Income

Frequently Asked Questions

VivoLifeSIT

Death Benefit 13 may

Q:What is the exclusion for death benefit? 8030
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.
Q:What is the death benefit? KKK

A:

KKK In the event the insured dies, we will pay higher of sum assured and bonuses, or the minimum protection value that the insured have chosen. The policy will cease after the benefit is paid.
Q:What are the exclusions for accidental death benefit? Update 13/5 xp
A:
5xp - We will not pay the benefit if the insured’s death is caused directly or indirectly by:
- 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;
- An act of terrorism. However, we will pay $10,000 or 10% of the sum assured, whichever is lower, on top of the death benefit

Q:How can donations be made to OrangeAid?

1There are 3 methods for donations to be made to OrangeAid.

Donation Method 1: One-Time Contribution

Payment Method	Important Notes	Submission Method
a) Cheque1	Please make cheque payable to “OrangeAid” and indicate your name (as in NRIC), NRIC/FIN number and house address on the back of your cheque	Together with the cheque, please send the completed Donation Form to us by mail or hand it to our customer service officers at any Income Branches.
b) Credit Card	By VISA and MasterCard only	Please send the completed Donation Form to us by post, fax or email or visit OrangeAid website here to donate online.
c) Cash	Cash can be made at any of our Income Branches.	Our customer service officers will process your donation.

Donation Method 2: Rounding up of Life Insurance Policy Premium(s)

For Life policyholders who are paying their premiums on a monthly, quarterly, half-yearly or yearly basis. (This excludes Investment Linked and Single Premium policies)

Payment Method	Important Notes	Submission Method
A regular contribution will be deducted along with your current premium term and frequency.	Please indicate your preferred amount in the ‘RoundUp Premium’ options in the Donation Form.	Send the completed Donation Form to us by mail, email or hand it to our customer service officers at any Income branches.

Donation Method 3: Regular Donation of Any Amount

For Life policyholders who are paying their premiums on a monthly, quarterly, half yearly or yearly basis. (This excludes Investment Linked and single premium policies)

Payment Method	Important Notes	Submission Method
A regular contribution will be deducted along with your current premium term and frequency.	Please indicate the amount for regular donation under ‘Regular contribution of other amount’ column of the Donation Form.	Please send the completed Donation Form to us by post, fax or email.

Total and Permanent Disability (TPD) Benefit updated 4/1

Q:What is the definition of “total and permanent disability”? 1/4 test a
A:
Total and permanent disability means the inability to take part in any paid work for the rest of the insured’s life, or total physical loss.

The insured must be unable to carry out any occupation. We do not pay if the insured is merely unable to perform the same job as before, or is unable to perform a job to which his or her training, education or experience is suited for.

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, both limbs at or above the wrist or ankle
- 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
- 123
Q:What are the exclusions of total and permanent disability benefit?
A:
We will not pay this benefit if the claim arises from:
- Deliberate acts such as self-inflicted injuries, illnesses or attempted suicide
- Unlawful acts, provoked assault or deliberate exposure to danger
- 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.
Q:What is the total and permanent disability benefit?

A:

Upon diagnosis of TPD (before the age of 70) of the insured during the term of the policy, we will pay higher of sum assured and bonuses, or the minimum protection value that the insured have chosen. The aggregate TPD benefit payable on a single life, inclusive of all policies issued by Income and by any other insurer cannot be more than S$6.5 million (not including bonuses). The policy terminates thereafter.
Q:What is required when I submit a total and permanent disability claim?

A:

You will need to provide us with a medical certificate by a registered medical practitioner certifying that the insured is totally and permanently disabled for at least six months in a row.
Q:Do I need to continue paying premiums while I am receiving the total and permanent disability benefit in instalments?

A:

No, once we begin paying the total and permanent disability benefit, your policy and all riders (except for extended total and permanent disability benefit) will cease immediately and you do not have to pay premiums.

Dread Disease Benefit

Q:What are the exclusions for dread disease benefit?
A:
We will not pay this benefit if your claim arises from:
- Deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
- Deliberate misuse of drugs or alcohol;
- Acquired immunodeficiency syndrome (AIDS), AIDS-related complex or infection by human immunodeficiency virus (HIV), except as stated under HIV due to blood transfusion and occupationally acquired HIV;
- Major cancers, heart attack, coronary artery bypass surgery, or angioplasty and other invasive treatment for coronary artery, where the insured suffered symptoms of, had investigations for, or was diagnosed with, the disease any time before or within 90 days after the cover start date.
Q:What is required when I submit a dread disease claim?

A:

Your claim must be supported with proper and adequate medical evidence including but not limited to acceptable clinical, radiological, histological, and laboratory evidence confirmed by a registered medical practitioner.

Riders Supplementary Benefits

Q:What is the minimum and maximum sum assured for the Early Protect Accelerator rider that can be attached to this policy?

A:

The minimum sum assured for the rider is $10,000 per policy. The maximum sum assured for the rider must be at least $10,000 lower than the basic policy’s sum assured (before the minimum protection value) and up to $350,000 per life (including the minimum protection value), whichever is lower and subject to underwriting.
Q:Can I add or remove riders after the policy is in force?

A:

Yes, you can add riders, any time after the policy is in force.

However, adding riders after the policy is in force will be subject to a reassessment of your health and financial situation.

For all riders, you can remove them any time after the policy is in force.

Retrenchment Benefit

Q:What is the definition of “retrenched” / “retrenchment” and “employer”?

A:

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

Employer is defined as any person, company, association, club, society or organisation that is formed, incorporated or registered in Singapore and employs people. This includes the Government and any statutory organisation or authority in Singapore. 18/5
Q:What are the exclusions for retrenchment benefit?
A:
We will not pay this benefit if the claim arises from you:
- 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
- Being employed by an employer not incorporated or registered in Singapore
Q:Do I need to notify Income in advance if I know that I will be retrenched soon?

A:

There is no need to inform us in advance because you can only claim for this benefit if you are unable to find employment for three months in a row after retrenchment.
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 for this benefit once under your policy.
Q:testing?

A:

Test

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:Is the premium payable for this policy guaranteed?

A:

No, the premium payable is not guaranteed and is subject to review. We will give you six months’ written notice should there be a need to revise the premium.
Q:Can I backdate my policy?

A:

Yes, you can backdate your policy up to six months, so that you can pay premiums based on a lower entry age.

Policy loan

Q:Can I take a policy loan?

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

There are 3 methods for donations to be made to OrangeAid.

Donation Method 1: One-Time Contribution

Payment Method	Important Notes	Submission Method
a) Cheque	Please make cheque payable to “OrangeAid” and indicate your name (as in NRIC), NRIC/FIN number and house address on the back of your cheque	Together with the cheque, please send the completed Donation Form to us by mail or hand it to our customer service officers at any Income Branches.
b) Credit Card	By VISA and MasterCard only	Please send the completed Donation Form to us by post, fax or email or visit OrangeAid website here to donate online.
c) Cash	Cash can be made at any of our Income Branches.	Our customer service officers will process your donation.

Donation Method 2: Rounding up of Life Insurance Policy Premium(s)

For Life policyholders who are paying their premiums on a monthly, quarterly, half-yearly or yearly basis. (This excludes Investment Linked and Single Premium policies)

Payment Method	Important Notes	Submission Method
A regular contribution will be deducted along with your current premium term and frequency.	Please indicate your preferred amount in the ‘RoundUp Premium’ options in the Donation Form.	Send the completed Donation Form to us by mail, email or hand it to our customer service officers at any Income branches.

Donation Method 3: Regular Donation of Any Amount

For Life policyholders who are paying their premiums on a monthly, quarterly, half yearly or yearly basis. (This excludes Investment Linked and single premium policies)

Payment Method	Important Notes	Submission Method
A regular contribution will be deducted along with your current premium term and frequency.	Please indicate the amount for regular donation under ‘Regular contribution of other amount’ column of the Donation Form.	Please send the completed Donation Form to us by post, fax or email.

Cash Value and Bonuses

Q:Is there any cash value for this policy?

A:

Yes, if the premium payment term is five years, the policy will have a cash value when premiums have been paid for at least one year.

For other premium payment terms, the policy will have a cash value when premiums have been paid for at least two years.
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, your policy is eligible for bonuses after the end of the second policy year. There are two types of bonuses.
- Annual Bonus is added to your policy each year
- Terminal Bonus is an extra bonus that we pay at the time of claim or when you surrender your policy fully
Bonuses are not guaranteed. They are recommended by our Appointed Actuary and approved by our Board of Directors.

We do not allow bonus to be encashed on its own for this policy.
Q:Is there a surrender value for my policy?

A:

Yes, if the premium payment term is five years, your policy will have a surrender value after you have paid premiums for one year.

For other premium payment terms, your policy will have a surrender value after you have paid premiums for two years.