1. Upon the death of the life insured while the policy is in force, we will pay the sum insured less amounts owing to us (if any) and the policy terminates thereafter.
2. If the life insured is diagnosed with a terminal illness while the policy is in force, we will pay the sum insured less amounts owing to us (if any) and the policy terminates thereafter.
3. If the life insured is diagnosed with TPD before the life insured’s 65th birthday, we will pay the sum insured less amounts owing to us (if any) 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.
4. For the 5-year renewable term policy, the premium is level and guaranteed throughout the duration of each 5-year policy term. The renewal premium at each renewal is not guaranteed, and will be worked out based on the prevailing premium rates and the life insured’s age at the time of renewal.
5. This plan will be renewed automatically from the renewal date for the same policy term without further evidence of insurability, so long as all of the following conditions are met:
- the policy is in force and there is no outstanding premium immediately before the date on which the renewal takes effect;
- we have received and accepted the renewal premium on the date on which the renewal takes effect;
- the life insured has not attained age 80; and
- no claim has been made on or admitted under the policy.