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China Life Payer Benefit Rider provides you with the assurance that future premium payments will be waived for your basic plan and its riders (if applicable) for the remaining rider term upon death or in the event you are diagnosed with total and permanent disability (TPD) or terminal Illness (TI). You can attach this rider to your basic plan and its riders (excluding riders which provide death, TPD or terminal illness coverage on the policy owner, other premium waiver riders and payer benefit riders).

 

Product Features:

Features Details
Death Benefit Waives all future premiums due under the basic plan and its riders (if applicable) for the remaining rider term upon the policy owner's death.
Total Permanent Disability (TPD) Benefit Waives all future premiums due under the basic plan and its riders (where applicable) for the remaining rider term1 if TPD is diagnosed before the policy owner's 76th birthday.
Terminal Illness (TI) Benefit Waives all future premiums due under the basic plan and its riders (if applicable) for the remaining term of this rider if the policy owner is diagnosed with TI.
Premium Payment Type Regular Premium
Rider Term Follows premium term of rider, or up to age 99 of the policy owner, whichever is earlier2.
Entry Age Follows minimum and maximum age of basic plan for policy owner.
Simplified Underwriting No health check is required but the policy owner will need to answer a few health questions.

 

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

Footnotes:

1. The Total and Permanent Disability (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 policy owner.

2. The rider only provides terminal illness and death coverage from the policy owner’s 76th birthday.

Note:

Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. 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. You should seek advice from a financial adviser regarding the suitability of the policy before making a commitment to purchase. In the event that you choose not to do so, you should consider whether the product in question is suitable for you. 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 rider is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your rider 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 March 2020.