# PRODUCT SUMMARY
## Singlife Whole Life Choice

[p.1]

### 1. DESCRIPTION OF PRODUCT

This is a whole life insurance plan with limited premium payment term that provides protection against death and Terminal Illness.

This plan comprises of a Base Cover and an Additional Cover. The Base Cover provides whole of life coverage and the Additional Cover provides additional coverage (on top of the Base Cover) during the Additional Cover Period only. The Base Cover of this plan participates in the performance of Our Participating Fund in the form of non-guaranteed bonuses while the Additional Cover of this plan is a non-participating benefit. The Base Sum Assured of this basic plan is the chosen Sum Assured for the Base Cover and the Additional Sum Assured of this basic plan is the Sum Assured for the Additional Cover.

This plan also offers a range of optional Supplementary Benefits for You to tailor this plan to meet Your protection needs.

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

### Product At-a-glance

* Choose the amount of insurance cover that best meet Your protection needs, by deciding on the following:
  * (a) Base Sum Assured; and
  * (b) Additional Cover percentage (Options of 100%, 200%, 300% or 400% of Base Sum Assured).
* Choice of Additional Cover age: 65, 70, 75, 80 or 85 Age Next Birthday (ANB).
* Starting from the Policy Anniversary when Life Assured reaches Additional Cover age, the Additional Cover reduces by 12.5% every policy year for a period of 8 years until it becomes zero.
* Select Your preferred premium payment term: 10 years, 15 years, 20 years, 25 years or up to 65 ANB.
* Choose to pay Your premiums either monthly, quarterly, half-yearly or yearly.
* Premium rates for this plan are level and guaranteed.
* Pays a lump sum if the Life Assured suffers from a Terminal Illness or dies.
* **Guaranteed Extra Protection Option:** Option to increase the protection coverage without evidence of insurability upon certain life stage events.
* **Income Payout Option:** Option to receive a stream of monthly income, and You will have the flexibility to determine the proportion of the Guaranteed Cash Value to be utilised and the payout term.
* **Retrenchment Benefit:** Waives premium if involuntarily unemployed.
* Benefit from the accumulation of guaranteed cash value and the non-guaranteed Reversionary Bonus and Terminal Bonus on the Base Cover.
* **Life Stage Withdrawal Benefit:** Flexibility to withdraw accumulated reversionary bonuses without surrender charge upon certain life stage events.
* Add on Supplementary Benefits to enhance Your insurance cover for the extra peace of mind.

---

### 2. PLAN FEATURES AND BENEFITS

[p.2]

#### 2.1 INSURANCE COVERAGE AVAILABLE

##### A. DEATH BENEFIT

We will pay the following upon death of the Life Assured provided that the Income Payout Option is not opted for:

| | |
|---|---|
| **(1) Prior to the Policy Anniversary when the Additional Cover is reduced to zero, We will pay the sum of:** | **(2) On or after the Policy Anniversary when the Additional Cover is reduced to zero, We will pay the sum of:** |
| (i) the Base Sum Assured; | (i) the Base Sum Assured; |
| (ii) the Additional Sum Assured; | (ii) any accumulated Reversionary Bonus; and |
| (iii) any accumulated Reversionary Bonus; and | (iii) any Terminal Bonus; |
| (iv) any Terminal Bonus; | |
| less any amounts owing to Us in one lump sum. | less any amounts owing to Us in one lump sum. |

##### Additional Cover and Additional Cover Period

(a) The Additional Cover is the additional protection coverage that is applicable during the Additional Cover Period for the Basic Benefits (i.e. Death Benefit and Terminal Illness Benefit) and selected Supplementary Benefits. The Additional Sum Assured is calculated as Additional Cover percentage of 100%, 200%, 300% or 400% multiplied by the Base Sum Assured of the basic plan or of the applicable Supplementary Benefits.

(b) Starting from the Policy Anniversary when the Life Assured reaches the Additional Cover Age, the Additional Cover reduces by 12.5% every policy year for a period of 8 years until it becomes zero. Please refer to the Additional Cover percentage table below for illustration.

| T = Additional Cover Age Next Birthday on Policy Anniversary | Additional Cover % chosen | | | |
|---|---|---|---|---|
| | 100% | 200% | 300% | 400% |
| | | Reduced Additional Cover % | | |
| T | 87.5% | 175.0% | 262.5% | 350.0% |
| T+1 | 75.0% | 150.0% | 225.0% | 300.0% |
| T+2 | 62.5% | 125.0% | 187.5% | 250.0% |
| T+3 | 50.0% | 100.0% | 150.0% | 200.0% |
| T+4 | 37.5% | 75.0% | 112.5% | 150.0% |
| T+5 | 25.0% | 50.0% | 75.0% | 100.0% |
| T+6 | 12.5% | 25.0% | 37.5% | 50.0% |
| T+7 | 0% | 0% | 0% | 0% |

(c) The Additional Sum Assured will reduce accordingly when the Additional Cover reduces.

(d) The Additional Cover percentage is applicable for Basic Benefits (i.e. Death Benefit and Terminal Illness Benefit), and the selected optional Supplementary Benefits (Total and Permanent Disability Advance Cover V, Critical Illness Advance Cover (2025) and Early Critical Illness Advance Cover (2025) only) if attached to the Policy.

(e) The Additional Cover percentage and the Additional Cover age can only be chosen at point of application and it cannot be changed after the Policy is incepted.

(f) The Additional Cover will cease and no longer apply if the Policy is converted to:
   * (i) Reduced Paid Up (RPU) Insurance; or
   * (ii) Extended Term Insurance (ETI);
   
   whichever is earlier.

After the cessation of the Additional Cover due to abovementioned reasons, the Policy coverage continues based on the:
   * (i) RPU sum assured as determined by Us (if the Policy is converted to RPU Insurance); or
   * (ii) prevailing Base Sum Assured for a period of cover as determined by Us (if the Policy is converted to an ETI).

##### B. TERMINAL ILLNESS BENEFIT

[p.3]

We will pay the Terminal Illness Benefit in one lump sum, as an advance of the Death Benefit upon diagnosis of Terminal Illness of the Life Assured within the Policy term.

###### Definition of Terminal Illness

"Terminal Illness" means the conclusive diagnosis of an illness that is expected to result in the death of the Life Assured within 12 months. This diagnosis must be supported by a specialist and confirmed by Our appointed Registered Medical Practitioner. Terminal Illness in the presence of Human Immunodeficiency Virus (HIV) infection is excluded.

##### C. SUPPLEMENTARY BENEFITS

Subject to Our terms and conditions and provided the Supplementary Benefits are available at the point of Your application, You may request to add on additional Supplementary Benefits to Your Policy while the Policy is in force. 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.

The following Supplementary Benefits can only be added at Policy application and are not available after Policy inception:

(1) Total and Permanent Disability Advance Cover V
(2) Critical Illness Advance Cover (2025); and
(3) Early Critical Illness Advance Cover (2025).

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

You will enjoy both Reversionary Bonus and Terminal Bonus as We distribute a share of Our Participating Fund profit to You in the form of such bonuses. The Reversionary Bonus is non-guaranteed, but once declared and vested, it forms part of the guaranteed benefit of the Policy. The Terminal Bonus is non-guaranteed and it may be credited upon an insurance claim or surrender of the Policy. These bonuses will only be applicable on the Base Cover and not on the Additional Cover. For more details, please refer to the section on "Non-guaranteed Bonuses Payable".

Where applicable, You may choose to withdraw fully or partially 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.

#### 2.3 SURRENDER BENEFIT

Your Policy will acquire a cash value from the start of the third Policy year onwards as long as the premiums are paid up-to-date. Please refer to the Policy Illustration for the illustrated cash surrender value You may get if You surrender the Policy early.

If the Income Payout Option is opted for, the cash surrender value will be adjusted for the monthly income paid out. Please refer to the Policy Illustration for details.

#### 2.4 LIFE STAGE WITHDRAWAL BENEFIT

##### FOR LIFE STAGE EVENTS

At a life stage event, You can apply to withdraw the accumulated reversionary bonus without surrender charge, provided the following conditions are met:

(a) the application must be submitted within 90 calendar days from the occurrence of the life stage event;

(b) the life stage event must occur before the policy anniversary when the Life Assured attains 65 ANB;

(c) there is no waiting period before this option is available;

(d) this option can be exercised up to maximum of 2 times, regardless of the number of policies You have with us which offers similar options; and

(e) this option will not be available if You have converted this policy to reduced paid up or extended term insurance.

The life stage events are:

(1) the Life Assured changes the marital status (for e.g., marries, divorces or is widowed);

(2) the Life Assured becomes a parent by having a newborn or legally adopts a child;

(3) the Life Assured purchases a property; or

(4) the Life Assured or the Life Assured's child enrols into tertiary education.

#### 2.5 GUARANTEED EXTRA PROTECTION OPTION

##### FOR LIFE STAGE EVENTS

[p.4]

In the event of any of the following life stage events, You have the option to purchase a new non-participating level term Supplementary Benefit, without evidence of insurability. The life stage events are:

(1) the Life Assured changes the marital status (for e.g., marries, divorces or is widowed);

(2) the Life Assured becomes a parent by having a newborn or legally adopts a child;

(3) the Life Assured purchases a property;

(4) the Life Assured or the Life Assured's child enrols into tertiary education; or

(5) the Life Assured enters full-time employment within one year from tertiary graduation.

The non-participating level term Supplementary Benefit offers protection against death and Terminal Illness of the Life Assured. You can choose the Supplementary Benefit term from 10 years up to 99 ANB of the Life Assured, at every one year interval. Premium will be calculated based on the Life Assured's attained age next birthday when this Supplementary Benefit is added. You must pay the premium for this non-participating level term Supplementary Benefit throughout the Supplementary Benefit term to keep the Supplementary Benefit in force.

You can exercise this option up to 2 times during the lifetime of the Life Assured regardless of the number of Policies You may have which offers such similar option, subject to the following:

(a) the Policy must be fully underwritten and accepted at standard terms without any sub-standard premium loadings, exclusions or counter offers;

(b) the life stage event must occur before the Policy Anniversary immediately following the date on which the Life Assured is 50 ANB;

(c) satisfactory proof to show evidence of the occurrence of the life stage event must be submitted together with the application;

(d) the application must be submitted within 90 calendar days from the occurrence of the life stage event. No waiting period from the Policy inception will be required before You can exercise this option;

(e) the Policy has not been converted to Reduced Paid Up Insurance or Extended Term Insurance;

(f) You have not applied for a claim on the Policy;

(g) no claim has been admitted on the Policy;

(h) it must be taken up on the same Life Assured as the Policy; and

(i) the total coverage that can be taken up under this option regardless of the number of times it is exercised, is limited to:
   * (i) 100% of the original Base Sum Assured of the basic plan as agreed at Policy Effective Date; or
   * (ii) the maximum limit of SGD500,000 (or its equivalent in the other contract currencies) per life;
   
   whichever is lower, and it shall not exceed the prevailing maximum Sum Assured allowed on a per life basis for death and Terminal Illness coverage, including all other policies with Singapore Life Ltd. and other insurance companies in respect of the same Life Assured.

If You have more than one policy in respect of the same Life Assured which offers such similar option, the maximum Sum Assured that You can exercise under such option is SGD500,000 (or its equivalent in the other contract currencies) per life.

We reserve the right to void the level term Supplementary Benefits added to the Policy if You submit a claim and the date of death, diagnosis or disability (where applicable) of the claim occurred prior to Your application to exercise the Guaranteed Extra Protection Option.

#### 2.6 INCOME PAYOUT OPTION

##### FOR RETIREMENT PLANNING

You may exercise this option to receive monthly income from the Policy to supplement retirement needs. The monthly income is determined based on the following:

(a) The guaranteed cash surrender value available to You at the date when this option is exercised (also referred to as the "Exercise Age") less any amounts owing to Us;

(b) The proportion (in percentage) of the guaranteed cash value available to You that You would like to utilise for this option
   * You may choose to utilise up to 80% of the guaranteed cash value available to You for this option;

(c) The payout term, which is the period of time that You start to receive the monthly income (by exercising this option), and when You choose to stop receiving it (referred to as the "Payout End Age"); and

(d) The minimum monthly income allowed is SGD50.

You may request to exercise this option, at each Monthly Anniversary Date, starting from the Policy Anniversary when the Life Assured is 65 ANB or the Premium Cessation Date of the Basic Benefits, whichever is later. The monthly income will start one month after the Exercise Age. You can choose when to stop receiving the monthly income, subject to the following:

| Exercise Age (ANB) | Minimum Payout End Age (ANB) | Minimum Payout Term (Years) | Maximum Payout End Age (ANB) | Maximum Payout Term (Years) |
|---|---|---|---|---|
| 65 | 85 | 20 | | 34 |
| 66 | 85 | 19 | | 33 |
| 67 | 85 | 18 | | 32 |
| 68 | 85 | 17 | | 31 |
| 69 | 85 | 16 | | 30 |
| 70 | 85 | 15 | | 29 |
| 71 | 85 | 14 | | 28 |
| 72 | 85 | 13 | | 27 |
| 73 | 85 | 12 | | 26 |
| 74 | 85 | 11 | | 25 |
| 75 | 85 | 10 | | 24 |
| 76 | 86 | 10 | 99 | 23 |
| 77 | 87 | 10 | | 22 |
| 78 | 88 | 10 | | 21 |
| 79 | 89 | 10 | | 20 |
| 80 | 90 | 10 | | 19 |
| 81 | 91 | 10 | | 18 |
| 82 | 92 | 10 | | 17 |
| 83 | 93 | 10 | | 16 |
| 84 | 94 | 10 | | 15 |
| 85 | 95 | 10 | | 14 |
| 86 | 96 | 10 | | 13 |
| 87 | 97 | 10 | | 12 |
| 88 | 98 | 10 | | 11 |
| 89 | 99 | 10 | | 10 |

The Monthly Anniversary Date means the date in each succeeding month corresponding to the Policy Effective Date, or if such date does not exist, then the last day of that month.

The prevailing minimum monthly income and maximum proportion of the guaranteed cash value that can be utilised for this option are subject to changes according to Our prevailing terms and conditions.

[p.5]

After this option has been exercised, the Policy will continue to provide cover on the Life Assured (which will be adjusted for the monthly income paid out), and cash surrender value (via the surrender benefit). You will also continue to enjoy the Reversionary Bonus (declared on the Base Sum Assured) and the Terminal Bonus.

We will pay the following upon death of the Life Assured:

| | |
|---|---|
| **(1) Prior to the Policy Anniversary when the Additional Cover is reduced to zero, We will pay the higher of:** | **(2) On or after the Policy Anniversary when the Additional Cover is reduced to zero, We will pay the sum of:** |
| (a) the sum of: | (i) 105% of (guaranteed cash value at the date when the option was exercised, less any monthly income paid to date); |
| (i) the Base Sum Assured, less any monthly income paid to date; | (ii) any accumulated Reversionary Bonus; and |
| (ii) the Additional Sum Assured; | (iii) any Terminal Bonus; |
| (iii) any accumulated Reversionary Bonus; and | |
| (iv) any Terminal Bonus; or | less any amounts owing to Us in one lump sum. |
| (b) the sum of: | |
| (i) 105% of (guaranteed cash value at the date when the option was exercised, less any monthly income paid to date); | |
| (ii) the Additional Sum Assured; | |
| (iii) any accumulated Reversionary Bonus; and | |
| (iv) any Terminal Bonus; | |
| less any amounts owing to Us in one lump sum. | |

For details about the surrender benefit after the Income Payout Option has been exercised, please refer to Section 2.3 regarding "Surrender Benefit".

This option can only be exercised once. Once this option is exercised, You would not be able to cancel the Income Payout Option and revert to the original Policy, and You would not be able to make changes to the following:

* the proportion (in percentage) of the guaranteed cash value available to You that You had utilised for this option;
* the Exercise Age; or
* the Payout End Age.

#### 2.7 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.

#### 2.8 PREMIUM TERM OPTION, FREQUENCY AND METHODS

[p.6]

You can choose to pay Your basic premiums 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 for this plan are guaranteed throughout the premium payment term.

#### 2.9 ENTRY AGE AND OWNERSHIP BASIS

##### Entry Age of the Life Assured:

| Premium Payment Term | Minimum Age (ANB) | Maximum Age (ANB) |
|---|---|---|
| 10 years | 1 | 65 |
| 15 years | 1 | 60 |
| 20 years | 1 | 55 |
| 25 years | 1 | 50 |
| Up to 65 ANB | 1 | 55 |

**Entry Age of the Assured (also known as the Policyholder):** At least 17 ANB.

**Ownership basis:** Single Life or Third Party (based on Husband-and-Wife basis for Life Assured 17 ANB and above, and Juvenile Life basis for Life Assured 18 ANB and below).

#### 2.10 POLICY LOAN

If You have not exercised the Income Payout Option, You may opt for a Policy Loan of up to 90% 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. SINGAPORE LIFE LTD.'S PARTICIPATING FUND

#### 3.1 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 Base 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 surrender of the Policy, death of the Life Assured or upon an advance of the Death Benefit.

The TB rate on death or surrender of the Policy# (as a % of accumulated Reversionary Bonus) 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.**

[p.7]

#### 3.2 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.

[p.8]

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 **) × 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.

##### 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

[p.9]

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 favorable. 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.

##### 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.

[p.10]

### 4. ADDITIONAL INFORMATION

#### 4.1 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.

#### 4.2 General Exclusions

(i) No benefit shall be payable under the Policy if death is caused by 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. We will refund (without interest) the total amount of premiums paid for the Policy from the Policy Issue Date or the date of the last reinstatement of the Policy (whichever is later) to the date of death, less any amounts owing to Us.

(ii) We do not pay the Terminal Illness Benefit for Terminal Illness in the presence of Human Immunodeficiency Virus (HIV) infection.

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

#### 4.3 Termination

The Policy ends:

(a) on the date the Life Assured dies;

(b) on the date We pay the Death Benefit or an advance of the Death Benefit in full;

(c) upon the expiry of the 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,

whichever is the earliest.

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

#### 4.4 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.

#### 4.5 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.

#### 4.6 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.11]

#### 4.7 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. If 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.

#### 4.8 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 websites (www.lia.org.sg or www.sdic.org.sg).

#### 4.9 Details of the Insurer

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

---

## Appendix A – Terminal Bonus

[p.13]

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Death Benefit)

#### Premium Payment Term: 10 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 9% | 45% to 122% | 123% to 170% | 169% to 215% | 212% to 251% | 246% to 284% | 278% to 394% |
| 11 to 20 | 0% to 9% | 43% to 117% | 118% to 164% | 162% to 208% | 204% to 243% | 239% to 274% | 270% to 356% |
| 21 to 30 | 0% to 8% | 41% to 112% | 112% to 158% | 156% to 200% | 197% to 234% | 230% to 265% | 260% to 318% |
| 31 to 40 | 0% to 8% | 24% to 118% | 86% to 161% | 130% to 200% | 175% to 231% | 215% to 259% | 247% to 280% |
| 41 to 50 | 0% to 7% | 13% to 78% | 64% to 123% | 111% to 169% | 165% to 213% | 209% to 243% | 209% to 243% |
| 51 to 60 | 0% to 7% | 9% to 58% | 55% to 106% | 109% to 175% | 166% to 205% | 171% to 205% | 171% to 205% |
| 61 to 65 | 0% to 7% | 8% to 50% | 54% to 115% | 113% to 168% | 152% to 168% | 152% to 168% | 152% to 168% |

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Surrender Benefit)

#### Premium Payment Term: 10 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 4% | 40% to 117% | 118% to 165% | 164% to 210% | 207% to 246% | 241% to 279% | 273% to 389% |
| 11 to 20 | 0% to 4% | 38% to 112% | 113% to 159% | 157% to 203% | 199% to 238% | 234% to 269% | 265% to 351% |
| 21 to 30 | 0% to 3% | 36% to 107% | 107% to 153% | 151% to 195% | 192% to 229% | 225% to 260% | 255% to 313% |
| 31 to 40 | 0% to 3% | 19% to 113% | 81% to 156% | 125% to 195% | 170% to 226% | 210% to 254% | 242% to 275% |
| 41 to 50 | 0% to 2% | 8% to 73% | 59% to 118% | 106% to 164% | 160% to 208% | 204% to 238% | 204% to 238% |
| 51 to 60 | 0% to 2% | 4% to 53% | 50% to 101% | 104% to 170% | 161% to 200% | 166% to 200% | 166% to 200% |
| 61 to 65 | 0% to 2% | 3% to 45% | 49% to 110% | 108% to 163% | 147% to 163% | 147% to 163% | 147% to 163% |

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Death Benefit)

#### Premium Payment Term: 15 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 9% | 34% to 127% | 127% to 177% | 174% to 224% | 218% to 261% | 254% to 295% | 286% to 410% |
| 11 to 20 | 0% to 8% | 32% to 120% | 120% to 168% | 165% to 213% | 207% to 248% | 242% to 282% | 273% to 365% |
| 21 to 30 | 0% to 8% | 32% to 116% | 120% to 164% | 165% to 208% | 208% to 245% | 243% to 278% | 275% to 326% |
| 31 to 40 | 0% to 8% | 21% to 127% | 94% to 174% | 143% to 216% | 191% to 250% | 235% to 280% | 270% to 303% |
| 41 to 50 | 0% to 7% | 11% to 85% | 68% to 135% | 120% to 185% | 180% to 234% | 229% to 266% | 229% to 266% |
| 51 to 60 | 0% to 7% | 8% to 61% | 57% to 114% | 117% to 192% | 181% to 225% | 188% to 225% | 188% to 225% |

[p.14]

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Surrender Benefit)

#### Premium Payment Term: 15 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 4% | 29% to 122% | 122% to 172% | 169% to 219% | 213% to 256% | 249% to 290% | 281% to 405% |
| 11 to 20 | 0% to 3% | 27% to 115% | 115% to 163% | 160% to 208% | 202% to 243% | 237% to 277% | 268% to 360% |
| 21 to 30 | 0% to 3% | 27% to 111% | 115% to 159% | 160% to 203% | 203% to 240% | 238% to 273% | 270% to 321% |
| 31 to 40 | 0% to 3% | 16% to 122% | 89% to 169% | 138% to 211% | 186% to 245% | 230% to 275% | 265% to 298% |
| 41 to 50 | 0% to 2% | 6% to 80% | 63% to 130% | 115% to 180% | 175% to 229% | 224% to 261% | 224% to 261% |
| 51 to 60 | 0% to 2% | 3% to 56% | 52% to 109% | 112% to 187% | 176% to 220% | 183% to 220% | 183% to 220% |

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Death Benefit)

#### Premium Payment Term: 20 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 8% | 35% to 94% | 132% to 183% | 182% to 231% | 228% to 271% | 264% to 307% | 299% to 411% |
| 11 to 20 | 0% to 8% | 36% to 97% | 137% to 191% | 188% to 243% | 236% to 284% | 276% to 323% | 311% to 400% |
| 21 to 30 | 0% to 8% | 37% to 102% | 142% to 202% | 197% to 258% | 248% to 303% | 290% to 345% | 329% to 390% |
| 31 to 40 | 0% to 8% | 23% to 113% | 118% to 216% | 181% to 270% | 245% to 312% | 301% to 351% | 346% to 380% |
| 41 to 50 | 0% to 7% | 14% to 78% | 93% to 172% | 163% to 237% | 238% to 312% | 301% to 342% | 308% to 342% |
| 51 to 55 | 0% to 7% | 11% to 61% | 87% to 156% | 163% to 250% | 246% to 305% | 289% to 305% | 289% to 305% |

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Surrender Benefit)

#### Premium Payment Term: 20 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 3% | 30% to 89% | 127% to 178% | 177% to 226% | 223% to 266% | 259% to 302% | 294% to 406% |
| 11 to 20 | 0% to 3% | 31% to 92% | 132% to 186% | 183% to 238% | 231% to 279% | 271% to 318% | 306% to 395% |
| 21 to 30 | 0% to 3% | 32% to 97% | 137% to 197% | 192% to 253% | 243% to 298% | 285% to 340% | 324% to 385% |
| 31 to 40 | 0% to 3% | 18% to 108% | 113% to 211% | 176% to 265% | 240% to 307% | 296% to 346% | 341% to 375% |
| 41 to 50 | 0% to 2% | 9% to 73% | 88% to 167% | 158% to 232% | 233% to 307% | 296% to 337% | 303% to 337% |
| 51 to 55 | 0% to 2% | 6% to 56% | 82% to 151% | 158% to 245% | 241% to 300% | 284% to 300% | 284% to 300% |

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Death Benefit)

#### Premium Payment Term: 25 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 8% | 43% to 106% | 109% to 202% | 204% to 251% | 252% to 289% | 289% to 323% | 322% to 430% |
| 11 to 20 | 0% to 8% | 43% to 107% | 111% to 206% | 207% to 257% | 255% to 296% | 293% to 332% | 328% to 409% |
| 21 to 30 | 0% to 8% | 44% to 110% | 112% to 213% | 212% to 266% | 262% to 307% | 301% to 345% | 336% to 392% |
| 31 to 40 | 0% to 8% | 23% to 110% | 84% to 214% | 178% to 267% | 241% to 308% | 297% to 346% | 341% to 375% |
| 41 to 50 | 0% to 7% | 14% to 76% | 66% to 170% | 161% to 233% | 235% to 307% | 297% to 337% | 304% to 337% |

[p.15]

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Surrender Benefit)

#### Premium Payment Term: 25 years

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 3% | 38% to 101% | 104% to 197% | 199% to 246% | 247% to 284% | 284% to 318% | 317% to 425% |
| 11 to 20 | 0% to 3% | 38% to 102% | 106% to 201% | 202% to 252% | 250% to 291% | 288% to 327% | 323% to 404% |
| 21 to 30 | 0% to 3% | 39% to 105% | 107% to 208% | 207% to 261% | 257% to 302% | 296% to 340% | 331% to 387% |
| 31 to 40 | 0% to 3% | 18% to 105% | 79% to 209% | 173% to 262% | 236% to 303% | 292% to 341% | 336% to 370% |
| 41 to 50 | 0% to 2% | 9% to 71% | 61% to 165% | 156% to 228% | 230% to 302% | 292% to 332% | 299% to 332% |

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Death Benefit)

#### Premium Payment Term: Pay up to 65ANB

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 5% | 28% to 73% | 71% to 102% | 99% to 129% | 129% to 160% | 157% to 235% | 192% to 324% |
| 11 to 20 | 0% to 4% | 24% to 68% | 61% to 96% | 91% to 125% | 120% to 190% | 155% to 229% | 201% to 289% |
| 21 to 30 | 0% to 4% | 23% to 63% | 60% to 88% | 89% to 168% | 120% to 193% | 177% to 217% | 198% to 237% |
| 31 to 40 | 0% to 7% | 22% to 79% | 66% to 173% | 90% to 235% | 172% to 292% | 197% to 341% | 221% to 341% |
| 41 to 50 | 0% to 7% | 11% to 90% | 68% to 171% | 120% to 235% | 180% to 300% | 229% to 338% | 229% to 338% |
| 51 to 55 | 0% to 7% | 11% to 61% | 58% to 113% | 109% to 172% | 171% to 221% | 190% to 221% | 190% to 221% |

### Terminal Bonus table at the illustrated investment rate of return of 4.25% p.a. (Base Cover – Surrender Benefit)

#### Premium Payment Term: Pay up to 65ANB

| Entry Age (ANB) | Policy Year | | | | | | |
|---|---|---|---|---|---|---|---|
| | 1 to 10 | 11 to 20 | 21 to 30 | 31 to 40 | 41 to 50 | 51 to 60 | > 60 |
| 1 to 10 | 0% to 0% | 23% to 68% | 66% to 97% | 94% to 124% | 124% to 155% | 152% to 230% | 187% to 319% |
| 11 to 20 | 0% to 0% | 19% to 63% | 56% to 91% | 86% to 120% | 115% to 185% | 150% to 224% | 196% to 284% |
| 21 to 30 | 0% to 0% | 18% to 58% | 55% to 83% | 84% to 163% | 115% to 188% | 172% to 212% | 193% to 232% |
| 31 to 40 | 0% to 2% | 17% to 74% | 61% to 168% | 85% to 230% | 167% to 287% | 192% to 336% | 216% to 336% |
| 41 to 50 | 0% to 2% | 6% to 85% | 63% to 166% | 115% to 230% | 175% to 295% | 224% to 333% | 224% to 333% |
| 51 to 55 | 0% to 2% | 6% to 56% | 53% to 108% | 104% to 167% | 166% to 216% | 185% to 216% | 185% to 216% |

[p.16]

---

# TOTAL AND PERMANENT DISABILITY ADVANCE COVER V

[p.17]

## FEATURES

This is a Supplementary Benefit that offers protection against disability which is total and permanent during the period of the benefit term.

This Supplementary Benefit comprises of a Base Cover which is a participating benefit and an Additional Cover which is a non-participating benefit. The Base Cover provides whole of life coverage and the Additional Cover provides additional coverage (on top of the Base Cover) during the Additional Cover Period only. The Base Sum Assured of this Supplementary Benefit is the chosen Sum Assured of the Base Cover and the Additional Sum Assured of this Supplementary Benefit is the Sum Assured of the Additional Cover.

This Supplementary Benefit advances the Death Benefit of the Policy to which it is attached and does not have any cash value.

The premium rates for this Supplementary Benefit are level and guaranteed. This Supplementary Benefit can only be attached at policy application, and its premium payment term option follows the basic plan.

## BENEFITS

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

If the Life Assured becomes totally and permanently disabled as defined in this Supplementary Benefit, provided that the Income Payout Option is not opted for, the TPD Benefit payable (as an advance of the Death Benefit) is as follows:

| | |
|---|---|
| **(1) Prior to the policy anniversary when the Additional Cover is reduced to zero while the policy is in force, We will pay the sum of:** | **(2) On or after the policy anniversary when the Additional Cover is reduced to zero while the policy is in force, We will pay the sum of:** |
| (i) the Base Sum Assured of this Supplementary Benefit; | (i) the Base Sum Assured of this Supplementary Benefit; |
| (ii) the Additional Sum Assured of this Supplementary Benefit; | (ii) any accumulated Reversionary Bonus; and |
| (iii) any accumulated Reversionary Bonus; and | (iii) any Terminal Bonus; |
| (iv) any Terminal Bonus; | |
| less any amounts owing to Us in one lump sum. | less any amounts owing to Us in one lump sum. |

After the Income Payout Option has been exercised, the TPD Benefit payable (as an advance of the Death Benefit) is as follows:

| | |
|---|---|
| **(1) Prior to the policy anniversary when the Additional Cover is reduced to zero while the policy is in force, We will pay the higher of:** | **(2) On or after the policy anniversary when the Additional Cover is reduced to zero while the policy is in force, We will pay the sum of:** |
| (a) the sum of: | (i) 105% of (guaranteed cash value at the date when the option was exercised, less any monthly income paid to date); |
| (i) the Base Sum Assured of this Supplementary Benefit, less any monthly income paid to date; | (ii) any accumulated Reversionary Bonus; and |
| (ii) the Additional Sum Assured of this Supplementary Benefit; | (iii) any Terminal Bonus; |
| (iii) any accumulated Reversionary Bonus; and | |
| (iv) any Terminal Bonus; or | less any amounts owing to Us in one lump sum. |
| (b) the sum of: | |
| (i) 105% of (guaranteed cash value at the date when the option was exercised, less any monthly income paid to date); | |
| (ii) the Additional Sum Assured of this Supplementary Benefit; | |
| (iii) any accumulated Reversionary Bonus; and | |
| (iv) any Terminal Bonus; | |
| less any amounts owing to Us in one lump sum. | |

[p.18]

Starting from the Policy Anniversary when the Life Assured reaches the Additional Cover Age, the Additional Cover reduces by 12.5% every policy year for a period of 8 years until it becomes zero. Please refer to the Additional Cover percentage table below for illustration.

| T = Additional Cover Age Next Birthday on Policy Anniversary | Additional Cover % chosen | | | |
|---|---|---|---|---|
| | 100% | 200% | 300% | 400% |
| | | Reduced Additional Cover % | | |
| T | 87.5% | 175.0% | 262.5% | 350.0% |
| T+1 | 75.0% | 150.0% | 225.0% | 300.0% |
| T+2 | 62.5% | 125.0% | 187.5% | 250.0% |
| T+3 | 50.0% | 100.0% | 150.0% | 200.0% |
| T+4 | 37.5% | 75.0% | 112.5% | 150.0% |
| T+5 | 25.0% | 50.0% | 75.0% | 100.0% |
| T+6 | 12.5% | 25.0% | 37.5% | 50.0% |
| T+7 | 0% | 0% | 0% | 0% |

The Additional Sum Assured will reduce accordingly when the Additional Cover reduces.

Payment of the TPD Benefit reduces the Death Benefit.

* If the TPD Benefit is paid in full such that the Base Sum Assured and Additional Sum Assured (if applicable) of this Supplementary