Frequently Asked Questions

Grandeur Solitaire (US$)

Product Coverage
  • Q:What is Grandeur Solitaire (US$)?

    A:

    Grandeur Solitaire (US$) is a participating, single premium whole life plan with a policy term that lasts until the anniversary immediately after the insured’s 120th birthday.


    Cash benefits are payable each month, starting from the 49th month from the policy entry date.


    This plan also provides protection against death of the insured during the policy term.


    As this plan is denominated in US$, you should be aware and accept that if US$ is not your home currency, you will be exposed to foreign currency exchange risks from the time you purchased this policy to the time the policy benefits are payable. This means that you may need to bear the charges, expenses or losses (if any) resulting from any currency conversion on any transaction pertaining to this policy.

  • Q:Is there guaranteed acceptance for this plan?

    A:

    Yes, there is guaranteed acceptance for this plan regardless of the insured’s health condition. However, financial underwriting is applicable.

Death Benefit
  • Q:What is the death benefit payable?

    A:

    Upon death of the insured during the term of the policy, we will pay 105% of the net single premium paid and a terminal bonus.


    Any accumulated cash benefits and cash bonuses will also be paid out.


    Any policy loan and interest will be deducted from the benefit amount payable.


    The policy terminates thereafter.

  • Q:What are the exclusion(s) for death benefit?

    A:

    We will not pay the death benefit if the insured commits suicide within one year from the date:

    • we issue this policy;
    • we issue an endorsement to include or increase a benefit; or
    • we reinstate this policy;

    whichever is latest.


    The policy will cease with immediate effect and we will refund the premiums paid, without interest, less any payout and any amount you owe us, from the cover start date.

Cash Benefit
  • Q:What are cash benefits?

    A:

    If the insured survives at the end of 48 months from the policy entry date, we pay a monthly cash benefit from the start of the 49th month after the policy entry date.


    Each monthly cash benefit is 0.1475% of the net single premium, and we pay it as long as the insured is still alive and the policy has not ended.


    If the insured survives at the end of the policy term and this policy has not already ended, we will pay the final cash benefit which is 1.77% of the net single premium and the cash bonus as a lump-sum with the maturity benefit. This policy will end when we make this payment.

  • Q:What can I do with my cash benefits?

    A:

    You can choose to use the cash benefit in any one of the following ways.

    • Place it in a deposit account to earn interest at a rate we will set.
    • Receive it as a payout.
  • Q:How do I inform Income of my choice for the cash benefits?

    A:

    Before the first cash benefit is due, we will write to you to remind you what you chose. If we do not receive any instruction from you at least 30 days before the first cash benefit is due, we will go ahead with your original choice.


    We will then follow this same choice for the later cash benefits, unless you tell us your choice at least 30 days before the next cash benefit is due.


    If we pay a cash bonus on top of a monthly cash benefit, we will treat the cash bonus and its monthly cash benefit as one cash benefit.

  • Q:How will the cash benefit be paid?

    A:

    All cash benefit will be paid in US$ via telegraphic transfer (TT).

  • Q:Can I request for proceeds to be paid in non-US$ currency?

    A:

    No, we will pay proceeds only in US$.

Cash Value, Bonuses & Maturity Benefit
  • Q:Is there any cash value for this policy?

    A:

    Yes, cash value is available after the net single premium is paid. The policy has a guaranteed cash value equivalent to 80% of the net single premium throughout the policy term.

  • Q:What is the maturity benefit payable?

    A:

    If the insured survives at the end of the policy term, which is to the anniversary immediately after the insured’s 120th birthday, and this policy has not already ended, we will pay 105% of the net single premium and a terminal bonus.


    Any accumulated cash benefits and cash bonuses will also be paid out together with the maturity benefit. Any policy loan and interest will be deducted from the benefit amount payable.


    The policy terminates thereafter.

  • Q:Is this policy eligible for any bonus?

    A:

    Yes, there are two types of bonuses:

    • “Terminal” or “special” bonus is an additional bonus that we pay at the time of claim, maturity or when you surrender your policy.
    • “Cash” bonus may be payable starting from the 49th policy month up to the termination of the policy. The bonus rate, which is declared yearly, is not guaranteed and may vary from year to year. The cash bonus, (if any) will be paid out together with the monthly cash benefit. You can choose to leave both the cash bonus and cash benefits with Income to accumulate at prevailing interest rate.


    These bonuses are not guaranteed. They are recommended by our Appointed Actuary and approved by our Board of Directors.

Eligibility & Premium Payments
  • Q:What are the minimum and maximum entry ages?

    A:

    MinimumMaximum
    Insured075
    Policyholder10*N.A.


    *Individuals who take up the policy on their own from 10 to 15 years old (age last birthday) will require parental/legal guardian’s consent. Parents cannot take up policies on the lives of their children who are 18 years old (age last birthday) and above.

  • Q:What is the minimum and maximum single premium for this policy?

    A:

    The minimum single premium is US$200,000 per policy. The maximum single premium is subject to financial underwriting.

  • Q:Can I use funds in Central Provident Fund (CPF) or Supplementary Retirement Scheme (SRS) to buy this policy?

    A:

    No, you can only use cash (US$) to buy this policy.

  • Q:Can I pay the premium using non-US$ currency?

    A:

    No, you can only use cash (US$) to buy this policy.

  • Q:How do I make the premium payment?

    A:

    Premium can only be paid via telegraphic transfer (TT), instruction will be provided via Letter of Agreement (LOA). Please note that charges may be applicable by the bank for the transaction and this is to be bore by customers.

  • Q:Can I backdate my policy?

    A:

    No, you cannot backdate your policy.

Policy Loan
  • Q:Can I take a policy loan?

    A:

    Yes, you can take a policy loan subject to the prevailing terms and conditions. Please note that requests for policy loan can only be submitted from 4 September 2020.