Frequently Asked Questions

VivoAssured

Product Coverage 8/4

• Q:What is VivoAssure?

  A:

  VivoAssure is a participating, regular premium whole-life plan that provides protection against death, terminal illness, total and permanent disability (before the anniversary immediately after the insured reaches the age of 70), accidental death (before the anniversary immediately after the insured reaches the age of 70) and retrenchment benefits.

  It also offers a minimum protection value of 100%, 200%, 300%, 400% or 500% of the sum assured before the policy anniversary immediately after the insured reaches the age of 70.

Death Benefit

• Q:What is the death benefit payable?

  A:

  Upon death of the insured during the term of the policy, we will pay the benefit shown in the table below.

  When claim event happens	Benefit
  Before the anniversary immediately after the insured reaches the age of 70	100% of sum assured and 100% of bonuses; or Minimum protection value; whichever is higher.
  On or after the anniversary immediately after the insured reaches the age of 70	100% of sum assured and 100% of bonuses.

  Any policy loan and interest will be deducted from the benefit amount payable.

  The policy terminates thereafter.

• Q:What are the exclusion(s) for death benefit?

  A:

  We will not pay the death benefit if the insured commits suicide within one year from the date:

  • we issue the policy
  • we issue an endorsement to include or increase a benefit or
  • we reinstate the policy

  whichever is latest. The policy will cease with immediate effect and we will refund the total premium paid without interest.

  
  

  The benefit is also not payable if the insured has a material pre-existing condition which was not disclosed upon application of this policy.

Terminal Illness (TI) Benefit

• Q:What is the TI benefit payable?

  A:

  Upon diagnosis of the insured with a TI during the term of the policy, we will pay the benefit shown in the table below.

   

  When claim event happens	Benefit
  Before the anniversary immediately after the insured reaches the age of 70	100% of sum assured and 100% of bonuses; or Minimum protection value; whichever is higher.
  On or after the anniversary immediately after the insured reaches the age of 70	100% of sum assured and 100% of bonuses.

  Any policy loan and interest will be deducted from the benefit amount payable.

  The policy terminates thereafter.

• Q:What is the definition of TI?

  A:

  TI, and terminally ill means an illness which, in the opinion of the registered medical practitioner involved and a registered medical practitioner we have appointed, is highly likely to lead to death within 12 months. However, we will exclude terminal illness in the presence of human immunodeficiency virus (HIV).

  Registered medical practitioner means a doctor who is qualified in western medicine and is legally licensed in Singapore or has the qualifications recognised by the Singapore Medical Council.

• Q:What are the exclusion(s) for TI benefit?

  A:

  Upon diagnosis of the insured with a TI during the term of the policy, we will pay the benefit shown in the table below.

   

  When claim event happens	Benefit
  Before the anniversary immediately after the insured reaches the age of 70	100% of sum assured and 100% of bonuses; or Minimum protection value; whichever is higher.
  On or after the anniversary immediately after the insured reaches the age of 70	100% of sum assured and 100% of bonuses.

  Any policy loan and interest will be deducted from the benefit amount payable.

  The policy terminates thereafter.

Total and Permanent Disability (TPD) Benefit

• Q:What is the TPD benefit payable?

  A:

  Upon diagnosis of the insured with a TPD (before the policy anniversary immediately after the he or she reaches the age of 70) during the term of the policy, we will pay the benefit shown below.

  • 100% of sum assured and 100% of bonuses; or
  • Minimum protection value;

  whichever is higher.

  Any policy loan and interest will be deducted from the benefit amount payable.

  The policy terminates thereafter.

• Q:What is the definition of “TPD”, “Total physical loss” and “Severe disability”?

  A:

  TPD, and totally and permanently disabled, mean any of the below.

  • If the insured is under 65 years old, TPD, and totally and permanently disabled mean total physical loss, or the inability to take part in any paid work for the rest of a person’s life.
  • If the insured is 65 years old and above (but before the anniversary immediately after the insured reaches the age of 70 years old), TPD, and totally and permanently disabled mean total physical loss, or severe disability.

  Total physical loss means:

  • the total and permanent loss of sight in both eyes;
  • the loss of, or total and permanent loss of use of, two limbs at or above the wrist or ankle; or
  • the total and permanent loss of sight in one eye and the loss of, or total and permanent loss of use of, one limb at or above the wrist or ankle.

  Severe disability means the inability to perform at least three of the following activities of daily living, even with the aid of special equipment and always needing the help of another person throughout the entire activity.

  • Washing – the ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash satisfactorily by other means;
  • Dressing – the ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical appliances;
  • Transferring – the ability to move from a bed to an upright chair or wheelchair and vice versa;
  • Mobility – the ability to move indoors from room to room on level surfaces;
  • Toileting – the ability to use the lavatory or otherwise manage bowel and bladder functions so as to maintain a satisfactory level of personal hygiene;
  • Feeding – the ability to feed oneself once food has been prepared and made available.

• Q:What are the exclusion(s) for TPD benefit?

  A:

  We will not pay this benefit if your claim arises from:

  • deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
  • unlawful acts, provoked assault or deliberate exposure to danger; or
  • the effects of alcohol, drugs or any dependence.

  We will also not pay this benefit unless the insured is certified by a registered medical practitioner to have been totally and permanently disabled for at least six months in a row.

Accidental Death Benefit

• Q:What is the accidental death benefit payable?

  A:

  Upon death of the insured before the age of 70 due to an accident (within 365 days of the accident) during the policy term, 200% of the sum assured will be payable in addition to the death benefit. If death occurs due to the insured’s involvement in any restricted activity at the time of the accident, 60% of the sum assured will be payable instead in addition to the death benefit.

  The policy terminates thereafter.

  Restricted activity means any of the following activities:

  • Duties as firefighters, police force personnel, fishermen, armed security guards, aircrew, ship crew, marine salvage crew, oil riggers, dock workers, drivers, despatch riders, driving instructors, bodyguards and bouncers.
  • Any activities involving explosives, heavy machinery, woodworking, dangerous gases or substances, using underwater breathing apparatus, work on construction or demolition sites, work at heights above 10 metres, work in underground tunnels, oil and gas rigs or offshore work.
  • Military, air force or naval operations in peacetime, including training and exercises for national servicemen or reservists in peacetime.
  • Motorcycling whether as rider or pillion rider.
  • Professional sports, any form of race (except racing on foot, cycling or swimming), action or adventure sports that involve speed, height at above 10 metres, highly specialized gear, stunts or using underwater breathing apparatus. This definition includes rock climbing, mountaineering, parachuting, white-water rafting, horse riding, winter sports and scuba diving.

• Q:What is the definition of accident or accidental?

  A:

  Accident and accidental mean an unexpected incident that result in an injury or death. The injury or death must be caused entirely by being hit by an external object that produces a bruise or wound, except for injury or death caused specifically by drowning, food poisoning, choking on food, or suffocation by smoke, fumes or gas.

• Q:What are the exclusion(s) for accidental death benefit?

  A:

  The accidental death benefit will not be paid if the claim arises directly or indirectly from:

  • deliberate acts such as self-inflicted injuries, suicide or attempted suicide;
  • unlawful acts, provoked assault or deliberate exposure to danger;
  • the effects of alcohol, drugs or any dependence;
  • illnesses, psychological conditions or eating disorders;
  • heat stroke;
  • a bad reaction to drugs or medication;
  • the effects of viruses (for example, dengue), bacteria or diseases;
  • the negative effects or complications of medical and surgical care;
  • treatment aimed at improving appearance, such as cosmetic surgery or any treatment relating to a previous cosmetic treatment;
  • radiation or contamination from radioactivity;
  • being in any aircraft, except as a fare-paying passenger in a commercial aircraft, or during military operations in peacetime;
  • military, air force or naval operations, except when carried out in peacetime;
  • warlike operations (whether war is declared or not), war, invasion, riot or any similar event;
  • an accident which happens outside of Singapore; if the insured has been outside Singapore for more than 180 days in a row at the time of the accident; or
  • an act of terrorism. However, the policy will pay $10,000 or 10% of the sum assured, whichever is lower, on top of the amount payable for death benefit.

Retrenchment Benefit

• Q:What is the retrenchment benefit payable?

  A:

  Upon retrenchment of the policyholder during the term of the policy, the policyholder will not have to pay the premiums for up to 6 months only if all the following conditions are met:

  • You must have paid at least six months’ premiums.
  • Your retrenchment must have taken place no earlier than six months after the cover start date.
  • You have not been able to find employment for three months in a row after being retrenched.

  The benefit will cease on the date the policyholder starts permanent paid employment.

• Q:What is the definition of “Retrenched”, “Retrenchment”, “Employer” and “Permanent paid employment”?

  A:

  Retrenched and retrenchment mean losing your job as a result of redundancy or because your employer’s profession, business, trade or work is being reorganised.

  Employer means any person, company, association, club, society or organisation that is formed, incorporated or registered in Singapore and which employs people. This includes the Government and any statutory organization or authority in Singapore.

  Permanent paid employment means entering into any contract of service with any person, company, association, club, society, government or authority, whether in Singapore or overseas, where you agree to serve as an employee, including an apprenticeship contract or agreement, or are self-employed.

• Q:What are the exclusion(s) of retrenchment benefit?

  A:

  We will not pay this benefit if your claim arises from:

  • retiring, leaving after a probation period, resigning or being dismissed;
  • suffering a psychological condition, disability or illness;
  • taking part in a labour dispute;
  • coming to the end of an employment contract;
  • being involved in a staff-reduction programme or unemployment you knew was going to happen before the cover start date;
  • being employed for less than six months by an employer; or
  • being employed by an employer not incorporated or registered in Singapore.

• Q:Does this benefit cover the attached riders?

  A:

  No, this benefit does not cover the riders attached.

• Q:How many times can I claim for this benefit?

  A:

  You can only claim once for this benefit once under your policy.

Cash Value and Bonuses

• Q:Is there any cash value for this policy?

  A:

  Yes, for premium term of five years, cash value is available after premiums have been paid for at least 1 year. For all other premium terms, cash value is available after 2 years of premiums are paid.

• Q:Is there any cash value for riders added to this policy?

  A:

  No, there is no cash value for riders.

• Q:Is this policy eligible for any bonus?

  A:

  Yes, there are two types of bonuses:

  • “Annual” or “reversionary” bonus is added to the policy each year.
  • “Terminal” or “special” bonus is an extra bonus that we pay at the time of claim, surrender or maturity. This TB is not guaranteed and will be determined annually. The TB will be expressed as a percentage of the sum assured.

  Bonuses are not guaranteed. They are recommended by our Appointed Actuary and approved by our Board of Directors.

Policy Loan

• Q:Can I take a policy loan?

  A:

  Yes, you can take a policy loan subject to the prevailing terms and conditions.

Riders Supplementary Benefits

• Q:What are Riders / Supplementary Benefits?

  A:

  Riders, also known as supplementary benefits, can be attached to a basic insurance policy to provide additional protection at lower cost.

• Q:Can Riders / Supplementary Benefit be added to this plan?

  A:

  The following riders / supplementary benefits can be added to VivoAssure:

  • Advanced Assure Accelerator
  • Early Assure Accelerator
  • Early Cancer Waiver
  • Payor Premium Waiver
  • Enhanced Payor Premium Waiver
  • Dread Disease Premium Waiver

• Q:Can the riders be added after policy is in force?

  A:

  Yes, the riders for the basic plan can be added after the policy is in-force.

Eligibility and Premium Payments

• Q:Can I use funds in Central Provident Fund or Supplementary Retirement Scheme to buy this policy?

  A:

  No, you can only use cash to buy this policy.

• Q:What is the minimum and maximum sum assured for this policy?

  A:

  The minimum sum assured is $20,000 per policy. The maximum sum assured would be subjected to underwriting.

• Q:Can I backdate my policy?

  A:

  Yes, the policy can be backdated only if all the following conditions are met:

  1. You are backdating a traditional life insurance policy to qualify for a lower premium or higher minimum protection value. Backdating for investment-linked policy is not allowed.
  2. The policy is backdated to a date:
     1. one day before the Insured’s last birthday;
     2. within 6 months from date of receipt of application by us; and
     3. not earlier than the official launch date of the main plan or rider, if applicable.
  3. For backdating of VivoLegacy Solitaire, you are required to pay interest charges at our prevailing policy loan rate if the backdating is more than 1 month or if the single premium is more than S$1 million. The interest payable will be from one day before the Insured’s last birthday to the date of receipt of application by us and based on the single premium.

• Q:What are the minimum and maximum entry ages?

  A:

  Policyholder 

  Minimum	Maximum
  10*	Not applicable

  * Individuals who take up the policy on their own from 10 to 15 years old (age last birthday) will require parental/legal guardian’s consent. Parents cannot take up policies on the lives of their children who are 18 years old (age last birthday) and above.