one lump sum if
TPD is caused by:
(a) total and irrecoverable loss of the sight in both eyes;
(b) total and irrecoverable loss of the use of two limbs at or above the wrist
or ankle; or
(c) total and irrecoverable loss of the sight in one eye and total and irrecoverable
loss of the use of one limb at or above the wrist or
ankle.
If TPD happens before age of 1 year or is caused by (a), (b) or (c) above before
age of 1 year, 20% of the death benefit will be
payable in one lump sum and the policy will terminate.
2.3 Survival Benefit (a.k.a cash bonus)
On Survival: Survival Benefit is payable according to the following schedule.
| Policy Term | End of Policy Year | % of Sum Assured Payable |
| 18 | 2 - 9 | 5% |
| 10 - 17 | 6% | |
| 21 | 2 - 9 | 5% |
| 10 - 20 | 6% | |
| 25 | 2 - 9 | 5% |
| 10 - 24 | 6% |
indebtedness will be set off against that Survival Benefit and only the balance will be paid.
2.4 Maturity Benefit
On Maturity: Maturity Benefit according to the following schedule, plus attaching bonus, if any, will be payable at the end of the
| Policy Term | % of Sum Assured Payable |
| 18 | 32% |
| 21 | 24% |
| 25 | 10% |
3. Premium Rates Guaranteed
Please note that premium rates for Annual Cash Back Endowment (ACE) 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.
