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Low Cost Term Insurance (i-Term) Document Date: 19-Sep-2007

1. What is i-Term?
2. How does it compare with other life insurance products?
3. How does it compare with similar products from other insurers?
4. How much life insurance do I need?
5. What is the minimum and maximum entry age?
6. What is the period of cover that i can insure for?
7. How much is the premium?
8. How do I apply for i-Term?
9. Is the premium rate guaranteed?
10. Do I get any money back?
11. What other important matters should I know?

1. What is i-Term?

   i-Term is a term insurance cover. It covers Death, Permanent & Total Disability and Terminal Illness. It allows the breadwinner to buy a large insurance cover to provide financial security to the dependants.

   The full sum assured is payable on death from all causes, ie accidents or illness. Only suicide is excluded during the first year.

   In the event of permanent and total disability (as defined in the insurance policy), the full sum assured is payable in instalment as follows: 10% a year for the first 4 years and the remaining 60% on the 5th year.
   

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2. How does it compare with other life insurance products?

   i-Term is a pure protection insurance with low premium.

   It provides a large insurance cover at less than 10% of the comparable premium for a whole life plan, for most ages and term.

   Life Insurance for $100,000

   	Male ...		Female ...
   Age	i-Term 20 yrs	Whole Life	i-Term 20 yrs	Whole Life
   20	$10	$122	$7	$112
   30	$13	$166	$10	$151
   40	$28	$238	$20	$212

   
   Note: This is prepared for illustration only
   

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3. How does it compare with similar products from other insurers?

   A Business Times article on 30 August 2006 compared term insurance offered by various companies in Singapore.

   i-Term came out top in the comparison. On average, our premium is 30% to 40% cheaper than the premiums charged by other insurance companies.
   

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4. How much life insurance do I need?

   As a rule of thumb, the life insurance cover should be 3 to 5 times of your annual salary. If your annual earning is $40,000, you should have $120,000 to $200,000. Some people aim to be covered for 10 years of earnings.
   

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5. What is the minimum and maximum entry age?

   There is no minimum entry age for i-term plan. We can insured new born babies even when they are 1 day old. The maximum entry age for i-term plan is 74 years old (Age last birthday).
   

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6. What is the period of cover that i can insure for?

   i-Term plan can be taken on the following basis:

   1. any term between 5 and 35 years, or
   2. up to age 54 last birthday (lb), 59 lb and 64 lb of the life assured.
   
   

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7. How much is the premium?

   It depends on your gender, age at entry, term and sum assured.

   Monthly premium for sum assured of $100,000

   	Male ...				Female ...
   Age	10 yrs	15 yrs	20 yrs	25 yrs	10 yrs	15 yrs	20 yrs	25 yrs
   20	$9	$9	$10	$11	$6	$7	$7	$8
   25	$9	$10	$11	$12	$7	$7	$8	$9
   30	$10	$12	$13	$16	$8	$9	$10	$12
   35	$14	$16	$19	$24	$10	$12	$14	$17
   40	$19	$23	$29	$37	$14	$17	$20	$24

   
   Note: This is prepared for illustration only
   

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8. How do I apply for i-Term?

   You can apply online via www.poems.com.sg. You just need to answer 4 simple questions and it will take you about 5 minutes to complete the online application.
   

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9. Is the premium rate guaranteed?

   The premium rate is guaranteed for the term of the policy.
   

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10. Do I get any money back?

    i-Term is designed to provide maximum cover with low premiums. It does not have any savings. You do not get back the premiums paid at the end of the term.
    

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11. What other important matters should I know?

    i-Term is just your first level of insurance cover. It is important for you to also consider dread disease cover, health insurance cover to meet medical expenses, saving for the future and investment needs.
    

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