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China Life Premium Waiver Rider provides you with peace of mind as future premiums will be waived for your basic plan and its riders (if applicable) for the remaining rider term if the life insured diagnosed with total and permanent disability (TPD) or any of the 36 critical illnesses (CIs). This rider can be attached to your basic plan and its riders (excluding riders which provide TPD or CI coverage on the life insured, other premium waiver riders and payer benefit riders).

 

Product Features:

Features Details
Total and Permanent Disability (TPD) Benefit Waives all future premiums due under the basic plan and its riders (where applicable) for the remaining rider term1 if the life insured is diagnosed with TPD.
Critical Illness (CI) Benefit Waives all future premiums due under the basic plan and its riders (if applicable) for the remaining term of this rider2 if the life insured is diagnosed with CI.
Premium Payment Type Regular Premium
Rider Term Follows premium term of rider, or up to age 75, whichever is earlier.
Entry Age Follows minimum and maximum age of basic plan for life insured.
Simplified Underwriting No health check is required and only a few health questions need to be answered.

 

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.

 

 

The 36 Critical Illnesses include the following:

 

1. Major Cancer
2. Heart Attack of Specified Severity
3. Stroke with Permanent Neurological Deficit
4. Coronary Artery By-pass Surgery
5. End Stage Kidney Failure
6. Irreversible Aplastic Anaemia
7. End Stage Lung Disease
8. End Stage Liver Failure
9. Coma
10. Deafness (Irreversible Loss of Hearing)
11. Open Chest Heart Valve Surgery
12. Irreversible Loss of Speech
13. Major Burns
14. Major Organ / Bone Marrow Transplantation
15. Multiple Sclerosis
16. Muscular Dystrophy
17. Idiopathic Parkinson’s Disease
18. Open Chest Surgery to Aorta
19. Alzheimer’s Disease / Severe Dementia
20. Fulminant Hepatitis
21. Motor Neurone Disease
22. Primary Pulmonary Hypertension
23. HIV Due to Blood Transfusion and Occupationally Acquired HIV
24. Benign Brain Tumour
25. Severe Encephalitis
26. Severe Bacterial Meningitis
27. Blindness (Irreversible Loss of Sight)
28. Major Head Trauma
29. Paralysis (Irreversible Loss of Use of Limbs)
30. Terminal Illness^
31. Progressive Scleroderma
32. Persistent Vegetative State (Apallic Syndrome)
33. Systemic Lupus Erythematosus with Lupus Nephritis
34. Other Serious Coronary Artery Disease
35. Poliomyelitis
36. Loss of Independent Existence

 

The Life Insurance Association Singapore (LIA) has standard definitions for 37 severe-stage Critical Illnesses (Version 2019). These Critical Illnesses fall under Version 2019. You may refer to www.lia.org.sg for the standard definitions (Version 2019).

 

^ If the basic plan provides terminal illness benefit, we do not provide terminal illness cover (which is one of the 36 CIs) under this rider. As such, if the life insured is diagnosed with terminal illness, we will pay the terminal illness benefit under the basic plan and the policy ends.

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 life insured.

2. The Critical Illness (CI) benefit payable is subject to the CI per life limit of SGD2,000,000 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. 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.