China Life Whole Life Guardian
As you journey through different life stages, you would want to secure financial protection to ensure that you and your loved ones will be provided for in the event of death1, terminal illness2 (TI), total and permanent disability3 (TPD). China Life Whole Life Guardian is a whole life plan which in addition to giving you the peace of mind and financial protection, allows you to choose to pay premiums for as short as 5 years or up to 25 years4. What’s more, you can also secure your whole life plan against unforeseen circumstances by adding our riders to your plan today.
1. In the event of death of the life insured while the policy is in force, we will pay the sum of the:
- sum insured;
- 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) and the policy terminates thereafter.
2. If the life insured is diagnosed with TPD before the life insured’s 65th birthday, we will advance the death benefit and the policy terminates thereafter. 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.
3. If the life insured is diagnosed with a terminal illness within the policy term, we will advance the death benefit and the policy terminates thereafter.
4. There are 2 types of bonuses – reversionary and terminal. Revisionary bonus is a non-guaranteed annual bonus which may vary according to the future performance of the participating fund. We may declare and add to your policy starting from the end of third 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 death, TPD or TI of the life insured, maturity or surrender of the policy, whichever is the earliest. No terminal bonus is payable within the first 3 policy years.
5. The premium payment term you select must be equal to or less than [85 less the life insured’s entry age].
You should seek advice from a financial adviser representative before making a commitment to purchase the plan.
As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
This marketing material is for reference only and does not consider your specific investment objectives, financial situation or needs. It is not a contract of insurance and is not intended as an offer or recommendation to purchase the plan. The specific details applicable to this insurance plan are set out in the policy contract. In case of discrepancy between the English and Mandarin versions, the English version shall prevail.
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 your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or 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 15 Dec 2021.