GREAT Value Protect (Plan 5) is a non-participating group personal accident product. It provides financial protection for the Insured Life against Death & Total and Permanent Disability as a result of accident. It also provides daily hospital allowance, for the Insured Life when he/she is hospitalised due to Accident, Covered Sickness or Coronavirus Disease (COVID-19) infection.
GREAT Value Protect (Plan 5) is provided by The Great Eastern Life Assurance Company Limited (hereinafter called “we” or “our” or “us” or “the Company”), at 1 Pickering Street, #16-01, Great Eastern Centre, Singapore 048659
The Great Eastern Life Assurance Company Limited is a wholly owned subsidiary of Great Eastern Holdings and a member of the OCBC Group.
Any of the following person who is eligible to participate in the insurance plan under this Policy has been agreed in writing between the Policyholder and the Company:
i) Caregiver Asia members;
ii) Family members of Caregiver Asia members:
b. Child(ren) – biological, adopted & step child(ren)
d. Parents in-law
who is a Singaporean or Singapore Permanent Resident or with a valid employment pass (EP holders or S Pass holders) / dependant’s pass; and is residing in Singapore.
i) Caregiver Asia members / Spouse / Parents / Parents in-law: between age 16 and 65 years old (next birthday) at Effective Date
ii) Child(ren): between age 2 and 15 years old (next birthday) at Effective Date
|Benefits - GREAT Value Protect (Plan 5)||Sum Assured, S$|
|a) Accidental Death Benefit||S$20,000|
|b) Accidental Total and Permanent Disability Benefit|
|c) Death due to Coronavirus Disease (COVID-19)||S$10,000|
|d) Medical Expenses||S$200 (per Accident or Covered Sickness)|
|e) Hospital Allowance||S$100 per day, up to a maximum of 14 days due to any one Accident, Covered Sickness or Coronavirus Disease (COVID-19).|
The aggregate of compensation payable under any or all of (a) and (b) in respect of any one Accident shall not exceed S$20,000.
i) “Hospital Allowance” means a daily allowance that shall be payable up to a maximum of 14 days for Hospitalisation occurring within 36 hours of an Accident, Covered Sickness or Coronavirus Disease (COVID-19) infection and requiring Hospital confinement in Singapore pfor at least 12 hours.
The benefit is not applicable to anyone requiring quarantine at home, Government Quarantine Facilities or other suitable facilities to those:
a) who are served a quarantine order under the Infectious Diseases Act;
b) who are being placed under leave of absence;
c) who are self-quarantine;
d) who are being placed under stay-home notice.
ii) “Covered Sickness” refers to unequivocal, final and confirmed diagnosis by a Registered Medical Practitioner in accordance with prevailing clinical guidelines published by Ministry of Health, where available, supported by acceptable clinical, radiological, histological and laboratory evidence:
a) Food Poisoning
b) Dengue / Yellow Fever / Zika
iii) “Coronavirus Disease (COVID-19)” refers to unequivocal, final and confirmed diagnosis by a Registered Medical Practitioner in accordance with prevailing clinical guidelines published by Ministry of Health, where available, supported by acceptable clinical, radiological, histological and laboratory evidence.
iv) “Hospital” means an establishment constituted and registered in Singapore as a hospital for the care and treatment of sick and injured persons as bed-paying patients and which:
a) has facilities for diagnosis and major surgery, provides 24 hours a day nursing services by registered nurses and is under the constant supervision of a Registered Medical Practitioner;
b) is a Government/ restructured/ private specialist medical centre.
However, the term “Hospital” does not refer to a clinic, an alcoholic or drug rehabilitation centre, a nursing, rest or convalescent home, a spa or a hydroclinic, a community hospital or similar establishment.
The terms of the Policy may be amended by the Company from time to time upon the Company giving a 30 days prior notice to the Policyholder. Any amendments to this contract shall be binding on all Insured Life whether insured under this Policy prior to or on or after the effective date of the amendment.
5. PREMIUM RATE
i) The premium payable (inclusive of 7% GST) is S$35.50 per Insured Life.
ii) All premiums paid for all insurances on or after the Effective Date will not be refunded after the Free Look Period or in the case of fraud or for a Prohibited Person.
iii) There is no adjustment of premium during the insurance coverage term of 12 months from the Effective Date.
iv) The Policy coverage is subject to the Insured Life pay the premium as per clause 5 (i) to the Policyholder. The Policyholder will pay the premium to the Company.
6. UNDERWRITING AND ISSUANCE
6.1. Guaranteed Issuance Limit
GREAT Value Protect (Plan 5) : S$$20,000 up to 65 age next birthday
6.2. Additional Notes
i) You cannot be covered by more than one plan under this Policy. If you happen to be covered under more than one plan under GREAT Value Protect, the insurer will consider your coverage under the first plan only and your coverage under other plans will be cancelled. Insurer will refund you any premium paid for subsequent plans without interest
ii) Geographical Limit – Policy only covers treatment received in Singapore for Accidents, Covered Sickness or Coronavirus Disease (COVID-19) infection.
7.1. The coverage of any Insured Life shall automatically be terminated on the earliest of the following dates:
i) The date of expiration of the period for which the last premium payment is made in respect of his coverage;
ii) After the expiry date of issue of his Certificate of Insurance;
iii) The date the Insured Life dies;
iv) When the Insured Life and/or Policyholder is/becomes a Prohibited Person;
v) The end of the Period of Insurance during which the Insured Life reaches his 65th birthday;
vi) When the Insured Life:
a) is not a citizen or permanent resident of the Country of Issue;
b) has resided outside the Country of Issue for more than 180 days, whether continuously or otherwise;
c) is still residing outside the Country of Issue;
vii) When the Insured Life is working in Singapore under employment pass (EP holders or S Pass holders) issued by the Ministry of Manpower, and the contract of employment is terminated.
The Insured Life shall notify the Company in writing of any changes to the citizenship or residency status as soon as practicable. If the Insured Life fails to notify the Company, and there is a claim for any Claim Event(s) occurring on or after the Effective Date following the change of citizenship or residency status, the Company may reject such claim or, at its discretion, adjust the benefits payable.
7.2. This Policy shall be terminated on the date notified to the Policyholder by the Company to terminate the Policy by virtue of war (declared or undeclared) or act of war (whether or not there has been a declaration of war) where such date shall be at the discretion of the Company.
7.3. For the avoidance of doubt, in the case of termination of the Policy due to expiry of the Policy, the insurance cover for the Insured Life may be continued until the expiry date of his Certificate of Insurance.
The insurance under this Policy shall not cover death or any Loss caused directly, or indirectly, wholly or partly, by:
i) Suicide or any attempted suicide or self-inflicted injury or illness, whether the Insured Life is sane or insane;
ii) Any pre-existing condition which existed prior to the Insured Life becoming insured under this Policy;
iii) War (declared or undeclared), hostilities, civil war or any warlike operations; military or naval or airforce service while under orders for warlike operations;
iv) Participation in riot or commission of an assault or act of crime;
v) Participation in competitive racing of any kind other than on foot;
vi) Insane or mental disorder;
vii) The Insured Life being under the influence of alcohol or drugs except drugs prescribed by Registered Medical Practitioner for the purpose of treatment;
viii) Violation or attempted violation of the law or resistance to lawful arrest or any resultant imprisonment;
ix) The Insured Life being in or on an aircraft of any type or boarding or descending from any aircraft, except as a fare-paying passenger or a crew member on an aircraft on a regular scheduled route operated by a recognized airline;
x) Routine general physical or any other examination not directly related to admission, diagnosis, injury or treatment which is not medically necessary;
xi) Congenital anomalies;
xii) Acquired Immune Deficiency Syndrome (AIDS), AIDS related complications and all illnesses or diseases associated with the Human Immunodeficiency Virus (HIV);
xiii) Childbirth, pregnancy and complication thereof;
xiv) Bodily injury sustained as a result of the Life Insured parachuting or sky diving or engaging in any kind of aerial flight;
xv) Accidents that arise in the course of work or at the worksite of the following occupational activities shall be excluded:
a) engaging in active military duties such as commando or bomb disposal duties/training, maintenance of civil order, engagement in hostilities whether war be declared or not and travel by military aircraft or waterborne vessel;
b) working from heights of 20 metres above the ground; or in confined spaces such as vessels, tunnels, underground civil works;
c) as professional sports;
d) operating, servicing and/or installing heavy machinery;
e) providing protective services (including bouncers, life guards, wardens and firemen);
f) work related to martial arts and the like; or as performing artists (including stuntmen);
g) work in the maritime industry (including deep sea diving and sea crews);
h) work in the aviation industry (pilots and aircrew); or
i) working on railway tracks, ships or shipyards, working in warehouses, power stations, chemical factories, industrial plants, offshore rigs, timber camps; or working in the building trade (including construction workers, cable installers, electricians); or working with wood, metal, glass or bleach.
You are advised to read the Policy Terms and Conditions for the exact definitions, terms and conditions and full list of exclusions.
9.1. Definition of Pre–Existing Condition
Any condition, illness, disease, disability or defect for which:
i) the Insured Life has sought medical advice, been investigated, diagnosed, hospitalised, received medical treatment, undergone surgical operation, or been prescribed drugs at any time prior to the Effective Date; or
ii) signs and symptoms manifested prior to the Effective Date, which would have caused a prudent person to seek medical advice or counselling, undergo investigation or diagnostic tests, receive medical treatment, undergo surgery, be hospitalized, or be prescribed drugs.
9.2. Definition of Total and Permanent Disability
i) For actively working Insured Life between 16 to 65 next birthday
"Total and Permanent Disability" means that the disability must be total and permanent and that there is neither at the point of commencement of the disability nor at any time thereafter any work, occupation or profession that the Insured Life can ever sufficiently do or follow to earn or obtain any wages, compensation or profit.
ii) For Insured Life with no gainful occupation age between 16 to 65 next birthday
"Total and Permanent Disability" means the inability of the Insured Life to perform at least 3 out of 6 activities of daily living as defined below, even with the aid of special equipment, and will always require the physical assistance of another person throughout the entire activity
The activities of daily living are:
The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.
The ability to put on, take off, secure and unfasten all garments and as appropriate, any braces, artificial Limbs or other surgical or medical appliances.
The ability to feed oneself food after it has been prepared and made available.
The ability to move indoors from room to room on level surfaces.
The ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances so as to maintain a satisfactory level of personal hygiene.
The ability to move from a bed to an upright chair or wheelchair and vice versa.
iii) Presumptive definition of Total and Permanent Disability - For Insured Life age up to 65 next birthday
An Insured Life shall be regarded as being totally and permanently disabled under the following definition of disability if that Insured Life, due to accidental injury or sickness or disease, has been subject to one (or more) of the following impairments:
a) The total and irrecoverable loss of sight of both eyes; or
b) The loss by severance or loss of permanent use of both hands at or above the wrists or both feet at or above the ankles; or
c) The loss by severance or loss of permanent use of one hand at or above the wrist and one foot at or above the ankle; or
d) The loss by severance or loss of permanent use of one limb at or above the wrist or ankle and loss of sight of one eye
iv) Constant Care definition of Total and Permanent Disability - For Insured Life age up to 15 next birthday
An Insured Life shall be regarded as being totally and permanently disabled under a Constant Care definition of disability, only if that Insured Life, due to accident and has been disabled to such an extent that he / she is required to be confined to a home, hospital or other institution in order to receive constant care and medical attention
The Total and Permanent Disability shall have lasted for not less than six (6) months duration and upon receipt of satisfactory proof of such Total and Permanent Disability, the Sum Assured shall become payable to the Insured Life.
9.3. Risk of the Plan
Definitions of the insured events must be met before a claim can be approved and these events must not fall under the list of exclusions.
9.4. Free Look Period
We give you a period of fourteen (14) days from the date your insurance coverage is effective, during which you can review the Certificate of Insurance. If you decide the Certificate of Insurance is not suitable for your needs, you can inform us in writing within fourteen (14) days from the date you receive the Certificate of Insurance and we will refund any premium paid without interest. We will send a withdrawal notice to you to confirm the cancellation.
9.5. Cancellation of Policy
If the Company terminates the Policy, insurance coverage for Insured Life shall continue with no premium refund.
9.6. Cancellation of Insurance Coverage
This Certificate of Insurance may be terminated by the Company or the Insured Life by giving 30 days’ notice in writing. Termination of this Certificate of Insurance by the Insured Life or the Company shall be without prejudice to any claim arising prior to such termination. If the Certificate of Insurance is terminated by the Company, a prorata premium (prorata premium without interest) will be refunded to the Insured Life. If the Certificate of Insurance is terminated by the Insured Life, no premium will be refunded but insurance coverage shall continue.
9.7. Profits / Surrender Value
The Policy will not participate in the profits of the Company and no surrender value will be paid in respect of any cover terminated before the expiry of the Period of Insurance.
9.8. Warning Against Early Termination or Switching of Policies
It is usually detrimental to replace an existing accident and health policy with a new one. A penalty may be imposed for early policy termination and the new policy may cost more or have less benefits at the same cost.
9.9. Policy Owners’ Protection Scheme
This Policy 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 the Insured Life. 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 the Company or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).
9.10. General Information
This product summary 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 Terms & Conditions.
You are responsible for the accuracy and completeness of the information given to us:
(i) in any application for the policy; and
(ii) when making any claim under the policy.