# PRODUCT SUMMARY
## Singlife Smart Saver

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### 1. DESCRIPTION OF PRODUCT

This is an endowment insurance plan that facilitates wealth accumulation by allowing You to choose Your savings goal (Sum Assured) and provides You with a range of flexible savings terms to tailor Your plan to suit Your needs. This plan provides You with the Death Benefit (including Accidental Death Benefit) and the Terminal Illness Benefit.

This is a participating Policy that allows You to participate in the performance of Our Participating Fund in the form of non-guaranteed bonuses.

Note: "You" / "Your" relates to the Policyholder. "We"/ "Us" / "Our" relates to Singapore Life Ltd.

### Product At-a-glance

- Kick start Your savings plan by deciding on Your choice of Sum Assured* on the basic plan.
- Choose to save towards Your savings goal with a Single Premium or limited premium payment term of 3, 5, 10, 12, 15, 18, 20 or 25 years.
- For limited premium payment term Policy, choose to pay either monthly, quarterly, half-yearly or yearly.
- Choose a Policy Term from 10 to 25 years or cover to 99 Age Next Birthday (ANB), to meet Your needs. Policy Term must be 3 years or more than premium payment term.
- Benefit from the flexibility to withdraw accumulated Reversionary Bonuses for its cash value should the need arise.
- Enjoy peace of mind with Death (including Accidental Death) and Terminal Illness coverage offered under this plan.
- Retrenchment Benefit: Waives premium if involuntarily unemployed.
- Flexibility to change the Life Assured of Your Policy to meet Your family or Your needs.
- Option to appoint a Secondary Life Assured to ensure continuity of Policy.
- Option to distribute the Policy into sub-policies for legacy planning.
- Receive 100% of Sum Assured plus bonuses as Maturity Benefit at the end of the Policy term.
- Capital guarantee upon maturity.
- Guaranteed issuance upon application. No medical underwriting is required.
- Add on Supplementary Benefit(s) for the extra peace of mind where available.

Note: * The Sum Assured on the basic plan is not the Death Benefit. It is used to determine the Reversionary Bonus, Accidental Death Benefit and Maturity Benefit. Please refer to the section on Death Benefit for more details.

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## 2. PLAN BENEFITS

The benefits (including any guaranteed and non-guaranteed payouts) are provided by Us and are not obligations of or guaranteed by Our distributors. You are subject to Our credit risk.

### 2.1 MATURITY BENEFIT

On survival of the Life Assured to the Policy maturity, You will receive a Maturity Benefit consisting of the following:

(a) 100% of Sum Assured;
(b) the accumulated Reversionary Bonus (if any); and
(c) the Terminal Bonus (if any)

less any amounts owing to Us.

Please refer to the Policy Illustration for the illustrated Maturity Benefit You may receive at the end of the Policy term.

### 2.2 NON-GUARANTEED BONUSES FROM SINGAPORE LIFE LTD.'S PARTICIPATING FUND

You will enjoy both Reversionary and Terminal Bonuses as We distribute a share of Our Participating Fund profit to You in the form of such bonuses.

Reversionary Bonus is non-guaranteed, but once declared and vested, it forms part of the guaranteed benefit of the Policy.

Terminal Bonus is non-guaranteed and it may be credited upon surrender of the Policy, death of the Life Assured or upon Policy maturity.

For more details, please refer to the section on "Non-guaranteed Bonuses Payable".

### 2.3 CASH SURRENDER VALUE

For single premium payment term, Your Policy will acquire a cash value upon the inception of the Policy and upon receipt of the Single Premium.

For limited premium payment term, Your Policy will acquire a cash value from the start of the:

- 2nd Policy Year for Policy with 3 years premium payment term; or
- 3rd Policy Year for Policy with 5, 10, 15, 20 or 25 years premium payment term;

as long as premiums are paid up-to-date.

The Guaranteed Cash Surrender Value will be at least equivalent to the Total Premiums Paid as at the Policy Maturity Date.

Please refer to the Policy Illustration for the illustrated Cash Surrender Value You may acquire if You surrender the Policy early.

As buying a life insurance Policy is a long-term commitment, an early termination of the Policy usually involves high costs and the surrender value, if any, that is payable to You may be zero or less than the Total Premiums Paid.

### 2.4 INSURANCE COVERAGE AVAILABLE

#### A. DEATH BENEFIT

While the Policy is in force, in the event of death of the Life Assured:

The Death Benefit payable will be the sum of:

(a) the higher of:
- (i) 105% of the Total Premiums Paid on the basic plan up to the date of death; or
- (ii) the Guaranteed Cash Surrender Value;

(b) the accumulated Reversionary Bonus (if any); and
(c) the Terminal Bonus (if any)

less any amounts owing to Us.

#### B. ACCIDENTAL DEATH BENEFIT

If the Life Assured dies from an Accidental Injury while the Policy is in force and before the commencement of the Policy Year in which he turns 80 ANB, We will pay 100% of Sum Assured on the basic plan, in addition to the Death Benefit in one lump sum.

The total Accidental Death Benefit payable shall not exceed two million Singapore dollars (SGD2,000,000) in aggregate for the following:

(a) Accidental Death Benefit under the Policy; and
(b) any other policy issued by Us which do not require any medical underwriting and covers Accidental Death Benefit as Basic Benefit of the basic plan in respect of the same Life Assured (except for Singlife Accident Guard).

"Accident" means an external, unexpected, unforeseen and unintentional incident upon the Life Assured which is not a symptom of a disease or illness.

"Accidental Injury" means bodily injury caused solely and directly by an Accident, directly and independently of any other cause(s), of which, there is as evidence, a visible contusion or wound on the exterior of the body. For the purpose of the Policy, Accidental Injury must result directly and independently of any other cause in the death of the Life Assured within 180 days of the Accident.

#### C. TERMINAL ILLNESS BENEFIT

Upon diagnosis of Terminal Illness of the Life Assured while the Policy is in force, We will pay the Terminal Illness Benefit in one lump sum, as an advance of the Death Benefit.

"Terminal Illness" any condition caused by illness or injury, where at the time of claim, despite all reasonable medical treatment, the Life Assured is expected to live for no more than 12 months.

The specialist medical practitioner treating the condition must provide supporting evidence of the condition, possible medical treatment, the prognosis after undergoing the possible medical treatment, and certify that the Life Assured is expected to live for no more than 12 months despite all possible medical intervention. We reserve the right to appoint an independent medical specialist who is an expert in the condition to confirm the diagnosis and prognosis.

Terminal Illness in the presence of Human Immunodeficiency Virus (HIV) infection is excluded.

#### D. SUPPLEMENTARY BENEFITS

Subject to Our terms and conditions and provided the Supplementary Benefits are available at point of Your application, You can request to add on additional Supplementary Benefits to Your Policy during the Policy term. Extra premiums are payable for these additional Supplementary Benefits. Please refer to the respective Supplementary Benefits' Terms and Conditions for the full details of exclusions.

### 2.5 RETRENCHMENT BENEFIT
#### FOR RETRENCHMENT OR UNEMPLOYMENT

We will waive the instalment premiums payable on the Policy provided that We have received and accepted satisfactory proof that the Life Assured of minimum 17 ANB has been retrenched or unemployed and has remained involuntarily unemployed for a period of 3 consecutive months following the retrenchment or unemployment. Your request must be submitted to Us within 6 months from the date of retrenchment or unemployment.

After You have satisfied the conditions of unemployment or retrenchment, We will waive the instalment premiums payable on the Policy for 12 months from the next premium due date immediately after We received and approved the request. If the remaining premium term is less than 12 months, the instalment premiums payable for the remaining months will be waived.

There is a waiting period of 6 months from the policy issue date before You can exercise this benefit.

Premiums must resume at the end of the waiver of premium period. For premiums that are due for payment and the Life Assured does not satisfy the unemployment conditions, You still need to pay the premiums or Automatic Premium Loan will be advanced to pay for the overdue premiums.

This Retrenchment Benefit can be exercised once per Policy.

You must exercise this benefit before the Policy Anniversary when the Life Assured attains 65 ANB.

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## 3. PLAN FEATURES

### 3.1 ELIGIBILITY

You can choose a:

(a) Single premium payment term; or
(b) Limited premium payment term of 3 years, 5 years, 10 years, 12 years, 15 years, 18 years, 20 years or 25 years.

You can choose from a range of Policy term:

(a) from 10 to 25 years; or
(b) cover up to the Policy Anniversary immediately following the date on which the Life Assured attained Age 99 at next birthday,

subject to Policy term must be 3 years or more than premium payment term.

| Life Assured Entry Age (Age-Next-Birthday "ANB" basis) |  |  |  |  |
|---|---|---|---|---|
| Premium Payment Term (year) | Payment method other than SRS |  | SRS |  |
|  | Entry Age (ANB) |  | Entry Age (ANB) |  |
|  | Minimum | Maximum | Minimum | Maximum |
| Single Premium (1) | 1 | 70 | 19^ | 70^ |
| 3 | NA | NA |  |  |
| 5 |  |  |  |  |
| 10 |  |  |  |  |
| 12 | 68 |  |  |  |
| 15 | 65 |  |  |  |
| 18 | 62 |  |  |  |
| 20 | 60 |  |  |  |
| 25 | 55 |  |  |  |

^ Subject to prevailing SRS Guidelines

| Assured/Policyholder Entry Age (Age-Next-Birthday "ANB" basis) |  |
|---|---|
| Entry Age (ANB) |  |
| Minimum | Maximum |
| 17 | 99 |

Ownership basis: Single Life Policy (where the Life Assured is the Policyholder) or Third Party Policy (based on (i) husband and wife basis for Life Assured of 17 ANB and above; or (ii) Juvenile life basis for Life Assured of 18 ANB and below).

### 3.2 PREMIUMS

You may choose to pay Your basic premiums in a single premium or with regular payment either monthly, quarterly, half-yearly or yearly, in the mode and method specified by Us.

Except for the first basic premium, subsequent basic premiums must be paid within a period of 30 days (the "Grace Period") from the premium due date. You should ensure that the basic premiums are paid in time to prevent a possible termination of the plan.

Premium rates are guaranteed throughout the premium payment term.

### 3.3 WITHDRAWAL OF ACCUMULATED REVERSIONARY BONUSES

Where applicable, You may choose to either fully or partially withdraw the cash value of the accumulated Reversionary Bonus. The minimum amount for a withdrawal is SGD1,000 (in multiples of SGD10) or the balance available, whichever is available.

### 3.4 SURRENDER OF THE PLAN

While Your Policy is in force and has acquired cash value, You may choose to fully surrender the Policy at any time to receive a lump sum payment consisting of its Cash Surrender Value. Your Policy will end upon full surrender of the Policy.

You also have the option to partially surrender the Policy by reducing the Sum Assured (subject to the minimum Sum Assured of the basic plan) and receive the partial Cash Surrender Value in a lump sum. The Sum Assured of the basic plan after the partial surrender will be reduced accordingly.

For Policy funded with SRS monies, the lump sum payment will be credited back to the SRS account as per prevailing SRS Guidelines.

### 3.5 POLICY LOAN

You may opt for a Policy Loan of up to 65% of the Cash Surrender Value less any amounts owing to Us. The prevailing minimum loan amount and Policy loan rate will be applicable and they are subject to changes according to Our prevailing terms and conditions. The interest rate is non-guaranteed.

### 3.6 CHANGE OF LIFE ASSURED

The change of Life Assured is allowed:

(a) after the first Policy Year, up to 3 times;
(b) subject to satisfactory evidence that the new Life Assured has sufficient insurable interest (in relation to the Policyholder); and
(c) subject to the new Life Assured meeting the conditions in section 3.1.

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The change of Life Assured is not allowed:

(a) once the Life Assured or the Assured dies;
(b) once a claim has been admitted for any of the Supplementary Benefits covering the Life Assured;
(c) once a claim has been admitted to waive the premiums of the basic plan; or
(d) once the Reduced Paid Up option has been activated;

We reserve the right to adjust the premiums in accordance to the new Life Assured subject to the terms and conditions of the Policy. The change of Life Assured will take effect from the Policy Anniversary immediately following the date We accept Your request to change the Life Assured. Once the change of Life Assured is effective, all Supplementary Benefits attached to the Policy will be terminated except for the Supplementary Benefits covering the Assured of a policy where the Assured and Life Assured are not the same person. The action to change the Life Assured cannot be reversed once the change of Life Assured is effective.

If there is any claim submitted on the existing Life Assured before the effective date of the change of Life Assured and the claim is payable, We will pay the claim and void the request for change of Life Assured.

Upon Our acceptance of the new Life Assured for the Policy, all the coverage on the previous Life Assured will cease on the effective date of the change of Life Assured. Once the change of Life Assured comes into effect, We reserve the right not to accept any written notice and proof of claim given to Us on the previous Life Assured(s) regardless if the claim event happened before the change of Life Assured was effective.

The Change of Life Assured is not available if You paid the Single Premium using funds from SRS.

### 3.7 SECONDARY LIFE ASSURED

You can apply to appoint a Secondary Life Assured:

(a) at policy application or during policy term;
(b) the Secondary Life Assured is You, Your spouse or Your child, if the Assured of the Policy is an individual;
(c) subject to the Secondary Life Assured meeting the conditions in section 3.1.

The appointment of Secondary Life Assured is not allowed:

(i) once the Life Assured or the Assured dies;
(ii) once a claim has been admitted for any of the Supplementary Benefits covering the Life Assured;
(iii) once a claim has been admitted to waive the premiums of the basic plan;
(iv) once the Reduced Paid Up option has been activated; or
(v) if a beneficiary has been nominated or a trust has been created.

You may apply to change the Secondary Life Assured up to 3 times. Changes include the:

(a) appointment of Secondary Life Assured,
(b) changing of Secondary Life Assured; and
(c) removal of Secondary Life Assured.

Premiums for the Basic Benefits will remain the same.

If any claim is made on the original Life Assured before the appointment of Secondary Life Assured takes effect and the claim is payable, We will pay the claim and reject the request for appointment of Secondary Life Assured.

The appointment of Secondary Life Assured is not available if You paid the Single Premium using funds from SRS.

### 3.8 LEGACY DISTRIBUTION OPTION

You can apply to distribute the Policy into sub-policies before the policy matures. Each sub-policy will be a standalone Policy and must meet the minimum guaranteed surrender value requirement.

This option can only be exercised once. It can be exercised:

(a) 5 years from Policy Effective Date; or
(b) after the Premium Cessation Date,

whichever is later.

This option cannot be exercised if:

(a) there is outstanding Policy Loan (including interest);
(b) there are pending claims under the Policy;
(c) a beneficiary has been nominated, a Secondary Life Assured has been appointed or a trust has been created; or
(d) the Reduced Paid Up option has been activated;

This option is not available if You paid the Single Premium using funds from SRS.

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### 3.9 LIFE STAGE ADD-ON

While this Policy is in force, the original Assured has the option to buy another add-on savings plan, at least 6 months after the Policy Issue Date, subject to the add-on savings plan's availability, Our approval and the prevailing terms, conditions and guidelines at the time of purchase.

This benefit is available to the original Assured only.

Premiums for the prevailing add-on savings plan will be lower than the prevailing main plan. However, the premium of the prevailing add-on savings plan may be higher or lower than the main plan purchased.

We reserve the right to review the plans available for this benefit and substitute it with another plan of Our choice.

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## 4. SINGAPORE LIFE LTD.'S PARTICIPATING FUND

### 4.1 NON-GUARANTEED BONUSES PAYABLE

We distribute a share of Our Participating Fund profit to You in the form of bonus payments as follows:

#### Reversionary Bonus (RB)

This is a payment determined annually by Us based on the divisible surplus of Singapore Life Ltd. for the relevant Policy Year and credited to You on the following Policy Anniversary.

The annual RB rate# is illustrated at SGD5 per SGD1,000 of the basic Sum Assured. Once bonus is added, it forms part of the guaranteed benefit of the Policy, and is illustrated to compound at SGD5 per SGD1,000 on the accumulated RB.

The accumulated RB may be withdrawn for its equivalent cash value, either partially or fully.

#### Terminal Bonus (TB)

This is a payment to be determined by Us which may be credited to You upon Policy maturity, surrender of the Policy or death of the Life Assured.

The TB rate on death, surrender or Policy maturity# (as a % of accumulated RB) can be found in Appendix A.

#RB indicated above and TB indicated in Appendix A are based on an illustrated investment rate of return of 4.25% p.a., which is the higher rate as illustrated in the Policy Illustration.

In comparison, at an illustrated investment rate of return of 3.00% p.a., 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 amounts at the illustrated investment rate of return of 3.00% p.a. and 4.25% p.a. 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.

**All bonuses are not guaranteed and depend on the performance of Our Participating Fund.**

**All guaranteed benefits, including bonuses which have already been allocated to the Participating Fund Policyholders, will be provided for regardless of the performance of Our Participating Fund.**

**All future bonuses of the Policy which have yet to be allocated to the Participating Fund Policyholders are not guaranteed and We will decide the level of bonus to be declared each year, as approved by Our Board of Directors (the "Board"), taking into account the written recommendation of the Appointed Actuary.**

### 4.2 DETAILS ON INVESTMENT OF ASSETS OF THE PARTICIPATING LIFE INSURANCE FUND

We currently operate only one sub-fund ("Par sub-fund") within the main Participating Fund.

As investment best practice and to ensure that We continue to be able to maintain an acceptable overall risk level, We may opt for a specific investment strategy for a particular product or particular group of products, creating different investment pools within the Par sub-fund.

#### Investment Objective and Strategy of the Combined Assets Backing the Policy

The investment objective of the different investment pools within the Par sub-fund is to select appropriate investments, to earn a competitive rate (allowing for the effect of taxation) commensurate with acceptable levels of solvency risks, having regard to the:

- nature and term of the particular product or group of products within each investment pool;
- immediate cashflow needs arising from the product or group of products within the investment pool;
- prevailing local regulatory and Singapore Life Holdings Pte. Ltd.'s requirements;
- expected returns and volatility of different asset classes; and
- investment-related risks, mainly market, credit, interest rate, currency and liquidity risks.

Through meeting the investment objective, We aim to provide stable medium to long-term returns to Our Par sub-fund Policyholders and strive for bonuses that are fair and equitable to the Par sub-fund Policyholders.

We hold a wide range of assets to back the Par sub-fund policies and it regularly reviews the long-term asset allocation of each investment pool within the Par sub-fund with due regard to the Par sub-fund's investment objectives. As part of its investment strategy, maximum and minimum exposures to, and performance benchmarks for different asset classes are also set in accordance with the fund objectives.

The long-term asset allocation of the Par sub-fund includes some higher risk investments, which We expect to provide a higher return, such as equities, property and others, as well as lower risk investments such as fixed income, cash and deposits. As the Par sub-fund gets smaller and policies on average get closer to maturity, We expect that We will invest less in higher risk investments and more in lower risk investments.

The Par sub-fund is managed by our in-house team who start with a strategic asset allocation designed with target return, liability, risk management and sustainability considerations. It may use external specialist fund managers to manage certain asset classes, including private equity and hedge funds.

#### Investment Mix

As described above, the long-term investment mix (strategic asset allocation) may differ between different products or group of products belonging to different investment pools.

For the investment pool that this plan belongs to, the asset allocation is as follows:

| Asset Class | Strategic Asset Allocation | Asset Allocation as at 31 Dec 2024 |
|---|---|---|
| Fixed Income | 70% | 73% |
| Equities | 21% | 19% |
| Property | 7% | 5% |
| Other Assets## | 2% | 3% |

##Other Assets include cash, derivatives and money market securities

Note: The actual asset allocation may be different from the Strategic Asset Allocation but will be within an asset allocation range that is stipulated in Our Investment Policy and approved by the Board.

#### Total Expense Ratio

The Total Expense Ratio is the proportion of total expenses incurred by the Participating Fund to the assets of the 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 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 varies significantly from the expected level of expenses, it may affect the non-guaranteed benefits You may receive.

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

| | 2022 | 2023 | 2024 | Averaged over the last 3 years | Averaged over the last 5 years | Averaged over the last 10 years |
|---|---|---|---|---|---|---|
| Total Expense Ratio | 1.95% | 2.26% | 3.18% | 2.50% | 2.50% | 2.60% |

Please note that historical expense ratios may not be indicative of future expense ratios.

The total expense ratio is calculated based on the following formula:

Total Expense Ratio (%) = (Total Expenses / Average Asset Value **) x 100

** The average asset value is computed based on the average of the asset value at the beginning and ending period for the year of computation.

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#### Investment Rate of Return

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

| | 2022 | 2023 | 2024 | Averaged over the last 3 years | Averaged over the last 5 years | Averaged over the last 10 years |
|---|---|---|---|---|---|---|
| Investment Returns | -13.57% | 5.66% | 4.08% | -1.68% | 0.82% | 3.00% |

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

#### Key Factors Affecting the Performance of the Participating Fund and Level of Bonuses

Within the Participating Fund, the factors affecting the sub-fund's and investment pools' performance and level of bonuses include:

- the Par sub-fund's investment performance (including the credit risk of the Par sub-fund assets) and its future outlook;
- Our running costs, which include administrative costs, investment costs and commission to intermediaries;
- the tax We have to pay;
- the shareholders' share of profits, which is tied directly to the bonuses declared;
- the claims We have to pay, such as death and surrender claims; and
- other profit and losses in the Par sub-fund.

We will determine the level of bonuses taking into account the current performance as well as future outlook for the Par sub-fund.

#### Sharing of Risks

The Participating Fund provides sharing of risk for Policyholders – this smoothens out the ups and downs that individual Policyholders would have experienced if they have invested independently and directly.

Where a specific investment strategy or strategic asset allocation is being adopted, there will be minimal interactions ("cross subsidies") between investment returns from the different investment pools. However, in certain circumstances, cross subsidies between investment returns from the different investment pools may be allowed subject to the approval of the Appointed Actuary and the investment committee which consists of senior members of Our management team. There remains to be cross subsidies between the other key factors affecting the performance of the Par sub-fund and level of bonuses stated above. Surplus of assets in one investment pool may be used to support shortfall of assets in another investment pool to ensure that the Par Fund remains solvent.

The values of the assets supporting the products are determined by accumulating the cash flows for each product or group of products. This is calculated by accumulating the premium income plus the investment return, less deductions for expenses, tax, commission, the cost of providing benefits, the shareholders' share of profits as well as other costs that may be incurred in managing the fund.

#### Smoothing of Bonuses

Although bonuses are not guaranteed, insurers generally try to avoid large fluctuations in the bonus declared from year to year. We aim to achieve this stability by smoothing bonuses over time. This means that bonuses may be held back in years when the performance of the fund has been good so that bonuses can be less affected when conditions are or seems likely to get less favourable. The net effect is that bonuses and interest rates will not necessarily follow the short-term rises and falls in the investment markets.

The greater the exposure to higher risk investments, the greater the expected volatility in net investment return.

Smoothing will never reduce any guaranteed benefits that may apply. The cost of smoothing is intended to be neutral over the longer term, although market conditions can lead to a profit or loss on smoothing in the short term.

In general, long-term trend and movement are likely to be incorporated into the changes in reversionary (annual) bonus rates, while variations due to sudden or abrupt market movement and volatility are likely to be reflected through the changes in terminal bonus rates. Although changes are smoothed, there is no maximum or minimum amount by which reversionary and terminal bonus rates may be altered.

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#### Past 3 Years Bonus Rates

##### Reversionary Bonus (RB)

| Declared for Year / in Year | 2024/2025 | 2023/2024 | 2022/2023 |
|---|---|---|---|
| Per 1,000 of Base Sum Assured (SGD) | 5.00 | 5.00 | 5.00 |
| Per 1,000 of Accumulated RB (SGD) | 5.00 | 5.00 | 5.00 |

Past performance is not necessarily indicative of future performance.

##### Terminal Bonus (TB) – As a % of Accumulated RB

Past experience for Terminal Bonus declaration is presently not available. Past performance is not necessarily indicative of future performance.

#### Fees and Charges under the Par sub-fund

We incur expenses in operating the business. These include the salaries of staff, the cost of maintaining the office, investment costs, any commission paid to intermediaries and other such ongoing / one-off costs. When establishing fair payouts, We will determine a reasonable share of these expenses to be attributed to the operation of each investment pool within the Par sub-fund.

Fees and charges have been included in the calculation of the premium and will not be separately charged to the Policyholders.

#### Conflict of Interests

We are not aware of any conflict of interest in relation to the Par sub-fund and its management.

#### Related Party Transactions

We have the following related-party transactions based on terms agreed between the parties concerned:

1. Management services provided to Our related companies.

These services are provided based on management agreements signed with all the respective companies. These agreements are being periodically reviewed to ensure that the fees charged are reasonable and in line with the market.

#### Annual Bonus Updates

Policyholders will be updated on the performance of their Policy via an annual statement and update, which will be made available to You following Our annual bonus declaration, by 30 June each year.

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## 5. ADDITIONAL INFORMATION

### The Contract

This Product Summary provides You with an overview of the plan. The policy contract will provide the full terms and conditions of this plan.

### Termination

The Policy ends:

(a) on the date the Life Assured dies (if there is no Secondary Life Assured);
(b) on the date We pay the Death Benefit or Accidental Death Benefit, Terminal Illness Benefit or the Maturity Benefit in full;
(c) upon the expiry of Grace Period without payment of premium due;
(d) upon the acceptance of Your application to terminate the Policy; or
(e) any other event which results in termination as set out in the Policy.

If You write to Us to terminate Your Policy, there will not be any prorated refund of premium(s) and Your Policy will terminate from the premium due date immediately following the date We accept Your written request for termination.

### Exclusions

i. If the Life Assured commits suicide (while sane or insane) within one year of the Policy Issue Date or the date of the last reinstatement of the Policy (whichever is later), the Policy will be void from the date immediately prior to the date of death.

Where a change of Life Assured or a transfer of cover to the Secondary Life Assured has been made, if the new Life Assured commits suicide (while sane or insane) within 1 year of the effective date of a change of Life Assured, the issue date of the Endorsement for a change of Life Assured, a transfer of cover to the Secondary Life Assured or the date of the last reinstatement of the Policy (whichever is latest), the Policy will be void from the date immediately prior to the date of death.

ii. Accidental Injury directly or indirectly, wholly or partly caused by or arising from or contributed to by the following is excluded:

(a) self-inflicted injuries, suicide or attempted suicide, while sane or insane;
(b) bodily infirmity, illness or disease of any kind, or any infection other than an infection occurring simultaneously with and in consequence of a cut or wound of an Accidental Injury;
(c) mental or psychiatric illness, anxiety, nervous disorders or sleep disturbance disorders;
(d) whilst under the influence of alcohol, drugs or intoxication, even if the drug prescribed by a Registered Medical Practitioner, or the taking of poison or inhalation of gas, voluntarily or involuntarily;
(e) while on duty in any navy, army, air force, military, firemen, civil defence, police or law enforcement organisation except where national service or reservist duties are carried out in Singapore or overseas (if this applies) under the Enlistment Act 1970;
(f) war, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war, rebellion, revolution, insurrection, assuming the proportions of or amounting to an uprising, military or usurped power;
(g) as a result of travel in or on any type of aircraft other than as a crew member or fare paying passenger on a regularly scheduled passenger flight of an international commercial airline;
(h) as a result of the Life Assured committing, attempting or provoking an assault or felony or any violation of the law by the Life Assured;
(i) as a result of racing of any kind other than on foot;
(j) as a result of participation in any aerial activity including parachuting and sky diving; or
(k) as a result of participation in any underwater activity.

iii. Terminal Illness in the presence of HIV infection is excluded.

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

### Claims

Any benefits payable under the Policy are made to You, Your legal representative or such other authorised parties (as the case may be). We will not make any payment in respect of any claim incurred unless full premium has been received by Us.

Please contact Your Financial Adviser Representative or visit https://singlife.com/en/claims for the claim procedures.

### Free Look

You have 14 days from the date You receive this Policy to decide whether You want to continue with it. If You do not want to continue, You may write to Us to cancel this Policy. As long as You have not made any claim under this Policy, We will cancel this Policy from its Policy Effective Date and refund the premiums You paid without interest and less any expenses spent in considering Your application and issuing this Policy.

If the Policy was sent to You by post, We consider it received 7 days after posting. If the Policy was sent to You electronically, We consider it delivered on the date of transmission.

### Point-of-Sale Documents

A copy of the following documents is provided at the point-of-sale:

- Cover Page
- Policy Illustration
- Product Summary
- Bundled Product Disclosure (if applicable)
- Fact Find Form
- Your Guide to Life Insurance
- Your Guide to Health Insurance and Infographic "Evaluating My Health Insurance Coverage" (if applicable)
- Infographic "Moratorium on Genetic Testing and Insurance"
- Your Guide to Participating Policies

The guides listed above are available on Our website: www.singlife.com. The guides will help You to understand more about Life Insurance, Health Insurance and participating policies. You may also request for hardcopy versions from Us or from Your Financial Adviser Representative.

---

[p.10]

### Note

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

You may wish to seek advice from a Financial Adviser Representative before making a commitment to purchase the plan. In the event that You choose not to seek advice from a Financial Adviser Representative, You should consider whether the plan in question is suitable for You.

As buying a life insurance Policy is a long-term commitment, an early termination of the Policy usually involves high costs and the surrender value, if any, that is payable to You may be zero or less than the Total Premiums Paid.

### 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 Us or visit the LIA or SDIC web-sites (www.lia.org.sg or www.sdic.org.sg).

### Details of the Insurer

This plan is underwritten by Singapore Life Ltd. Website: www.singlife.com.

---

[p.11]

## Appendix A – Terminal Bonus at the illustrated investment rate of return of 4.25% p.a. (as a % of accumulated Reversionary Bonus)

### Premium Payment Term: SP
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 6% to 309% | 6% to 325% |
| 11 to 20 | 39% to 339% | 41% to 355% |
| 21 to 25 | 190% to 307% | 199% to 322% |

### Premium Payment Term: 3-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 5% to 316% | 6% to 331% |
| 11 to 20 | 36% to 353% | 37% to 370% |
| 21 to 25 | 173% to 282% | 181% to 296% |

### Premium Payment Term: SP
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 37% | 0% to 39% |
| 11 to 20 | 2% to 189% | 2% to 199% |
| 21 to 30 | 11% to 510% | 11% to 536% |
| 31 to 40 | 25% to 516% | 27% to 542% |
| 41 to 50 | 47% to 478% | 49% to 501% |
| 51 to 60 | 76% to 459% | 79% to 482% |
| 61 to 70 | 114% to 474% | 120% to 497% |
| 71 to 80 | 163% to 474% | 171% to 497% |
| 81 to 90 | 226% to 437% | 238% to 459% |
| 91 to 98 | 307% to 414% | 322% to 435% |

### Premium Payment Term: 3-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 34% | 0% to 36% |
| 11 to 20 | 2% to 174% | 2% to 183% |
| 21 to 30 | 11% to 474% | 11% to 497% |
| 31 to 40 | 25% to 487% | 26% to 511% |
| 41 to 50 | 46% to 471% | 48% to 495% |
| 51 to 60 | 74% to 472% | 78% to 495% |
| 61 to 70 | 111% to 454% | 117% to 477% |
| 71 to 80 | 160% to 456% | 168% to 479% |
| 81 to 90 | 221% to 421% | 233% to 442% |
| 91 to 98 | 300% to 400% | 315% to 420% |

### Premium Payment Term: 5-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 6% to 226% | 6% to 237% |
| 11 to 20 | 41% to 336% | 43% to 352% |
| 21 to 25 | 200% to 323% | 210% to 340% |

### Premium Payment Term: 10-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 4% to 57% | 4% to 60% |
| 11 to 20 | 28% to 174% | 30% to182% |
| 21 to 25 | 139% to 224% | 146% to 236% |

### Premium Payment Term: 5-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 33% | 0% to 34% |
| 11 to 20 | 3% to 168% | 3% to 176% |
| 21 to 30 | 12% to 446% | 12% to 469% |
| 31 to 40 | 28% to 438% | 29% to 461% |
| 41 to 50 | 51% to 440% | 53% to 462% |
| 51 to 60 | 82% to 467% | 86% to 491% |
| 61 to 70 | 124% to 456% | 130% to 479% |
| 71 to 80 | 177% to 461% | 186% to 484% |
| 81 to 90 | 245% to 430% | 258% to 451% |
| 91 to 98 | 333% to 424% | 349% to 445% |

### Premium Payment Term: 10-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 22% | 0% to 23% |
| 11 to 20 | 3% to 114% | 3% to 120% |
| 21 to 30 | 11% to 309% | 12% to 325% |
| 31 to 40 | 27% to 357% | 28% to 375% |
| 41 to 50 | 49% to 381% | 52% to 400% |
| 51 to 60 | 80% to 396% | 84% to 416% |
| 61 to 70 | 120% to 423% | 126% to 445% |
| 71 to 80 | 172% to 433% | 180% to 454% |
| 81 to 90 | 238% to 412% | 250% to 432% |
| 91 to 98 | 323% to 407% | 339% to 427% |

---

[p.12]

### Premium Payment Term: 12-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 46% | 4% to 49% |
| 11 to 20 | 25% to 177% | 27% to 186% |
| 21 to 25 | 125% to 202% | 131% to 212% |

### Premium Payment Term: 15-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 36% | 3% to 38% |
| 11 to 20 | 23% to 190% | 25% to 200% |
| 21 to 25 | 115% to 196% | 121% to 206% |

### Premium Payment Term: 12-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 20% | 0% to 21% |
| 11 to 20 | 3% to 101% | 3% to 106% |
| 21 to 30 | 12% to 283% | 13% to 297% |
| 31 to 40 | 29% to 358% | 31% to 376% |
| 41 to 50 | 54% to 376% | 56% to 395% |
| 51 to 60 | 87% to 405% | 91% to 426% |
| 61 to 70 | 131% to 419% | 138% to 440% |
| 71 to 80 | 188% to 429% | 197% to 450% |
| 81 to 90 | 260% to 441% | 273% to 463% |
| 91 to 98 | 353% to 437% | 370% to 464% |

### Premium Payment Term: 15-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 15% | 0% to 16% |
| 11 to 20 | 3% to 78% | 3% to 82% |
| 21 to 30 | 12% to 224% | 13% to 235% |
| 31 to 40 | 28% to 315% | 29% to 331% |
| 41 to 50 | 52% to 340% | 54% to 357% |
| 51 to 60 | 84% to 380% | 88% to 399% |
| 61 to 70 | 126% to 397% | 132% to 417% |
| 71 to 80 | 180% to 408% | 189% to 429% |
| 81 to 90 | 250% to 423% | 263% to 444% |
| 91 to 98 | 339% to 425% | 353% to 446% |

### Premium Payment Term: 18-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 27% | 4% to 28% |
| 11 to 20 | 25% to 154% | 27% to 162% |
| 21 to 25 | 124% to 209% | 130% to 221% |

### Premium Payment Term: 20-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 24% | 3% to 25% |
| 11 to 20 | 23% to 132% | 24% to 139% |
| 21 to 25 | 114% to 205% | 119% to 215% |

### Premium Payment Term: 18-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 11% | 0% to 12% |
| 11 to 20 | 3% to 59% | 3% to 62% |
| 21 to 30 | 12% to 172% | 12% to 180% |
| 31 to 40 | 27% to 275% | 28% to 289% |
| 41 to 50 | 50% to 311% | 52% to 327% |
| 51 to 60 | 81% to 357% | 85% to 375% |
| 61 to 70 | 121% to 377% | 128% to 396% |
| 71 to 80 | 174% to 389% | 183% to 408% |
| 81 to 90 | 241% to 407% | 253% to 427% |
| 91 to 98 | 327% to 409% | 344% to 430% |

### Premium Payment Term: 20-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 10% | 0% to 10% |
| 11 to 20 | 3% to 49% | 3% to 50% |
| 21 to 30 | 12% to 139% | 127% to 146% |
| 31 to 40 | 27% to 250% | 29% to 262% |
| 41 to 50 | 50% to 294% | 53% to 309% |
| 51 to 60 | 82% to 343% | 86% to 361% |
| 61 to 70 | 123% to 367% | 129% to 385% |
| 71 to 80 | 176% to 381% | 185% to 400% |
| 81 to 90 | 244% to 401% | 256% to 421% |
| 91 to 98 | 330% to 405% | 347% to 426% |

---

[p.13]

### Premium Payment Term: 12-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 46% | 4% to 49% |
| 11 to 20 | 25% to 177% | 27% to 186% |
| 21 to 25 | 125% to 202% | 131% to 212% |

### Premium Payment Term: 15-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 36% | 3% to 38% |
| 11 to 20 | 23% to 190% | 25% to 200% |
| 21 to 25 | 115% to 196% | 121% to 206% |

### Premium Payment Term: 12-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 20% | 0% to 21% |
| 11 to 20 | 3% to 101% | 3% to 106% |
| 21 to 30 | 12% to 283% | 13% to 297% |
| 31 to 40 | 29% to 358% | 31% to 376% |
| 41 to 50 | 54% to 376% | 56% to 395% |
| 51 to 60 | 87% to 405% | 91% to 426% |
| 61 to 70 | 131% to 419% | 138% to 440% |
| 71 to 80 | 188% to 429% | 197% to 450% |
| 81 to 90 | 260% to 441% | 273% to 463% |
| 91 to 98 | 353% to 437% | 370% to 464% |

### Premium Payment Term: 15-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 15% | 0% to 16% |
| 11 to 20 | 3% to 78% | 3% to 82% |
| 21 to 30 | 12% to 224% | 13% to 235% |
| 31 to 40 | 28% to 315% | 29% to 331% |
| 41 to 50 | 52% to 340% | 54% to 357% |
| 51 to 60 | 84% to 380% | 88% to 399% |
| 61 to 70 | 126% to 397% | 132% to 417% |
| 71 to 80 | 180% to 408% | 189% to 429% |
| 81 to 90 | 250% to 423% | 263% to 444% |
| 91 to 98 | 339% to 425% | 353% to 446% |

### Premium Payment Term: 18-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 27% | 4% to 28% |
| 11 to 20 | 25% to 154% | 27% to 162% |
| 21 to 25 | 124% to 209% | 130% to 221% |

### Premium Payment Term: 20-Pay
### Policy Term: 10 -25 years

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 3% to 24% | 3% to 25% |
| 11 to 20 | 23% to 132% | 24% to 139% |
| 21 to 25 | 114% to 205% | 119% to 215% |

### Premium Payment Term: 18-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 11% | 0% to 12% |
| 11 to 20 | 3% to 59% | 3% to 62% |
| 21 to 30 | 12% to 172% | 12% to 180% |
| 31 to 40 | 27% to 275% | 28% to 289% |
| 41 to 50 | 50% to 311% | 52% to 327% |
| 51 to 60 | 81% to 357% | 85% to 375% |
| 61 to 70 | 121% to 377% | 128% to 396% |
| 71 to 80 | 174% to 389% | 183% to 408% |
| 81 to 90 | 241% to 407% | 253% to 427% |
| 91 to 98 | 327% to 409% | 344% to 430% |

### Premium Payment Term: 20-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 5 to 10 | 0% to 10% | 0% to 10% |
| 11 to 20 | 3% to 49% | 3% to 50% |
| 21 to 30 | 12% to 139% | 127% to 146% |
| 31 to 40 | 27% to 250% | 29% to 262% |
| 41 to 50 | 50% to 294% | 53% to 309% |
| 51 to 60 | 82% to 343% | 86% to 361% |
| 61 to 70 | 123% to 367% | 129% to 385% |
| 71 to 80 | 176% to 381% | 185% to 400% |
| 81 to 90 | 244% to 401% | 256% to 421% |
| 91 to 98 | 330% to 405% | 347% to 426% |

---

[p.14]

### Premium Payment Term: 25-Pay
### Policy Term: Up to 99 ANB

| Policy Year | Terminal Bonus |  |
|---|---|---|
|  | Surrender | Death or Maturity |
| 6 to 10 | 0% to 7% | 0% to 7% |
| 11 to 20 | 2% to 34% | 2% to 36% |
| 21 to 30 | 10% to 90% | 11% to 95% |
| 31 to 40 | 25% to 182% | 26% to 191% |
| 41 to 50 | 45% to 240% | 47% to 252% |
| 51 to 60 | 73% to 296% | 77% to 311% |
| 61 to 70 | 110% to 323% | 116% to 339% |
| 71 to 80 | 158% to 340% | 166% to 357% |
| 81 to 90 | 219% to 360% | 230% to 378% |
| 91 to 98 | 297% to 364% | 312% to 382% |