1. Upon maturity, we will pay the sum insured, accumulated reversionary bonuses (if any) and a non-guaranteed terminal bonus (if any), less amounts owing to us (if any).
2. There are 2 types of bonuses – reversionary and terminal. The bonuses are not guaranteed, and the actual amount payable may vary depending on the future performance of the participating fund. Reversionary bonuses may be declared and added to the policy starting from the end of the second policy year. Once the bonus is declared and allocated, it will form part of the guaranteed benefits of your policy. The one-off terminal bonus is a percentage of the accumulated reversionary bonuses. It may be payable upon the death of the life insured, surrender or maturity of the policy (where applicable), whichever is the earliest.
3. The capital guarantee is derived based on yearly premium mode; and if all yearly premiums due on the policy have been paid before the end of the grace period. Capital guarantee applies to the basic plan only.
4. The policy term must be at least 3 years longer than the selected premium payment term. For premium term of 5 years with a policy term of 8 years, this option is available for a limited tranche only.
5. In the event of death of the life insured while the plan is in force, we will pay the sum of 101% of the total yearly premiums due to-date, accumulated reversionary bonuses (if any) and a non-guaranteed terminal bonus (if any), less amounts owing (if any), outstanding premium (if any) and future instalment premiums which are required to make up the full year’s premiums (if any).