China Life Term Guardian Plus
China Life Term Guardian Plus is a non-participating regular premium term insurance plan that provides financial protection in the event of Death1, Terminal Illness2, Total and Permanent Disability3 as well as Terminal Cancer4 during the policy term. In addition, there are also Option to Purchase Additional Insurance5 or to convert6 your term plan to other life insurance plans.
1. Upon the death of the life insured while the policy is in force, we will pay the sum insured in one lump sum less amounts owing to us (if any). 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 in one lump sum, less amounts owing to us (if any). The policy terminates thereafter. The Terminal Illness benefit payable is subject to Terminal Illness per life limit of SGD 6,000,000 as aggregated with other policies and riders issued by us on the same life insured.
3. If the life insured is diagnosed with TPD before the policy anniversary on which the life insured is age 85 last birthday, we will pay the sum insured in one lump sum, less amounts owing to us (if any). The policy terminates thereafter. The TPD benefit payable is subject to TPD per life limit of SGD 4,000,000 as aggregated with other policies and riders issued by us on the same life insured.
4. The coverage on terminal stage of cancer will accelerate the death benefit. This benefit is subject to Terminal Cancer per life limit of S$1,000,000 (or S$500,000 for juvenile).
Life Insured will be considered a juvenile until he or she:
- reaches the age of 18; or
- gainfully employed or self-employed,
whichever is earlier.
5. This Option to Purchase Additional Insurance (OPAI) benefit offers the option to purchase a new eligible plan on the life of the insured without evidence of insurability. The total coverage amount of the new policy(ies) purchased using this benefit should not be higher than the coverage amount of the original policy in any year, or S$200,000, whichever is lower. The OPAI benefit must be exercised within 90 days from any of the following events:
- First marriage of the life insured;
- Life insured becomes a parent by having a new born child, or legally adopted a child;
- Life insured graduated from tertiary education;
- Life insured purchases a property (whether residential or commercial), and in any jurisdiction recognized by us.
6. Conversion of existing term plan is limited to the eligible plans on the shelf at the point of conversion.
You should seek advice from a financial adviser representative before making a commitment to purchase the plan.
Buying a life insurance policy is a long-term commitment. As this product has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely. Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs.
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.
These policies are 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 22 June 2022.