AvivaDirect - Aviva 10:10 - Product Summary

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Features

This is a non-participating level term insurance plan. It offers protection against death, total and permanent disability and terminal illness for the period of the policy term and does not have any cash value.

The premiums are guaranteed throughout the policy term.

Benefits

A. Death Benefit

The basic sum assured will be payable in one lump sum upon death of the life assured within the policy term.

B. Terminal Illness Benefit

The basic sum assured will be payable in one lump sum upon terminal illness of the life assured within the policy term.

Terminal Illness means the conclusive diagnosis of an illness that is expected to result in the death of the Life Assured within twelve (12) months. The Terminal Illness must be diagnosed by a specialist and the diagnosis must be confirmed by AVIVA's appointed Registered Medical Practitioner. Terminal Illness in the presence of HIV infection is excluded.

Key Provisions for Terminal Illness Benefit
Termination
This benefit shall terminate on the earliest occurrence of the following:
a) On the Benefit Cessation Date of this Benefit as stated in the Policy Schedule;
b) On the termination on the basic Policy

The Policy shall terminate immediately upon payment of a valid claim under this Benefit unless otherwise stated.

C. Total and Permanent Disability Benefit (TPD)

TPD is defined as:
The Total and Permanent Disability must be total and permanent and such that the disability must persist continuously for at least six (6) months, with the Life Assured incapable of performing any work or engaging in any occupation or profession to earn or obtain any wages, compensation or profit, from the time when the disability started.

The total and irrecoverable:

a)	Loss of the sight of both eyes; or
b)	Loss of sight of one eye and loss by severance or loss of use of one limb at or above the ankle or wrist; or
c)	Loss by severance or loss of use of:
	i)	Both hands at or above the wrists; or
	ii)	Both feet at or above the ankles; or
	iii)	One hand at or above the wrist and one foot at or above the ankle

	will also be considered as Total and Permanent Disability.

While the policy is in force, if total and permanent disability occurs before the policy anniversary immediately prior to the 65th birthday of the life assured, all future premiums of this basic plan will be waived and the benefits payable under TPD will be as follows:

a)	If the sum assured is less than or equal to $1 million, it will be payable in one lump sum
b)	If the sum assured is more than $1 million, the first payment will be for $1 million. The balance of the applicable sum assured will be payable in two equal annual installments, beginning one year after the first payment.

The waiver of premium shall commence on the policy anniversary immediately following the date of commencement of the disability.

The aggregate TPD benefit per life assured shall be at a maximum of $2,000,000.

Exclusion

No benefit shall be payable under this plan for suicide within the first year.

You are advised to read the policy for the full list of exclusions.

Free Look

Within fourteen (14) days of receipt of the Policy, you may write to us to cancel your Policy. We will refund the premiums you have paid after deducting any expenses incurred in issuing the Policy.

The refund will be made after we receive the original Policy for cancellation. If the Policy was sent to you by post, you are considered to have received it seven (7) days after posting.

Note

The above is merely a summary of the product offered. The precise terms and conditions of the product are set out in the policy contract.

Details of Insurer

Aviva is the world's 5th largest insurance group*, the biggest in the UK and a leading provider of life, health and pensions products to markets across Europe. The group's main activities are long-term savings, fund management and general insurance, with worldwide total sales of S$109 billion*, and S$918 billion* in assets under management. It has 58,000 employees serving 35 million customers worldwide.
(*as at 31 Dec 2005)



	Important Notes You have to consider carefully before replacing your existing term policy. The decision you make should always be in your best interest. Some considerations include benefits like renewable and convertible options, critical illness benefit, riders on your existing term policy. Comparison of insurance policies should not be based solely on coverage and premiums alone. If you decide to cancel your existing term policy, you should only do so after you have received and looked through the Aviva 10:10 policy.