# Version 1.26

# PRODUCT SUMMARY

## Complete Life Secure (VQMW & VQVW)

### 1. Policy Description

Complete Life Secure is a regular premium whole-life participating plan. You only need to pay premiums for a limited term. Its value will increase by us adding regular bonus. It allows you to participate in the performance of the Life Participating Fund in the form of bonuses that are not guaranteed. You can find more details about the bonuses in Section 3.

This plan provides protection against total and permanent disability, terminal illness and death during the term of this basic policy. You can request to exercise Flexi Cash Access option to receive a cash payout. It also offers guaranteed insurability option to buy another life policy.

It offers a multiplier cover of 100%, 200%, 300%, 400% or 500% of the sum assured (before the anniversary immediately after the insured reaches the age of 65, 75 or 80, whichever is applicable). You cannot change the multiplier cover and the applicable age which you chose at the start of the policy.

This policy includes a non-participating regular premium compulsory rider, Complete Life Secure – Protection Benefit. It pays retrenchment benefit and part of the multiplier cover. This rider will end immediately when its basic policy ends or is converted to a paid-up policy. It does not form part of the Life Participating Fund and no bonus is payable on the benefit.

### 2. Benefits

#### 2.1 Total and Permanent Disability (TPD), Terminal Illness (TI) and Death Benefit

Upon TPD, TI or death of the insured, we will pay the benefit shown below.

| When claim event happens | Benefit |
|---|---|
| Before the anniversary immediately after the insured reaches the age of 65, 75 or 80 (whichever is applicable) | • 100% of sum assured and 100% of bonuses; or<br>• multiplier cover;<br>whichever is higher. |
| On or after the anniversary immediately after the insured reaches the age of 65, 75 or 80 (whichever is applicable) | 100% of sum assured and 100% of bonuses. |

Multiplier cover means a percentage of the sum assured shown in the policy schedule.

Any policy loan and interest will be deducted from the benefit amount payable.

This policy will end when we make this payment. We will not pay any further benefits.

Please refer to the policy contract for the exact terms and definitions of TPD, TI as well as multiplier cover.

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#### 2.2 Retrenchment Benefit

If you are retrenched, you will not have to pay the premiums for the basic policy and Complete Life Secure – Protection Benefit up to six months from the next premium due date onwards. For this to apply, you must meet all the following conditions.

• You must have paid at least six months' premiums.
• Your retrenchment must have taken place no earlier than six months after the cover start date.
• You have not been able to find employment for three months in a row after being retrenched.

You will have to pay premiums for the month that you start permanent paid employment and this benefit will end.

You can claim for the retrenchment benefit only once under this policy.

Please refer to the policy contract for the conditions where this benefit will not apply.

#### 2.3 Flexi Cash Access

You may exercise this Flexi Cash Access option to use a percentage of the basic policy's sum assured for its cash value to receive an annual cash payout.

The request to exercise this option must be made at least 30 days before each anniversary, starting from the anniversary:
• the insured turns age 50; or
• the premium term ends and all premiums have been fully paid,

whichever is later.

The cash payout will start from the anniversary immediately following our acceptance of the request and will be paid on an annual basis.

The cash payout is determined based on the following:
• the chosen sum assured, which is based on the percentage of the basic policy's sum assured you are using for its cash value for the cash payout;
• the payout period, which is the number of years you choose to receive the cash payout. The minimum payout period is 10 years, and the maximum payout period will be up to insured reaching age 100;
• the cash payout is the cash value corresponding to the chosen sum assured divided by the payout period.

You must fulfil the following criteria in order to exercise the option:
• this is not a paid-up policy;
• you do not have any policy loan on this policy;
• the percentage (currently set as 20% to 80%) of the basic policy's sum assured you are using must be within the range of percentage determined by us; and
• the basic policy must meet the minimum sum assured (currently set as $20,000) requirement and the cash payout must meet the minimum amount (currently set as $500) as determined by us.

After the option has been exercised,
• the basic policy's sum assured will be reduced yearly for every cash payout paid to you annually. We will pay the benefit and bonuses of this policy based on the reduced sum assured. After the last cash payout has been paid, the remaining sum assured will continue to be applicable for the remaining policy term;
• if the basic policy's reduced sum assured is less than the aggregated sum assured of all the accelerated riders, the sum assured of the respective accelerated riders shall be reduced accordingly so that the aggregated sum assured of all the accelerated riders matches the reduced sum assured of the basic policy.
• you will not be able to amend your option. However, you are allowed to cancel your current option and exercise it again in the future;
• you will not be allowed to change your policy's sum assured or cash in your policy partially. However, you can cash in your policy fully and end your policy;
• you will not be able to apply for a policy loan; and
• in the event the basic policy's sum assured had been reduced because of accelerated payment, the cash payout will continue until the basic policy's sum assured becomes zero. We reserve the right to adjust the cash payout in the event of any claims paid under the policy.

The option will end upon the earliest of the following:
• the basic policy's sum assured has been reduced to zero; or
• your policy has ended.

#### 2.4 Guaranteed insurability option to buy another life policy

If the insured experiences a life event, the insured may choose to take up a new policy with only death and totally and permanently disabled benefits on the insured's life, without us having to assess the insured's health.

Life event refers to:
a) Turning 21;
b) Marriage;
c) Divorce;
d) Becoming a parent;
e) Death of spouse; and
f) Purchase of a residential property.

We will limit the sum assured for the new policy to
• 50% of the sum assured for this basic policy that is before the basic policy's sum assured has been reduced due to an accelerated payment or exercising the Flexi Cash Access option; or
• S$100,000 per policy,

whichever is lower.

If you have other policies issued by us providing the same benefits as this Guaranteed insurability option to buy another life policy on the same insured, the aggregate of the insured amounts of all new policies issued must not exceed S$500,000.

The aggregate of the total and permanent disability benefits due for the insured for any policies which have been issued (whether issued by us or by any other insurer) cannot exceed the maximum policy limits set by us in the new policy after this option is exercised.

The insured must meet all the following conditions to take up this option:
• the insured must take up this option within three months after the date of their life event.
• the insured must not be totally and permanently disabled, or be diagnosed with an advanced stage dread disease at the time of taking up this option.
• the insured must be 50 years old and under at the time of taking up this option.
• the life event must have taken place no earlier than 12 months after the cover start date of this basic policy.

At our request, the insured must provide to our satisfaction, documentary proof of a life event.

The insured can take up this option no more than two times. Each time the insured takes up this option, it must be on a different life event.

If we have added any special terms or special agreement to this basic policy (including but not limited to extra exclusions or an increased premium), we will also add these terms to the new policy which the insured takes up.

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#### 2.5 Surrender Value (Cash Value)

When you have been paying premiums for this policy for more than two years, you may cash in this policy for its surrender value. However, if the premium term for your policy is five years, you may cash in this policy for its surrender value after you have paid premiums for at least one year.

Please note that buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be zero or less than the total premiums paid.

Depending on your policy and time of surrender, the return on your policy may be low. It may also be likely that you could incur a loss on your policy in the event of early surrender. You may wish to refer to your policy illustration to understand the cost of surrendering your policy, especially in early durations.

### 3. Bonuses

Bonuses are the way you receive a share of the profits of the Life Participating Fund. This policy will share in the profits and losses from this fund as we add bonuses. There are 2 types of bonuses for this plan. The bonus rate, which is declared yearly, is not guaranteed and may vary from year to year according to the future performance of the Life Participating Fund.

The bonus rates in this section are based on the illustrated Investment Rate of Return of the Participating Fund at 4.25% per annum.

In comparison, at an illustrated Investment Rate of Return of 3.00% per annum, the bonus rates are expected to be adjusted downwards depending on the future outlook of the Participating Fund.

Please refer to the policy illustration for the bonus amount at the illustrated Investment Rate of Return of 3.00% per annum and 4.25% per annum respectively. The two rates are used purely for illustrative purposes and do not represent upper and lower limits of the investment performance of the Participating Fund.

Please note that the actual bonuses, if any, declared in the future may be higher or lower than those illustrated in this section.

The insured must meet all the following conditions to take up this option:
• the insured must take up this option within three months after the date of their life event.
• the insured must not be totally and permanently disabled, or be diagnosed with an advanced stage dread disease at the time of taking up this option.
• the insured must be 50 years old and under at the time of taking up this option.
• the life event must have taken place no earlier than 12 months after the cover start date of this basic policy.

At our request, the insured must provide to our satisfaction, documentary proof of a life event.

The insured can take up this option no more than two times. Each time the insured takes up this option, it must be on a different life event.

If we have added any special terms or special agreement to this basic policy (including but not limited to extra exclusions or an increased premium), we will also add these terms to the new policy which the insured takes up.

#### i. Annual bonus, or reversionary bonus

Annual bonus, or reversionary bonus, may be added to the policy each year. The bonuses are usually calculated as a percentage of the basic sum assured and past year's bonuses. Once annual bonuses are added to your policy, they are guaranteed and will be provided for regardless of the performance of the Life Participating Fund.

| Bonus Rate |
|---|
| 0.50% of sum assured compounded at 0.50% |

#### ii. Terminal bonus, or special bonus

Terminal bonus, or special bonus, is an additional bonus, which we may pay at the time of a claim, maturity or surrender of the policy.

Please refer to Appendix B for the applicable terminal bonus rate.

Future bonuses of this plan, which have yet to be added to your policy, are not guaranteed. Each year, Income Insurance Limited (Income Insurance) will decide on the amount of bonuses to be allocated to each participating plan. Bonus allocations are approved by the Board of Directors, based on the recommendation by the Appointed Actuary.

All guaranteed benefits, including bonuses which have already been added to your policy, will be provided for regardless of the performance of the Life Participating Fund.

This policy will become eligible for bonuses after 2 years from the policy entry date.

Encashment of bonuses only is not allowed for this policy.

### 4. Investment of the Life Participating Fund

Premiums from all participating policyholders are combined and invested in our Life Participating Fund, which has a broad mix of investment assets.

#### Investment Objective

The investment objective of the Life Participating Fund is to maximize returns for our participating policyholders while maintaining an acceptable level of risk.

#### Investment Strategy

When setting the investment strategy of the Life Participating Fund, we aim to balance between seeking an attractive return over the long run and taking an acceptable level of risk. The major factors we consider include the product design (e.g. amount of guaranteed benefits, policy term) of our plans, Income Insurance's financial strength, and the prevailing regulations.

#### Current Investment Mix and Performance of the Life Participating Fund

The Life Participating Fund is invested in a wide mix of assets. The main asset classes are local and overseas equities, bonds, property and cash.

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As of 31 December 2025, the investment mix of the Life Participating Fund is:

| Asset Type | Strategic Asset Allocation | Current Investment Mix |
|---|---|---|
| Risky Assets¹ | 32% | 39%² |
| Fixed Income, Cash & Others | 68% | 61% |

¹ Includes equities and properties
² Includes Collective investment schemes (CIS)

Over time, the relative return of different types of assets may change substantially. Hence, we may vary the investment mix in the future, according to the investment objective and strategy of the Life Participating Fund.

#### Total Expense Ratio

The Total Expense Ratio is the proportion of total expenses incurred by the Life Participating Fund to the assets of the Life Participating Fund. These expenses include costs such as investment, management, distribution, taxation and other expenses.

An expected level of expenses to be incurred by the Life Participating Fund has been allowed for in the premiums payable for your policy and is not an additional cost to you. If the actual level of expenses vary significantly from the expected level of expenses, it may affect the non-guaranteed benefits you may receive.

For our Life Participating Fund, the past Total Expense Ratios are shown in the table below.

| | 2023 | 2024 | 2025 | Average over the last 3 years | Average over the last 5 years | Average over the last 10 years |
|---|---|---|---|---|---|---|
| Total Expense Ratio | 0.92% | 0.89% | 0.82% | 0.87% | 0.94% | 0.88% |

Please note that past expense ratios may not be indicative of actual expenses that may be incurred in the future.

#### Investment Rate of Return

For our Life Participating Fund, the past investment rates of return (after deducting investment expenses only) are shown in the table below.

| | 2023 | 2024 | 2025 | Average over the last 3 years | Average over the last 5 years | Average over the last 10 years |
|---|---|---|---|---|---|---|
| Investment Returns | 4.19% | 5.07% | 7.66% | 5.63% | 1.58% | 4.04% |

Please note that past performance may not be indicative of future performance.

Changes in the economic and investment environment may affect the investment performance of the Life Participating Fund and the bonuses that you may receive.

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As of 31 December 2025, the investment mix of the Life Participating Fund is:

| Asset Type | Strategic Asset Allocation | Current Investment Mix |
|---|---|---|
| Risky Assets¹ | 32% | 39%² |
| Fixed Income, Cash & Others | 68% | 61% |

¹ Includes equities and properties
² Includes Collective investment schemes (CIS)

Over time, the relative return of different types of assets may change substantially. Hence, we may vary the investment mix in the future, according to the investment objective and strategy of the Life Participating Fund.

#### Total Expense Ratio

The Total Expense Ratio is the proportion of total expenses incurred by the Life Participating Fund to the assets of the Life Participating Fund. These expenses include costs such as investment, management, distribution, taxation and other expenses.

An expected level of expenses to be incurred by the Life Participating Fund has been allowed for in the premiums payable for your policy and is not an additional cost to you. If the actual level of expenses vary significantly from the expected level of expenses, it may affect the non-guaranteed benefits you may receive.

For our Life Participating Fund, the past Total Expense Ratios are shown in the table below.

| | 2023 | 2024 | 2025 | Average over the last 3 years | Average over the last 5 years | Average over the last 10 years |
|---|---|---|---|---|---|---|
| Total Expense Ratio | 0.92% | 0.89% | 0.82% | 0.87% | 0.94% | 0.88% |

Please note that past expense ratios may not be indicative of actual expenses that may be incurred in the future.

#### Investment Rate of Return

For our Life Participating Fund, the past investment rates of return (after deducting investment expenses only) are shown in the table below.

| | 2023 | 2024 | 2025 | Average over the last 3 years | Average over the last 5 years | Average over the last 10 years |
|---|---|---|---|---|---|---|
| Investment Returns | 4.19% | 5.07% | 7.66% | 5.63% | 1.58% | 4.04% |

Please note that past performance may not be indicative of future performance.

Changes in the economic and investment environment may affect the investment performance of the Life Participating Fund and the bonuses that you may receive.

### 5. Factors Affecting the Life Participating Fund's Performance

The performance of the Life Participating Fund depends on a number of factors, of which the main ones are:

- Investment performance of the Life Participating Fund, which impacts the Fund most;
- Expenses incurred in managing the Life Participating Fund;
- Mortality and morbidity claims experience of the Life Participating Fund; and
- Surrender and lapse experience of the Life Participating Fund.

The performance of the Life Participating Fund will affect the bonus allocation of your participating policy each year. Income Insurance will take into account the Fund's current performance, its future outlook, as well as the financial strength of the Life Participating Fund when setting bonus rates.

### 6. How Risks are shared in the Life Participating Fund

Premiums from all participating policyholders are combined and invested in the Life Participating Fund. Hence, the Life Participating Fund is of a significant size that enables risks to be pooled and diversified.

The key risks that the Life Participating Fund is subjected to include investment risks, expense risks (when expenses of running the business are higher than expected), mortality and longevity risks, morbidity risks, and surrender and lapse risks (when actual surrenders differ from expected). Some non-participating and investment-linked businesses are written in the Life Participating Fund and they may also be subjected to similar risks. These risks result in profit and losses, which will be accounted for in the surplus of the Life Participating Fund, thus influencing its financial strength.

In determining sustainable bonus rates for the participating policies, we look to their asset share, which is the value of the assets available to back the policy. It is calculated as the total premiums received plus actual investment returns and other profits earned by the Life Participating Fund, less expenses and charges and other outgo.

### 7. Smoothing of Bonuses

As investment performance may vary from year to year, bonuses are smoothed to ensure stable medium to long-term returns on your participating policy. This means that bonuses may be held back in good years to support the maintenance of the bonus in years when the performance of the Life Participating Fund is less favourable. It is intended that over the long term, the net impact of smoothing is neutral. Smoothing will never reduce any guaranteed benefits that may apply. Smoothing is a common industry practice.

This product was launched in 2025.

The bonus rates for the past 3 years (or less if the product was launched later) are consistent with the illustrated rates stated in Section 3 "Bonuses".

Please note that past performance is not necessarily indicative of future performance of the Life Participating Fund.

#### External Fund Managers

Assets in the Life Participating Fund are partly managed by Income Insurance and partly managed by external fund managers appointed by Income Insurance. Details of these external fund managers are shown in Appendix A.

### 5. Factors Affecting the Life Participating Fund's Performance

The performance of the Life Participating Fund depends on a number of factors, of which the main ones are:

- Investment performance of the Life Participating Fund, which impacts the Fund most;
- Expenses incurred in managing the Life Participating Fund;
- Mortality and morbidity claims experience of the Life Participating Fund; and
- Surrender and lapse experience of the Life Participating Fund.

The performance of the Life Participating Fund will affect the bonus allocation of your participating policy each year. Income Insurance will take into account the Fund's current performance, its future outlook, as well as the financial strength of the Life Participating Fund when setting bonus rates.

### 6. How Risks are shared in the Life Participating Fund

Premiums from all participating policyholders are combined and invested in the Life Participating Fund. Hence, the Life Participating Fund is of a significant size that enables risks to be pooled and diversified.

The key risks that the Life Participating Fund is subjected to include investment risks, expense risks (when expenses of running the business are higher than expected), mortality and longevity risks, morbidity risks, and surrender and lapse risks (when actual surrenders differ from expected). Some non-participating and investment-linked businesses are written in the Life Participating Fund and they may also be subjected to similar risks. These risks result in profit and losses, which will be accounted for in the surplus of the Life Participating Fund, thus influencing its financial strength.

In determining sustainable bonus rates for the participating policies, we look to their asset share, which is the value of the assets available to back the policy. It is calculated as the total premiums received plus actual investment returns and other profits earned by the Life Participating Fund, less expenses and charges and other outgo.

### 7. Smoothing of Bonuses

As investment performance may vary from year to year, bonuses are smoothed to ensure stable medium to long-term returns on your participating policy. This means that bonuses may be held back in good years to support the maintenance of the bonus in years when the performance of the Life Participating Fund is less favourable. It is intended that over the long term, the net impact of smoothing is neutral. Smoothing will never reduce any guaranteed benefits that may apply. Smoothing is a common industry practice.

This product was launched in 2025.

The bonus rates for the past 3 years (or less if the product was launched later) are consistent with the illustrated rates stated in Section 3 "Bonuses".

Please note that past performance is not necessarily indicative of future performance of the Life Participating Fund.

### 8. Expenses of the Life Participating Fund

Expenses are incurred in the course of running the Life Participating Fund. These expenses include commission, distribution costs, general overheads, underwriting expenses, policy issue and claims expenses, depreciation, etc. This is not an exhaustive list of expenses incurred by the Life Participating Fund.

Expense directly incurred by the Life Participating Fund would be charged to the Life Participating Fund. However, some expenses are shared across all funds. These expenses would be allocated to each fund (including the Life Participating Fund), using a methodology determined by the Appointed Actuary. To ensure equity and fairness, the methodology aims to allocate expenses in a manner that reflects the cost of running the business in each fund.

These expenses incurred by the Life Participating Fund have been included in the premium and will not be separately charged to the policyholder.

### 9. Conflict of Interests

We seek to treat our customers fairly, balancing any conflicting interests that arise between various groups and generations of policyholders or between policyholders and shareholders.

### 10. Related Party Transactions

Fullerton Fund Management Company Ltd, an external fund manager which manages a substantial portion of the Life Participating Fund, is a related party to Income Insurance. Income Insurance has governance and controls in place to ensure related party transactions are conducted at arm's length.

### 11. Riders

With additional premiums, you may attach available riders to enjoy extra protection.

All riders are subject to terms and conditions. For more information on these riders, please refer to the relevant product summaries of the riders.

### 12. Premiums

Premiums are payable throughout the premium term. You can choose to pay monthly, quarterly, half-yearly or yearly. Premium rates are guaranteed throughout the premium term and applicable to standard lives.

### 13. Exclusions

There are certain conditions under which no benefits will be payable under this policy as listed below. Please refer to the policy contract for the full details of the exclusions.

[p.8]

#### Death Benefit

This policy is not valid if the insured commits suicide within one year from the cover start date.

We will refund the total premiums paid, without interest, less any amounts we have paid you, and any amount you owe us, from the cover start date.

#### Total and Permanent Disability (TPD) Benefit

Under the definition of TPD,

• If the insured is under 65 years old, TPD mean total physical loss, or the inability to take part in any paid work for the rest of a person's life. We do not pay if the insured is merely unable to perform the same job as before, or is unable to perform a job to which his or her training, education or experience is suited for.
• If the insured is 65 years old and above, TPD mean total physical loss, or severe disability. Otherwise, we will not pay the benefit.

We will not pay this benefit if your claim arises from:
• deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
• unlawful acts, provoked assault or deliberate exposure to danger; or
• the effects of alcohol, drugs or any dependence.

We will also not pay this benefit unless the insured is certified by a specialist to have been totally and permanently disabled for at least six months in a row. You must provide adequate medical evidence and we may ask the insured to have a medical examination by a doctor we have appointed.

If the insured is also covered for total and permanent disability waiver benefit or total and permanent disability benefit under any policies which have been issued and paid (whether issued and paid by us or by any other insurer), the total of these benefits under all these policies cannot be more than S$6.5 million (including premiums waived due to total and permanent disability but excluding bonuses). In this case we will first take into account the amounts due under the earlier policies, and then pay out only an amount to bring the total payments to S$6.5 million (including premiums waived due to total and permanent disability but excluding bonuses). The cover for death or terminal illness will be reduced by the TPD payment, and this remaining cover will continue as long as you pay premiums on it. We will work out the remaining cover as well as the reduced premium you will need to pay for this remaining cover.

#### Terminal Illness (TI) Benefit

We will not pay this benefit if your claim arises from:
• deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
• unlawful acts, provoked assault, or deliberate exposure to danger; or
• the effects of alcohol, drugs or any dependence.

#### Retrenchment Benefit

We will not pay this benefit if your claim arises from
• retiring, leaving after a probation period, resigning or being dismissed;
• suffering a psychological condition, disability or illness;

[p.9]

• taking part in a labour dispute;
• coming to the end of an employment contract;
• being involved in a staff-reduction programme or unemployment you knew was going to happen before the cover start date;
• being employed for less than six months by an employer; or
• being employed by an employer not incorporated or registered in Singapore.

#### Other Conditions

After you have been continuously covered for two years from the cover start date, we will pay your claim unless:
• it is a case of fraud;
• you fail to pay a premium;
• the insured has a material pre-existing condition which you did not tell us about when you applied for this policy or rider if health declaration is required;
• you or the insured fail to tell us any significant information or information which is true, correct and complete which would have reasonably affected our decision to accept your application; or
• the claim is excluded or not covered under the terms of this policy or rider.

### 14. Free-Look

You will have 14 days from the date you receive the policy documents to be sure that you want to keep the policy. If we deliver the policy by email or any other electronic means to you, the 14 days will start 7 days after the date of the delivery. If we deliver the policy both by post and email or any other electronic means to you, the 14 days will start 7 days after the date of the delivery by post.

During this time, if you choose to cancel the policy, we will refund you the premiums you have paid, less any medical fees and other expenses such as payments for medical check-ups and medical reports incurred by us.

### 15. Grace Period

There is a 30 days grace period to pay the premiums due on your policy. If any benefits are due to be paid during this period, the unpaid premiums will be deducted from the benefits.

### 16. Lapse

If premiums are still not paid after the grace period, this policy and its riders (if any) may lapse. If this policy has sufficient cash value, the premiums for this policy and its riders (if any) can continue through a loan (called an automatic premium loan) and interest will be charged on the loan. The loan and interest will be deducted from any amount we may be due to pay under this policy. This policy and its riders (if any) will lapse when the amount of the loans and interest is more than the cash value of this policy.

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### 17. Reinstatement Period

If this policy and its riders (if any) ends because there is not enough cash value, you can reinstate this policy and its riders (if any) within 36 months by paying the premiums you owed along with interest. This applies as long as you give us satisfactory proof of the insured's good health and there is no change in the risks covered by this policy. However, if we do not ask for the insured's health declaration or medical checks at the time of application, then you need not give us satisfactory proof of the insured's good health.

### 18. Claim

To make a claim for death benefit, we must be told of the claim and all relevant documents to support the claim must be given within six months after the insured's death.

If the basic policy or rider provides for accidental death or accidental total and permanent disability (TPD) benefit, we must be told of the claim and all relevant documents to support the claim must be given within thirty days after the insured's death or TPD. If we are not told of the claim or have not received all relevant documents within thirty days, we will reject the claim unless we deem that you have a valid reason for the delay. You must also show that you have told us and given all relevant documents to support the claim to us as soon as reasonably possible.

To make a claim for other benefits, we must be told of the claim and all relevant documents to support the claim must be given within six months after the diagnosis or the event giving rise to the claim. If we are not told of the claim or have not received all relevant documents within six months, we will reject the claim unless we deem that you have a valid reason for the delay. You must also show that you have told us and given all relevant documents to support the claim to us as soon as reasonably possible.

If we are not told of the claim or have not received all relevant documents for any of your above claim within two years from the date of the event giving raise to the claim, we will not pay the claim.

When you submit a claim in relation to any benefit, we will process the claim across all the policies (and applicable riders) you hold with us. We will not accept any request to claim under only certain policies that you have with us.

When we pay a claim, we will not refund any premiums that have been paid.

### 19. Termination

You may write in to terminate or surrender your policy any time. Please refer to our webpage for the termination or surrender procedures: income.com.sg/claims/life-and-health-insurance/surrender-of-policies.

Please note that an early termination of the policy usually involves high costs and the surrender value payable (if applicable) may be zero or less than the total premiums paid.

[p.11]

### 17. Reinstatement Period

If this policy and its riders (if any) ends because there is not enough cash value, you can reinstate this policy and its riders (if any) within 36 months by paying the premiums you owed along with interest. This applies as long as you give us satisfactory proof of the insured's good health and there is no change in the risks covered by this policy. However, if we do not ask for the insured's health declaration or medical checks at the time of application, then you need not give us satisfactory proof of the insured's good health.

### 18. Claim

To make a claim for death benefit, we must be told of the claim and all relevant documents to support the claim must be given within six months after the insured's death.

If the basic policy or rider provides for accidental death or accidental total and permanent disability (TPD) benefit, we must be told of the claim and all relevant documents to support the claim must be given within thirty days after the insured's death or TPD. If we are not told of the claim or have not received all relevant documents within thirty days, we will reject the claim unless we deem that you have a valid reason for the delay. You must also show that you have told us and given all relevant documents to support the claim to us as soon as reasonably possible.

To make a claim for other benefits, we must be told of the claim and all relevant documents to support the claim must be given within six months after the diagnosis or the event giving rise to the claim. If we are not told of the claim or have not received all relevant documents within six months, we will reject the claim unless we deem that you have a valid reason for the delay. You must also show that you have told us and given all relevant documents to support the claim to us as soon as reasonably possible.

If we are not told of the claim or have not received all relevant documents for any of your above claim within two years from the date of the event giving raise to the claim, we will not pay the claim.

When you submit a claim in relation to any benefit, we will process the claim across all the policies (and applicable riders) you hold with us. We will not accept any request to claim under only certain policies that you have with us.

When we pay a claim, we will not refund any premiums that have been paid.

### 19. Termination

You may write in to terminate or surrender your policy any time. Please refer to our webpage for the termination or surrender procedures: income.com.sg/claims/life-and-health-insurance/surrender-of-policies.

Please note that an early termination of the policy usually involves high costs and the surrender value payable (if applicable) may be zero or less than the total premiums paid.

[p.12]

### 20. Performance Update

To evaluate the performance of your policy and the Life Participating Fund, you may wish to refer to the following documents:
i. Annual Bonus Update (sent annually to participating policyholders)
ii. Policyholder Annual Statement (sent annually to all policyholders)
iii. Post Sales Illustration (available upon request)

### 21. Policy Owners' Protection Scheme

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 Income Insurance or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).

## DISCLAIMER

This product summary does not form a part of the contract of insurance. It is only meant to be a simplified description of the product features which apply to this plan and does not explain the whole contract. The contents of this product summary may be different from the terms of cover eventually issued. Please read the policy contract for the precise terms, conditions and exclusions. Only the terms, conditions and exclusions in the policy contract will be enforceable by the policyholder and Income Insurance.

[p.12]

### 20. Performance Update

To evaluate the performance of your policy and the Life Participating Fund, you may wish to refer to the following documents:

i. Annual Bonus Update (sent annually to participating policyholders)
ii. Policyholder Annual Statement (sent annually to all policyholders)
iii. Post Sales Illustration (available upon request)

### 21. Policy Owners' Protection Scheme

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 Income Insurance or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).

## DISCLAIMER

This product summary does not form a part of the contract of insurance. It is only meant to be a simplified description of the product features which apply to this plan and does not explain the whole contract. The contents of this product summary may be different from the terms of cover eventually issued. Please read the policy contract for the precise terms, conditions and exclusions. Only the terms, conditions and exclusions in the policy contract will be enforceable by the policyholder and Income Insurance.

# Appendix A - List of External Fund Managers

## Appointed Managers:

1. Allianz Global Investors Singapore Limited - 79 Robinson Road #09-03 | Singapore 068897

2. Baillie Gifford Asia (HK) Limited - Suites 2713-2715, 8 Finance Street | Two International Finance Centre Central, Hong Kong

3. Blackstone Credit Hibiscus Feeder Fund LP - 345 Park Avenue, #31/F | New York, NY 10154

4. BlackRock - 20 Anson Road #18-01 | Twenty Anson Singapore 079912

5. CBRE Investment Management Indirect Limited - 2 Tanjong Katong Road #06-01 | Paya Lebar Quarter Singapore 437161

6. Cerberus Capital Management, L.P. - 875 Third Avenue, #10/F | New York, NY 10022

7. E Fund Management (HK) Co., Limited - Suites 3501-02, 8 Finance Street | Two International Finance Centre Central, Hong Kong

8. J.P. Morgan Asset Management - 88 Market Street #30/F | CapitaSpring Singapore 048948

9. MFS International Limited - 250 North Bridge Road #08-01 | Raffles City Tower Singapore 179101

10. Morgan Stanley Investment Management - 23 Church Street #16-01 | Capital Square Singapore 049481

11. PIMCO Asia Pte Ltd - 8 Marina View #30-01 | Asia Square Tower 1 Singapore 018960

12. SeaTown Private Strategies GP II Pte. Ltd. - 3 Fraser Street #06-23 | DUO Tower Singapore 189352

13. Schroder Investment Management Ltd - 138 Market Street #23-01 | CapitaGreen Singapore 048946

14. State Street Global Markets - Portfolio Solutions - 168 Robinson Road #33-01 | Capital Tower Singapore 068912

15. Wellington International Management Company Pte Ltd - 8 Marina Boulevard, #03-01 | Tower 1, Marina Bay Financial Centre Singapore 018981

16. Invesco Asset Management Singapore Limited - 9 Raffles Place #18-01 | Republic Plaza Singapore 048619

17. Russell Investments - 135 King Street #29/F | Sydney, NSW 2000, Australia

18. Fullerton Fund Management Company Ltd - 3 Fraser Street #09-28 | DUO Tower Singapore 189352

19. Barings LLC - 300 South Tryon Street, Suite 2500 | Charlotte, NC 28202

20. Blue Owl Capital - 399 Park Avenue, #37/F | New York, NY 10022

21. Ares Capital Management LLC - 245 Park Avenue, #44/F | New York, NY 10167

22. Churchill Asset Management - 375 Park Avenue, #9/F | New York, NY 10152

23. Goldman Sachs Asset Management, L.P. - 200 West Street, #15/F | New York, NY 10282

24. HPS Investment Partners, LLC - 40 West 57th Street, #33/F | New York, NY 10019

25. TPG Angelo Gordon - 245 Park Avenue, #26/F | New York, NY 10167

26. MGG Investment Group - One Pennsylvania Plaza, #53/F | New York, NY 10119

27. Crescent Credit Europe LLP - 2 Cavendish Square | London W1G 0PU

[p.13]

28. Permira Credit - 100 Pall Mall, #2F | London, SW1Y 5NQ

29. Coller Capital Limited - Park House, 116 Park Street | London, W1K 6AF

30. Crescent Capital Group - 11100 Santa Monica Boulevard, Suite 2000 | Los Angeles, CA 90025

31. Sixth Street Partners - 1 Letterman Dr, Building B/Yoda Fountain | San Francisco, CA 94129

32. CapitaLand Investment Limited - 168 Robinson Road, #30-01 Capital Tower | Singapore 068912

[p.14]

# Appendix B – Terminal Bonus Rates

## Terminal bonus rates at the illustrated investment rates of return of 4.25% p.a.

A terminal bonus (TB) defined as a percentage of the accumulated reversionary bonuses will top-up the total amount payable upon claim, surrender or maturity of the policy, if applicable. This TB is not-guaranteed and will be determined annually.

### i) Death / Terminal Illness / TPD

| Duration | Bonus Rate | Duration | Bonus Rate |
|---|---|---|---|
| 1 | 0% | 31 | 195% |
| 2 | 0% | 32 | 240% |
| 3 | 0% | 33 | 240% |
| 4 | 0% | 34 | 300% |
| 5 | 0% | 35 | 300% |
| 6 | 0% | 36 | 300% |
| 7 | 0% | 37 | 300% |
| 8 | 0% | 38 | 300% |
| 9 | 0% | 39 | 345% |
| 10 | 20% | 40 | 345% |
| 11 | 30% | 41 | 345% |
| 12 | 45% | 42 | 345% |
| 13 | 55% | 43 | 345% |
| 14 | 60% | 44 | 345% |
| 15 | 75% | 45 | 345% |
| 16 | 90% | 46 | 400% |
| 17 | 100% | 47 | 405% |
| 18 | 110% | 48 | 410% |
| 19 | 120% | 49 | 415% |
| 20 | 145% | 50 | 420% |
| 21 | 145% | 51 | 425% |
| 22 | 145% | 52 | 430% |
| 23 | 145% | 53 | 435% |
| 24 | 145% | 54 | 440% |
| 25 | 155% | 55 | 445% |
| 26 | 165% | 56 | 450% |
| 27 | 175% | 57 | 455% |
| 28 | 185% | 58 | 460% |
| 29 | 195% | 59 | 465% |
| 30 | 195% | 60 | 470% |

[p.15]

[p.16]

| Duration | Bonus Rate | Duration | Bonus Rate |
|---|---|---|---|
| 61 | 470% | 81 | 570% |
| 62 | 475% | 82 | 575% |
| 63 | 480% | 83 | 580% |
| 64 | 485% | 84 | 585% |
| 65 | 490% | 85 | 590% |
| 66 | 495% | 86 | 595% |
| 67 | 500% | 87 | 600% |
| 68 | 505% | 88 | 605% |
| 69 | 510% | 89 | 610% |
| 70 | 515% | 90 | 615% |
| 71 | 520% | 91 | 620% |
| 72 | 525% | 92 | 625% |
| 73 | 530% | 93 | 630% |
| 74 | 535% | 94 | 635% |
| 75 | 540% | 95 | 640% |
| 76 | 545% | 96 | 645% |
| 77 | 550% | 97 | 650% |
| 78 | 555% | 98 | 650% |
| 79 | 560% | 99 | 650% |
| 80 | 565% | | |

[p.17]

### ii) Surrender

| Duration | Bonus Rate | Duration | Bonus Rate |
|---|---|---|---|
| 1 | 0% | 31 | 650% |
| 2 | 0% | 32 | 650% |
| 3 | 0% | 33 | 650% |
| 4 | 0% | 34 | 650% |
| 5 | 0% | 35 | 650% |
| 6 | 0% | 36 | 650% |
| 7 | 0% | 37 | 650% |
| 8 | 0% | 38 | 650% |
| 9 | 0% | 39 | 650% |
| 10 | 50% | 40 | 650% |
| 11 | 100% | 41 | 650% |
| 12 | 125% | 42 | 650% |
| 13 | 150% | 43 | 650% |
| 14 | 175% | 44 | 650% |
| 15 | 200% | 45 | 650% |
| 16 | 250% | 46 | 650% |
| 17 | 300% | 47 | 650% |
| 18 | 350% | 48 | 650% |
| 19 | 400% | 49 | 650% |
| 20 | 450% | 50 | 650% |
| 21 | 500% | 51 | 650% |
| 22 | 550% | 52 | 650% |
| 23 | 600% | 53 | 650% |
| 24 | 600% | 54 | 650% |
| 25 | 600% | 55 | 650% |
| 26 | 600% | 56 | 650% |
| 27 | 600% | 57 | 650% |
| 28 | 600% | 58 | 650% |
| 29 | 600% | 59 | 650% |
| 30 | 650% | 60 | 650% |

[p.18]

[p.19]

| Duration | Bonus Rate | Duration | Bonus Rate |
|---|---|---|---|
| 61 | 650% | 81 | 650% |
| 62 | 650% | 82 | 650% |
| 63 | 650% | 83 | 650% |
| 64 | 650% | 84 | 650% |
| 65 | 650% | 85 | 650% |
| 66 | 650% | 86 | 650% |
| 67 | 650% | 87 | 650% |
| 68 | 650% | 88 | 650% |
| 69 | 650% | 89 | 650% |
| 70 | 650% | 90 | 650% |
| 71 | 650% | 91 | 650% |
| 72 | 650% | 92 | 650% |
| 73 | 650% | 93 | 650% |
| 74 | 650% | 94 | 650% |
| 75 | 650% | 95 | 650% |
| 76 | 650% | 96 | 650% |
| 77 | 650% | 97 | 650% |
| 78 | 650% | 98 | 650% |
| 79 | 650% | 99 | 650% |
| 80 | 650% | | |