Insurance

CancerCare

You might have queries with regards to CancerCare.

  • CancerCare is a regular premium plan that provides coverage for all stages of cancer or death benefit. The policy will end upon death or any claim, whichever happens first. CancerCare is underwritten by Manulife (Singapore) Pte Ltd and distributed by DBS Bank Ltd (“DBS”) without any financial advice via digibank online, digibank mobile and DBS iWealth®.

  • You are eligible to purchase this plan if you are:
    • Currently residing in Singapore; and
    • A Singapore Citizen or Singapore Permanent Resident (PR); and
    • Between 18 and 60 years old (age last birthday).

  • You do not need to go for a medical check up to apply for CancerCare.

  • This plan will allow you to enjoy coverage for 5 years after which the policy will automatically renew every 5 years to ensure a continuous coverage. The premiums will be revised upon renewal based on your attained age at the start of each renewal. The maximum renewal age is 70. You may refer to Policy Illustration in Product Documents during the application for the renewable premium amount over the policy term.

  • Initial and subsequent premiums will be debited from your DBS/ POSB bank account.

    Subsequent premiums will be deducted based on the following dates:

    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date, provided the policy is in-force. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

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eCriticalCare

You might have queries with regards to eCriticalCare.

  • eCriticalCare is a regular premium non-participating term plan that offers protection against critical illnesses and coverage in the event that admission to an intensive care unit (ICU) of a hospital is medically necessary. eCriticalCare is underwritten by Manulife (Singapore) Pte Ltd and distributed by DBS Bank Ltd (“DBS”) without any financial advice.

  • You are eligible to buy this plan if you are:
    • currently residing in Singapore; and
    • a Singapore Citizen or Singapore Permanent Resident (PR); and
    • between 18 and 60 years old (age last birthday).

  • The policy terms available are 10 to 40 years, in multiples of 5 years, subject to an expiry age of 85 (age last birthday).

  • The minimum coverage amount per policy is S$50,000 while the maximum coverage amount per policy is S$300,000.

  • The maximum coverage amount for all eCriticalCare policies allowed per life insured is S$300,000.

  • Initial and subsequent premiums will be debited from your DBS/ POSB bank account.

    Subsequent premiums will be deducted based on the following dates:

    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date, provided the policy is in-force. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

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eDecreasingTerm

You might have queries with regards to eDecreasingTerm.

  • eDecreasingTerm is a regular premium, non-participating, decreasing term insurance plan that offers protection against death, terminal illness and total and permanent disability. The sum insured will decrease over the policy term based on a chosen interest rate.

  • eDecreasingTerm is underwritten by Manulife (Singapore) Pte. Ltd. and distributed by DBS Bank Ltd (“DBS”) without any financial advice.

  • You are eligible to buy this plan if you are:
    • currently residing in Singapore; and
    • a Singapore Citizen or Singapore Permanent Resident (PR); and
    • between 18 and 50 years old (age last birthday).

  • The policy terms available are 5 years or 10 to 35 years, subject to an expiry age of 85 (age last birthday).

  • The minimum sum insured per policy is S$150,000 while the maximum sum insured per policy is S$500,000.

  • The maximum sum insured for all Term policies (sold digitally) allowed per life insured is S$1,000,000. This policy is also subject to a S$1,500,000 limit which is the maximum that we will pay for all term policies under simplified issuance offered by us.

    The maximum we will pay for this policy and all other policies we have issued covering the same life insured for any TI benefit is S$1,000,000 (TI limit). This policy will stay in force for the death benefit if we have not paid the full sum insured following the TI claim.

  • Initial and subsequent premiums will be debited from your DBS/ POSB bank account.

    Subsequent premiums will be deducted based on the following dates:

    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date, provided the policy is in-force. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

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MortgageTerm Protect

You might have queries with regards to MortgageTerm Protect.

  • MortgageTerm Protect is a regular premium, non-participating decreasing term insurance plan that offers protection against death, terminal illness and total and permanent disability. The coverage amount will decrease over the policy term based on a chosen interest rate. MortgageTerm Protect is underwritten by Manulife (Singapore) Pte. Ltd. (“we”, “our”, “us”) and distributed by DBS Bank Ltd (“DBS”) without any financial advice.

  • MortgageTerm Protect can only be purchased on an invitation basis, for customers who are:
    • currently residing in Singapore; and
    • a Singapore Citizen or Singapore Permanent Resident (PR); and
    • between 18 and 50 years old (age last birthday).

  • It is designed to match your DBS home loan tenure with a maximum policy term of 35 years. However, you can also reduce the coverage period if necessary with a minimum policy term of 5 years.

  • The minimum coverage amount per policy is SGD 80,000 while the maximum coverage amount per policy is up to your outstanding DBS home loan amount (capped at SGD 1,000,000).

  • The maximum we will pay for this policy and all other term policies aggregated, sold digitally and are issued by us covering the same life insured for any death, terminal illness (TI) and total and permanent disability is SGD 1,000,000. This policy is also subjected to a SGD 1,500,000 limit which is the maximum that we will pay for all term policies under simplified issuance offered by us.

    The maximum we will pay for this policy and all other policies we have issued covering the same life insured for any TI benefit is SGD 1,000,000 (TI limit). This policy will stay in force for the death benefit if we have not paid the full sum insured following the TI claim.

  • Initial and subsequent premiums will be deducted from your DBS/ POSB bank account.

    Subsequent premiums will be deducted based on the following dates:

    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date, provided the policy is in force. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

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ProtectFirst

You might have queries with regards to ProtectFirst.

  • ProtectFirst is a regular premium, non-participating, guaranteed renewable term insurance plan that offers:
    • Coverage against death of the life insured
    • Additional payout for early, intermediate and advanced stage for five critical illnesses
    • Additional payout in the event of an Accident resulting in surgery and hospitalization for at least 6 consecutive days
    • Additional payout in the event of an Accident resulting in death or Total and Permanent Disability
  • ProtectFirst is underwritten by Manulife (Singapore) Pte Ltd and distributed by DBS Bank Ltd (“DBS”) without any financial advice.

  • You are eligible to buy this plan if you are:
    • currently residing in Singapore; and
    • a Singapore Citizen or Singapore Permanent Resident (PR); and
    • between 18 and 45 years old (age last birthday).

  • This plan will allow you to enjoy coverage for 5 years after which the policy will automatically renew every 5 years as long as the policy is in-force and premium is paid by the grace period, to ensure a continuous coverage. The premiums will be revised upon renewal based on the attained age of the life insured at the start of each renewal term. The maximum renewal age is 60 (age last birthday). You may refer to Policy Illustration in Product Documents during the application for the renewable premium amount over the policy term.

  • The minimum premium per policy is S$5.

  • The maximum aggregated sum insured (sum of Death benefit sum insured and Critical Illness sum insured) for all ProtectFirst policies (and any of its future versions issued by us) allowed per life insured is S$200,000.

  • The maximum aggregated Accidental Death sum insured for all ProtectFirst policies (and any of its future versions issued by us) allowed per life insured is S$300,000.

  • Initial and subsequent premiums will be debited from your DBS/ POSB bank account.
    Subsequent premiums will be deducted based on the following dates:
    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date, provided the policy is in-force. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

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SavvyEndowment

You might have queries with regards to SavvyEndowment.

  • SavvyEndowment is a short term, single premium endowment plan that provides a lump sum maturity benefit if you hold the policy until the end of the policy term. This plan also provides some protection element in the form of death coverage. Customers who meet the eligibility criteria are guaranteed issuance of this plan without any medical underwriting. SavvyEndowment is underwritten by Manulife (Singapore) Pte. Ltd. and distributed by DBS Bank Ltd (“DBS”) without any financial advice via digibank online, digibank mobile and DBS iWealth®.

  • SavvyEndowment is offered in tranches and each tranche is available on a limited offer basis. We reserve the right to withdraw the product with immediate effect when the tranche is fully subscribed. We also reserve the right to reject any applications beyond the tranche limit.

  • You are eligible to purchase this plan if you are:
    • Currently residing in Singapore; and
    • Paying tax in Singapore only; and
    • A Singapore Citizen or Singapore Permanent Resident (PR); and
    • Between 18 and 60 years old (age last birthday).

  • This plan is available in Singapore dollar currency only. The minimum premium per policy is S$5,000 and the maximum premium per policy is S$100,000.

  • Use of SRS Account funds to purchase SavvyEndowment is available from 7.00 a.m. – 10.15 p.m. on Mondays to Saturdays (excluding public holidays) and 7.00 a.m. – 7.15 p.m. on the last working day (including Saturday) of each month.

  • If you have further enquiries, please email Manulife at service@manulife.com. If you are facing technical difficulties, you may explore our live chat service in DBS/POSB digibank online.

You may also refer to the Frequently Asked Questions for more information.

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SavvySpring (II)

You might have queries with regards to SavvySpring (II).

  • SavvySpring (II) is a 12-year regular premium participating endowment plan that is capital1 guaranteed at policy maturity. It offers you guaranteed cash benefits which will be used to off-set your future annual premium; depending on the plan type chosen, you can shorten your premium commitment period to 3 or 6 years. This plan also offers you protection against death, Terminal Illness, and Total and Permanent Disability (TPD) (until the TPD expiry age).

  • SavvySpring (II) is underwritten by Manulife (Singapore) Pte Ltd and distributed by DBS Bank Ltd (DBS) without any financial advice.

  • You are eligible to buy this plan if you are:
    • currently residing in Singapore;
    • a Singapore Citizen or Singapore Permanent Resident; and
    • between 18 and 60 years old (age last birthday).

  • This plan is available in Singapore dollar currency only. The minimum annual regular premium per policy is S$4,762 (SavvySpring (II) – 3) or S$2,381 (SavvySpring (II) – 6), and the maximum annual premium per policy is S$49,999.

  • Initial and subsequent premiums will be debited from your DBS / POSB bank account.

    Subsequent premiums will be deducted based on the following dates:

    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

1Capital refers to the total premiums paid by the policyholder less the total guaranteed cash benefits. Not applicable for policies which have been altered.

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TermProtect

You might have queries with regards to TermProtect.

  • TermProtect is a regular premium, non-participating, level term insurance plan that offers protection against death, terminal illness and total and permanent disability during the policy term.

  • An optional Critical Illness Premium Waiver Rider that waives premiums on TermProtect and any attaching riders made part of the policy upon diagnosis of 35 covered critical illnesses is also available to be attached.

  • TermProtect and the optional Critical Illness Premium Waiver Rider are underwritten by Manulife (Singapore) Pte. Ltd. and distributed by DBS Bank Ltd (“DBS”) without any financial advice.

  • You are eligible to buy this plan if you are:
    • currently residing in Singapore; and
    • a Singapore Citizen or Singapore Permanent Resident (PR); and
    • between 18 and 60 years old (age last birthday).

  • The policy terms available are 5 to 40 years, subject to an expiry age of 85 (age last birthday).

  • The minimum sum insured per policy is S$75,000 while the maximum sum insured per policy is S$500,000.

  • The maximum sum insured for all Term policies (sold digitally) allowed per life insured is S$1,000,000. This policy is also subject to a S$1,500,000 limit which is the maximum that we will pay for all term policies under simplified issuance offered by us.

    The maximum we will pay for this policy and all other policies we have issued covering the same life insured for any TI benefit is S$1,000,000 (TI limit). This policy will stay in force for the death benefit if we have not paid the full sum insured following the TI claim.

  • Initial and subsequent premiums will be debited from your DBS/ POSB bank account.

    Subsequent premiums will be deducted based on the following dates:

    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date, provided the policy is in-force. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

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RetireSavvy

Here are some key information about RetireSavvy that may be useful to you.

  • RetireSavvy is a single / regular premium, participating endowment insurance plan that provides retirement income and lump sum retirement payout benefit. This plan allows you to customize your retirement plan according to your financial and retirement needs and offers various flexible options should your plans change in the future. RetireSavvy is underwritten by Manulife (Singapore) Pte. Ltd. and distributed by DBS Bank Ltd (“DBS”) without any financial advice.

  • You are eligible to buy this plan if you are:
    • currently residing in Singapore; and
    • a Singapore Citizen or Singapore Permanent Resident (PR); and
    • between 18 and 55 years old (age last birthday).

  • This plan is available in Singapore Dollar currency only. For single premium policy, the minimum single premium per policy is S$12,000, and the maximum single premium per policy is S$199,990. For regular premium policy, the minimum annual premium per policy is S$5,000 (3-pay), S$3,000 (5-pay) or S$1,500 (10-pay), and the maximum annual premium per policy is S$49,990.

  • Initial and subsequent premiums will be debited from your DBS/ POSB bank account.

    Subsequent premiums will be deducted based on the following dates:

    For policies issued between 1st to 15th of the month
    • 1st Attempt: 16th of the current month
    • 2nd Attempt: 2nd of the next month

    For policies issued between 16th to 31st of the month
    • 1st Attempt: 2nd of the next month
    • 2nd Attempt: 16th of the next month

    If the 1st deduction attempt is unsuccessful, a 2nd attempt will be made on the next deduction date, provided the policy is in force. Should the scheduled deduction fall on a non-working day, the deduction will take place on the next working day.

  • If you have further enquiries on this product, please email Manulife at service@manulife.com.

You may also refer to the Frequently Asked Questions for more information.

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Insurance Summary

The insurance policies displayed on your digibank online and digibank mobile are issued and underwritten by Manulife (Singapore) Pte. Ltd. ("Manulife"), Chubb Insurance Singapore Limited (“Chubb”) or Singapore Life Ltd (“Singlife”) and distributed by DBS Bank Ltd ("DBS").

For Chubb and Singlife policies:
If you are the applicant of a Chubb policy distributed through DBS (with the exception of Masterpiece), you will be able to see the details of your policies displayed on your digibank online and digibank mobile.

For Singlife policyholders, you will be able to see the details of DriveShield policies displayed on your digibank online and digibank mobile, with the exception of the following policies:

  • Singlife CareShield Standard/ CareShield Plus
  • Singlife ElderShield Standard/ ElderShield Plus
  • Singlife Shield, Singlife Health Plus

Please note that:

  • Full details of your policy might not be available via digibank online and digibank mobile at the moment. Please refer to your policy document which was sent to the email address you entered during application.
  • For customers with policies which are not displayed on digibank online and digibank mobile, please refer to your policy document which was sent to the address/ email address you provided during application.
  • For ease of viewing your policy details, these policies will continue to be displayed for 30 calendar days from the policy cancellation or expiry date, whichever is earlier. Subsequently, this information will not be available.
  • If you made your purchase via our branches, you will see your policy on your digibank online or digibank mobile after it has been processed by our insurance partner.
  • If you made changes to the policy details currently available on your digibank online or digibank mobile, they will be updated once they have been processed by our insurance partner. This means that your changes might be reflected on your digibank online or digibank mobile before they are actually effective.
  • If your cancellation is effective from your policy commencement date, the policy details will not be available via digibank online or your digibank mobile.

For Manulife policies:
Policies in which you are the policy owner/ policyholder for the plan and the policy status is active/ in force will be displayed via digibank online and digibank mobile. You will not be able to see policies that have been assigned to a third party. If you have requested for a change of servicing agent to a non-DBS representative, your policy details will not be updated moving forward as DBS would no longer have access to your updated policy information once the change has been effected. Please note that:

  • The premium amount reflected on your account summary post login and "View Insurance Summary" page refer to the total premium amount for your policy, not taking into consideration any premium discount due to campaigns or promotions. The individual policy details page will show the premium amount of your basic policy along with the premium amount of the respective rider(s) attached.
  • The next premium due date reflected on your “View Insurance Summary” and individual policy details page will not take into consideration any specific guaranteed cash benefit instructions or prepayment arrangements for your policy.

The policies displayed on your digibank online and digibank mobile are classified into 5 main categories:

  • Protection: Policies offering protection for unforeseen circumstances e.g. critical illness or hospitalisation cover
  • Growth: Policies fulfilling retirement, savings and investment goals
  • Travel: Policies offering travel-specific coverage for your overseas trips
  • Lifestyle: Policies safeguarding you for your various lifestyle needs e.g. cover for your mobile phone
  • Property: Policies providing coverage for your home e.g. cover for your home contents

For better understanding of the coverage offered by each plan, the policies are further classified into these sub-categories (“Coverage Type”):

  • Accident: Policies that provide protection in the unfortunate event of an accident
  • Disability Income: Policies which pay a regular stream of income to replace the income the life assured would lose if the life assured is unable to work due to the occurrence of an accident or illness
  • Endowment: Policies that provide a combination of protection and savings and pays a maturity benefit at the end of the period
  • Fire Mortgage: Policies that provide coverage for the physical structure of the property in events such as fire
  • Health: Policies which reimburse specific medical costs incurred (for example, hospital inpatient medical treatment or surgery and outpatient charges where applicable) due to the occurrence of an accident or illness
  • Home Contents: Policies that provide coverage in the event of damage or loss to the contents and renovations of the property
  • Income Stream: Policies that provide a regular stream of income payout upon a defined payout period
  • Investment: Policies with both life insurance and investment components
  • Life Insurance: Policies which provides financial protection in the event of death or typically, if the life assured suffers from total and permanent disability
  • Loan Protection: Policies that provide settlement for outstanding loan balances in unfortunate events of total and permanent disability, critical illness or unemployment (where applicable)
  • Critical Illness: Policies that provide financial protection in the unfortunate event of early and/or late stage critical illness of the life insured.
  • Long Term Care: Policies which pay a fixed amount each month for long-term nursing care when the life assured is unable to perform a number of "activities of daily living (ADLs)"
  • Maid: Policies that provide coverage for one’s domestic worker
  • Mobile: Policies that provide coverage for one’s mobile phone
  • Mortgage Protection: Policies to safeguard one´s home mortgage in the unfortunate event of death or diagnosis of terminal illness
  • Travel: Policies which offer travel-specific coverage for one’s overseas trips
  • Unemployment: Policies that provide financial support in the unfortunate event of unemployment
  • Waiver of Premium: Provision which enables the waiver of premium collection while keeping the policy in force in the unfortunate event of the insured event

If you have questions about policies distributed through DBS and issued and underwritten by Singapore Life Ltd, AIA Singapore Pte Ltd, DirectAsia Insurance Singapore, MSIG Insurance (Singapore) Pte. Ltd., Income Insurance Limited, The Hongkong and Shanghai Banking Corporation (HSBC), and Tokio Marine Insurance Singapore, please contact the respective insurers directly.

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Glossary

This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business.

  • Accidental Death Sum Insured: The amount of benefit that will be paid in the unfortunate event of accidental death of the life insured.
  • Basic Death Benefit/ Death Benefit/ Death Sum Insured: The amount of benefit that will be paid in the unfortunate event of death of the life insured.
  • Beneficiary Indicator: Indicates whether the policy has a beneficiary.
  • Cash Value: For life insurance policies, this refers to the (estimated) amount of money the policyholder will receive upon surrender, after taking into account surrender charges and policy loans. For Investment-Linked Policies (ILPs), this refers to the total value of funds within the policy - this does not take into consideration any policy loans and surrender charges.
  • Critical Illness Sum Insured: The amount of benefit that will be paid in the unfortunate event of early and/or late stage critical illness of the life insured.
  • Endowment: Policies that provide a combination of protection and savings and pays a maturity benefit at the end of the period
  • Exclusion Indicator: Indicates whether there are any exclusions to the policy.
  • First Payout Date: The date in which the policyholder will start receiving a regular income stream
  • Guaranteed Maturity Value: The amount of money the policyholder is guaranteed to receive from the policy at the end of the policy term
  • Guaranteed Monthly (Retirement) Income: This is the guaranteed monthly (retirement) income amount payable monthly over the selected income payout period (i.e. start to be payable one month after the policy anniversary immediately after the life insured attains his/her selected retirement age).
  • Guaranteed Lump Sum Retirement Payout: This is the guaranteed lump sum amount the policy owner will receive on the policy anniversary immediately after the insured has attained the selected retirement age.
  • Guaranteed Yield at maturity: The guaranteed effective rate of return of the policy which is expressed as a percentage on a per annum basis
  • Hospital Room Board Per Day: This is the room and board limit per day as displayed in policy schedule
  • Hospital Max Limit Per Year: This is the maximum hospitalisation coverage limit per policy year.
  • Hospital Max Limit Per Life: This is the maximum hospitalisation coverage limit over the lifetime.
  • Illustrated Total Maturity Value: The amount of money the policyholder may potentially receive from the policy at the end of the policy term. This amount comprises of guaranteed and non-guaranteed amounts.
  • Last Payout Date: The date in which the last payout has been made and subsequent payouts will cease
  • Life Assured/ Insured: The person that the policy insures or covers.
  • Net Asset Value (NAV): The net value of an investment fund's assets less its liabilities, divided by the number of shares outstanding. It is a valuation of the fund's underlying assets.
  • Non-Guaranteed Maturity Bonus: The non-guaranteed benefits the policyholder potentially receives from the policy at the end of the policy term for a participating policy
  • Non-Participating Policy: Policy which does not allow policyholders to participate or share in the profits of the participating fund of the insurer.
  • Participating policy: Policy which allows policyholders to participate or share in the profits of the participating fund of the insurer. The policy benefits from the insurer's surplus distributions from the participating fund.
  • Payer: The person who pays for the premium of the policy.
  • Payout Amount: The dollar value in which the policyholder will receive for each payout
  • Payout Reinvest Indicator: Indicates whether the benefit payout was chosen to accumulate within policy or payout as cash.
  • Policy Owner: The policyholder or applicant of the policy
  • Policy Term: The period of time the life insured / policyholder is covered for
  • Premium: The amount that the policyholder pays for the insurance cover and benefits of the policy
  • Rider: A provision or modification to an existing insurance policy that provides additional coverage
  • Total Accumulated Payout Amount: This is the benefit (coupon/annuity) payout amount which has been declared and deposited to policy account if customers have selected "Payout reinvest" option or opted to accumulate.
  • Total Illustrated Yield at maturity: The potential effective rate of return of the policy which is expressed as a percentage on a per annum basis. This value comprises of guaranteed and non-guaranteed components.
  • Total Permanent Disability Sum Insured: The amount of benefit that will be paid in the unfortunate event of total and permanent disability of the life insured.
  • Surrender Value: This refers to the net surrender value of the policy if applicable. Any applicable surrender charge and policy loan has already been deducted.
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