DIRECT - ValueTerm

It is a Direct Purchase Insurance (DPI) term life plan that gives you the choice of essential coverage in 3 policy terms: 5 years with renewable option up to age 65, 20 years, or up to age 65 next birthday respectively. You can also enhance your coverage with DIRECT – Critical Illness Rider. In addition, you stand to enjoy lower premiums than comparable plans as no commission is charged.

Terminal illness coverage pays out when you are diagnosed by a specialist and the life insurer’s appointed doctor as having an illness which is likely to cause death within 12 months. The terminal illness coverage period is the same as death benefit coverage period.

On the other hand, critical illness cover pays out when you experience an illness covered under the rider, which may or may not result in death.

Yes, you sure can. DIRECT – Critical Illness Rider pays out the coverage amount of DIRECT – ValueTerm in a lump sum, upon diagnosis of a critical illness covered under the rider, except for Angioplasty. After a successful claim, the insurance plan and critical illness rider will end.

For Angioplasty and other invasive treatment for coronary artery, the critical illness rider will only pay out 10% of the coverage amount of the insurance plan or S$25,000, whichever is lower. After a successful claim, the remaining coverage amount for the insurance plan and critical illness rider continues to be in effect.

No. The DIRECT – Critical Illness Rider sum insured must be the same as DIRECT – ValueTerm. This is standard across all direct purchase insurance products in the industry.

Our policy terms are designed to meet different needs. The 5 years renewable option up to age 65 next birthday may be ideal if you prefer a shorter coverage with the flexibility to renew. Although the premium at each renewal may be higher due to your age next birthday, the benefits can outweigh the costs – any medical condition uncovered since the start of the policy will continue to be covered after the renewal.

The policy terms that cover you for 20 years, or up to age 65 next birthday, may be ideal if you prefer longer coverage. However, you should consider the age of your dependants when choosing your coverage period, as your dependants will not get any benefits from your policy after it expires.