Frequently Asked Questions
Q:What is TermLife Solitaire?A:
TermLife Solitaire is a non-participating, regular premium term plan that provides high insurance coverage for a limited period of time. It provides protection against death and terminal illness (TI) during the term of the policy. This policy cannot be cashed in.
Death & Terminal Illness Benefit
Q:What is payable under the death beneﬁt?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:What are the 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 payable under the terminal illness beneﬁt?A:
Upon diagnosis of the insured with a terminal illness during the policy term, the sum assured will be paid. The policy will end when we make this payment. We will not pay any further benefits.
Q:What is the definition of terminal illness?A:
Terminal illness 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:What are the exclusion(s) for terminal illness 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.
Riders / Supplementary Benefits
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.
Q:Can Riders / Supplementary Benefit be added to this plan?A:
The following riders / supplementary benefits can be added to TermLife Solitaire:
List of available riders Hospital CashAid Disability Accelerator Total Protect Payor Premium Waiver Enhanced Payor Premium Waiver Dread Disease Premium Waiver
Q:When will the riders cease?A:
The riders will be automatically renewed at the end of its contract term, subject to the conditions as stated in the policy document. The renewal premiums are calculated based on the attained age of the Insured at time of renewal.
The rider will cease immediately when the basic policy is terminated.
Cash Value, Bonuses & Maturity Benefit
Q:Is there any cash value for this policy?A:
No, there is no cash value for this policy.
Q:Is this policy eligible for any bonus?A:
No, this policy is not eligible for any bonus.
Q:Is there a surrender value for my policy?A:
No, there is no surrender value.
Eligibility and Premium Payments
Q:What are the minimum and maximum entry ages for the policyholder?A:
Minimum Entry Age (last birthday) Maximum Entry Age (last birthday) 16* N.A
*Parents cannot be the policyholder on their child who are 18 years old (age last birthday) and above at the point of application.
Q:What are the minimum and maximum entry ages for the insured?A:
Policy Term1 Minimum Entry Age (last birthday) Maximum Entry Age (last birthday) 10, 15, 20, 25 18 74 30 18 70 35 18 65 40 18 60 Up to age 64 18 54 Up to age 74 18 64 Up to age 84 18 74 Up to age 100 18 74
1 Subject to the maximum coverage age of 100 ALB
Q:What is the minimum and maximum sum assured for this policy?A:
The minimum and maximum sum assured are $500,000 and $20,000,000 per life respectively. The insured may choose any amount in multiples of $10,000. The insured cannot be covered for more than $20,000,000 sum assured by buying multiple policies.
Q:What are the premium payment frequencies available?A:
The premiums can be paid monthly, quarterly, half-yearly or yearly.
Q:What are the policy terms available?A:
You can choose to be insured between a period of 10 to 40 years, in multiples of 5 years, or up to ages 64, 74, 84 and 100 (last birthday). A minimum policy term of 10 years is required.
Q:Is the premium payable for this policy guaranteed?A:
Premium rates are guaranteed and level throughout the premium payment term.
Q:Can I backdate my policy application?A:
Backdating is allowed if all of the following conditions are met:
- The backdating is for a traditional individual (savings or protection) life policy paying regular premium or single premium. Backdating for investment-linked policy and annuity policy is not allowed;
- The backdating results in a lower premium or higher minimum protection value due to a lower age; and
- The policy is backdated to a date up to one day before the Insured’s last birthday and it must be within 6 months from date of receipt of application by Income.
Backdating of policy to a date before the launch date of the main plan or rider is not allowed. For any backdating of policy, the waiting period will still be based on the cover start date.