Your Term Life Insurance Policy Details

Transcription

1 Yur Term Life Insurance Plicy Details We have made this plicy simple and straightfrward s that yu can understand what we cver and what we d nt cver. Distributed by Direct Asia Insurance (Singapre) Pte Ltd (Cmpany Registratin G) 88 Suth Bridge Rad Singapre Issued and Underwritten by AXA Life Insurance Singapre Pte Ltd (Cmpany Registratin M) 8 Shentn Way AXA Twer #27-02 Singapre

2 cntents 1 yur Term Life Insurance plicy 2 where we cver yu 3 yur benefits 4 what we d nt cver 5 claims 6 wner and beneficiaries 7 what yu need t d 8 keeping yur Term Life Insurance up t date 9 custmer care 10 questins and feedback 11 definitins

3 1 > yur Term Life Insurance plicy Yur Term Life Insurance plicy tells yu what yu need t knw abut yur life insurance. At any time, if yu encunter any difficulty r have any questins abut yur cver r yur plicy, yu can visit DirectAsia.cm at DirectAsia.cm at CustmerService@DirectAsia.cm r call DirectAsia.cm n imprtant ntices Term Life Insurance is a life insurance prduct underwritten and issued by AXA Life Insurance Singapre Pte Ltd (Cmpany Registratin M) f 8 Shentn Way AXA Twer #27-02 Singapre ( AXA Life, the insurer, we, us and ur ), and distributed by Direct Asia Insurance (Singapre) Pte Ltd ( DirectAsia.cm ). Direct Asia Insurance (Singapre) Pte Ltd (Cmpany Registratin G) f 88 Suth Bridge Rad Singapre ( DirectAsia.cm ) is appinted t service this plicy. AXA Life is respnsible fr prduct infrmatin cntained in these plicy details. Whether t apply fr insurance cverage is yur wn individual decisin. We are required by law t tell yu that befre yu are cvered, yu must fully and faithfully tell the insurer everything yu knw r culd reasnably be epected t knw that is relevant t ur decisin t prvide yu the insurance cver. Otherwise, yu may receive n benefit frm yur plicy. yur plicy Yur Term Life Insurance plicy is a cntract between yu and AXA Life. We agree t pay the benefits set ut in the certificate f insurance fr the premium paid by yu. Yur plicy is made up f the infrmatin and any declaratins submitted by yu t us thrugh DirectAsia.cm, the terms and cnditins f the insurance set ut in r n the DirectAsia.cm website, yur certificate f insurance, yur benefit illustratin and these plicy details. Tgether, we will call these dcuments yur Term Life Insurance plicy r yur plicy. Yur plicy is prf f the cntract between yu and AXA Life. The infrmatin yu gave in the applicatin thrugh DirectAsia.cm was relied upn by us in deciding the terms f this plicy and whether r nt t insure yu. This infrmatin is shwn n yur certificate f insurance. We and DirectAsia.cm will take it that yu prmise that the infrmatin yu have given us is true and accurate. Yu will nt be cvered fr anything that is nt described n yur certificate f insurance. Subject t payment f yur premium, yur plicy will becme effective n the date specified in yur certificate f insurance and cntinue fr the perid f cver specified in yur certificate f insurance, ending at 23:59 standard Singapre time n the last day f the perid f cver subject t yu having paid all the premiums due t keep the plicy in frce. Please read yur certificate f insurance and these plicy details carefully t make sure all the infrmatin in yur plicy is cmplete and crrect. If yu need t change anything, please cntact DirectAsia.cm immediately, it is the authrized representative servicing this plicy. T the etent permitted by law, yu will receive yur plicy electrnically. There may be sme dcuments that DirectAsia.cm cannt deliver electrnically due t legal and technlgical cnstraints. These will be psted t yu. Yur plicy uses wrds that have definite meanings. T make sure that yu are aware f these wrds and their meanings, please read the list f definitins set ut in sectin 11 f this dcument. There is a Ttal and Permanent Disability Optinal Benefit ( TPD Benefit ) which can be attached t the plan and the terms and cnditins with respect t the TPD Benefit applies nly if the TPD Benefit has been purchased by yu. yur duty t tell the insurer The insurance cver under yur plicy is based n the infrmatin yu have given t us thrugh DirectAsia.cm.

4 When we agree t insure yu, t renew r vary yur plicy, r t pay yur claim, ur decisin relies n the accuracy f the infrmatin yu give us thrugh DirectAsia.cm. Yur plicy will nt be valid if any infrmatin given by yu is incmplete r inaccurate, r if yu d nt cmply with the terms and cnditins f yur plicy. T avid any cancellatin f yur plicy r nn-payment f yur claim, yu must answer hnestly, accurately and cmpletely the questins we and/r DirectAsia.cm ask abut: yu; yur persnal histry and health; and any events that result in a claim n yur Term Life Insurance plicy. free lk perid If yu are purchasing ur Term Life Insurance fr the first time, we give yu a perid f furteen (14) days, frm the date yu receive yur plicy, t review it. When Direct Asia.cm sends yu the plicy by e- mail, yu are assumed t receive the plicy n the day it is sent ut. When DirectAsia.cm sends yu the plicy by pst, it is cnsidered t have been received by yu seven (7) days frm the date f psting. Yur cver begins nly n the day yur payment is cnfirmed. If yu decide t cancel yur plicy, yu must write t DirectAsia.cm and return the plicy dcuments within this perid f 14 days. DirectAsia.cm shall refund the premium paid if the plicy is cancelled by yu within these 14 days. incntestability Ecept fr fraud, negligent misrepresentatin r nn-payment f premiums, we will nt cntest the validity f this plicy if it has been in frce fr at least tw (2) years frm the cmmencement date. If we cntest the plicy fr material misrepresentatin, fraud r nn-disclsure, any and all mneys paid t us under that plicy will be autmatically frfeited and we may seek t recver any csts incurred by us. renewing yur plicy and maimum ages Yur plicy cvers yu fr ne year and is then renewable annually. Yu can renew yur plicy up t the day prir t the Anniversary Date f yur plicy. Yu are eligible t cntinue renewing yur plicy up t the day immediately prir t: the day that yu attain the age f 85 years fr yur basic benefit; r the day that yu attain the age f 65 years fr yur supplementary TPD Benefit. All yu need t d is t pay the premiums stipulated by us every year (annual r mnthly mde) and ensure that the payments are current n the date f renewal. In rder t ffer yu cntinued cver n yur plicy, we may renew yur plicy autmatically n the plicy anniversary at the premium and n the terms determined by us. Yu shuld be aware that we can nly cnsider autmatic renewal when: yu have made DirectAsia.cm aware f any changes t the infrmatin that yu have prvided t us and DirectAsia.cm and the insurer have accepted these changes the credit card details given t DirectAsia.cm by yu have nt changed; and there are n utstanding premiums n yur plicy r ther breaches f yur plicy. Fr the avidance f dubt, unless yu infrm us therwise, we and/r DirectAsia.cm are entitled t assume that the details prvided by yu have nt changed and that the credit card hlder (if the credit card hlder is nt yu) cnsents t renewal premium payments being charged t his credit card. We and/r DirectAsia.cm may then autmatically charge the credit card we and/r DirectAsia.cm have n file with the renewal premium. Yu may pt ut f autmatic renewal at any time by writing t DirectAsia.cm at least 14 days befre the plicy anniversary f yur plicy. Where this plicy is autmatically renewed, the renewal premiums will be calculated based n yur age last birthday preceding the renewal date using prevailing premium rates at that time. 4

5 guaranteed renewability We guarantee that yur basic plicy is renewable, withut further evidence f yur insurability n the fllwing cnditins: yur plicy is in frce immediately befre it is renewed n the renewal date; and yur attained age is less than 85 years as per yur age last birthday fr the death benefit; and yur attained age is less than 65 years as per yur age last birthday fr the ttal and permanent disability ptinal benefit; and after the renewal, the sum assured under the renewed plicy is the same sum assured as under this plicy befre the renewal date, unless therwise requested fr reductin f Sum Assuredand prvided there is n claim under the plicy; The same terms f acceptance as at the inceptin f this plicy will cntinue t be applicable fr each successive renewed plicy term. If there is a change in sum assured, yu may lse the guarantee cmmunicated t yu. premium Premiums payable are specified in the certificate f insurance r subsequent endrsement(s). Where the death benefit is reduced as a result f any ptinal benefits payable frm any ther supplementary cver, if applicable, the premium and sum assured n the basic plicy will be reduced accrdingly and the adjusted premiums cntinue t be payable frm the net premium due date up t the plicy epiry date unless therwise specified. price guarantee Fr yur cnvenience, the premiums payable n yur plicy are illustrated n a five year basis as specified in yur benefit illustratin and these are guaranteed, unless there has been any misstatement, misrepresentatin and/r nn-disclsure f material infrmatin r if there is any change t the plicy cverage which is agreed by us, DirectAsia.cm and yu. The premiums are guaranteed fr five years n a rlling basis, i.e. fr a new plicy, the yearly renewable term premiums are guaranteed fr plicy years 1 t 5 and fr each renewal year, the 6th, 7th, 8th,.. nth year s premium is added such that there are always 5 years premium rates guaranteed starting with and including that year s renewal premium. The diagrams belw illustrate hw this wrks: Plicy Year Guaranteed fr 5 years 0 New Plicy Guaranteed fr net 5 years 1 Upn Renewal, will determine the plicy year 6th premium Insurer determine the 6th year premium Once determined, it is guaranteed Guaranteed fr net 5 years 2 Upn Renewal, will determine the plicy year 7th premium Shuld yur plicy lapse, the five year premium rate guarantee als lapses. nn payment f premium Insurer determine the 7th year premium Once determined, it is guaranteed Yur premium is due n the premium due date which will be specified in the fficial receipt which accmpanies yur certificate f insurance. If yu chse the aut renewal ptin, yur credit card will be charged autmatically and the plicy will cntinue frm the payment due date. If yu d nt chse the aut renewal mde and if yu d nt pay the premium by the premium due date, yu will be given a grace perid f 30 days within which the premium must be paid. 5

6 During the grace perid, yur plicy will cntinue t be in frce, but if any benefit becmes payable by us during the grace perid, the amunt f any unpaid premium will be deducted accrdingly. If yu fail t make the payment by the end f the grace perid, this plicy will autmatically terminate. premium payment and refund f premium Premiums may be paid mnthly r annually as per the mde chsen by yu when yu first purchase the plicy, starting frm the cmmencement date. Mnthly premiums are instalment payments f the current plicy year s premium. In the event f a claim, the sum assured will be payable t yu less any utstanding premiums and administratin fees payable by yu. If yu wish t change the mde and methd f payment fr premiums, yu shuld apply t DirectAsia.cm t d s at least tw (2) weeks befre the due date fr the net premium payment. If yu pay premium annually and yu decide t cancel during the year, there shall be a pr-rated refund f premium t yu less an administrative fee as utlined in the sectin Additinal Charges belw. If yu pay premium mnthly and decide t cancel during the mnth, yur cverage will epire at the end f the current mnth fr which yu have already paid and there shall be n refund f premium. Yur insurance premium will be shwn n yur certificate f insurance and yu must pay yur premium via DirectAsia.cm by the due date specified in the relevant cnfirmatin sent by DirectAsia.cm n ur behalf t yu. If the plicy premium is nt paid within the grace perid, the plicy will lapse and n benefits will be payable by the insurer. Unless DirectAsia.cm prvides fr ther payment methds in the future, all premium payments are required t be made by yu using a credit card acceptable t DirectAsia.cm at the time f purchase r renewal. Yu must therefre prvide details f yur current and valid credit card via r DirectAsia.cm s Custmer Service, including: credit card type; name n credit card; credit card number; and epiry date. Cash and cheque will be accepted nly if yu make payment at DirectAsia.cm s ffice lcated at: 88 Suth Bridge Rad Singapre Yu shuld nt send DirectAsia.cm r the insurer sensitive financial infrmatin like yur credit card number by . Unless yu ask DirectAsia.cm t change yur payment details, the credit card yu prvided will be charged t cllect any premium due n yur plicy. additinal charges Yur plicy cvers yu fr ne year and is renewable annually. Shuld yu cancel yur plicy during the year, an administratin fee will be payable t DirectAsia.cm. Yu can check the latest administratin fees at terminatin This plicy terminates n the earliest ccurrence f: a. this plicy epiry date; r b. full payment f the death benefit; r c. full payment f the sum assured; r d. the epiry f the grace perid withut payment f premium due; r e. ur acceptance f yur applicatin t terminate this plicy; r f. any ther event which results in terminatin as set ut in this plicy. Once this plicy terminates, any ptinal benefits attached t this plicy als terminate. 6

7 currency All amunts payable t us r by us will be in Singapre dllars. 2 > where we cver yu This plicy des nt cntain any restrictins n yur residence, travel r ccupatin. 3 > yur benefits If yu die, the death benefit equal t the sum assured at the date f yur death will be paid ut. Once we pay the death benefit, this plicy, and any ther ptinal benefits, will autmatically terminate. There is an ptinal benefit called Ttal & Permanent Disability ( TPD ) which cvers yu fr ttal and permanent disability. Upn TPD, this ptinal benefit wuld accelerate 25%-100% f the sum assured, as chsen by yu. Yur death benefit payable will reduce by the amunt claimed under TPD. Yu can claim yur TPD benefit nly nce. Yur plicy autmatically terminates n payment f 100% f yur sum assured. There is n maturity benefit payable under this plicy. Yur certificate f insurance and these plicy details set ut and describe the benefits available t yu. The benefits described are payable nly if the specified event affects yu while yu are cvered under this plicy. Other ptinal cver may be intrduced t yu frm time t time, as supplementary cver t yur Term Life Insurance plicy. If there has been a claim that same plicy year, and subsequently anther claim is made, the benefit amunt reflected in the certificate f insurance might nt be reflective f the reduced benefits as per the latest claim and yu will be infrmed at the claims stage n the reduced sum assured. This reduced sum assured wuld be the riginal sum assured (as reflected in the latest certificate f insurance) received by yu minus the amunt paid ut as claims during that plicy year. 4 > what we d nt cver Term Life Insurance plicy des nt cver the fllwing: fraudulent r false claims We will nt pay a claim which is in any part fraudulent, false, eaggerated r if yu r anyne acting fr yu makes a claim in a fraudulent r false way, r where we have been given dcuments r infrmatin that are false r stlen r incmplete. suicide N benefits will be paid if yu die by suicide (while sane r insane) during the first year f cver ther than a return f the current year s premium paid withut interest. etreme sprts claims fr TPD benefit Yur plicy will nt cver yu fr the sprts and activities listed belw: prfessinal sprts; any airbrne activity ther than travelling as a passenger r crew member n bard a licensed internatinal airline n a regular scheduled cmmercial rute; speed time trial r any frm f race ther than n ft, cycling r swimming; trekking r hiking abve 6000 metres in altitude; and/r taking part in any f the fllwing activities withut a licensed guide: trekking, hiking r muntain biking in etreme r hazardus areas; ff-piste skiing; scuba diving; rafting, caneing r kayaking in white water rapids; parachuting, sky diving, paragliding and parascending, bungee jumping r ther similar activities; 7

8 rck climbing, caving, pt hling r muntaineering and any like activities that require r need the use f rpes; hang gliding; r ht air ballning. ther eclusins We will nt pay a TPD claim if the Disability is as a result f: yur attempted suicide during the first year f cver, risks arising frm flying, ther than travelling as a passenger r crew member n bard a licensed internatinal airline n a regular scheduled cmmercial rute, fights in which yu are actively invlved, ther than in cases f legitimate defence, assistance t persns in danger and the perfrmance f a prfessinal duty, cnsequences f acts f freign war invlving Singapre, subject t the terms and cnditins f future legislatin with respect t life assurance during a war, cnsequences f a civil r freign war, uprising, rit, attack r act f terrrism, regardless f where the event takes place and wh rganised it, if yu are actively invlved in the event, cnsequences f terrrist actins perpetrated via r thrugh the direct r indirect use f a radiactive, chemical, bacterilgical r viral substance. illnesses r injuries initially recrded by a physician prir t the plicy applicatin and the deteriratin f a disability eisting prir t admissin, illnesses r injuries vluntarily caused by yu r that result frm a suicide attempt r wilful mutilatin, r yur refusal t treat yurself, injuries that ccur due t yur cnsumptin f alchlic beverages, where yur bld alchl cntent is equal t r higher than the legal limit fr rad traffic accidents applicable n the date f the injury, accidents that ccur due t yur use f drugs r nn-prescribed medicatin, the direct r indirect effects f an eplsin, radiatin r irradiatin due t the transmutatin f an atmic nucleus, Injuries r lesins sustained r that ccur during a race invlving a mtrised vehicle, cmbat sprts r muntaineering. If we deny a claim by reasn f any f the eclusins described in this sectin 4, the burden (including financial) f prving that the claim is cvered is upn yu. 5 > incidents and claims Yu can cntact DirectAsia.cm t tell us abut yur incident by r phne. Mre infrmatin cncerning what t d in the event f an incident can be fund n the DirectAsia.cm website yur respnsibilities when yu make a claim DirectAsia.cm must receive the fllwing dcuments: a. immediately r as sn as pssible, written ntificatin f diagnsis f the Death, and b. within 90 days frm the date f Death: (i) the cmpleted claim frm; (ii) this plicy; (iii) yur birth certificate, identity card and ther identificatin dcument; and (iv) the death certificate indicating the cause f death DirectAsia.cm must receive the fllwing dcuments fr ttal and permanent disability benefit: a. immediately r as sn as pssible, written ntificatin f diagnsis f the ttal and permanent disability, and b. within 90 days frm the date f diagnsis: (i) the cmpleted Claim Frm; (ii) this plicy; (iii) yur birth certificate, identity card and ther identificatin dcument; and (iv) a medical certificate prepared by the attending physician using the frm prvided by the insurer, prviding details f the illness r injury cncerned We and/r DirectAsia.cm may ask fr mre dcuments t be prvided t supprt a claim. All csts f furnishing requested dcuments t us are t be brne by yu. We may refuse t prcess a claim in the event all relevant dcuments have nt been duly submitted t us. We may appint a registered medical practitiner t re-eamine yu. 8

9 wh we can pay If a claim is made under yur plicy, we may settle the claim with yu, yur estate r yur legal persnal representative. Yu r yur legal persnal representative s receipt f the payment shall release us frm all further liabilities. If upn yur instructin, benefits are t be paid t any ther persn and nted in an amendment t yur plicy, we shall be permitted t pay the benefits t such persn. Any such payment abslves the insurer f all further liabilities t yu and/r t any ther persn. if there is ther insurance Yu may nly be cvered under a maimum f three Term Life Insurance (this prduct) plicies and subject t the maimum sum assured per life that we may set frm time t time as per the regulatry requirements r ur discretin. The sum assured limits fr this plicy are as per the table belw. Entry age (age last birthday in years at date f issue) Minimum sum assured Maimum sum assured per life S$ 100,000 S$ 500, S$ 100,000 S$ 350,000 6 > wner and beneficiaries wnership While yur Term Life Insurance plicy is in frce, yu are the wner f that plicy and yu can eercise all rights, privileges and ptins prvided under this plicy subject t any rights transferred t any assignee under this plicy. assignment Yu may use this plicy as a security r cllateral. Neither we nr DirectAsia.cm are respnsible fr the validity, legality r effect f any assignment, even if we r DirectAsia.cm recrd the ntice f assignment. Neither we nr DirectAsia.cm shall be deemed t have any knwledge f any assignment unless yu prvide us r DirectAsia.cm with a written ntice f the assignment. Further details are prvided in the sectin Interest f Other Persns. beneficiaries One r mre beneficiaries fr the life insurance prceeds may be named by yu by cntacting DirectAsia.cm and cmpleting the required frm at any time. There are regulatins facilitating nminatin f beneficiaries in Singapre and yu can btain a guide t this by visiting rights f third parties A persn wh is nt a party t this plicy will have n rights under the Cntracts (Rights f Third Parties) Act (Chapter 53B) t enfrce any f its terms. 7 > what yu need t d yur duty t tell the insurer Yu must truthfully and cmpletely disclse t DirectAsia.cm and/r the insurer the facts as yu knw r ught t knw them. This includes answers t questins we and/r DirectAsia.cm ask when yu apply fr a plicy, renew, r alter yur plicy, and any ther matters which might affect whether we insure yu and n what terms. We use the infrmatin yu give DirectAsia.cm and/r us t decide whether r nt t insure yu, r anyne else, s it is imprtant yu understand this when yu are answering ur questins. 9

10 If yu d nt answer these questins truthfully and cmpletely and d nt disclse all relevant infrmatin t DirectAsia.cm and/r t us, then yur claim culd be reduced r refused (either ttally r in part), r yur plicy cancelled and treated as never having eisted. In additin, DirectAsia.cm may als seek t recver any csts that have been incurred. misstatement f age, se r health Subject t ur rights in the case f fraud, if yur age, se r health cnditin (including whether yu were suffering frm a disease, cnditin, disability, sickness r handicap at the time f applicatin) has been misstated, the benefits payable under this plicy will be determined n the basis f the crrect age, se and health cnditin and the premiums paid. If at the crrect age r health cnditin, yu were nt insurable accrding t ur requirements, this plicy will be vid frm the cmmencement date, and we will refund the ttal premium paid (withut interest) frm the cmmencement date and any claims will be cnsidered vid. surce f funds; n mney laundering, n ta evasin By entering this cntract yu represent, warrant and certify t us that (i) all premiums will be prperly declared t relevant ta authrities in the jurisdictin f yur ta residence and/r any ther jurisdictins as necessary r apprpriate in accrdance with applicable laws and regulatins, and (ii) nne f the funds derive, directly r indirectly, frm illegal activities r surces and/r ta evasin. eligibility t cntinue cverage Anti Mney Laundering Requirements require us t verify yur identity and cnduct adequate nging due diligence n yu t ensure this plicy, its premiums and its benefits, are nt the subject f mney laundering r terrrist financing. If we cannt validate yur identity within 30 days f plicy issuance r if we at any time find that gvernments have placed yu n a sanctin list, yur plicy may be terminated. If we find at any time that yu are a plitically epsed persn, r an immediate family member r clse assciate f a plitically epsed persn, we may reassess yur eligibility and reserve the right t terminate yur plicy, subject t refund f premium terms utlined in sectin 1. breach f representatins, indemnificatin; right t terminate plicy; cnsent t ntify relevant gvernmental authrities By entering this cntract, yu acknwledge that in the event f a vilatin f the freging representatin and warranty, yu hereby epressly acknwledge and agree that we shall, accrding t applicable law and regulatin, have the right t: 1) terminate this plicy immediately; 2) impse the maimum additinal charges prvided fr in this plicy; 3) ntify relevant gvernmental authrities and furnish all infrmatin deemed necessary r apprpriate, in ur entire discretin, cncerning yu and/r this plicy; and 4) if deemed apprpriate after cnsultatin with gvernmental authrities and legal cunsel, either (a) refund t yu premiums and ther amunts paid t us thrugh the date f such terminatin less applicable charges in accrdance with clause (2) abve (the Refund Amunt ), r (b) if requested r required t d s by cmpetent gvernmental authrities, freeze r pay ver t relevant gvernmental authrities all r a prtin f the Refund Amunt r take such ther actins as cmpetent gvernmental authrities may request r require. plicy f cperating with ta and ther gvernmental authrities ; cnsent t disclse infrmatin t ta and ther gvernmental authrities We and AXA Grup have a lngstanding plicy f cperating with ta and ther gvernmental authrities t cmbat mney laundering, ta evasin and ther illegal activities. In cases where yu are nt a ta resident f the jurisdictin in which this plicy is issued (a Crss Brder Transactin ), we and/r DirectAsia.cm may disclse t yur hme cuntry s ta and/r ther gvernmental authrities yur identity and yur beneficiaries and certain infrmatin cncerning this plicy r cntract and yu hereby cnsent and agree that we and/r DirectAsia.cm may, at ur sle discretin, make such disclsure. 8 > keeping yur Term Life Insurance up t date If there is a material change in yur circumstances such as a significant change t yur ccupatin type, then yu must tell DirectAsia.cm immediately. We may calculate any difference in premium frm the date yur circumstances changed even if this happened in a previus perid f insurance. 10

11 If yu d nt tell DirectAsia.cm abut changes in yur circumstances, then this culd result in an additinal premium being payable by yu, r may even mean that yur plicy might be cnsidered vid and as having never eisted. making changes t yur plicy by yu Yu may cntact DirectAsia.cm t request a change t be made t yur plicy, such as a change t yur particulars, ccupatin r a change t yur plicy cverage. We are nt bliged t accept any changes but if we d accept a change, DirectAsia.cm will cnfirm it in writing t yu r reflect the change n yur certificate f insurance. If the accepted change reduces yur premium, we will refund the difference wing t yu, prvided that such difference eceeds $10. If the accepted change increases yur premium, yu will need t pay the insurer the additinal premium, prvided that such additinal premium eceeds $10. The changes yu request will nly take place when DirectAsia.cm has cnfirmed them in writing t yu and yu pay any additinal premium that may be required. If there is a change accepted by us in sum assured f the basic plicy, the sum assured f any accelerating benefit rider r waiver f premium rider wuld change crrespndingly with the adjustments made accrdingly based n yur riginal entry age. Yu can cntact DirectAsia.cm t make changes t yur plicy nline, by r phne. Unless stated therwise, any requested change that we agree t accept, will be effective frm the cmmencement date r the net premium due date r frm the net plicy anniversary, as applicable, fllwing ur apprval fr the change. making changes t yur plicy by us Yur plicy is guaranteed renewable and the insurer cannt change the plicy ecept if there is any change in: a. Laws affecting us r this plicy; r b. Circumstances which in ur pinin makes it impssible r impractical t carry ut any prvisin in this plicy. The premium rates cmmunicated t yu fr this plicy are als guaranteed fr a rlling five year perid. cancelling yur plicy Yu have the right t cancel yur Term Life Insurance plicy at any time by giving us 7 days ntice. The effective date f cancellatin will be based n the date DirectAsia.cm receives the written ntice f cancellatin. Refund f premium, if any, will be accrding t the terms in sectin 1. We will nt refund any premium if n r befre cancellatin f the plicy any ne r mre f the fllwing has ccurred: yu have reprted a claim; We have paid a claim; the certificate f insurance has nt been returned; and/r yu we the insurer premium. In the event that yu cancel yur plicy, DirectAsia.cm will require yu t pay an administratin fee t cver the cst f setting up yur plicy. Yu can check the applicable administratin fee n Yu must pay any utstanding r due premium within 10 days f yu cancelling yur plicy. Delayed payments will be subject t interest and additinal charges, if applicable. immediate terminatin Unless we agree therwise in writing, yur cver shall immediately terminate n the earliest happening f any f the fllwing events: n the cverage epiry date; failure t pay the lump sum premium in full by the start date r failure t pay any instalment payment in full by the specified final due date; 11

12 n the ccurrence f an accident r accidents resulting in yur death fr which the maimum sum assured is payable; upn yur death; n payment f 100% f the sum assured payable under the plicy; r upn yu ceasing t satisfy any f the eligibility requirements set ut in yur plicy. On terminatin f the plicy, all ptinal benefits will als terminate immediately. pst cancellatin and terminatin The terms, cnditins and prvisins f yur plicy which are capable f having effect after the cancellatin r terminatin f yur plicy shall remain in full frce insfar as and fr as lng as may be necessary t give effect t them. interest f ther persns Yu may transfer r assign yur interest in this Term Life Insurance plicy as cllateral security t any ther persn withut the cnsent f any beneficiary. Upn ur apprval all rights shall then be transferred t the etent f the assignee s interest. We are nt respnsible fr the validity f any assignment as between the assignr and assignee and we and DirectAsia.cm shall be entitled t regard as valid any assignment in respect f which an assignment dcument has been sent t DirectAsia.cm fr ntificatin. We shall nt be affected by ntice f any trust, charge, lien, assignment r ther dealing with yur plicy. plicy wners prtectin scheme This plicy is prtected under the Plicy Owners Prtectin Scheme which is administered by the Singapre Depsit Insurance Crpratin (SDIC). Cverage fr yur plicy is autmatic and n further actin is required frm yu. Fr mre infrmatin n the types f benefits that are cvered under the scheme as well as the limits f cverage, where applicable, please cntact us r visit the GIA/LIA r SDIC web-sites ( r r 9 > custmer care Dispute Reslutin If yu have a cmplaint abut yur insurance plicy, yu shuld first refer the matter t yur insurer r the insurance representative wh sld yu the insurance plicy. Hwever if yu fail t reach an agreement, the Financial Industry Disputes Reslutin Centre (FIDReC) prvides an independent alternative dispute reslutin scheme. Yu must ldge a cmplaint with FIDRec within si mnths frm the date when yu failed t reach an agreement with yur insurer. FIDRec is staffed with full-time emplyees wh are familiar with insurance law and practice. FIDReC aims t settle disputes in a fair and cst-efficient way. This shuld hpefully mean yu avid time cnsuming, stressful and cstly legal prceedings. At present, FIDReC cvers the fllwing: Fr claims between insured persns and insurance cmpanies, up t S$100,000 per claim Fr ther claims(including disputes between banks and cnsumers, capital market disputes, third party claims and market cnduct claims), up t S$50,000 per claim FIDReC s rulings are final and binding n the financial institutin, but nt n yu. Yu may chse t accept r reject FIDReC s decisin. If yu are unhappy with the ruling f FIDReC, yu can chse t pursue legal actin r ther ptins such as appraching the Cnsumer Assciatin f Singapre, the Singapre Mediatin Centre r the Small Claims Tribunal. Hwever if yu d accept FIDReC s ruling, yu may lse yur right t prceed with legal actin against the financial institutin. Financial Industry Dispute Reslutin Centre LTD 112 Rbinsn Rad #

13 HB Rbinsn, Singapre Tel: Fa: Website: Yu shuld nt start legal prceedings against the insurer unless 60 days have lapsed after prf f lss has been prvided t the insurer in writing in accrdance with the requirements f yur plicy. the DirectAsia.cm website On the DirectAsia.cm website, yu can make certain transactins nline. This may be purchasing yur plicy, administering yur plicy, making a renewal payment r ther transactins. These transactins will nt be final until DirectAsia.cm receives and prcesses yur transactin and sends yu a cnfirmatin. Yur cnfirmatin means any cmmunicatin issued r transmitted by yu t the insurer via the DirectAsia.cm website r ther electrnic means (including yur ffer t purchase r yur cnfirmatin f payment). It is yur respnsibility t infrm DirectAsia.cm f any change t yur address. It is als yur respnsibility t keep yur accunt active and capable f receiving new s. Neither we nr DirectAsia.cm are respnsible fr s sent t an inactive r ut f date accunt. Yur cnfirmatin f payment may nt be received by the insurer fr reasns including mechanical, sftware, cmputer, telecmmunicatins r electrnic failure, r the missin r failure f ther prviders r systems which are utside the cntrl f either party. Yu acknwledge that t the etent permitted by law, neither we nr DirectAsia.cm are liable t yu in any way fr lss r damage, hwever caused, directly r indirectly, in cnnectin with the transmissin f an electrnic instructin thrugh ur website r any failure t receive an electrnic instructin fr any reasn. The credit card details that yu prvide t DirectAsia.cm and/r t us may be retained after payment is made and yu cnsent t such retentin. Any refund we prvide t yu fr any prduct yu have purchased by credit card will be made back t the credit card accunt used t make the initial purchase unless therwise agreed. DirectAsia.cm and/r we may refuse r decline t prcess a transactin at any time and fr any reasn. We will nt be liable t yu r t any third party if we d this ecept where it cnstitutes a breach f yur plicy. Neither DirectAsia.cm nr we will be liable t yu r t any third party fr any failure t prcess a transactin that is beynd ur cntrl. general Yur plicy shall be gverned by and interpreted in accrdance with the laws f the Republic f Singapre. If these plicy details have been translated int a language ther than English then in the event f any incnsistency the English language versin f these plicy details will always prevail. In case there is any discrepancy between the plicy prvisins and any ther dcument, the wrdings in the plicy details shall prevail. We will nt be bund by any judgments which are nt in the first instance delivered by r btained frm a curt f cmpetent jurisdictin within Singapre. The headings used in these plicy details d nt affect its interpretatin. A clerical errr by the insurer shall nt invalidate insurance therwise validly in frce nr cntinue insurance nt validly in frce. We reserve the right t amend the terms f and cnditins f this plicy at any time pursuant t any applicable legislatin effective during the term f this plicy by giving written ntice t yu. 13

14 If any term r cnditin f this plicy shall be determined by a curt f cmpetent jurisdictin t be illegal, invalid r unenfrceable it shall nt affect the legality, validity r enfrceability f any ther term r cnditin f the plicy. ntices All ntices shall be in writing and shall be deemed t have been received: n the same day if delivered by hand r sent by r fa supprted by a cnfirmatin slip; and 2 wrking days frm the date f psting if sent by registered pst t the addressee s last knwn address. Every ntice t DirectAsia.cm must satisfy all the fllwing cnditins: a. Given n the prescribed frm (if any) available at DirectAsia.cm. b. Cntains all the required and relevant infrmatin. c. Cntains infrmatin which is crrect and cmplete. d. Supprted by dcumentary prf which must be acceptable by us and/r DirectAsia.cm. e. Signed by yu. We and/r DirectAsia.cm must be satisfied that the ntice and the supprting dcumentary prf are authentic. We and/r DirectAsia.cm reserve the right t request fr additinal infrmatin r dcuments befre we and/r DirectAsia.cm act n the ntice r cnsider the request made in the ntice and any csts invlved in such request shall be brne by yu. Any dcument, cheque r written ntice t be given t yu will be psted t yur address held in ur recrds at the relevant time. Yu are respnsible t ntify DirectAsia.cm f any change in yur mailing address. 10 > questins and feedback If there is anything abut Term Life Insurance that yu wuld like t ask the insurer r if yu want t prvide feedback abut the insurer, please get in tuch with DirectAsia.cm via its website by , by phne r in persn at its ffice at 88 Suth Bridge Rad, Singapre. 11 > definitins Yur Term Life Insurance plicy gives special meanings t a number f wrds that we use in yur plicy. The fllwing are definitins f wrds and epressins used in this plicy, unless therwise stated. The singular includes the plural and the masculine includes the feminine and neuter gender, and in each case vice versa, unless specifically indicated therwise. we, us, ur, urs, cmpany, insurer AXA Life Insurance Singapre Private Limited (Cmpany Registratin n.: M). yu, yur, yurs, plicyhlder The persn with whm the cntract f assurance is made, wh is respnsible fr paying the premiums and wh may eercise all rights under this plicy. Anti Mney Laundering Requirements Mnetary Authrity f Singapre (Anti Terrrism) Measures Regulatins 2002, and such ther anti mney laundering legislatin as shall be in frce frm time t time, the mney laundering rules and guidance ntes issued by (as current frm time t time) the Mnetary Authrity f Singapre. applicatin The infrmatin prvided by yu t purchase this plicy frm us. This includes any medical eaminatin frms, supplementary questinnaires and crrespndences cntaining infrmatin, which we relied r may rely n befre deciding whether t insure yu. assignment This plicyhlder s transfer f his rights under this plicy t anther persn r rganisatin. basic benefit The death benefit prvided n the basic plicy, as the case may be. basic plicy The terms and cnditins relating t the basic benefit (including any endrsements). benefits The amunt payable under this plicy and/r ther riders when a specified event ccurs. 14

15 certificate f insurance The certificate frming part f this plicy shwing wnership, details f this plicy when this plicy was first issued. cmmencement date The cmmencement date stated n the certificate f insurance. cverage epiry date The dates n which the respective benefits under this plicy will cease, as stated n the certificate f insurance. date f issue The date, as shwn n: (a) the certificate f insurance, as the date n which this plicy dcument is first issued r (b) in the case f a subsequent endrsement r inclusin f an ptinal benefit, the date f issue shwn n such endrsement r ptinal benefit. The date f issue f a particular insurance cver is the date n which that insurance cver becmes effective. death benefit The amunt f benefit that will be paid in the event f yu death. endrsement A written statement attached t this plicy altering the terms and cnditins f this plicy. grace perid A perid f 30 days frm the due date fr any premium payment, ecept fr the first premium. ptinal benefits The ptinal benefits, if any, attached t this plicy in additin t the basic benefit under this plicy, fr which yu paid additinal premiums. These are ptinal benefits chsen by yu t be attached t the plicy. plicy This plicy details tgether with any attached supplementary terms, riders and subsequent endrsements. plicy anniversary Each annual anniversary f the cmmencement date. plicy epiry date The date that the entire plicy epires which is this plicy epiry date stated in the certificate f insurance. plicy year The perid between tw (2) cnsecutive plicy anniversaries. The perid frm the cmmencement date t the day befre the first plicy anniversary is the first plicy year r plicy year 1. plicyhlder The plicyhlder f Term Life Insurance and as named in the certificate f insurance. premium The amunt t be paid t us t keep this plicy in frce until premium epiry date. premium epiry date The date the premiums under this plicy will cease, as stated in the certificate f insurance. registered medical practitiner A persn with a degree in medicine acceptable t us wh is authrised by law t prvide medical services but ecludes: (a) yu; and (b) a business partner r a relative f yu. regulatry requirements all applicable laws, regulatins and rules, including (withut limitatin) all statements f principle, guidance, ntices and releases f a binding nature in frce frm time t time, issued r made by the Mnetary Authrity f Singapre r any ther authrity r bdy f cmpetent jurisdictin frm time t time and fr the avidance f dubt shall include Anti Mney Laundering Requirements. specified event The circumstances described in this plicy and the riders, which will result in the payment f benefits. sum assured 15

16 The amunt f insurance cverage fr this plicy r rider, if applicable, and as shwn in the certificate f insurance r subsequent endrsement(s). ttal and permanent disability Yu, at such date and at any time thereafter, are cmpletely unable by reasn f sickness r accident t fllw any ccupatin, prfessin r wrk f wages, cmpensatin r prfits and the disability must last fr nt less than si cnsecutive mnths in duratin prvided always that such disability must ccur during the perid; r Where yu have sustained ttal and irrecverable lss f sight f bth eyes; r Where yu have sustained lss r permanent lss f use f tw majr limbs; r Where yu have sustained ttal and irrecverable lss f sight f ne eye and lss r ttal and permanent lss f use f ne majr limb. Lss means lss by cmplete severance f ne limb at r abve the wrist r ankle. Lss f use means ttal functinal disablement f the limb. 16

17 DirectAsia.cm much mre than just great term life insurance. call DirectAsia.cm nw n r g t DirectAsia.cm fr a range f additinal insurances at cmpetitive prices. fast, easy, nline. insurance as it shuld be. Direct Asia Insurance (Singapre) Pte Ltd (Cmpany Registratin G) [] 17