Wealth Solitaire 

Wealth Solitaire is a participating, single-premium whole-life plan with a policy term that lasts until the anniversary immediately after the insured’s 100th birthday.

Cash benefits are payable each month, starting from the 61st month from the policy entry date. In addition, a special cash benefit will also be paid out after the end of the 20th and 30th policy year.

This plan also provides protection against death, accidental death, total & permanent disability (TPD) and accidental TPD during the policy term (if accidental death, TPD and accidental TPD occur before the age of 70).

Yes, there is guaranteed acceptance for this plan regardless of the insured’s health condition. However, financial underwriting will be required.

Upon death of the insured during the term of the policy, we will pay 105% of the net single premium and a terminal bonus.

Any deposited cash benefits and cash bonuses will also be paid out. Any policy loan and interest will be deducted from the benefit amount payable.

The policy terminates thereafter.

We will not pay the death benefit if the insured commits suicide within one year from the date:

• we issue this policy;
• we issue an endorsement to include or increase a benefit; or
• we reinstate this policy;

whichever is latest.

The policy will cease with immediate effect and we will refund the total premiums paid, without interest, less any payout and any amount you owe us, from the cover start date.

Upon diagnosis of the insured with TPD (before the age of 70), we will pay 105% of the net single premium paid and a terminal bonus will be paid out.

Any deposited cash benefits and cash bonuses will also be paid out. Any policy loan and interest will be deducted from the benefit amount payable.

The policy terminates thereafter.

TPD, and totally and permanently disabled, mean any of the below.

• If you are under 65 years old, TPD, and totally and permanently disabled mean total physical loss, or the inability to take part in any paid work for the rest of your life.
• If you are 65 years old and above but under 70 years old, TPD, and totally and permanently disabled mean total physical loss, or severe disability.

Total physical loss means:

• the total and permanent loss of sight in both eyes;
• the loss of, or total and permanent loss of use of, two limbs at or above the wrist or ankle; or
• the total and permanent loss of sight in one eye and the loss of, or total and permanent loss of use of, one limb at or above the wrist or ankle.

Severe disability means the inability to perform at least three of the following activities of daily living, even with the aid of special equipment and always needing the help of another person throughout the entire activity.

• Washing – the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash satisfactorily by other means;
• Dressing – the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical appliances;
• Transferring – the ability to move from a bed to an upright chair or wheelchair and vice versa;
• Mobility – the ability to move indoors from room to room on level surfaces;
• Toileting – the ability to use the lavatory or otherwise manage bowel and bladder functions so as to maintain a satisfactory level of personal hygiene;
• Feeding – the ability to feed oneself once food has been prepared and made available.

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, drug or any dependence.

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

Upon accidental death of the insured before the age of 70 or upon diagnosis of TPD of the insured due to an accident before the age of 70 (within 365 days of the accident), we will pay 105% of the net single premium in addition to the death benefit or TPD benefit respectively. If death or TPD occurs due to the insured’s involvement in any restricted activity at the time of the accident, we will pay 63% of the net single premium instead on top of the death benefit or TPD benefit.

Restricted activity means any of the following activities:

• Duties as firefighters, police force personnel, fishermen, armed security guards, aircrew, ship crew, marine salvage crew, oil riggers, dock workers, drivers, despatch riders, driving instructors, bodyguards and bouncers.
• Any activities involving explosives, heavy machinery, woodworking, dangerous gases or substances, using underwater breathing apparatus, work on construction or demolition sites, work at heights above 10 metres, work in underground tunnels, oil and gas rigs or offshore work.
• Military, air force or naval operations in peacetime, including training and exercises for national servicemen or reservists in peacetime.
• Motorcycling whether as rider or pillion rider.
• Professional sports, any form of race (except racing on foot, cycling or swimming), action or adventure sports that involve speed, height at above 10 metres, highly specialized gear, stunts or using underwater breathing apparatus. This definition includes rock climbing, mountaineering, parachuting, white-water rafting, horse riding, winter sports and scuba diving.

Accident and accidental mean an unexpected incident that results in an injury or death. The injury or death must be caused entirely by being hit by an external object that produces a bruise or wound, except for injury or death caused specifically by drowning, food poisoning, choking on food, or suffocation by smoke, fumes or gas.

The accidental death and accidental TPD benefit will not be paid if the claim arises directly or indirectly from:

• 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;
• treatment 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 of terrorism. However, an amount of S$10,000 or 10% of the sum assured, whichever is lower in addition to the death or TPD benefit will be payable.

If the insured survives at the end of five years from the policy entry date, we will pay a monthly cash benefit equivalent to 0.13% of the net single premium (i.e. 1.56% of the net single premium annually) at the start of each policy month up to the policy anniversary immediately after the insured’s 100th birthday provided the insured is still alive and the policy has not ended. The first monthly cash benefit is payable at the start of the 61st month from the policy entry date.

In addition, we will also pay a special cash benefit equivalent to 1.56% of the net single premium after the end of the 20th and 30th policy year in addition to the monthly cash benefit. The special cash benefit will be paid in a lump sum together with the monthly cash benefit payable at the start of the 241st and 361st policy month from the policy entry date.

You can exercise any one of the following options:

• Place it in a deposit account to earn interest at a rate we will set; or
• Receive it as a payout.

The interest rate for the cash benefits is not guaranteed. Prevailing interest rate at the point of deposit as determined by Income will apply.

When your policy comes to an end, any cash benefits deposited with Income will be paid out.

We will write to you before the first cash benefit is due to confirm how you would like to use it. We will then follow this same choice for the later cash benefits, unless you tell us your choice at least 30 days before the next cash benefit is due. If there is no response from you, we will make a choice for you.

The default option will be set out in the letter. You should inform us if your choice is different from the default option.

A special cash benefit equivalent to 1.56% of the net single premium will be paid after the end of the 20th and 30th policy year in addition to the monthly cash benefit.

The special cash benefit will be paid in a lump sum together with the monthly cash benefit payable at the start of the 241st and 361st policy month from the policy entry date.

The option to accumulate the special cash benefit with Income will also be available.

If the insured survives at the end of the policy term, which is the anniversary immediately after the insured’s 100th birthday, and the policy has not already ended, the policy will pay 105% of the net single premium paid and a terminal bonus.

Any accumulated cash benefits and cash bonuses will also be paid out together with the centennial maturity benefit. Any policy loan and interest will be deducted from the benefit amount payable.

The policy terminates thereafter.

Yes, cash value is available after the single premium is paid.

Yes, this policy is eligible for bonuses. There are two types of bonuses:

• A cash bonus may be payable starting from the 61st policy month up to the termination of the policy.The bonus rate, which is declared yearly, is not guaranteed and may vary from year to year. The cash bonus, (if any) will be paid out together with the monthly cash benefit. The policyholder can choose to leave both the cash bonus and cash benefits with Income to accumulate at prevailing interest rate.
• Terminal bonus is an additional bonus, which we may pay at the time of a claim, maturity or surrender of the policy. This terminal bonus is not guaranteed and will be determined annually.

These 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 influence by the performance of the Life Participating Fun (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.

No, you can only use cash to buy this policy.

The minimum single premium is S$100,000 per policy. The maximum limit on the sum assured would be subjected to financial underwriting.

No, you cannot backdate your policy.

No, you cannot increase or decrease your single premium after policy is incepted.

Yes, you can take a policy loan subject to the prevailing terms and conditions.