early-payer-security

Early Payer Security

We understand you want enhanced critical illness protection for peace of mind

Giving your loved ones the best goes beyond acquiring a protection, endowment or investment-linked plan. Safeguard their plans with Payer Security¹ to ensure that your loved ones continue to be covered when you or your spouse are unable to pay for the premiums due to unforeseen circumstances.

Highlights

Waives premiums should the unforeseen happen to the payer

Waiver term² upon diagnosis of early / intermediate stage medical conditions

Product Details

Product Features

Payment Term	When Early Payer Security is attached to the same policy as Payer Security III: Minimum: 5 years Maximum: 25 years less childs's age at entry, or 60 years less at entry, or Premium payment term of juvenile policy, whichever is lowest. When Early Payer Security is attached to the same policy as Payer Security Plus: Minimum: 5 years Maximum: Premium payment term, or 85 years less payer's age at entry, whichever is lower.
Policy Term	When Early Payer Security is attached to the same policy as Payer Security III: Minimum: 5 years Maximum: 25 years less childs's age at entry, or 60 years less at entry, or Premium payment term of juvenile policy, whichever is lowest. When Early Payer Security is attached to the same policy as Payer Security Plus: Minimum: 5 years Maximum: Premium payment term, or 85 years less payer's age at entry, whichever is lower.
Issuance Age	Parent/Legal guardian/Spouse: 17 to 70 Age Next Birthday Child or Ward: 1 to 18 Age Next Birthday
Accidental Death Benefit	Not Applicable
Sum Assured	Maximum Premium to Be Waived: $15,000 per annum, per life
Core Benefits	Early³ Stage Medical Conditions Benefit: Waives future premiums for 5 years, or the remaining premium payment term of the covered benefits, whichever is shorter. Intermediate⁴ Stage Medical Conditions Benefit: Waives future premiums for 10 years, or the remaining premium payment term of the covered benefits, whichever is shorter.

Medical Conditions

Covered medical conditions:

Supplementary Benefit	Payer Security III⁵ / Payer Security Plus⁵	Early Payer Security²
	Critical Illnesses (Full premium term waiver)	Early Stage Medical Conditions³ (Waiver of premium for 5 years)	Intermediate Stage Medical Conditions⁴ (Waiver of premium for 10 years²)
1	Alzheimer’s Disease / Severe Dementia	Moderately severe Alzheimer’s Disease or Dementia	-
2	Benign Brain Tumour	Surgical removal of pituitary tumour or Surgery for subdural haematoma	-
3	Blindness (Irreversible Loss of Sight)	Loss of sight in one eye	Optic Nerve Atrophy with low vision
4	Coma	Coma for 48 hours	Severe Epilepsy or Coma for 72 hours
5	Coronary Artery By-pass Surgery	Keyhole coronary bypass surgery or Coronary Artery Arthrectomy or Transmyocardial Laser Revascularisation or Enhanced External Counterpulsation Device Insertion	-
6	Deafness (Irreversible Loss of Hearing)	Partial loss of hearing or Cavernous sinus thrombosis surgery	Cochlear implant surgery
7	End Stage Kidney Failure	Surgical removal of one kidney or Chronic Kidney Disease	-
8	End Stage Liver Failure	Liver surgery	Liver Cirrhosis
9	End Stage Lung Disease	Severe Asthma or Insertion of a Veno-cava filter	Surgical removal of one lung
10	Fulminant Hepatitis	Hepatitis with Cirrhosis	-
11	Heart Attack of Specified Severity	Cardiac pacemaker insertion or Pericardectomy	Cardiac defibrillator insertion or Early Cardiomyopathy
12	HIV Due to Blood Transfusion and Occupationally Acquired HIV	HIV due to Assault, Organ Transplant or Occupationally Acquired HIV	-
13	Idiopathic Parkinson’s Disease	Moderately severe Parkinson’s Disease	-
14	Irreversible Aplastic Anaemia	Reversible Aplastic Anaemia	-
15	Irreversible Loss of Speech	Loss of Speech due to neurological disease or neurological injury	-
16	Loss of Independent Existence	-	-
17	Major Burns	Moderately severe burns	-
18	Major Cancer	- Carcinoma in situ of specified organs - Early Prostate Cancer - Early Thyroid Cancer - Early Bladder Cancer - Early Chronic Lymphocytic Leukaemia - Early Melanoma - Gastro-intestinal Stromal Tumour (GIST)	Carcinoma in situ of specified organs treated with Radical Surgery
19	Major Head Trauma	Facial reconstructive surgery or Spinal cord injury	-
20	Major Organ / Bone Marrow Transplantation	Small bowel transplant; or Corneal transplant	-
21	Motor Neurone Disease	Early Motor Neurone Disease	-
22	Multiple Sclerosis	Early Multiple Sclerosis	-
23	Muscular Dystrophy	Moderately severe Muscular Dystrophy	-
24	Open Chest Heart Valve Surgery	Percutaneous Valve Surgery	-
25	Open Chest Surgery to the Aorta	Minimally invasive surgery to Aorta or Large asymptomatic aortic aneurysm	-
26	Other Serious Coronary Artery Disease	-	-
27	Paralysis (Irreversible Loss of Use of Limbs)	-	-
28	Persistent Vegetative State (Apallic Syndrome)	-	-
29	Poliomyelitis	-	-
30	Primary Pulmonary Hypertension	Early Pulmonary Hypertension	Secondary Pulmonary Hypertension
31	Progressive Scleroderma	Early Progressive Scleroderma	Progressive Scleroderma with CREST syndrome
32	Severe Bacterial Meningitis	Bacterial Meningitis with full recovery	-
33	Severe Encephalitis	Viral Encephalitis with full recovery	-
34	Stroke with Permanent Neurological Deficit	Brain aneurysm surgery or Cerebral shunt insertion	Carotid artery surgery
35	Systemic Lupus Erythematosus with Lupus Nephritis	-	-

Note: Please refer to the respective policy documents for the definition of the listed Medical Conditions. For certain Medical Conditions, there is a waiting period of 90 days from the date of issue or reinstatement, whichever is later.

Footnotes and Note

Footnotes:

Payer Security refers to Payer Security III, Payer Security Plus and Early Payer Security supplementary benefits available for purchase by one or both parents when attached to a child’s policy.
Early Payer Security can only be attached when Payer Security III or Payer Security Plus is attached to the same policy. The maximum premium waiver period under Early Payer Security benefit is 10 years, after which the benefit terminates and premium payment for the covered benefits will resume. The waiver duration is subject to the remaining premium term of the covered benefits and the coverage term.
After the end of the Early Stage Premium Waiver Period, premium payment for the covered benefits will resume, but the premiums for the Early Payer Security benefit will continue to be waived. It allows a second claim, provided it is not from the same medical condition as the first claim, and it does not fall within the same category of the first Early Stage Medical Condition.
If there was a successful claim under Early Stage Medical Conditions, the Intermediate Stage Medical Conditions benefit only waives 5 years of future premiums.
Either Payer Security III or Payer Security Plus can be added for the same life assured, but not both.

Note:

You are recommended to read the product summary and seek advice from a qualified Prudential Financial Consultant for a financial analysis before purchasing a policy suitable to meet your needs.

Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. Premiums are not guaranteed and may be adjusted based on future claims experience.

The information on this website is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details and exclusions applicable to this insurance product in the policy documents that can be obtained from your Prudential Financial Consultant.

The information contained on this website is intended to be valid in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore.

This policy is 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).

Information is correct as at 26 August 2020.