Frequently Asked Questions

DIRECT Star Term

Product coverage

  • Q:What is DIRECT Star Term (renewable)?

    A:

    DIRECT Star Term is a non-participating regular premium plan that provides coverage for a limited period of time.

    It provides protection against death, total and permanent disability (TPD before the age of 65), and terminal illness (TI) during the term of the policy. This policy cannot be cashed in.

    This is a Direct Purchase Insurance (DPI) product, with no financial advice provided. The product is not available for sale through all other distribution channels of Income.

  • Q:What are the benefits payable?

    A:

    We will pay benefits if the insured becomes totally and permanently disabled (before the age of 65), becomes terminally ill, or dies, during the term of the policy.

  • Q:Is there guaranteed renewal for DIRECT Star Term (renewable)?

    A:

    If your policy has not ended as a result of a claim during its term, we will renew it for another five years at its prevailing sum assured. However, we will not renew this policy if the insured is age 80 years and above at the time the policy is due for renewal.

    We will work out the renewal premium based on the policy term, sum assured and the age of the insured at the time the policy is renewed.

Death and Terminal Illness Benefit

  • Q:What is the death benefit payable?

    A:

    If the insured dies during the term of the policy, we will pay the sum assured.

    The policy will end when we make this payment.

  • Q:Is there any exclusion(s) for death benefit?

    A:

    This policy is not valid if the insured commits suicide within one year from the cover start date.

    We will refund the total premiums paid, without interest, less any amounts we have paid you, and any amount you owe us, from the cover start date.

  • Q:What is the terminal illness benefit payable?

    A:

    If the insured becomes terminally ill during the term of the policy, we will pay the sum assured.

    The policy will end when we make this payment.

  • Q:What is the definition of terminal illness?

    A:

    Terminal illness, and terminally ill means an illness which, in the opinion of the registered medical practitioner involved and a registered medical practitioner we have appointed, is highly likely to lead to death within 12 months. However, we will exclude terminal illness in the presence of human immunodeficiency virus (HIV).

  • Q:Is there any exclusion(s) for terminal illness benefit?

    A:

    We will not pay the terminal illness benefit if the claim arises from:

    • deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
    • unlawful acts, provoked assault or deliberate exposure to danger; or
    • the effects of alcohol, drugs or any dependence.
Total and permanent disability (TPD) benefit

  • Q:What is the total and permanent disability (TPD) benefit payable?

    A:

    If the insured becomes totally and permanently disabled (before the age of 65) during the term of the policy, we will pay the sum assured.

    The policy will end when we make this payment.

  • Q:What is the definition of total and permanent disability (TPD) and “Total physical loss”?

    A:

    TPD is defined as the complete and continuous inability of the life insured at that time and at all times thereafter to engage in any business or occupation or perform any work of any kind for remuneration or profit, or total physical loss. 

    “Total physical loss” refers to:

    • the total and irrecoverable loss of sight of both eyes;
    • the loss by complete severance or total and irrecoverable loss of use of both limbs at or above the wrist or ankle; or
    • the total and irrecoverable loss of sight of one eye and the loss by complete severance or total and irrecoverable loss of use of one limb at or above the wrist or ankle.

  • Q:Is there any exclusion(s) for total and permanent disability (TPD) benefit?

    A:

    We will not pay this benefit if your claim arises from:

    • deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
    • unlawful acts, provoked assault, or deliberate exposure to danger; or
    • the effects of alcohol, drugs or any dependence.

    We not pay this benefit if the insured is merely unable to perform the same job as before, or is unable to perform a job to which his or her training, education or experience is suited for.

    We will also not pay this benefit unless the insured is certified by a registered medical practitioner to have been totally and permanently disabled for at least six months in a row.

DIRECT Dread Disease Rider for Term

  • Q:What is this rider?

    A:

    This rider can be attached to DIRECT Star Term (renewable) and DIRECT Star Term (non-renewable) policy to provide additional dread disease cover for a limited period of time. Application is subject to underwriting and additional premiums are payable for this rider to be added.

    If the insured is diagnosed with a specified dread disease (except angioplasty and other invasive treatment for coronary artery) during the term of the rider, we will pay the sum assured. This rider will end after we make this payment.

    If the insured undergoes angioplasty and other invasive treatment for coronary artery during the term of the rider, we will pay 10% of the sum assured, subject to a maximum of S$25,000. We will only pay for this condition once under this benefit. After this payment, we will reduce the sum assured of this rider. We will work out any future premiums or claims based on the reduced sum assured.

    It is important to note that whenever we make an accelerated payment on this rider, the sum assured of its main plan will be reduced by the same amount. The main plan and this rider will end when the sum assured reach zero.

    There is a total of 30 dread diseases that are covered under this rider. You can refer to the policy contract for detailed definition of each dread disease as you will receive a payout under the rider only if the illness falls within the definition stated in the contract.

    Additional premiums are payable for this rider to be added. You will need to consider whether you can afford the additional premiums and whether your insurance needs can be better met with the addition of this rider.

  • Q:What are the dread diseases being covered?

    A:

    The 30 specified dread diseases are: 

    No.Name of Dread DiseaseNo.Name of Dread Disease
    1Major Cancer16Muscular Dystrophy
    2Heart Attack of Specified Severity17Idiopathic Parkinson’s Disease
    3Stroke with Permanent Neurological Deficit18Open Chest Surgery to Aorta
    4Coronary Artery By-Pass Surgery19Alzheimer’s Disease / Severe Dementia
    5End Stage Kidney Failure20Fulminant Hepatitis
    6Irreversible Aplastic Anaemia21Motor Neurone Disease
    7End Stage Lung Disease22Primary Pulmonary Hypertension
    8End Stage Liver Failure23HIV Due to Blood Transfusion and Occupationally Acquired HIV
    9Coma24Benign Brain Tumour
    10Deafness (Irreversible Loss of Hearing)25Severe Encephalitis
    11Open Chest Heart Valve Surgery26Severe Bacterial Meningitis
    12Irreversible Loss of Speech27Angioplasty & Other Invasive Treatment for Coronary Artery
    13Major Burns28Blindness (Irreversible Loss of Sight)
    14Major Organ / Bone Marrow Transplantation29Major Head Trauma
    15Multiple Sclerosis30Paralysis (Irreversible Loss of Use of Limbs)

    The full definition of each dread disease covered and the circumstances in which you can claim are stated in the policy contract.

  • Q:What are the exclusions for dread disease cover?

    A:

    We will not pay this benefit if your claim arises from:

    • deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
    • deliberate misuse of drugs or alcohol;
    • acquired immunodeficiency syndrome (AIDS), AIDS-related complex or infection by human immunodeficiency virus (HIV), except as stated under HIV due to blood transfusion and occupationally acquired HIV; or
    • major cancer, heart attack of specified severity, coronary artery by-pass surgery, or angioplasty and other invasive treatment for coronary artery, where the insured was diagnosed with the disease within 90 days from the cover start date. For coronary artery by-pass surgery and angioplasty and other invasive treatment for coronary artery, the date of diagnosis shall refer to the date of diagnosis of the medical condition that leads to the surgical procedure, and not to the date of surgical procedure.

  • Q:Is this rider renewable?

    A:

    If this rider is attached to a DIRECT Star Term (renewable) policy and there is no claim (except angioplasty and other invasive treatment for coronary artery) on this rider during its term, when it ends, we will renew it for another five years at its prevailing sum assured. However, we will not renew this rider if the insured is 60 years and above at the time the rider is due for renewal. We will also not renew this rider beyond the premium term of its main plan. We work out the renewal premium based on the rider’s policy term, sum assured and the age of the insured at the time the rider is renewed. The main plan must be in force for us to renew this rider.

Cash value, bonuses and maturity benefit

  • Q:Is there any cash value or maturity value for this policy?

    A:

    No, there is no cash or maturity value for this policy.

  • Q:Is there any bonus given to this policy?

    A:

    No, this policy is not eligible for bonus.

Eligibility and Premium Payments

  • Q:What are the policy term and entry age available?

    A:


    Product name Policy term Minimum Maximum
    DIRECT Star Term (renewable) 51 18 64
    DIRECT Star Term (non-renewable) 20 18 64
    Up to age 64 (LB) 18 59

    1Policy can be renewed up to a maximum coverage age of 84 (Last birthday)

  • Q:Are premium rates guaranteed?

    A:

    Premium rates of the main plan are guaranteed throughout the policy term and are applicable to standard lives. The premiums may be higher at the point of renewal due to your age, but any medical conditions uncovered since the start of the term life DPI will continue to be covered after the renewal.

    Premiums for the dread disease rider are not guaranteed. We will give you 6 months’ notice before making any change.

  • Q:What is the minimum and maximum sum assured for this policy?

    A:

    The minimum sum assured for DIRECT Star Term (renewable) and DIRECT Star Term (non-renewable) is S$50,000 per policy.

    In the event of subsequent reduction in sum assured, sum assured cannot be an amount lower than $50,000.

    The maximum sum assured per insured for all DPI products, regardless of the number of policies purchased with Income, is S$400,000; with a sub-limit of S$200,000 for Whole life DPI.

  • Q:What are the premium payment frequencies available?

    A:

    You can choose to pay your premiums monthly, quarterly, half-yearly or yearly.

Application Process

  • Q:Will there be any financial advice given on my needs and suitability of this product?

    A:

    No, this product is only available to customers who are buying direct without any financial advice.

  • Q:How do I apply for DPI?

    A:

    You can apply for DPI anytime online via our website. Before you purchase, we will give you additional materials such as:

    • Policy Illustration
    • Product Summary
    • Direct Purchase Insurance (DPI)
    • Fact Sheet and Checklist
    • Sample policy document on the precise terms, conditions and exclusions for your consideration.

    These will give you full details of the policy and rider before you buy.

    You may also apply personally at any of our specified Client Advisory Centres listed in the relevant FAQ below during operating hours. A Client Adviser will be assigned to assist you in the application of DPI. 
    The Client Adviser will provide you the following documents for application of DPI:

    • Policy illustration and product summary
    • Application form and additional health questionnaire, if applicable
    • Direct Purchase Insurance Fact Sheet and Checklist
    • Fact Sheet Supplementary Form
    • Nomination form
    • GIRO form for premium deduction.

    If you are an employment pass holder or are holding multiple tax residences, an advisor will need to assist you in submitting the required declaration forms before the purchase.

    If you are considered a Selected Client (refer to the relevant FAQ below for the definition of Selected Client), it is recommended that you apply for DPI in the presence of a Trusted Individual (refer to the relevant FAQ below for the definition of Trusted Individual).

    Upon completing the above documents, the Client Adviser will assist you to submit documents and premium payment. We will need to make a photocopy of your NRIC (as well as your Trusted Individual’s, if applicable) as part of the documents required for application.

    We will keep you updated on the outcome of the application.

  • Q:What is the definition of Selected Client?

    A:

    A Selected Client is one who meets at least 2 of the following criteria:

    • Aged 62 or older;
    • Not conversant in spoken or written English; and
    • Below GCE ‘O’ Level or ‘N’ level certifications, or equivalent academic qualifications

  • Q:What is the definition of Trusted Individual?

    A:

    A Trusted Individual is defined as an individual who meets all of the following criteria:

    • At least aged 18;
    • Possess at least GCE ‘O’ or ‘N’ level certifications or equivalent academic qualifications;
    • Be proficient in spoken or written English; and
    • Be a person who has the trust of the Selected Client.

  • Q:Where are the Client Advisory Centres and what are their operating hours?

    A:

    You may refer to our branch information here.

  • Q:Will my application be subject to underwriting?

    A:

    Yes, your application will be subject to underwriting. We will keep you informed on the outcome of the underwriting.

  • Q:When will the insurance coverage commence?

    A:

    Insurance coverage commences upon underwriting approval and receipt of premium payment.

  • Q:Will there be any insurance coverage while the application is being processed?

    A:

    Yes, if premium payment is made, we will pay the sum assured, if the insured dies as a result of an accident while we are processing the application.

  • Q:What are the methods of payment available?

    A:

    We offer the following payment methods for your convenience:

    1. By GIRO deduction
    2. By direct payment e.g. cheque, cash, NETS, credit card. Credit card payment is restricted to first premium payment for regular premium life insurance application. Subsequent premium payments have to be made using GIRO, cash or cheques.
    3. By internet banking, AXS.

    We encourage payment by GIRO deduction for regular premium payment as it reduces the administrative work for all parties involved.

  • Q:What is the arrangement for GIRO deduction?

    A:

    The arrangements are as follows:

    1. GIRO Form
      1. You have to submit the GIRO form to authorise GIRO deduction.
      2. Kindly have the form verified by an insurance adviser / servicing staff before submission.
      3. If the account is operated by “thumbprint”, the GIRO form must also be verified by the bank before submission.
    2. Commencement
      1. After receiving the GIRO form, we will arrange with the bank to start the deduction as early as possible. This will usually take effect on the next or following month.
      2. We will inform you in writing as soon as the arrangement is confirmed.
    3.  Deduction Dates
      1. The deduction dates in each month are:
        • 1st attempt: 6th
        • 2nd attempt: 18th
      2. The deduction date will be rescheduled to the next working day if the 6th or 18th falls on Sunday or Public Holiday.
      3. We will send you a notice if any premium cannot be deducted due to insufficient funds in the account.
    4. Receipt We will not issue any receipt for premiums deducted through GIRO. The deduction will be shown in the bank statement. 

  • Q:Can all types of credit card be used to make payment?

    A:

    Currently we only accept Master and Visa cards. Other cards such as Diners or American Express are not accepted.

    You may wish to note that debit cards are also not accepted.

  • Q:When will the premiums be deducted from credit card?

    A:

    Once the life insurance application has been approved and credit card details have been entered in our system, the premium will be deducted within 5 working days.

  • Q:Do I need to personally collect the policy document from Income?

    A:

    For your convenience, the electronic policy document will be sent to you via a link in SMS/email. Hence you do not need to collect it personally from us.

  • Q:Can I cancel the policy during free-look period?

    A:

    There is a 14-day free-look period during which you can evaluate if the policy meets your needs. In the event that you decide to give up the policy within the free-look period, we will refund you the premiums paid (less any incurred medical examination expenses).

    The 14-day free-look period will start seven days after we have posted the policy.

Policy alteration

  • Q:Can I request for a change in premium payment frequency, e.g. from yearly to monthly?

    A:

    Yes, you may submit your request via My Income customer portal.

  • Q:Can I nominate a beneficiary?

    A:

    Under the Insurance Act, if you effect a life insurance on your own life, you can nominate any person as a beneficiary to receive the insurance policy proceeds.