DIRECT Star Protect

DIRECT Star Protect is a participating regular premium whole life plan that provides protection against death, terminal illness and total and permanent disability (before the age of 65).

This is a Direct Purchase Insurance (DPI) product with no financial advice provided. The product is only available if you buy direct from us, it is not available for sale through all other distribution channels of Income.

If the insured dies, we will pay the sum assured and bonuses.

The policy will end when we make this payment.

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.

We will also not pay this benefit if the insured has a material pre-existing condition which you did not tell us about when you applied for this policy.

If the insured becomes terminally ill, we will pay the sum assured and bonuses.

The policy will end when we make this payment

Terminal illness (TI), and terminally ill mean 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).

Registered Medical Practitioner means a doctor qualified by degree in western medicine who is legally licensed in Singapore or have the qualifications recognised by the Singapore Medical Council.

We will not pay this benefit if your claim arises from:

• deliberate acts such as self-inflicted injuries, illnesses or attempted suicide; or

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

• the effects of alcohol, drugs or any dependence.

We will also not pay this benefit if the insured has a material pre-existing condition which you did not tell us about when you applied for this policy.

If the insured becomes totally and permanently disabled (before the age of 65), we will pay the sum assured and bonuses.

The policy will end when we make this payment.

Total and permanent disability (TPD) means the complete and continuous inability of the life insured at that time and at all times thereafter to engage in any business or occupation or perform any work of any kind for remuneration or profit, or total physical loss. 

 Total physical loss means:

• the total and irrecoverable loss of sight of both eyes;

• the loss by complete severance or total and irrecoverable loss of use of both limbs at or above the wrist or ankle; or

• the total and irrecoverable loss of sight of one eye and the loss by complete severance or total and irrecoverable loss of use of one limb at or above the wrist or ankle.

Under the definition of TPD, the insured must be unable to carry out any occupation. We do not pay if the insured is merely unable to perform the same job as before, or is unable to perform a job to which his or her training, education or experience is suited for.

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.

We will also not pay this benefit unless the insured is certified by a registered medical practitioner to have been totally and permanently disabled for at least six months in a row.

This rider can be attached to DIRECT Star Protect policy to provide additional dread disease cover. Application is subject to underwriting and additional premiums are payable for this rider to be added.

If the insured is diagnosed with a specified dread disease (except angioplasty and other invasive treatment for coronary artery), we will pay the sum assured. We will also pay any bonuses of the main plan. This rider will end after we make this payment.

If the insured undergoes angioplasty and other invasive treatment for coronary artery, we will pay 10% of the sum assured, subject to a maximum of S$25,000. We will also pay any corresponding bonuses of the main plan. After this payment, we will reduce the sum assured of this rider and the main plan. We will work out any future premiums or claims based on the reduced sum assured.

We will not pay this benefit if your claim arises from:

• deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;

• deliberate misuse of drugs or alcohol;

• acquired immunodeficiency syndrome (AIDS), AIDS-related complex or infection by human immunodeficiency virus (HIV), except as stated under HIV due to blood transfusion and occupationally acquired HIV; or

• major cancer, heart attack, coronary artery by-pass surgery, or angioplasty and other invasive treatment for coronary artery, where the insured was diagnosed with the disease within 90 days from the cover start date. For coronary artery by-pass surgery and angioplasty and other invasive treatment for coronary artery, the date of diagnosis shall refer to the date of diagnosis of the medical condition that leads to the surgical procedure, and not to the date of surgical procedure.

The benefit is also not payable if the insured has a material pre-existing condition which was not disclosed upon application of this policy. 

Yes, your policy will have a cash value when premiums have been paid for at least two years.

No, there is no cash value for the rider.

Yes, there are two types of bonuses:

i. “Annual” or “reversionary” bonus is added to the policy each year.

ii. “Terminal” or “special” bonus is an extra bonus that we pay at the time of claim or when you surrender your policy.

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

Bonus pay-outs to policyholders are primarily influenced by the performance of the Life Participating Fund (Par Fund). The Fund’s performance is predominantly driven by factors such as the investment returns of the Par Fund, its expenses and claims experience. Aligned to industry practice, Income is safeguarding policyholders’ interest by allocating 90% of Par Fund surpluses to them. This means for every $9 distributed to policyholders, only a maximum of $1 is allocated to shareholders.

Yes, you can take a policy loan on your main plan based on the prevailing terms and conditions.

We will take all loans and their interest from any amount we may be due to pay under this policy. If at any time the amount of the loans and interest is more than the cash value, this policy will end.

A policy loan cannot be taken on the rider, if a rider is added to the main plan.

The minimum sum assured for DIRECT Star Protect is S$50,000 per policy and the total maximum sum assured per insured is S$200,000

The maximum sum assured per insured for all DPI products, regardless of the number of policies purchased with Income, is S$400,000; with a sub-limit of S$200,000 for Whole life DPI.

You can choose to pay your premiums monthly, quarterly, half-yearly or yearly.

No, this product is only available to customers who are buying direct from us without any financial advice.

You can either:

1. Apply online via LIME here. Online application is not applicable if you are considered a Selected Client (refer to the relevant FAQ below for the definition of Selected Client).
2. Apply in person at any of our specified Client Advisory Centres.

A Selected Client is one who meets at least 2 of the following criteria:

• Aged 62 or older;

• Not proficient in spoken or written English; or

• Below GCE ‘O’ Level or ‘N’ Level certifications, or equivalent academic qualifications.

If you are considered a Selected Client, you need to apply for DPI in the presence of a Trusted Individual.

A Trusted Individual is defined as an individual who meets all of the following criteria:

• At least aged 18;

• Possess at least GCE ‘O’ or ‘N’ level certifications or equivalent academic qualifications;

• Be proficient in spoken or written English; and

• Be a person who has the trust of the Selected Client.

You may refer to our branch information here.

There is a 14-day free-look period during which you can evaluate if the policy meets your needs. In the event that you decide to give up the policy within the free-look period, we will refund you the premiums paid (less any incurred medical examination expenses).

The 14-day free-look period will start seven days after we have posted the policy.