Mr Ang (not his real name), a security guard, bought a whole life policy from NTUC Income in 1985 but he could not afford the premiums in early 1998 due to the hefty hospital bills that he incurred as a result of ischaemic heart disease. In Dec 1998, his policy was revived with a declaration of his heart problem and hyertension. Income has underwritten and accepted these riss at standard rates in view of his loyalty with us.
Unfortunately, in April 1999, Mr Ang could not face up to life and he commited suicide. As his death by suicide occurred within 12 months from the date of revival, Income was only liable for the paid-up value of the policy, which amounted to about $2800.
However, in view that Mr Ang was a policy-holder with Income for more than 13 years, we decided to be compassionate, and pay to his wife, the nominee, the death claim in full, amounting to$25,000.
The sum of money can never compensate Mrs Ang for the loss of her beloved husband's life, but it helped her to pay for his funeral expenses. Leaving behind 2 young children as well, hopefully this sum of money will also help them in their future basic and educational needs.
Email this page
Print this page
