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DIRECT – China Life Term Plan is a regular premium term plan which provides financial protection in the event of death, terminal illness (TI) and total and permanent disability (TPD). As this is a direct purchase insurance plan, you may purchase the plan directly from us without seeking advice from a financial adviser.

 

You have a choice of 3 policy terms under this plan:

  • 5-year Renewable Term which is automatically renewed every 5 years up to age 79 for coverage up to age 84;
  • 20-year Term which provides coverage for 20 years; or
  • Term up to age 64 (last birthday)

 

Product Features:

Features Details
Policy Term and Premium Rate
  • 5-Year Renewable Term
    Guaranteed renewable1 at the end of each 5-year policy term for another 5 years, for coverage up to age 84, subject to maximum renewable age of age 79. Premium rates are level and guaranteed throughout the duration of the 5-year policy term.
  • 20-year Term and Term up to age 64 (last birthday)
    Premium rates are level and guaranteed throughout the premium payment term.
Entry Age for Life Insured Minimum: Age 18 (last birthday)
Maximum (for 5 years and 20 years): Age 64 (last birthday)
Maximum (for up to age 64): Age 59 (last birthday)
Benefit Limit You may choose to be covered with a sum insured between SGD50,000 and SGD400,0002.
Death Benefit Upon the death of the life insured within the policy term, we will pay the sum insured, less amounts owing to us (if any) and the policy terminates thereafter.
Total and Permanent Disability (TPD) Benefit If the life insured is diagnosed with TPD3 before the life insured’s 65th birthday, we will pay the sum insured, less amounts owing to us (if any) and the policy terminates thereafter.
Terminal Illness (TI) Benefit If the life insured is diagnosed with a TI within the policy term, we will pay the sum insured, less amounts owing to us (if any) and the policy terminates thereafter.

There are certain conditions under which no benefit under this plan will be payable. Please refer to the policy contract for full details of the exclusions.

 

Important to Know:

To purchase or enquire about DIRECT – China Life Term Life Plan, please call our Customer Care hotline at 6727 4800 or send us an online enquiry.

For more information on Direct Purchase Insurance, please visit the MoneySENSE website at http://www.moneysense.gov.sg/

 

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Footnotes:

1. This plan will be renewed automatically from the renewal date for the same policy term without further evidence of insurability, so long as all of the following conditions are met:

  • the policy is in force and there is no outstanding premium immediately before the date on which the renewal takes effect;
  • we have received and accepted the renewal premium on the date on which the renewal takes effect;
  • the life insured has not attained age 80; and
  • no claim has been made on or admitted under the policy.

Premiums payable upon renewal will be calculated based on the prevailing premium rates and the life insured’s attained age at the start of each renewal.

2. The sum insured is subject to the following:

  • the maximum sum insured of SGD400,000 as aggregated with all direct purchase insurance products issued by us on the same life insured; and
  • the sum insured must be in multiples of SGD1,000.

3. The TPD benefit payable is subject to the TPD per life limit of SGD3,000,000 as aggregated with other policies and riders issued by us on the same life insured.

Note:

Buying a life insurance policy is a long-term commitment. As this policy does not have any savings or investment feature, it has no cash value. This advertisement is for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any specific person. This advertisement is not a contract of insurance. Please refer to the policy contract for the exact terms and conditions, specific details and exclusions. This policy is 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 us or visit the Life Insurance Association, Singapore or SDIC websites (www.lia.org.sg) or (www.sdic.org.sg). This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is correct as at July 2020.