Frequently Asked Questions

WealthLink

Product Coverage

• Q:What is WealthLink?

  A:

  WealthLink is a single 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. 

Death and Accidental Death benefit

• Q:What is the death and accidental death benefit?

  A:

  We pay either the death or accidental death benefit as follows:

  Death benefit

  If the insured dies during the term of this policy, we will pay policy value at the time we are told of the claim.

  Accidental death benefit

  If the insured dies due to an accident (before the age of 75), we will pay:
  
  - 105% of all net premium(s); or
  - the policy value at the time we are told of the claim;

  whichever is higher.

  We will pay the Accidental death benefit only if the death happens within 365 days of the accident. Otherwise, we will pay only the Death Benefit.

  We will take off any fees and charges which apply to your policy.

  This policy will end when we make this payment.

• Q:What is the exclusion for death benefit?

  A:

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

  For suicide within one year from the cover start date, we will refund only the cash-in value and the policy will be completely free of all legal effect.

• Q:What is the exclusion for accidental death benefit?

  A:

  We will not pay the accidental death benefit if it is caused directly or indirectly by:
  
  - deliberate acts such as self-inflicted injuries, suicide or attempted suicide;

  - unlawful acts, provoked assault or deliberate exposure to danger;

  - the effects of alcohol, drugs or any dependence;

  - illnesses, psychological conditions or eating disorders;

  - heat stroke;

  - a bad reaction to drugs or medication;

  - the effects of viruses (for example, dengue), bacteria or diseases;

  - the negative effects or complications of medical and surgical care;

  - treatments aimed at improving appearance, such as cosmetic surgery or any treatment relating to a previous cosmetic treatment;

  - radiation or contamination from radioactivity;

  - being in any aircraft, except as a fare-paying passenger in a commercial aircraft, or during military operations in peacetime;

  - military, air force or naval operations, except when carried out in peacetime;

  - warlike operations (whether war is declared or not), war, invasion, riot or any similar event;

  - an accident which happens outside of Singapore, if the insured has been outside Singapore for more than 180 days in a row at the time of the accident; or

  - an act of terrorism.

Riders / Supplementary Benefits

• Q:Can I add riders to this plan?

  A:

  No, you cannot add riders for this plan.

Cash-in or Surrender Value

• Q:How much of my premiums will be used for investment?

  A:

  We will use your premiums less the premium charge to buy units at bid price in the funds you choose.

  The premium charge is set at 3.5% of your initial single premium and for each top-up. We may change the premium charge at any time by giving you notice.

• 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) to buy this plan?

  A:

  No, you can only use cash or Supplementary Retirement Scheme (SRS) to buy this plan.

• Q:Can I use SRS to buy this plan?

  A:

  Yes, you can use SRS to buy this plan subject to prevailing SRS terms and conditions.

• Q:What is the minimum and maximum premium set for this plan?

  A:

  The minimum single premium investment is $10,000 per policy, with a minimum of $2,500 allocated to each selected fund.

  There is no maximum limit set for investment, but it will be subjected to an assessment of your financial condition.

• Q:Can I backdate my policy?

  A:

  No, you cannot backdate your policy.

• Q:How can I increase my investment?

  A:

  You can increase your investment via an ad hoc or recurring single premium top-up.

  The minimum premium is $2,500 per top-up. If you wish to top-up into more than one fund, the premium amount allocated into each of the selected fund must be at least $1,000.

  The top-up premium will be taken into account for the computation of insurance coverage.

  If you are doing a recurring single premium top-up, you can have a choice of topping up monthly, quarterly, half-yearly or yearly.

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 17 Jan 2023:

  Asset Allocation Funds	Core Funds	Managed Funds	Specialised Fund	Thematic Funds
  Global Diverse Series (Adventurous) Global Diverse Series (Balanced) Global Diverse Series (Managed)	Asian Bond Fund Asian Equity Fund Global Bond Fund Global Equity Fund	Asia Managed Fund	Money Market Fund1	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 all funds that declare distributions, we will reinvest each distribution into the fund from which it is paid.

  The details for distribution, as at 17 Jan 2023, are as follows as:

  Distribution Features	Asia 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 Dates	The declaration dates are usually set as the third last business day of each month.

  
  

• Q:What options are available for distribution?

  A:

  You can choose to encash or reinvest the distribution for each fund. A combination of encashment and reinvestment option 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 encash the distribution, you will need to either:

  i. indicate your choice in the application form; or

  ii. notify us in writing at least 30 days before the Declaration Date. Distribution payout would be made within 45 days from the Declaration date.

  However, any distribution below S$50 has to be reinvested and encashment is not allowed. Also, any distribution from funds purchased using SRS, will also be reinvested.

  The unit prices for reinvestment will be determined on payout date, which would be within 45 days from the Declaration 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 of $2,500 set for each selected fund.

• 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.

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:

  The following guideline applies:

  - 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 SRS policy, all transactions 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.

Fees and Charges

• Q:How much is the premium charge?

  A:

  We will deduct a premium charge of 3.5% from both the initial single premium and for each and every top-up.
  
  We may change the premium charge at any time by giving you notice.

• 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:

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

• Q:How much is the insurance cover charge?

  A:

  We do not charge for insurance cover. However, we may change this at any time by giving you notice.

Partial Withdrawal and Surrender

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

  A:

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

  i. The minimum partial withdrawal amount is $500 each time; and

  ii. You need to hold a minimum value of units worth $1,750 under each selected fund or $3,500 in aggregate (across all funds) under the policy.

• Q:How is the withdrawal value computed?

  A:

  The formula for computation is as follows:

  Withdrawal value = Number of units withdrawn from selected fund × Bid price of the selected fund

• Q:Will my insurance coverage be reduced as a result of partial withdrawal?

  A:

  Yes, your insurance coverage will be reduced.

• 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

  - the value of your policy units (excluding bonus units, if any) based on the applicable bid price at the time we receive your cancellation request, less any applicable fees and charges.

  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.

Policy Loans

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

  A:

  No, you cannot take a loan from this policy.