All ages mentioned refer to age next birthday.
1. Singlife Whole Life covers death and Terminal Illness for whole of life. Upon diagnosis of Terminal Illness of the Life Assured, Singapore Life Ltd. will pay the Terminal Illness Benefit as an advance payment of the Death Benefit, less any amount owing to Singapore Life Ltd., in one lump sum.
2. Singlife Whole Life’s Base Cover accumulates guaranteed and non-guaranteed cash value from the start of the third policy year, as long as the premiums are paid up to date. The non-guaranteed cash value is accumulated in the form of Reversionary Bonus (declared annually) and Terminal Bonus, and will depend on the performance of Singapore Life Ltd.’s Participating Fund. Please refer to the Product Summary for more details.
3. Singlife Whole Life comprises a Base Cover and an Additional Cover. It offers a choice of 100%, 200%, 300% or 400% of the Base Sum Assured for the Additional Cover of the basic plan. The chosen Additional Cover percentage is also applicable to the Additional Cover of optional riders, such as the Total and Permanent Disability Advance Cover IV, Critical Illness Advance Cover V and Early Critical Illness Advance Cover V, if they are attached to the plan. The Total Sum Assured of this plan is the sum of the Base Sum Assured (Base Cover) and the Additional Sum Assured (Additional Cover). The Additional Cover will start from policy inception and end on the policy anniversary when the Life Assured attains the chosen Additional Cover expiry age of either age 65, 70 or 75 (“Additional Cover period”). Thereafter, the Life Assured will continue to enjoy coverage without Additional Cover. Please refer to the Product Summary for more details.
4. The policyholder may exercise the Guaranteed Extra Protection Option at any of the following key life stage events, without providing evidence of insurability:
(a) the Life Assured marries, divorces or is widowed (i.e. any change of marital status of the Life Assured);
(b) the Life Assured becomes a parent by having a newborn, or legally adopts a child (i.e. adding a new child member to the Life Assured’s immediate family);
(c) the Life Assured or the Life Assured’s child enrols into tertiary education;
(d) the Life Assured enters full-time employment within one year from tertiary graduation; or
(e) the Life Assured purchases a property.
This option allows the policyholder to purchase a new non-participating level term Supplementary Benefit for coverage on death and Terminal Illness with extra premium payable. The total coverage that can be taken up under this option is limited to 100% of Singlife Whole Life’s Base Sum Assured, or up to a maximum of S$500,000 per life, whichever is lower. This option is extended to standard life only. Please refer to the Product Summary for more details.
5. This refers to the Waiver of Interest Benefit for the policyholder aged 19 to 75 who has been retrenched or unemployed and remains involuntarily unemployed for a period of three consecutive months, provided the policy has sufficient cash value to cover the total outstanding premiums. Proof of retrenchment or unemployment is required. Please refer to the Product Summary for more details.
6. The policyholder may exercise the Income Payout Option at each monthly anniversary date starting from (i) the policy anniversary when the Life Assured is age 65 or (ii) the end of the premium payment term, whichever is later. The monthly income will start one month after this option is exercised and it must meet the minimum monthly income requirement. Please refer to the Product Summary for more details.
7. For more details on the riders, please refer to their respective Product Summaries.
8. The surrender value includes guaranteed and non-guaranteed cash value at the point of full surrender. The figure illustrated assumes that all premiums have been fully paid.
