Prestige Harvest II - Crediting Rate
Prestige Harvest II is a US dollar denominated whole life non-participating single premium universal life plan that offers life insurance coverage and the opportunity for cash value accumulation.
This product is designed for the sophisticated and mass affluent market comprising of professionals, managers and business-owners who are constantly seeking out plans to help them in their estate planning, estate distribution, liquidity planning and retirement planning. Prestige Harvest II's primary objective is to provide death coverage while the cash value accumulation feature serves as a secondary objective.
For Prestige Harvest II, one unique feature is the crediting rate that will help enhance the value of your policy.
Your Account Value1 will grow at a minimum guaranteed crediting rate of 3% p.a. for the initial single premium placement and 1% p.a. for the single premium additions (if any). The actual crediting rates in Prestige Harvest II will be determined by the company but it will not be lower than the guaranteed crediting rates.
Please see table below for the current crediting rates.
||New Money Crediting Rate
||General Crediting Rate
22 Nov 2011
||4.0 % p.a.
1 Account Value is the total value of the New Money Value4 and the General Total Value under this policy.
2 New Rate refers to the crediting rate which applies to the New Money Value4 (i.e., intial single premium), and the New Rate will be at least 3% p.a.
3 General Rate refers to the crediting rate which applies to the General Total Value5 (i.e., single premium additions), and the General Rate will be at least 1% p.a.
4 New Money Value refers to the amount of the Single Premium less the amount deducted under clause 9.1, the insurance charges under clause 9.2 and any withdrawals under clause 12 plus the interest accrued. The New Rate will apply to the New Money Value.
5 General Total Value refers to the total sum of all the Single Premium Additions less the amounts deducted under clause 9.3, the insurance charges under clause 9.2 (where applicable) and any withdrawals under clause 12 plus interest accrued. The General Rate will apply to the General Total Value.
The above is for general information only. It is not a contract of insurance. The precise terms and conditions of this insurance plan are specified in the policy contract.
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 may be less than the total premium paid.
Policy Owners' Protection Scheme
This plan is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg)