SMILE Smart Loan Protection
DESCRIPTION OF PLAN
Nature of Contract and Product Benefits
a) Duration of Contract
Minimum term: 1 Year
Maximum term: 10 Years
(Subject to a maximum expiry age of 70 years old)
b) Description of Benefits available under the plan
(i) Death Benefit
Upon the death of the Life Insured during the coverage period due to Sickness or Accidental cause, Sum Assured will be payable.
(ii) Total and Permanent Disability (TPD)
In the event of TPD of Insured due to Sickness or Accidental cause, Sum Assured will be payable in one lump sum.
The policy shall be automatically terminated when the Company pays the Death or TPD benefit to the Beneficiary or Insured Member.
(iii) Surrender Benefit
Upon surrender of the policy, the surrender value will be payable.
Minimum/Maximum Age at Entry
Age Limit for Life Insured (waiting for approval from the Ministry of Economy and Finance)
Minimum: 18 years old
Maximum: 65 years old
Subject to a maximum expiry age of 70 years old
Age Definition: Current year minus Year of Birth
Minimum/Maximum Sum Assured
Minimum Sum Assured: 300 USD
Maximum Sum Assured: No limit
