So Steady

This information is not to be construed as an offer or solicitation for the subscription, purchase or sale of any investment-linked plan (ILP) sub-fund. The information and descriptions contained in this material are provided solely for general informational purposes and do not constitute any financial advice. It does not have regard to the specific investment objectives, financial situation and particular needs of any persons. The precise terms, conditions and exclusions of these plans are specified in their respective policy contract.

Investments are subject to investment risks including the possible loss of the principal amount invested. Past performance, as well as the prediction, projection or forecast on the economy, securities markets or the economic trends of the markets are not necessarily indicative of the future or likely performance of the ILP sub-fund. The performance of the ILP sub-fund is not guaranteed and the value of the units in the ILP sub-fund and the income accruing to the units, if any, may fall or rise. A product summary and product highlights sheet(s) relating to the ILP sub-fund are available and can be obtained from your insurance advisor or online at www.income.com.sg/funds. A potential investor should read the product summary and product highlights sheet(s) before deciding whether to subscribe for units in the ILP sub-fund.

All our products are developed to benefit our customers but not all may be suitable for your specific needs. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance advisor. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. Buying a life insurance plan is a long-term commitment on your part. If you cancel your plan prematurely, the cash value you receive (if applicable) may be zero or less than the premiums you have paid for the plan. If you find that this plan is not suitable after purchasing it, you may terminate it within the free-look period, and obtain a refund of premiums paid. We may recover from you any expense incurred in underwriting this plan (subject to the respective products’ terms and conditions). For ILP, the refund amount is based on the market value of your selected funds and this could mean that you get back less than the original investment.

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 or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Footnotes

ft1 Only yourself (policyholder 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)  can  be  the  secondary  insured  at  the  time  of  exercising  this  option. You can exercise  this  option to appoint a secondary insured no more than three times, and 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. 

ft2 For regular premium policy, Gro Retire Flex Pro includes Gro Retire Flex Pro – Protection Benefit, a non-participating rider, which includes the Accidental Death Benefit, Disability Care Benefit and Retrenchment Benefit. Please refer to the policy contract for further details.

ft3 If the insured dies as a result of an accident (before the anniversary immediately after the insured reaches the age of 70), we will pay an additional 105% of all net premium(s) paid, on top of the death benefit, as long as the insured 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 63% of all net premium(s) paid, on top of the death benefit. We will pay this benefit only if the death happens within 365 days of the accident. Please refer to the policy contract for further details.

If you have appointed a secondary insured before the insured dies as a result of an accident (before the anniversary immediately after insured reaches the age of 70), we will not pay this benefit. Upon the accidental death of the insured, the secondary insured becomes the insured and the basic policy and its rider, Gro Retire Flex Pro – Protection Benefit, will continue.

ft4 Disability Care Benefit will apply upon diagnosis of the insured with any one of the conditions – loss of use of one limb, loss of speech, loss of sight of one eye and loss of hearing, arising from accidental injury or sickness during the term of the Gro Retire Flex Pro – Protection Benefit rider. The benefit will be paid according to the date of diagnosis. There are certain conditions under which no benefits will be payable. Please refer to the policy contract for the definition of each condition and the circumstances in which a claim can be made.

ft5 If the insured survives at the end of two years from the policy entry date and premiums for this policy have been paid for at least two years, you will start to receive cash payouts after the end of the 2^nd policy year. The cash payout consists of a yearly cash benefit, which is 3% of your sum assured, and a non-guaranteed cash bonus, which is up to 5.40% of your sum assured (based on a 5 year premium term for a policy term till age 120 and the assumption that the Life Participating Fund earns a long-term average return of 4.25% per annum). The non-guaranteed yearly cash bonus is dependent on the premium term and policy term, and may vary according to the future performance of the Life Participating Fund. If the Life Participating Fund earns a long-term average return of 3.00% per annum, the non-guaranteed cash bonus will be up to 2.97% of the sum assured (based on a 5 year premium term for a policy term till age 120). The policyholder will receive the final yearly cash benefit and cash bonus as a lump-sum with the maturity benefit if the insured is still alive and the policy has not ended. The policy will end once this payment is made.

If the sum assured of the policy is at least $80,000, the yearly cash payouts can be received in monthly payments. The amount of each monthly cash benefit payment will be worked out. The policyholder cannot change the payout frequency once the first cash benefit is paid.

ft6 Capital guarantee on Gro Cash Flex Pro excludes any optional rider(s), on the condition all premiums are paid, and that the policy is held until maturity date with no policy alterations or claims made during the entire policy term.

ft7 Gro Saver Flex Pro pays 105% of all net premium(s) paid or 101% of the cash value, whichever is higher in the event of the insured’s death or terminal illness. Net premium(s) means the regular or single premium amount as shown in the policy schedule, or the reduced regular or single premium amount if a part of this policy has been cashed in earlier. If you change the frequency of your regular premium amount, we will use the then current regular premium amount to work out all net premium(s) paid. Net premium(s) do not include the premiums paid on riders.

ft8 Capital guarantee on Gro Saver Flex Pro excludes any optional rider(s), on the condition all premiums are paid, and that the policy is held until maturity date with no policy alterations or claims made during the entire policy term. This only applies to single premium and regular premium policies paid yearly.

ft9 If the insured survives at the end of 3 years from the policy entry date, you will start to receive cash payouts starting from the 37th policy month after the policy entry date. The monthly cash payout consists of the guaranteed monthly cash benefit and the non-guaranteed monthly cash bonus. The guaranteed monthly cash benefit is 0.109% of the net single premium, while your non-guaranteed monthly cash bonus is up to 0.2035% of your net single premium (based on the assumption that the Life Participating Fund earns a long-term average return of 4.25% per annum). Over 12 months, you would receive 1.308% of the net single premium as guaranteed cash benefit and up to 2.40% of the net single premium as non-guaranteed cash bonus. The non-guaranteed monthly cash bonus may vary according to the future performance of the Life Participating Fund. If the Life Participating Fund earns a long-term average return of 3.00% per annum, the non-guaranteed monthly cash bonus will be up to 0.104% of the net single premium. You will continue to receive your monthly cash payout at subsequent policy months if the insured is still alive and the policy has not ended. Net single premium means the single premium amount as shown in the policy schedule, or the reduced single premium amount if a part of the policy has been cashed in earlier.

ft10 Interest rate of 3.00% per annum is not guaranteed. Prevailing interest rate at the point of deposit will be determined by us.

ft11 Only yourself (policyholder 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) can be the secondary insured at the time of exercising this option. You can exercise this option to appoint a secondary insured no more than three times, and 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 this policy only upon death of the insured for the remaining policy term. The policy can only have one insured at any point of time.

ft12 The original insured means the insured that was appointed when the policy was issued.

ft13 During the term of this policy, if the insured becomes terminally ill or dies, before the anniversary immediately after the insured reaches the age of 85, 100% of sum assured and 100% of bonuses or minimum protection value of the basic policy, whichever is higher will be paid. The minimum protection value of the basic policy depends on the age of the insured at policy entry date (age last birthday), and it is up to 320% of the sum assured. Minimum protection value means a percentage of the sum assured shown in the policy schedule. If the insured becomes terminally ill or dies, on or after the anniversary immediately after the insured reaches the age of 85, 100% of sum assured and 100% of bonuses will be paid. Bonus rates are not guaranteed and will vary according to the future performance of the Life Participating Fund.

ft14 Provenance Solitaire includes a non-participating compulsory rider, Provenance Solitaire – Protection Benefit. This rider pays part of the minimum protection value. Please refer to the policy conditions for further details.

ft15 Guaranteed cash value of 80% of your single premium. Single premium refers to the premium amount before any additional premiums charged due to medical conditions.

ft16 If the insured becomes terminally ill or dies during the term of the policy, we will pay the sum assured. The policy will end when we make this payment.

ft17 We will renew your policy for the same policy term at its prevailing sum assured only if your policy has not ended as a result of a claim during its term and the insured is age 74 (last birthday) and below. However, if the original policy term is not a multiple of five years, or if the original policy term is a multiple of five years but the anniversary immediately after the insured’s 100th birthday falls within the next policy term, we will renew it for a shorter term that is a multiple of five years, as long as the minimum term is 10 years, such that the renewal term will neither go beyond the original policy term, nor the anniversary immediately after the insured’s 100th birthday. We will work out the renewal premium based on the policy’s renewal term, sum assured and the age of the insured at the time the policy is renewed.

ft18 This benefit limit is applicable under Plan 4. It is subject to the scale of compensation as shown in the Policy Contract. We pay this benefit if you become permanently disabled within 12 months from the date of accident.

ft19 This plan does not cover infectious disease diagnosed within 14 days from the policy start date as well as any infectious disease which has been announced as:
(a) an epidemic by the health authority in Singapore or the Government of the Republic of Singapore; or
(b) a pandemic by the World Health Organisation (WHO), from the date of such announcement until the epidemic or pandemic ends.

ft20 Building means the following:
For Housing Development Board (HDB) flats, condominiums, apartments or cluster houses, it will include the building structure (but not the foundations), fixtures and fittings based on HDB’s or the property developer’s standard specifications. This means we will not cover areas you do not own or which are not provided just for your use. For example, this can include shared areas such as corridors, car parks, stairways, lift lobbies and swimming pools.
For landed properties such as bungalows, semi-detached and terrace houses, it will include the building structure (but not the foundations), garages, outbuildings, swimming pools, terraces, footpaths, driveways, gardens, gates, fences and other private areas you own and which the public do not have access to.

ft21 Renovations means improvements and additions made within the premises by you or any previous owner or tenant in the form of fixtures and fittings. For example, this could include flooring, built-in wardrobes and kitchen cabinets. They do not form part of the building cover.

ft22 Contents means any physical and movable household items or personal belongings including money, valuables, bicycles, and personal mobility devices, kept within the premises that belong to you or your family members. But it does not include, amongst other items, motor vehicles and watercraft, pets or livestock and items connected with your or your family member’s business, trade or profession. Please refer to the policy contract for the exclusions and the benefit sub-limits for each type of content.

ft23 Specific items covered at full value means the personal belongings which are covered either within your premises or worldwide or the contents which are covered within your premises, up to their respective full replacement values, as shown in the schedule.

ft24 Income has arranged for our appointed Emergency Home Assistance provider to assist policyholders with the search for emergency plumbing, electrician, locksmith and pest control services 24/7, subject to policy conditions. This is a complimentary service provided to you. It does not form part of the benefit provided under Home Ultimate Protect’s policy contract. Income reserves the right to amend or discontinue the services at any time at its sole discretion without notice.

ft25 The accidental death or permanent disability suffered by your domestic helper due to an injury must happen within 12 months from the date of the accident. The amount of benefit payable is subject to the scale of compensation in the policy contract.

ft26 This Letter of Guarantee is only applicable if your domestic helper is hospitalised at a Singapore government restructured hospital, and is capped at a maximum limit of $10,000 per admission. Subject to individual hospital guidelines. Other terms and conditions apply.

ft27 If there is a claim made for an early stage cancer, we will only pay 100% of the sum assured upon diagnosis of an advanced stage cancer. 

ft28 Advanced stage of major cancer benefit
The definitions for advanced stage cancers are found in the policy conditions. The insured must survive at least 30 days after the insured is diagnosed with a covered advanced stage of major cancer before we pay the advanced stage of major cancer benefit. We will not pay this benefit if the insured was diagnosed with the disease within 90 days from the cover start date. Once payment for advanced stage of major cancer benefit is made, the early stage of major cancer benefit, and the advanced stage of major cancer benefit will end.

ft29 Accidental fractures benefit
We will pay this benefit only if the surgery happens within 30 days of the accident. The benefit terminates once 20% of the sum assured has been claimed. Please refer to the policy contract for further details.

ft30 We will pay 15% of the sum assured upon the insured’s successful admission to an inpatient hospice facility. However, if the insured was referred to a home care or day care hospice facility, we will pay 5% of the sum assured. We will pay another 10% of the sum assured if the insured subsequently gets admitted to a hospice. The insured has to be diagnosed with terminal cancer by his attending registered medical practitioner and a referral for hospice care services has to be made by his attending registered medical practitioner. The benefit will terminate after this benefit is claimed in full. We will not pay this benefit if the insured was diagnosed with terminal cancer within 90 days from the cover start date.

ft31 If the insured survives at the end of 4 years from the policy entry date, you will start to receive cash payouts starting from the 49^th policy month after the policy entry date. The monthly cash payout consists of the guaranteed monthly cash benefit and the non-guaranteed monthly cash bonus. The guaranteed monthly cash benefit is 0.072% of the net single premium, while your non-guaranteed monthly cash bonus is up to 0.2405% of your net single premium (based on the assumption that the Life Participating Fund earns a long-term average return of 4.25% per annum). Over 12 months, you would receive 0.864% of the net single premium as guaranteed cash benefit and up to 2.886% of the net single premium as non-guaranteed cash bonus. The non-guaranteed monthly cash bonus may vary according to the future performance of the Life Participating Fund. If the Life Participating Fund earns a long-term average return of 3.00% per annum, the non-guaranteed monthly cash bonus will be up to 0.12% of the net single premium. You will continue to receive your monthly cash payout at subsequent policy months if the insured is still alive and the policy has not ended. Net single premium means the single premium amount as shown in the policy schedule, or the reduced single premium amount if a part of the policy has been cashed in earlier.

ft32 If the insured survives at the end of the policy term, which is the anniversary immediately after the original insured’s 120^th birthday, and the policy has not already ended, the policy will pay 120% of the net single premium and a non-guaranteed terminal bonus (“Maturity benefit”). We will also pay any cash benefits and cash bonuses which have built up (accumulated). The policy will end when we make this payment. We will not pay any further benefits.

ft33 The original insured means the insured that was appointed when the policy was issued.

ft34 Only yourself (policyholder 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) can be the secondary insured at the time of exercising this option. You can exercise this option to appoint a secondary insured no more than three times, and 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 this policy only upon death of the insured for the remaining policy term. The policy can only have one insured at any point of time.

Information is correct as at 31 March 2023.