Life Insurance

  • life insurancelife insurance

    The biggest risks are the ones you can manage



Keyman Protection

Potentially protects against the Loss1 of a key person.

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employee benefits

Employee Benefits

Provide employee benefits that potentially attract and retain talented personnel.

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  • Compensates2 a business in the event of an unexpected loss1 of a key person
  • With Keyman Insurance, your business can:
    • Mitigate potential negative financial impact due to the loss of a key person (i.e. life insured); or
    • Enable business continuity and sustainability
  • Choose from a range of products under the Golden Handcuff Schemes3 to attain employee retention

Business Loan Protection

Ensure that credit obligations are insured against Total and Permanent Disability and/or Death of life insured and that the burden does not rest with the life of insured's estate4 and or business partner(s) upon Death of the life insured4.

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buy and sell

Share Buy / Sell Arrangements

Enables the possible transfer of share ownership to remaining partner(s) / shareholder(s) upon occurrence of covered events6

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  • Minimises the need for sudden replacement of a guarantor
  • Insurance payout could potentially help repay outstanding loans(s)5
  • Protects the life insured's personal estate4 that has been pledged as a collateral in the event of Death of the life insured
  • Surrender value from insurance policy to fund the continuation of the business in the event of planned retirement
  • Funds the continuation of the business upon the Death / Terminal Illness of life insured7
  • Insurance payout could potentially be used for shares buy sell due to occurrence of covered events6. Beneficiary(ies) of the life insured will receive the sum assured stated in the policy to fund the transfer of share ownership

How to Apply

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1 Loss refers to Death, Total and Permanent Disability (TPD) and/or Terminal Illness (TI). Please refer to the policy contract for the specific coverage under the policy.

2 Compensation refers to the sum assured stated in the policy contract issued by Prudential Assuarance Company Singapore (Pte) Limited.

3 Golden Handcuff Schemes are typically system of financial incentives designed to keep an employee from leaving the company. The said schemes may include Life Insurance products that provide coverage for Death, TPD, TI and/or Accidental Death benefits.

4 Applies to companies with sole directorship or guarantor(s) of the company/partner(s) of a partnership.

5 Insurance payout may not fully repay the outstanding loan.

6 Insurance payout may not be sufficient for share buy/sell arrangements in the event of Death or Terminal Illness.

7 Shareholders of the company.

Buying a life insurance policy is a long term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. This marketing material is not a contract of assurance nor is it intended as an offer or recommendation with respect to the purchase or sale of the above product. Acceptance of the proposal is subject to underwriting. The precise terms and conditions of any products related hereto are specified in the policy. The above is for general information only and does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You may wish to seek advice from a financial adviser before making a commitment to purchase any products related hereto. In the event that you choose not to seek advice from a financial adviser you should consider carefully whether such product is suitable for you. This material is not required to be reviewed or endorsed by the Monetary Authority of Singapore. Information correct as at 01 June 2012.

United Overseas Bank Limited Co. Reg. No. 193500026Z
Prudential Assurance Company Singapore (Pte) Limited Reg. No. 199002477Z

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