# Version 1.26

# PRODUCT SUMMARY

# Provenance Solitaire (VPMW & VPVW)

## 1. Policy Description

Provenance Solitaire is a single premium whole life insurance plan that includes Provenance Solitaire – Protection Benefit, a single premium compulsory rider. This plan provides protection against death and terminal illness during the policy term.

Provenance Solitaire is a participating life insurance policy. 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.

Provenance Solitaire – Protection benefit is a non-participating compulsory rider that does not form part of the Life Participating Fund and no bonus is payable on the benefit.

## 2. Benefits

### 2.1 Death and Terminal Illness (TI) Benefit

Upon death or terminal illness of the insured during the policy term, the benefit shown in Table 1 will be paid.

| Age of the insured when claim event occurs | Benefit |
|---|---|
| Before the anniversary immediately after the insured reaches the age of 85 | • 100% of sum assured and 100% of bonuses; or • Minimum protection value according to Table 2; whichever is higher. |
| On or after the anniversary immediately after the insured reaches the age of 85 | 100% of sum assured and 100% of bonuses. |

**Table 2**

| Age of the insured at policy entry date (age last birthday) | Minimum protection value |
|---|---|
| 0 – 45 | 320% of sum assured |
| 46 – 50 | 280% of sum assured |
| 51 – 55 | 250% of sum assured |
| 56 – 60 | 210% of sum assured |
| 61 – 65 | 180% of sum assured |
| 66 – 70 | 150% of sum assured |
| 71 – 75 | 115% of sum assured |

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 terminal illness.

[p.2]

### 2.2 Surrender Value

The surrender value upon surrender of the policy consists of a guaranteed surrender value component and a nonguaranteed surrender value component.

The policy has an immediate surrender value after the single premium has been paid.

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.

i. 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**

0.35% of sum assured compounded at 0.35%

ii. Terminal 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.

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.

[p.3]

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

### 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.

[p.4]

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 2022.

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.

[p.5]

## 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

A single premium amount is payable at policy inception.

This plan may be purchased with cash only.

## 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.

### 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.

### Terminal Illness Benefit

This benefit is not payable 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.

### Other Conditions

After you have been continuously covered for one year 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. Claim

To make a claim for death benefit, we must be told within six months after the insured's death.

If this policy provides for accidental death or accidental total and permanent disability (TPD) benefit, we must be told within thirty days after the insured's death or TPD. If you tell us after the thirty days, we will not pay the claim for accidental death or accidental TPD benefit.

To make a claim for other benefits, we must be told within six months after the diagnosis or the event giving rise to the claim. If you tell us after the six months, we will not pay the claim for the other benefits.

When we pay a claim, we will not refund premiums paid.

Please refer to our webpage for the claim procedures: income.com.sg/claims.

[p.6]

### Terminal Illness Benefit

This benefit is not payable 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.

### Other Conditions

After you have been continuously covered for one year 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.

## 16. 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.

## 17. 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)

## 18. 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.7]

# 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

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.8-11]

# 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

| Duration | Bonus Rate | Duration | Bonus Rate |
|---|---|---|---|
| 1 | 40% | 31 | 1393% |
| 2 | 150% | 32 | 1393% |
| 3 | 261% | 33 | 1393% |
| 4 | 680% | 34 | 1422% |
| 5 | 680% | 35 | 1431% |
| 6 | 680% | 36 | 1431% |
| 7 | 680% | 37 | 1431% |
| 8 | 680% | 38 | 1431% |
| 9 | 1181% | 39 | 1431% |
| 10 | 1181% | 40 | 1431% |
| 11 | 1181% | 41 | 1431% |
| 12 | 1181% | 42 | 1431% |
| 13 | 1181% | 43 | 1431% |
| 14 | 1276% | 44 | 1431% |
| 15 | 1276% | 45 | 1431% |
| 16 | 1276% | 46 | 1431% |
| 17 | 1276% | 47 | 1431% |
| 18 | 1276% | 48 | 1431% |
| 19 | 1276% | 49 | 1431% |
| 20 | 1276% | 50 | 1431% |
| 21 | 1276% | 51 | 1431% |
| 22 | 1276% | 52 | 1431% |
| 23 | 1276% | 53 | 1431% |
| 24 | 1393% | 54 | 1431% |
| 25 | 1393% | 55 | 1431% |
| 26 | 1393% | 56 | 1431% |
| 27 | 1393% | 57 | 1431% |
| 28 | 1393% | 58 | 1431% |
| 29 | 1393% | 59 | 1431% |
| 30 | 1393% | 60 | 1431% |

[p.12]

| Duration | Bonus Rate |
|---|---|
| 61 | 1431% |
| 62 | 1431% |
| 63 | 1431% |
| 64 | 1431% |
| 65 | 1431% |
| 66 | 1431% |
| 67 | 1431% |
| 68 | 1431% |
| 69 | 1431% |
| 70 | 1431% |
| 71 | 1431% |
| 72 | 1431% |
| 73 | 1431% |
| 74 | 1431% |
| 75 | 1431% |
| 76 | 1431% |
| 77 | 1431% |
| 78 | 1431% |
| 79 | 1431% |
| 80 | 1431% |
| 81 | 1431% |
| 82 | 1431% |
| 83 | 1431% |
| 84 | 1431% |
| 85 | 1431% |
| 86 | 1431% |
| 87 | 1431% |
| 88 | 1431% |
| 89 | 1431% |
| 90 | 1431% |
| 91 | 1431% |
| 92 | 1431% |
| 93 | 1431% |
| 94 | 1431% |
| 95 | 1431% |
| 96 | 1431% |
| 97 | 1431% |
| 98 | 1431% |
| 99 | 1431% |
| 100 | 1431% |
| 101 | 1431% |
| 102 | 1431% |
| 103 | 1431% |
| 104 | 1431% |
| 105 | 1431% |
| 106 | 1431% |
| 107 | 1431% |
| 108 | 1431% |
| 109 | 1431% |
| 110 | 1431% |
| 111 | 1431% |
| 112 | 1431% |
| 113 | 1431% |
| 114 | 1431% |
| 115 | 1431% |
| 116 | 1431% |
| 117 | 1431% |
| 118 | 1431% |
| 119 | 1431% |
| 120 | 1431% |

[p.13]

### ii) Surrender

| Duration | Bonus Rate | Duration | Bonus Rate |
|---|---|---|---|
| 1 | 0% | 31 | 680% |
| 2 | 0% | 32 | 714% |
| 3 | 0% | 33 | 736% |
| 4 | 0% | 34 | 750% |
| 5 | 0% | 35 | 765% |
| 6 | 24% | 36 | 779% |
| 7 | 49% | 37 | 794% |
| 8 | 73% | 38 | 808% |
| 9 | 98% | 39 | 823% |
| 10 | 122% | 40 | 845% |
| 11 | 147% | 41 | 905% |
| 12 | 171% | 42 | 927% |
| 13 | 195% | 43 | 949% |
| 14 | 220% | 44 | 977% |
| 15 | 244% | 45 | 1005% |
| 16 | 279% | 46 | 1032% |
| 17 | 313% | 47 | 1060% |
| 18 | 346% | 48 | 1088% |
| 19 | 381% | 49 | 1116% |
| 20 | 415% | 50 | 1143% |
| 21 | 450% | 51 | 1177% |
| 22 | 483% | 52 | 1221% |
| 23 | 517% | 53 | 1249% |
| 24 | 552% | 54 | 1277% |
| 25 | 586% | 55 | 1304% |
| 26 | 601% | 56 | 1332% |
| 27 | 615% | 57 | 1360% |
| 28 | 629% | 58 | 1388% |
| 29 | 644% | 59 | 1415% |
| 30 | 658% | 60 | 1431% |

[p.14]

| Duration | Bonus Rate |
|---|---|
| 61 | 1431% |
| 62 | 1431% |
| 63 | 1431% |
| 64 | 1431% |
| 65 | 1431% |
| 66 | 1431% |
| 67 | 1431% |
| 68 | 1431% |
| 69 | 1431% |
| 70 | 1431% |
| 71 | 1431% |
| 72 | 1431% |
| 73 | 1431% |
| 74 | 1431% |
| 75 | 1431% |
| 76 | 1431% |
| 77 | 1431% |
| 78 | 1431% |
| 79 | 1431% |
| 80 | 1431% |
| 81 | 1431% |
| 82 | 1431% |
| 83 | 1431% |
| 84 | 1431% |
| 85 | 1431% |
| 86 | 1431% |
| 87 | 1431% |
| 88 | 1431% |
| 89 | 1431% |
| 90 | 1431% |
| 91 | 1431% |
| 92 | 1431% |
| 93 | 1431% |
| 94 | 1431% |
| 95 | 1431% |
| 96 | 1431% |
| 97 | 1431% |
| 98 | 1431% |
| 99 | 1431% |
| 100 | 1431% |
| 101 | 1431% |
| 102 | 1431% |
| 103 | 1431% |
| 104 | 1431% |
| 105 | 1431% |
| 106 | 1431% |
| 107 | 1431% |
| 108 | 1431% |
| 109 | 1431% |
| 110 | 1431% |
| 111 | 1431% |
| 112 | 1431% |
| 113 | 1431% |
| 114 | 1431% |
| 115 | 1431% |
| 116 | 1431% |
| 117 | 1431% |
| 118 | 1431% |
| 119 | 1431% |
| 120 | 1431% |

[p.15]

---

# Version 1.24

# PRODUCT SUMMARY

# PROVENANCE DISABILITY ACCELERATOR (TSN3)

## 1. Rider Description

Provenance Disability Accelerator is an accelerated rider attached to a basic policy. It is a non-participating, single premium accelerated rider that provides total and permanent disability (TPD) cover for a limited period of time.

The rider term will follow the basic policy term, subject to the maximum coverage of before the anniversary immediately after the insured reaches the age of 70. The sum assured of this rider cannot exceed the sum assured of its basic policy.

## 2. Benefits

### Total and Permanent Disability (TPD) Benefit

If the insured becomes TPD (before the anniversary immediately after the insured reaches the age of 70) during the term of this rider, we will pay:

(a) 100% of this rider's sum assured and corresponding pro-rated bonuses of the basic policy; or
(b) 100% of this rider's minimum protection value according to Table 1;

whichever is higher.

| Age of the insured at policy entry date (age last birthday) | Minimum protection value |
|---|---|
| 0 – 45 | 320% of sum assured |
| 46 – 50 | 280% of sum assured |
| 51 – 55 | 250% of sum assured |
| 56 – 60 | 210% of sum assured |
| 61 – 64 | 180% of sum assured |

This rider will end after we make this payment.

Any payment under this rider will form an accelerated payment and reduce the sum assured and bonuses of its basic policy and other accelerated riders of its basic policy by the same amount we pay under this rider.

We will work out any future claims based on the reduced sum assured. This rider will end immediately when its basic policy ends or when we have fully paid the sum assured of this rider.

Please refer to the policy contract for the exact terms and definition of TPD.

[p.16]

## 3. Premiums

A single premium amount is payable at policy inception.

This plan may be purchased with cash only.

## 4. Exclusions

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

Under the definition of total and permanent disability (TPD), if the insured is under 65 years old, he or she must be unable to carry out any occupation. The rider does 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 becomes totally and permanently disabled when the insured is 65 years old and above (but before the anniversary immediately after the insured reaches the age of 70), the insured must be suffering from a severe disability. Otherwise, we will not pay the benefit.

However, if there is total physical loss before the anniversary immediately after the insured reaches the age of 70, the rider will pay the benefit.

The benefit is not payable if the 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 registered medical practitioner to have been totally and permanently disabled for at least six months in a row.

If the insured is also covered for TPD under any policies which have been issued in the past (whether issued by us or by any other insurer), the total TPD benefit due under all these policies cannot be more than S$6.5 million (including premiums waived due to TPD 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 TPD but excluding bonuses).

### Other Conditions

After you have been continuously covered for one year 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.

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## 5. Claim

To make a claim for death benefit, we must be told within six months after the insured's death.

If this policy provides for accidental death or accidental total and permanent disability (TPD) benefit, we must be told within thirty days after the insured's death or TPD. If you tell us after thirty days, we will not pay the claim for accidental death or accidental TPD benefit.

To make a claim for other benefits, we must be told within six months after the diagnosis or the event giving rise to the claim. If you tell us after the six months, we will not pay the claim for the other benefits.

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

Please refer to our webpage for the claim procedures: income.com.sg/claims.

## 6. Termination

This rider will end immediately when the basic policy ends or when the sum assured of this rider is fully paid.

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

If you terminate or surrender your rider before the end of the rider term, we will end your rider and we will not refund any unused premium. You will not be able to reinstate the rider after it has ended.

## 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 Limited (Income Insurance).

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