Star Secure Pro: Protecting Yourself & Your Children’s Futures
As parents, much of our energy and actions goes towards securing a happy, healthy life for ourselves and, more importantly, our kids, but sometimes you get dealt a hand of cards you couldn’t have predicted.
Often, unexpected illnesses or health problems are accompanied by great financial strain and stress on the individual, the spouse and the children of the affected person.
That’s why ensuring you are adequately insured is so important - because the last thing any parent wants to do is compromise on their children’s happiness.
But getting protected is easier said than done. How much protection is really enough? Who knows what new diseases or viruses are out there waiting to strike? Without a crystal ball, it’s hard to tell what level of protection is going to be sufficient, or which areas of coverage you will need in future.
That’s where Income’s Star Secure Pro can help. Not only does it allow you to layer on more protection against the usual death, critical illness (also known as dread diseases) and total and permanent disability if you need it, but it can even protect you (and your family’s happiness) from other illnesses still undiscovered.
What is Star Secure Pro and how does it protect you?
In a nutshell, Star Secure Pro is a whole life insurance plan that provides you with protection in the event of death, total and permanent disability, and terminal illness.
The whole life plan is customisable, choose to multiply your coverage by up to 500%1,2 of the sum assured up to age 75 or 80. With such high protection coverage, you can have peace of mind knowing that you won’t have to make the financial decision between the necessities of daily life, or treatment costs, against the little luxuries or things that brings your family happiness. The last thing you would want to do in these situations is to put a pause on what makes your children happy – Be it the happy meals at McDonalds or the piano lesson your child loves. Having a life insurance plan ensures you do not have to make these painful decisions.
Advanced Life Accelerator rider
On top of this base of protection, you can enhance your coverage further with the Advanced Life Accelerator rider3. Besides offering protection against 56 advanced stage critical illnesses, this rider boasts the unique Major Impact Benefit4.
With this Benefit4, you’re protected in the event that you undergo surgery or suffer from an infection and are required to stay in the intensive care unit (ICU) of a hospital for 5 days or more in one hospital admission, before the policy anniversary immediately after you reach the age of 85.
So what, you ask?
Well, with so many new diseases/infections coming up these days, it’s not only the illnesses you know of that you need protection from but also the unknown5. Take for instance, COVID-19, which was only discovered in December 2019 and is now a global pandemic.
With the Major Impact Benefit4, you will no longer have to worry that your cover is only limited to certain diseases under your policy. You can focus on your recovery, knowing that it works like a safety net to ensure your family and family finances will be well protected.
Early Life Accelerator rider
To ensure you receive the best possible care from the moment an illness strikes, you can boost your coverage to a total of 152 medical conditions with the Early Life Accelerator rider6, enabling you to receive coverage of up to $350,0006 for early and intermediate stage critical illness. You’ll also receive protection for five prominent mental illnesses: Major Depressive Disorder, Obsessive Compulsive Disorder (OCD), Schizophrenia, Bipolar Disorder and Tourette syndrome.
What’s more, thanks to the Advanced Restoration Benefit7, there is extra protection for stroke with permanent neurological deficit, major cancer or heart attack of specified severity after a claim for an early or intermediate stage critical illness is made. The benefit will restore 20% of the rider coverage 2 years after the claims for an early or intermediate stage critical illness which means you’ll continue to stay covered against 3 of Singapore’s top health threats.
Furthermore, this rider comes with Special Therapy Benefit8 so you get to receive extra coverage for cell, tissue and gene therapy in the event of a catastrophic cancer such as leukemia, lymphoma and stage 4 malignant tumour, which is a first in Singapore.
Flexibility and other benefits
Besides offering protection with a minimum protection value of up to 500%1,2 of the sum assured up to age 75 or 80, Star Secure Pro also offers up to an additional 30% of the sum assured in the event of accidental death2,9 (before the anniversary immediately after the age 70).
The whole life plan is highly customisable, with a wide range of premium terms available – 5, 10, 15, 20, 25 and 30 years or up to the age of 64 – giving you flexibility in that respect as well.
In this time of economic uncertainty, it may reassure you to know that Star Secure Pro also offers a one-time Retrenchment Benefit2,10. If you are retrenched and is unemployed for 3 straight months involuntarily, you would not have to pay the premiums for your basic policy for up to 6 months, while still continuing to receive the same coverage during that period.
And if you do make it to old age with no claims on the plan, the cash value from the policy is accessible to you making it easy if you’d like the option of some extra retirement income.
Star Secure Pro is the ultimate way to protect your and your family’s happiness
Star Secure Pro ensures the highest levels of protection for what matters to you – your family’s happiness. Its flexibility and comprehensive coverage options make it the ideal tool to make sure you never have to choose between what you need and the little things that make your family happy.
Speak to an Income Advisor today to see how Star Secure Pro can work for your needs and start protecting you and your loved ones’ happiness today.
1 Minimum protection value means a percentage of the sum assured shown in the policy schedule. The minimum protection value is applicable before the anniversary immediately after the insured reaches the age of 75 or age of 80. The applicable age will be based on the option selected by you as shown in the policy schedule. You cannot change the minimum protection value and its applicable age which you chose at the start of the policy.
2 Star Secure Pro includes a non-participating compulsory rider, Star Secure Pro – Protection Benefit. This rider pays accidental death benefit, Retrenchment Benefit, Family Waiver Benefit, and part of the minimum protection value. Please refer to the policy conditions for further details.
3 Any payment under this rider will form an accelerated payment, and reduce the sum assured and any bonuses of this rider, its basic policy and other accelerated riders by the same amount that we pay under this rider. We will not pay the dread disease benefit if the insured is diagnosed with the disease within 90 days from the cover start date for major cancer, heart attack of specified severity, coronary artery by-pass surgery, angioplasty and other invasive treatment for coronary artery or other serious coronary artery disease. For angioplasty and other invasive treatment for coronary artery we will pay higher of 10% of this rider’s sum assured and corresponding pro-rated bonuses of the basic policy or 10% of the rider’s minimum protection value (when MPV applies), subject to a S$25,000 (not including bonus). Please refer to the policy conditions for further details.
4 We will pay no more than $100,000 (not including bonuses) for each insured (no matter how many policies we have issued to cover each insured). The surgery or infection and the stay in the ICU must be directly due to the same cause and confirmed as necessary medical treatment. This benefit is not payable if your claim arise from the insured suffering symptoms of, had investigations for, or was diagnosed with illness any time before or within 90 days from the cover start date (except for accident). Claim under the Major Impact Benefit will reduce the sum assured and any bonuses of this rider, its basic policy and other accelerated riders of its basic policy by the same amount that we pay under this rider. This benefit can only be claimed once. Please refer to the policy conditions for further details.
5 A waiting period of 90 days will apply from the cover state date for specified conditions in Advanced Life Accelerator rider and Major Impact Benefit. Please see policy contract for details.
6 Any payment made for early and intermediate stage dread disease benefit under this rider will form an accelerated payment, and reduce the sum assured and any bonuses of this rider, its basic policy and other accelerated riders by the same amount that we pay under this rider. We will not pay this benefit if the insured suffered symptoms of, had investigations for, or was diagnosed with the disease at any time before or within 90 days from the cover start date for major cancer, heart attack of specified severity, other serious coronary artery disease, or coronary artery by-pass surgery. Please refer to the policy conditions for further details. We will pay no more than $350,000 (not including bonuses) for each insured (no matter how many policies we have issued to cover each insured).
If you are successful in claiming the early and intermediate stage dread disease benefit, we will not pay future claims on Special and Mental Benefit, and Juvenile Benefit.
You will stop making premium payments on this rider. The rider will continue to apply for the Advanced Restoration Benefit and Special Therapy Benefit during this period even though you are not paying the premiums.
7 You can only make a claim under the Advanced Restoration Benefit if you have previously succeeded in claiming the early and intermediate stage dread disease benefit and if your basic p olicy has not ended.
We will not pay this benefit if the insured was diagnosed with the disease within 24 months after the date of diagnosis or surgical procedure, whichever applies, of any of the early or intermediate stage dread diseases. The insured must survive for at least seven days from the date of diagnosis, or after having the medical procedure, before we pay this benefit. Please refer to the policy conditions for further details.
8 We will only pay this benefit if the insured is diagnosed with catastrophic cancer which require the insured to undergo cell, tissue and gene therapy. For policies we have issued that have Special Therapy Benefit, we will pay no more than S$50,000 (excluding bonuses) for each insured (no matter how many policies we have issued to cover each insured). We will not pay this benefit if the insured suffered symptoms of, was investigated for, or was diagnosed with the disease any time before or within 90 days from the cover start date. We will only pay this benefit if the basic policy has not ended.
9 Accidental death benefit is payable only if the death was a result of an accident (before the anniversary immediately after insured reaches the age of 70), we will pay an additional 30% of the sum assured, on top of the death benefit, as long as he or she was not taking part in a restricted activity at the time of the accident. If the insured was taking part in a restricted activity at the time of the accident, we will only pay an additional 10% of the sum assured, on top of the death benefit. We will pay this benefit only if the death happens within 365 days of the accident.
10 You must have paid at least 6 months’ premiums, your retrenchment must have taken place no earlier than 6 months after the cover start date and you have not been able to find employment for three months in a row after being retrenched. Only premiums on the basic policy and Star Secure Pro – Protection Benefit compulsory rider (excluding any riders attached) will be waived up to 6 months. This benefit can only be claimed once. Please refer to the policy contract for further details.
This article is meant purely for informational purposes and should not be relied upon as financial advice. The precise terms, conditions and exclusions of any Income Insurance products mentioned are specified in their respective policy contracts. For customised advice to suit your specific needs, consult an Income Insurance advisor. This advertisement has not been reviewed by the Monetary Authority of Singapore.
These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Income Insurance or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org. sg).
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