Frequently Asked Questions

Invest Flex

Product Coverage

  • Q:What is Invest Flex?

    A:

    Invest Flex is a whole life regular-premium investment-linked plan^.

    ^ An investment linked plan has both a life insurance and an investment component. Your premiums are used to pay for units in one or more investment funds of your choice.  The value of these units depends on their price, which in turn depends on the investment fund’s performance. 

  • Q:Is there guaranteed acceptance?

    A:

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

Death Benefit

  • Q:What is the death benefit payable?

    A:

    During the term of this policy, if the insured dies, we will pay the benefit shown below:

    Time the insured event happensBenefit
    Within one year from the cover start dateThe policy value less any bonus at the time we are told about the claim
    After one year from the cover start date

    - 101% of net premium(s) paid; or

    - the policy value at the time we are told about the claim;

    whichever is higher


    Any applicable fees and charges which apply to the policy will be deducted. The policy will end when we make this payment.

    If you have appointed a secondary insured before the insured dies, we will not pay this benefit. Upon the death of the insured, the secondary insured becomes the insured and this policy will continue.

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

    A:

    We will not pay the death benefit if the insured committed suicide within one year from the cover start date.

    If the insured commits suicide within one year from the cover start date, we will pay the policy value less any bonus at the time we are told about the claim.

Terminal Illness (TI) benefit

  • Q:What is the TI benefit payable?

    A:

    During the term of this policy, if the insured becomes terminally ill, we will pay the benefit shown below:

    Time the insured event happensBenefit
    Within one year from the cover start dateThe policy value less any bonus at the time we are told about the claim
    After one year from the cover start date

    - 101% of net premium(s) paid; or

    - the policy value at the time we are told about the claim;

    whichever is higher


    Any applicable fees and charges which apply to the policy will be deducted. The policy will end when we make this payment.

  • Q:What is the definition of TI?

    A:

    Terminal illness (TI), and terminally ill mean an illness, which in the opinion of the specialist involved or a specialist we have appointed, is expected to live for no more than 12 months, despite all reasonable medical treatment. However, we will exclude TI in the presence of human immunodeficiency virus (HIV).

  • Q:What are the exclusion(s) for TI 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.
Secondary Insured Option

  • Q:What is secondary insured option?

    A:

    You may appoint or remove a secondary insured before the death of the insured provided the following conditions are met:

    • the premium of this policy is paid only with cash;
    • no nomination of beneficiary has been made for this policy; and
    • there is no change to the ownership of this policy including assignment, bankruptcy and trust.

    The secondary insured becomes the insured of the policy only upon death of the insured for the remaining policy term. This policy can only have one insured at any point of time.

  • Q:What is the definition of secondary insured?

    A:

    The secondary insured must be yourself (before the age of 65 years old), your spouse (before the age of 65 years old), or your child or ward (before the age of 18 years old) at the time of exercising this option.

  • Q:How many times can I exercise the secondary insured option?

    A:

    You can exercise this option to appoint a secondary insured no more than three times.

Life Events Benefit

  • Q:What is the life events withdrawal benefit?

    A:

    During the minimum investment period, you may choose to exercise a free partial withdrawal if the insured experiences any of the following life events:

    • Turning 21 or 65;
    • Enrolled into tertiary education;
    • Marriage;
    • Divorce;
    • Death of spouse;
    • Becoming a parent;
    • Purchase of a residential property; or
    • Stay in hospital.

  • Q:What are the conditions that must be met to exercise the Life events withdrawal benefit?

    A:

    You must meet all the following conditions to exercise the free partial withdrawal:

    • You must exercise it within three months after the date any of the life event above occurs;
    • The life event must have taken place no earlier than 36 months after the cover start date of this policy; and
    • At our request, you must provide to our satisfaction, documentary proof of the life event.


    When you exercise the free partial withdrawal:

    • You may withdraw no more than 10% of the prevailing policy value and there will be no partial withdrawal charge for the amount withdrawn. The policy value of this policy will be reduced according to your request for withdrawal; and
    • Any Loyalty Bonus payable will not be affected by the withdrawal under this benefit.

    You can exercise this benefit once for each life event and no more than three times in total during this policy term. 

Future Premium Option

  • Q:What is future premium option?

    A:

    If you pay more regular premiums than are needed, we will treat them (without any interest) as regular premiums paid in advance for future months. The future premiums will be used to buy units in the funds chosen.

    We will not accept any future premiums that are more than 24 months ahead of its due date and it will not be used to buy units.

    We may change the way we treat these premiums by giving you notice.

Minimum Investment Period (MIP)

  • Q:What is the Minimum Investment Period (MIP)?

    A:

    MIP refers to the period you have chosen to pay regular premiums and this cannot be changed once the policy has been issued.

    You may choose to continue paying regular premiums after the MIP. 

Riders / Supplementary Benefits

  • Q:What are the rider(s) that can be attached to this plan?

    A:

    The following rider(s) can be added to Invest Flex:

    List of available rider(s)
    Payor Premium Waiver
    Enhanced Payor Premium Waiver
    Dread Disease Premium Waiver
    Cancer Premium Waiver (GIO)

  • Q:What are riders / supplementary benefits?

    A:

    Riders, also known as supplementary benefits, can be attached to a basic insurance policy to provide additional protection at lower cost.

Investment and Loyalty Bonuses

  • Q:What is the Investment Bonus?

    A:


    We will provide an investment bonus based on a percentage of the regular premiums paid for the first 12 months of the policy term as shown below. This percentage varies based on the MIP and annualised regular premiums.
    No investment bonus is provided for any top-up premiums.

    The investment bonus will be used to buy additional units in the funds chosen.

    MIP
    5 years 10 years 15 years 20 years
    Min
    $9,600    		 Min
    $6,000    		 Min
    $9,600    		 Min
    $3,600    		 Min
    $9,600    		 Min
    $2,400    		 Min
    $9,600
    6.0% 10.0% 25.0% 15.0% 45.0% 30.0% 60.0%

  • Q:What is the Loyalty Bonus?

    A:

    Starting from the 10th policy anniversary, an annual loyalty bonus of 0.5% will be provided on the next working day from the anniversary. The loyalty bonus is a percentage of the policy value based on the anniversary. It will be used to invest in the funds chosen.

    The policy must meet all the following conditions to receive the loyalty bonus.

    • This policy must not have ended when the loyalty bonus is provided.
    • No withdrawal is made, except withdrawals under life events withdrawal benefit, for the past 12 months before the date for the loyalty bonus payment.
Cash-in or Surrender Value

  • Q:Is there any cash-in or surrender value for this plan?

    A:

    Yes, your policy has a cash-in or surrender value.

    The value will be the amount available when your units are multiplied by the bid price, less any fees and charges we may take. 

    The cut-off time used to determine the pricing of units is 3.00 pm (Singapore time) on each business day (Monday to Friday, excluding weekends and public holidays).

    Buying a life insurance policy is a long-term commitment and an early termination of the policy usually involves high costs and the surrender value may be less than the total premiums paid.

Eligibility and Premium Payment

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

    A:

    No, you can only use cash to buy this plan.

  • Q:What is the minimum premium set for the policy?

    A:


    The minimum regular premium amounts under different payment frequencies are as follows:

    Minimum premium
    MIP/Payment Frequency 5 Years 10 Years 15 Years 20 Years
    Yearly $9,600 $6,000 $3,600 $2,400
    Half-Yearly $4,800 $3,000 $1,800 $1,200
    Quarterly $2,400 $1,500 $900 $600
    Monthly $800 $500 $300 $200

    In addition to the minimum regular premium requirements above, for each regular premium payment, the premium amount that is used to buy units in the fund you have chosen must not be lower than the amount as set out below:

    Monthly Quarterly Half-Yearly Yearly
    $50 per month $150 per month $300 per month $600 per month

  • Q:How can I increase my investment?

    A:

    You can increase your investment via ‘top-ups’ subject to a minimum amount set for each top-up and provided that you are not on premium holiday.

    We will use 100% of your top-ups to buy units (at the bid price) in the funds you choose.

    Top-ups do not form part of your regular premiums.

    A partial withdrawal charge/surrender charge is applicable if you withdraw/surrender your top-ups during the minimum investment period.

  • Q:Can I change the amount of regular premium?

    A:

    You may reduce the amount of your regular premium only from the 5th policy anniversary and we will make this change when your next regular premium is due. We may set a minimum amount if you change your regular premium.   

    You will have to pay a surrender charge if you reduce your regular premium during the MIP. You cannot change your regular premium when your policy is on premium holiday. 

  • Q:Can I backdate my policy?

    A:

    No, you cannot backdate your policy.

Pricing of Units and Dealing Deadline

  • Q:What is the meaning of forward pricing?

    A:

    Forward pricing means that the prices of your transacted funds will only be computed after the close of each dealing day.

    The prices will be updated on our website here after 2 working days from the close of each dealing day.

  • Q:What is the cut-off time used to determine pricing of the units?

    A:

    For cash policy, all transactions and premiums received by us by 3.00 pm (Singapore time) each day will be executed based on the unit prices of the same business day.

    For transactions submitted on a non-business day (i.e. Saturday, Sunday or public holiday), the execution will be based on the prices valued for the following business day.

  • Q:What is the price to be used to work out the policy value?

    A:

    The bid price will be used to work out the policy value.

  • Q:How do I monitor the fund prices?

    A:

    Our fund prices are updated daily on our website here.

  • Q:What is the percentage of regular premium used for investment?

    A:


    There is a percentage of your regular premiums that we use to buy units (at the bid price) in the funds you choose. This percentage varies based on the minimum investment period and number of months that regular premiums have been paid as shown in Table below. We will buy and pay for you the units in excess of 100% of your premiums as shown below.

    MIP Monthly regular premium (or its equivalent for other payment frequency) Percentage of regular premium to buy units
    5 years 1st – 120th 100%
    121st – 240th 102%
    241st onwards 105%
    10 years 1st – 120th 100%
    121st – 240th 102%
    241st onwards 105%
    15 years 1st – 120th 100%
    121st – 240th 102%
    241st onwards 105%
    20 years 1st – 120th 100%
    121st – 240th 102%
    241st onwards 105%

    We may change the percentage of regular premium to buy units in the funds you chose by giving you notice. This percentage will not be less than 100%.

Premium holiday

  • Q:What is a premium holiday?

    A:

    Premium holiday is a feature that allows you to stop paying your regular premium for a certain period of time for as long as the policy value is able to cover the fees and charges that continue to be due on the policy. Fees and charges are still applicable when your policy is on premium holiday.

  • Q:When does a premium holiday start?

    A:

    If you still have not paid the premium after the grace period, this policy will enter into a premium holiday. During this premium holiday period, you can stop paying premium provided the policy value is able to cover the fees and charges that continue to be due on the policy. The premium holiday charge may be payable during the premium holiday if it is within the MIP. The premium paying rider(s), if any, will end if this policy is on premium holiday.

    From the 5th policy anniversary, the premium holiday can be taken without any premium holiday charge up to the period according to the MIP shown below. After which, we will apply the premium holiday charge if your policy continues to be on premium holiday during the MIP.

    MIPPremium holiday period without
    premium holiday charge
    5 years0 months
    10 years60 months
    15 years60 months
    20 years120 months

    If applicable, we will take this premium holiday charge from your policy value by cancelling units at the bid price. You cannot make any top-ups during the premium holiday.

  • Q:Is there any insurance coverage provided during premium holiday?

    A:

    Yes, your insurance coverage will be provided during premium holiday.

  • Q:When does premium holiday end?

    A:

    Any premium holiday will end once you start paying your regular premiums again. When you start paying your regular premiums again after any premium holiday, we may not accept regular premiums for the period of the premium holiday that you have taken.

Partial withdrawal and surrender

  • Q:Can I make a partial withdrawal from my funds?

    A:

    Yes, you can make partial withdrawal from your funds subject to the following terms:

    • The minimum partial withdrawal amount is $500 each time; and
    • You need to hold a minimum policy value of $1,000 in aggregate (across all sub-funds) under the policy.

    We will apply a partial withdrawal charge for each partial withdrawal of the units in your fund(s) you make during the minimum investment period. There is no limit to the amount of partial withdrawals you may make.

  • Q:How much is refunded if I were to cancel the application during free look?

    A:

    Upon cancellation during free look, we will refund you:

    • the premiums you have paid; or
    • policy value (excluding bonus units) based on the applicable bid price on the date we receive the cancellation request, plus any applicable fees and charges deducted from the policy; 

    whichever is lower.

    The amount of refund will be less any medical fees and other expenses such as payments for medical check-ups and medical reports incurred by us.

    This policy will end when we make this refund.

Fees and charges

  • Q:Is the annual management fee same for all investment-linked policy (ILP) funds?

    A:

    The annual management fee is not the same for all ILP funds. The fee for each fund can be found in the Fund Report.

  • Q:How much is the policy fee?

    A:

    You must pay a policy fee based on the policy value shown in Table below. You must pay this fee on a monthly basis.

    Policy YearPolicy Fee
    From Year 1 to 10Annual rate of 2.5% of policy value
    From Year 11 onwardsAnnual rate of 0.6% of policy value

    The policy fee applies throughout the policy term and we will take this policy fee from the policy value of your policy by cancelling units at the bid price.

  • Q:How much is the insurance cover charge?

    A:

    From the 3rd policy anniversary, there is an insurance cover charge that must be paid monthly. This charge is based on the insured’s age, gender and the sum at risk at the time this charge is due. It will be taken from the policy value of the policy by cancelling units at the bid price. [ZY1] 

    However, if the sum at risk is zero or less (negative value), we will not apply the insurance cover charge for that month.

    When deciding on your claim, we will refund the monthly insurance cover charges that we have taken after the date you told us about the event giving rise to the claim.
     

  • Q:How much is the premium charge?

    A:

    We currently do not charge premium charge. However, we may change this at any time by giving you notice.

  • Q:Is there a surrender charge?

    A:

    There will be a surrender charge deducted from the policy value if you do the following during the MIP:

    • full surrender of the policy (including top-ups); or
    • decrease the regular premium.

    If the policy cash-in value after surrender charge is zero or less, there will be no benefit payout and the policy will end.

  • Q:Is there a partial withdrawal charge?

    A:

    There will be a partial withdrawal charge deducted for each partial withdrawal of the units in your fund(s) made during the MIP. The partial withdrawal charge will be deducted before the partial withdrawal amount is paid. Partial withdrawal charge is not applicable for the amount withdrawn under the life events withdrawal benefit. 

    After a partial withdrawal is made, the regular premium to be paid will remain the same.

    If the policy value of the units for a partial withdrawal after deducting the partial withdrawal charge falls below the required minimum policy value, your withdrawal request will not be accepted and you will not receive any payout.

  • Q:Is there a premium holiday charge?

    A:

    There will be a premium holiday charge on a monthly basis 30 days from the premium due date if:

    • You stop paying premiums; or
    • You request for a premium holiday;

    during the minimum investment period.

    From the 5th policy anniversary, the premium holiday can be taken without any premium holiday charge up to the period according to the MIP you have selected. After which, we will apply the premium holiday charge if your policy continues to be on premium holiday during the MIP.

    Premium holiday charge does not apply if the policy enters into a premium holiday after the minimum investment period.

Investment-Linked Policy (ILP) funds available for investment

  • Q:What investment-linked policy (ILP) funds are available for investment?

    A:


    The following ILP funds are available for investment as at 12 Sep 2023:

    Fund Category ILP Sub-Funds
    Asset Allocation Funds Global Diverse Series – Adventurous Fund
    Global Diverse Series – Balanced Fund
    Global Diverse Series – Managed Fund
    Core Funds Asian Bond Fund
    Asian Equity Fund
    Global Bond Fund
    Global Equity Fund
    Managed Funds Asia Managed Fund
    Specialised Fund Money Market Fund1
    Thematic Funds Asia Dynamic Return Fund
    Takaful Fund
    Global Technology Fund

    1Money Market Fund is only available for fund switching.

  • Q:Which investment-linked policy (ILP) fund offers distribution?

    A:

    Asia Dynamic Return Fund offers distribution.
    For funds that declare distributions, we will reinvest each distribution into the fund from which it is paid.

    The details for distribution, as at 12 Sep 2023, are as follows as:

    Distribution FeaturesAsia Dynamic Return Fund

    Amount of distribution


    Monthly distributions of up to 5% per annum of the net asset value.

    The distributions are not guaranteed.

    Declaration DatesThe declaration dates are usually set as the third last business day of each month.

  • Q:What options are available for distribution?

    A:

    For all funds that declare distributions, we will reinvest each distribution into the fund from which it is paid. We do this by buying units at the bid price (unless we say otherwise) on the payout date as set out in the ‘Semi Annual Fund Report’ or ‘Annual Fund Report’, or its equivalent. Units reinvested is managed as part of your unit holdings in the policy. To avoid doubt, for any withdrawals including funds that declare distribution, fees and charges may apply.

    From the 5th policy anniversary onwards, if the distribution amount for a fund meets the minimum amount we tell you, you can choose to reinvest the distribution or receive the distribution as a payout for each fund. A combination of payout and reinvestment within a fund is not allowed.

    The latest instruction, if any, received by Income before the Declaration Date will be used to manage your distribution.

    The default option for distribution is to reinvest them at bid price into the respective fund.
    If you wish to receive your distribution as a payout, you will need to notify us through your preferred mode of contact least 30 days before the Declaration Date. We will ask you to complete and submit the “Alteration form for ILP Policy”.

    However, any distribution below the minimum distribution amount we tell you has to be reinvested and receiving it as a payout is not allowed.

    The unit prices for reinvestment will be determined on payout date. 

  • Q:How can I obtain more information on your investment-linked policy (ILP) funds?

    A:

    You can refer to the Fund Report for more information.

  • Q:How many funds can I select for investment?

    A:

    There is no restriction on the number of funds if you are able to meet the minimum investment amount for each selected fund as set out below:

    Regular Premium / Recurring Top-ups:

    MonthlyQuarterlyHalf-yearlyYearly
    $50 per month$150 per quarter$300 per half-year$600 per year

    Single Top-ups:

    The investment amount to buy unit in the funds you have chosen must not be lower than $1,000.

  • Q:Can I switch funds?

    A:

    Yes, you can switch funds subject to the following terms:

    i. We may tell you to leave a minimum amount in that fund if you are not switching out of a fund completely; and

    ii. We may charge you a small amount, set a minimum amount for each switch and/or limit the number of switches you can carry out.

Policy loan

  • Q:Can I take a loan from this policy?

    A:

    No, you cannot take a loan from this policy.