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Who can apply for this Policy?
This Policy is designed exclusively for DBS/POSB customers who are aged between 40 years and 65 years old and residing in Singapore. You can apply for the Policy for yourself, or enroll together with your spouse.
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Can foreigners purchase this Policy?
Yes, foreigners who are residing in Singapore may apply. However, the cover will terminate when you live or intend to live in another country for more than 6 consecutive months.
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Does this Policy cover me for illnesses?
No, this is a Personal Accident policy that pays in the event of an Accident except the Special Daily Hospitalisation Benefit that pays for Dengue Fever, Food Poisoning, Avian Influenza (bird flu) or Influenza A (H1N1).
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Is there any occupation not covered by this Policy?
Yes, there are certain occupations that the Policy does not cover: military personnel, law enforcement officers, fire fighters, civil defense officers, security guards/officers, professional sportspersons, off-shore occupations such as ship crew, divers, oil-riggers and fishermen, shipyard workers, air crew or aircraft technicians, construction/demolition/quarry workers, cleaning and maintenance staff, workers dealing with roofing or repair activities involving scaffolding or gondolas or climbing necessitating the use of guides or ropes, those dealing with explosives, poisonous or hazardous gases or substances.
However, Persons with these occupations can still apply and will be covered when they are off-duty at the same time of the Injury and the Injury does not arise in the course of employment or any activity related to the Insured Person’s employment.
You are advised to read the Policy for a full list and details of the exceptions.
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Are there any other situations where benefits will not be payable?
Yes, they are stated as General Exceptions in the Policy. The following is a list of some exceptions:
- Pre-existing Conditions, as defined in the Policy
- Air travel except as a passenger in a fully licensed passenger-carrying aircraft
- Injury caused by Insured Person under the influence of alcohol or any drugs
- Hazardous sport or activity including parachuting, racing (other than on foot or
- swimming), mountaineering or scuba diving
- Suicide, self-injury or willful exposure to peril
- Pregnancy or childbirth
- War, acts of terrorism, ionizing radiations or radioactive contamination
You are advised to read the Policy for a full list and details of the exceptions.
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Will the premium increase as I grow older?
The premium is not age-related and does not increase as you grow older. However, the insurer can vary the premium and any other term, condition or exception in the Policy by giving you 30 days’ notice of such change.
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Must I inform the insurer to renew the Policy every year?
No, as long as you pay the premium and observe the terms and conditions of your Policy, it will be renewed automatically each year. No renewal advice will be issued.
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Can the Policy be cancelled?
Yes, either you or the insurer can cancel the Policy by giving the other party 30 days’ notice in writing. If you cancel the policy, you will receive a pro-rated refund of premium paid from the date of cancellation provided no claim has arisen and the amount refundable is more than S$10.
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Under what circumstances will the Policy terminate?
The Policy will terminate upon: non-payment of premium by the due date; or cancellation of the Policy either by you or the insurer; or upon the Insured Person attaining his/her 80th birthday; or when the Insured Person resides or intends to reside out of Singapore for more than 6 consecutive months, whichever first occurs.
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Does this Policy have any cash or surrender value?
No, this Policy has no cash or surrender value.
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How do I make a claim?
Please notify the insurer in writing of any event giving rise or likely to give rise to a claim under the Policy as soon as possible but in any case within 30 days of the happening of such event. You will need to complete a claim form and provide at your expense information, evidence or supporting document e.g. receipts, medical certificates or reports which the insurer may require to assess your claim.