conditions for primeshield - ntuc income€¦ · cancel the policy. this will depend on, clause 3c...

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Conditions for PrimeShield

Your policy

This is your PrimeShield policy. It is made up of: • these conditions;• the policy schedule; and• the application form.

These documents, any future endorsements that we issue, all health declaration forms and supporting documents which you sent to us for our underwriting purposes and all correspondence relating to your policy between you and us form the entire agreement between you and us.

We refer to them all together as ‘Your policy’. Please examine them to make sure you have the protection you need. It is important that you read them together to avoid misunderstanding.

Words defined in the definitions section of these conditions have the meanings given to them. The same definitions apply if the defined words are used in any of the documents in your policy or any correspondence between you and us.

PrimeShield is an insurance plan which pays you a monthly sum if you become severely disabled. It is designed to complement Basic ElderShield and provides extra benefits to meet the needs of those who would like more comprehensive cover. Details of what we will pay are set out in your policy.

1 What your policy covers

Your policy covers the following benefits.

a Lump-sum benefit

If you become severely disabled, we pay the lump-sum benefit shown in the policy schedule as a one-time payment. We will pay the lump-sum benefit immediately after the deferment period.

If you recover from the severe disability after we have paid this benefit but then become severely disabled again, you are not entitled to this benefit again.

GH/PrimeShield/201407

Important: This is a sample of the policy document. To determine the precise terms, conditions and exclusions of your cover, please refer to the actual policy and any endorsement issued to you.

2 of 21 GH/PrimeShield/201211

b Monthly disability benefit

If you become severely disabled, we pay the monthly disability benefit shown in the policy schedule depending on the following conditions.

• When we have approved the claim, we will pay the first payment of monthly disability benefit on the day immediately after the deferment period. We will then pay it on the same day every month.

• If you recover from the severe disability or die at any time after we have begun paying this benefit, this benefit ends immediately on the date of your recovery or death (as the case may be). If you have recovered but become severely disabled again, you are entitled to further payment of this benefit.

The monthly disability benefit we will pay depends on the type of Basic ElderShield plan you own at the start date. The payout period is shown in the policy schedule.

c Dependant care benefit

If you have at least one child and you become severely disabled, we pay the dependant care benefit as shown in the policy schedule every month for up to 36 months in your lifetime. This benefit depends on the following conditions.

• If you recover from the severe disability or die at any time after we have begun paying this benefit, it will end immediately on the date of your recovery or death (as the case may be).

• If you recover from the severe disability and you have not fully used the amount under this benefit, you may make another claim for the remaining amount if you become severely disabled again as long as we have not paid for more than 36 months in your lifetime.

• If the child is no longer considered a child (because of their age or otherwise) at any time after we have begun paying this benefit, we will continue to pay this benefit until your death or you recover from the severe disability. The payment will then end.

We only have to start paying the dependant care benefit after the deferment period.

The benefit payments listed in clause 1a to 1c will end if you no longer suffer from severe disability.

d Get-well benefit or death benefit

We pay either the get-well or death benefit shown in the policy schedule in one lump sum during your lifetime.

We pay the get-well benefit if you recover from the severe disability while receiving the monthly disability benefit under this policy. We need proof that you have recovered from the severe disability which must be confirmed by an assessor from the panel we have appointed.

We pay the death benefit if you die while receiving the monthly disability benefit under this policy.



2 Our responsibilities to you

a Claims

Depending on the terms, conditions and limits in your policy schedule and as long as you have paid the premium or any amount you owe us under your policy, we will pay you the benefits.

To claim under your policy, you must send us a completed claim form. A certification by an assessor from the panel we have appointed that you are suffering from severe disability must also be sent to us. You will have to pay the costs and expenses of the first medical examination. We will refund you the costs and expenses of the first medical examination if we accept your claim. If the assessor states on the claim form that you need further examination, we will pay the costs and expenses of a further medical examination. We may also ask you to have a further medical examination which we will pay for.

b Waiting period

During the first 90 days from the start date, we do not pay any claim except claims resulting from an accident. If you become severely disabled during this waiting period (other than due to an accident), your policy will end and you will receive a full refund of your premium.

c Right to examine you

While we are making claim payments, we can appoint a doctor to examine you and you must give us reasonable opportunity to do so. We will pay the costs and expenses of this examination and any other medical evidence needed to prove whether you are still severely disabled.

3 Your responsibilities

a Premium

The premium that you have to pay us to receive the benefits is shown in the policy schedule. You must pay the premium every year up to the age shown in the policy schedule.

As the amount of premium that you have to pay us depends on your age at the start date of this policy, your sex and the monthly disability benefit, if you have been paying lower premiums because we have incorrect information or because of some other mistake, you must promptly pay us the shortfall when we ask. If you fail to pay the shortfall in premium promptly, we may cancel the policy. This will depend on, clause 3c (Non-forfeiture). We can then make a claim against you for the shortfall. If you have paid higher premiums because of incorrect information or some other mistake, we will refund the difference after working out the correct premium.



We give you 75 days’ grace to pay the premium for your policy to continue. During this grace period, your policy will stay in force. You must first pay any outstanding premium or amounts owing to us before we pay any claim under your policy.

If you have still not paid the premium after the grace period and unless clause 3c (Non-Forfeiture) applies to you, your policy will end immediately.

You are responsible for making sure that your premium is paid up to date.

You may choose to either pay the premium using a Medisave account, up to a limit of $600 a calendar year in line with the Act and Regulations, and/or in cash.

You may pay the premium or any part of it using cash if:

• the premium due is more than the maximum amount allowed to be deducted from your Medisave account; or

• there are not enough funds in your Medisave account to pay the premium due.

Unless clause 2b (Waiting period), clause 4i (Not telling us about a pre-existing disability) and the Free look period applies to you, we will not refund any unused part of the premium when your policy ends.

The premium that you pay for this policy can change. If we change the premium for your policy, we will write to you at your last-known address. We will do this at least 30 days before the change is to take place. We will tell you what your new premium will be.

b Waiver of premium

If, on the date when the premium is due, you are severely disabled and eligible to receive benefit payments under your policy, you do not have to pay the premiums. You will have to start paying premiums again after you are no longer severely disabled and benefit payments have ended.

c Non-forfeiture (not cancelling the policy)

You will need to pay the premium for your policy every year up to the age shown in the policy schedule. After you have made a minimum number of premium payments, we will treat your policy as a paid-up policy and if you fail to pay a premium, we will not automatically cancel your policy. Instead, we will reduce the benefits and we will only pay reduced benefits. We will decide on the minimum number of premium payments you will need to make and the level of the reduced benefits.



d Eligibility

To be eligible for PrimeShield you must be an individual who at the time of applying for the policy or reinstating it:

• is between 40 years and 64 years (entry age last birthday); and

• has a Basic ElderShield 300 plan or Basic ElderShield 400 plan.

4 What you need to be aware of

a Right of recovery

If you receive payment for any benefit which you are not entitled to or are no longer entitled to, you must repay the benefit payment to us when we demand.

If you fail to return the benefit payment to us, you must pay us in full for any loss, damage, cost or expense that we may suffer as a result of your failing to return the benefit payment to us or our having to enforce our rights to recover it. This includes all legal costs.

b Ending the policy

This policy will end when one of the following events happens.

• Unless clause 3c (Non-forfeiture) applies to you, the policy will end when we do not receive your premium after the grace period.

• Unless clause 3c (Non-forfeiture) applies to you, the policy will end when we do not receive your payment of any shortfall in premium set out in clause 3a (Premium).

• upon your death;.

• Unless clause 3c (Non-forfeiture) applies to you, your written notice to cancel your policy will apply from the next renewal date for your policy and there will be no refund of any unused premium.

• Your policy will end when your Basic ElderShield 300 is cancelled, unless your Basic ElderShield 300 is cancelled as a result of you having received the last benefit payment under it.

• Your policy will end when your Basic ElderShield 400 is cancelled, unless your Basic ElderShield 400 is cancelled as a result of you having received the last benefit payment under it.

• It will end if you did not reveal all material information or there is misrepresentation as shown in clause 4i (Not revealing a pre-existing disability).

• Your policy will end as the result of fraud as shown in clause 4j.



c Reinstating the policy

If your policy ends because you have not paid the premiums due, you may apply to reinstate your policy within 180 days from the end of the grace period. We will reinstate your policy depending on the following conditions.

• You give evidence that you can be insured which we must be satisfied with. You must pay any costs involved in doing this.

• You must pay all premiums and any interest you owe up to the reinstatement date before your policy is reinstated.

If we are not satisfied with the evidence which you have given, we have the right not to reinstate your policy. We will refund any overdue premiums paid.

If we reinstate your policy under this clause, we will treat it as if the cancellation never happened.

d Geographical cover

Your policy provides 24-hour worldwide cover.

e Overseas residence

If you are living outside Singapore at the time of making a claim, we will make every reasonable effort to assess your disability and make payments for your claim. Under these circumstances, we can change the benefit payments to a single payment reflecting the present value of future benefit payments. If we cannot assess your claim after we have made reasonable attempts, we may withhold claim payments until we receive more evidence.

f Guaranteed renewable

We guarantee to renew your policy every year as long as none of the conditions in clause 4b (Ending the policy) apply.

g Lifetime cover

We guarantee to provide cover under your policy for your lifetime. We will not end your policy for any reason other than those shown in clause 4b (Ending your policy) and clause 2b (Waiting period).



h Giving us all information

You must give us fully and truthfully, up to the start date, all significant facts and circumstances that may influence our decision whether or not to provide cover or to add terms to the policy. This responsibility applies to all information given to us.

If you do not reveal all material information or you misrepresent anything, and if not more than one year has passed since the start date or reinstatement date, whichever is later, we may:

• declare your policy not valid from the start date, or

• end your cover and not pay any benefits; or

• add extra terms and conditions to your policy.

If you do not reveal all material information or you have misrepresented information, and more than one year has passed since the start date or reinstatement date, whichever is later, we will not declare your policy not valid or deny any claim under it apart from in the following situations.

• If you made a fraudulent mis-statement or left out material information from your application.

• If your policy was reinstated and you made a fraudulent mis-statement or left out material information from your application for reinstatement.

i Not revealing a pre-existing disability

If, after the start date, we discover that you have a pre-existing disability which you did not tell us about before the start date, we will cancel your policy. When we cancel your policy, we will refund all premiums you have paid.

j Fraud

If a claim or any part of a claim is false or fraudulent, or if you use fraudulent methods or devices to gain any benefit, we can do any or all of the following.

• We may declare your policy invalid and you will lose all benefits under this policy. You will have to repay to us all amounts we have paid out under the policy and we will refund all premiums to you.

• We may refuse to renew your policy.

• We may add extra terms and conditions. If you disagree with us adding extra terms and conditions, you can write to us to cancel this policy. You will have to repay us all amounts we have paid out under the policy and we will refund all premiums to you.

k No cash-in value

Your policy has no cash-in value.



l Changes to policy terms or conditions

We may change the benefits, terms, conditions or name of your policy at any time. However, we will write to you at your last-known address at least 30 days before doing so. The variation will take effect from the next renewal date.

m Currency

All premium and benefits will be paid in Singapore dollars.

n Dealing with disputes

If we refuse to pay a claim because you are not severely disabled, and you disagree with our decision, we will pass the dispute to an arbitration panel set up by MOH. The arbitration panel may appoint a geriatrician or other qualified medical practitioner to assess you. If the panel decides that you are severely disabled, we will pay for the costs of the assessment. If the panel decides that you are not severely disabled, you will have to pay the costs of the assessment. The Government pays for the costs of maintaining the arbitration panel and carrying out arbitration proceedings. The decision of the arbitration panel is final and binding on both you and us.

o Excluding third-party rights

A person who is not directly involved in your policy will have no right, under the Contracts (Rights of Third Parties) Act (Cap 53B), to enforce any of its terms.

p Notice of communication

We will assume any notice or communication under this policy has been given and received if sent:

• personally – on the day it is delivered;

• by prepaid mail – within seven days after the mail is sent;

• by fax – immediately, as long as a transmission report is produced by the machine from which the fax was sent which shows that the fax was sent to the correct fax number; or

• by email, SMS or other electronic method – as soon as it is sent.



q Exclusions

Your policy does not cover any severe disability arising directly or indirectly from:

• deliberately injuring yourself or attempted suicide, whether you are sane or insane;

• war, whether declared or not; or

• alcoholism or drug addiction.

We do not pay any benefit for pre-existing disability or severe disability arising from pre-existing conditions unless you have told us about the pre-existing conditions and we have accepted them before the start date.

5 Definitions

Accident means an unexpected incident that results in an injury. The injury must be caused entirely by being hit by an external object that produces a bruise or wound, except for injury caused specifically by drowning, food poisoning, choking on food, or suffocation by smoke, fumes, or gas.

Act means the Central Provident Fund Act (Chapter 36), as amended, extended or re-enacted from time to time.

Basic ElderShield 300 means a severe disability insurance product which pays an insured person a fixed monthly sum of $300 for up to 60 months and is approved by MOH for the purposes of the scheme.

Basic ElderShield 400 means a severe disability insurance product which pays an insured person a fixed monthly sum of $400 for up to 72 months and is approved by MOH for the purposes of the scheme.

Benefits mean the benefits we will pay under your policy and as set out in clause 1. Child means any legitimate child or stepchild of the policyholder or child adopted by the policyholder according to any law who has not reached the age of 21 years on the claim date. Start date means the start date of your policy and is shown in the policy schedule.

Deferment period means the 90-day period from the claim date (inclusive). We will pay the first benefit payment immediately after the deferment period. We treat the claim date as the date on which the claim form for your policy is certified by an assessor from the panel we have appointed.

If you have recovered from a severe disability but become severely disabled again from the same cause within 180 days, we will not enforce the deferment period for the new claim. If you suffer severe disability arising from the same cause after the 180-day period or suffer severe disability arising from a different cause, the deferment period of 90 days applies for the new claim. The benefit payments will end if you no longer suffer from severe disability.



Government means the Government of the Republic of Singapore and includes any officer authorised by the Government to act on its behalf.

Medisave means Medisave as defined in the Act and any subsidiary legislation enacted under the Act.

MOH means the Ministry of Health, Singapore.

Plan means the type of plan that you have chosen under your policy and which is shown in the policy schedule.

Policy schedule means the policy schedule attached to these PrimeShield conditions.

Pre-existing conditions means any illness, disease, condition or injury:

• for which you have asked for or received treatment, medication, advice or diagnosis for or which you ought to have done;

• which was known to exist, whether or not you asked for or received treatment, medication, advice or diagnosis; or

• the conditions or symptoms of which existed and would have led a reasonable and sensible person to get medical advice or treatment before the start date.

Pre-existing disability means that you were suffering from severe disability before the start date.

Premium means the premium set out in the policy schedule and clause 3a.

Regulations mean the Central Provident Fund Regulations, as amended, extended or re-enacted from time to time.

Reinstatement date means the date when we approve your application for reinstatement or when we receive the reinstatement premium, whichever is later.

Scheme means the Basic ElderShield scheme established and maintained by MOH for the purposes of allowing a person to buy a severe disability insurance policy from an insurer approved by MOH.

Severe disability or severely disabled means your inability to perform at least three of the following activities of daily living, even with the aid of special equipment and always to require the physical assistance of another person throughout the entire activity.

• Washing – the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.

• Dressing – the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.

• Feeding – the ability to feed oneself food after it has been prepared and made available.

• Toileting – the ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.

• Mobility – the ability to move indoors from room to room on level surfaces.

• Transferring – the ability to move from a bed to an upright chair or wheelchair, and vice versa.



We, us or our means NTUC Income Insurance Co-operative Limited.

You or your means the person named in the policy schedule as the policyholder.

Policy Owners’ Protection SchemeThis policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact NTUC Income or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).


Policy Owners’ Protection SchemeThis policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www. sdic.org.sg).


Product summary - PrimeShield

Product information – what we cover

PrimeShield is an insurance plan which pays you a monthly sum if you become severely disabled. It is designed to work alongside Basic ElderShield and provides extra benefits to meet the needs of those who would like more cover.

As an example, we are using PrimeShield at a benefit level of $1000.

PrimeShield for policyholders under Basic ElderShield 300

CoverBasic ElderShield

300 onlyBasic ElderShield 300 and

PrimeShield 1000

Monthly disability benefit $300 for 60 months $1000 (see note 1)

Lump-sum benefit Nil $3000 one-time payment

Dependant care benefit Nil $250 for up to 36 months

Get-well benefit or death benefit Nil $3000 one-time payment

Total payout $18 000Payout as long as you suffer

from severe disability

Note 1 : For the first 60 months - $300 for Basic ElderShield and $700 for PrimeShield.From 61st month onwards - $1,000 for PrimeShield.

PrimeShield for policyholders under Basic ElderShield 400

CoverBasic ElderShield

400 onlyBasic ElderShield 400 and

PrimeShield 1000

Monthly disability benefit $400 for 72 months $1000 (see note 2)

Lump-sum benefit Nil $3000 one-time payment

Dependant care benefit Nil $250 for up to 36 months

Get-well benefit or death benefit Nil $3000 one-time payment

Total payout $28 800Payout as long as you suffer

from severe disability

Note 2 : For the first 72 months - $400 for Basic ElderShield and $600 for PrimeShield. From 73rd month onwards - $1,000 for PrimeShield.

PrimeShield provides the following benefits if you are certified to be severely disabled by a qualified assessor from the panel that we have appointed.

You can only buy PrimeShield if you have an existing Basic ElderShield plan.



Benefits we will pay

1 Lump-sum benefit

We will pay a one-time lump-sum benefit which is three times your monthly disability benefit. If you recover from the severe disability after we have paid this benefit but then become severely disabled again, you are not entitled to this benefit again.

2 Monthly disability benefit

We will pay a monthly disability benefit as well as the monthly payout under your Basic ElderShield plan. This monthly disability benefit continues even after your Basic ElderShield plan has been fully paid out, as long as you are still severely disabled. We will pay the first monthly disability benefit on the day immediately after the deferment period. We will then pay it on the same day every month. The deferment period is a 90-day period from the claim date. The monthly disability benefit we will pay depends on the type of Basic ElderShield plan you own at the start date of your cover under PrimeShield. This benefit ends immediately on the date you recover from the severe disability or die (as the case may be). If you have recovered but become severely disabled again, you are entitled to a further payment of this benefit.

3 Dependant care benefit

If you have at least one child who has not reached the age of 21 and you become severely disabled, we will pay a dependant care benefit which is 25% of your monthly disability benefit. We will pay this benefit to you every month for up to 36 months in your lifetime.

This benefit ends immediately on the date you recover from the severe disability or die (as the case may be). If you have recovered but become severely disabled again, you are entitled to a further payment of this benefit as long as we have not paid you this benefit for more than 36 months in your lifetime.



4 Get-well or death benefit

We will pay a get-well or death benefit which is three times your monthly disability benefit as a one-time payment if:

• you recover from the severe disability while receiving the monthly disability benefit under this policy; or

• you die while receiving the monthly disability benefit under this policy.

If you have recovered and received the get-well benefit but become severely disabled again or die, you (or your beneficiaries) are not entitled to a further payment of this benefit.

Definition of severe disability or severely disabled

Severe disability or severely disabled means your inability to perform at least three of the following activities of daily living, even with the aid of special equipment, and always to require the physical assistance of another person throughout the entire activity.

The assessment and the definition of activities of daily living are the same for Basic ElderShield plan.

• Washing – the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.

• Dressing – the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.

• Feeding – the ability to feed oneself food after it has been prepared and made available.

• Toileting – the ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.

• Mobility – the ability to move indoors from room to room on level surfaces.

• Transferring – the ability to move from a bed to an upright chair or wheelchair, and vice versa.



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3.20

3,57

4.90

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5061

2.10

741.

6087

1.00

1,00

0.50

1,13

0.00

1,26

0.50

1,39

0.00

1,51

9.40

1,64

8.90

1,77

9.50

2,42

7.90

3,07

6.30

3,72

4.70

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499.

7063

4.60

770.

4090

5.30

1,04

1.20

1,17

7.00

1,31

1.90

1,44

7.80

1,58

3.60

1,71

8.50

1,85

4.40

2,53

1.70

3,20

9.00

3,88

6.30

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517.

9066

0.20

801.

5094

3.80

1,08

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1,22

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1,36

8.60

1,51

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1,65

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1,79

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1,93

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3,35

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2.80

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539.

3068

8.10

836.

8098

5.50

1,13

4.20

1,28

3.00

1,43

1.70

1,58

0.40

1,72

9.20

1,87

7.90

2,02

6.60

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3,51

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6180

561.

8071

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874.

201,

030.

501,

186.

701,

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901,

499.

101,

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301,

811.

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304,

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3091

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1,08

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1,57

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401,

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301,

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502,

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319.

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80



Prim

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eld

300

year

ly p

rem

ium

rate

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ble

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ms

incl

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GST

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hday

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un

til

you

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h

Mon

thly

dis

abili

ty b

enefi

tFe

mal

e

500

600

700

800

900

1000

1100

1200

1300

1400

1500

2000

2500

3000

4065

333.

9041

0.90

488.

0056

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3.60

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156.

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7.30

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401,

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4.20

1,06

2.60

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4,43

5.20

5,37

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716.

9091

3.80

1,10

9.60

1,30

6.50

1,50

3.40

1,70

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1,89

7.20

2,09

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2,28

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1,57

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3.70

4,30

1.40

5,45

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6,61

6.90



Prim

eShi

eld

400

year

ly p

rem

ium

rate

s ta

ble

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miu

ms

incl

ude

GST

.)

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y ag

e la

st

birt

hday

Paid

un

til

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h

Mon

thly

dis

abili

ty b

enefi

tM

ale

500

600

700

800

900

1000

1100

1200

1300

1400

1500

2000

2500

3000

4065

217.

3027

7.20

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50



Prim

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eld

400

year

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ium

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ble

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ms

incl

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.)

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y ag

e la

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til

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h

Mon

thly

dis

abili

ty b

enefi

tFe

mal

e

500

600

700

800

900

1000

1100

1200

1300

1400

1500

2000

2500

3000

4065

272.

9034

9.90

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5.40



The product conditions – what you need to know

This is only a brief summary of the product. Please read the policy contract for the actual terms, conditions and exclusions of this product. Please contact your adviser if you have more questions.

Lifetime cover

We guarantee to provide cover under your policy for your lifetime. We will not end your policy for any reason other than those shown in the clause on ending the policy and the clause on the waiting period.

Premium

The premium that you have to pay us to receive the benefits is shown in the premium rates table. You must pay the premium every year up to the age shown in the premium rates table. You may choose to either pay the premium using a Medisave account, up to a limit of $600 a calendar year in line with the Central Provident Fund Act and its Regulations, or in cash, or both.

You can pay the premium, or any part of it, using cash if the premium due is more than the maximum amount which is allowed to be taken from your Medisave account or there are not enough funds in your Medisave account to pay the premium due.

The premium that you pay for this policy can change. If we change the premium for your policy, we will write to you at your last-known address. We will do this at least 30 days before the change is to take place. We will tell you what your new premium will be.

Waiver of premium

We will allow you to stop paying premiums if you are severely disabled and eligible to receive benefit payments under your policy. You will have to start paying premiums again after you are no longer severely disabled and benefit payments have ended.

Exclusions

There are certain conditions when we will not pay any benefits. These are shown as exclusions in the contract. You should read the policy contract for the full list of exclusions. Some exclusions are listed below. Your policy does not cover any severe disability arising directly or indirectly from:

• deliberately injuring yourself or attempted suicide, whether you are sane or insane;

• war, whether declared or not; or

• alcoholism or drug addiction.



We do not pay any benefit for pre-existing disability or severe disability arising from pre-existing conditions unless you have told us about the pre-existing conditions and we have accepted them before the start date of your cover.

Waiting period

During the first 90 days from the start date of your cover, we do not pay any claim except claims resulting from an accident. If you become severely disabled during this waiting period (other than due to an accident), your policy will end and you will receive a full refund of your premium.

Deferment period

Deferment period means the 90-day period from the claim date (inclusive). We will pay the first benefit payment immediately after the deferment period. We treat the claim date as the date on which your disability is certified (confirmed) by our appointed panel assessor who will assess your ability to carry out the activities of daily living.

Guaranteed renewable

We guarantee to renew your policy every year as long as none of the conditions in the clause on ending the policy apply.

Ending the policy

This policy will end when:

• you die;

• we do not receive your premium after the grace period of 75 days after the premium due date;

• we receive your written notice to end the policy;

• your Basic ElderShield plan is cancelled, unless your Basic ElderShield plan is cancelled as a result of you having received the last benefit payment under it; or

• you commit any act of fraud or we find out you misrepresented information.

Free-look period

We will give you 60 days from the time you receive this policy to decide whether you want to continue with it. If you do not want to continue, you may write to us to cancel this policy and get a refund of your premium paid, less medical and other expenses we spent in considering your application. We consider that this policy has been delivered (and received) seven days after we post it.



Changes to policy terms or conditions

We may change the benefits, terms, conditions or name of your policy at any time. However, we will write to you at your last-known address at least 30 days before doing so. The change will take effect from the next renewal date.

No cash-in value

This policy has no cash-in value.

Policy Owner’s Protection Scheme

“This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).”

Disclaimer

This product summary does not form a part of the contract of insurance. It is only meant to be a simplified description of the product features which apply to this plan and does not explain the whole contract. The contents of this product summary may be different from the terms of cover we eventually issue. Please read the policy contract for the precise terms, conditions and exclusions. Only the terms, conditions and exclusions in the policy contract will be enforceable by you and us.


“This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg)”

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