• CIMB Life Insurance

    CIMB offers tailor made protection plans that can help protect you and your family with financial security.

    Find below the various Life Insurance Plans offered by CIMB:

    • NTUC Income VivoLife
    • NTUC Income Mortgage Protection Plan
    • TM Term
    • Manulife Credit Protect

    NTUC Income VivoLife

    This plan offers 3 types of plans to choose from + provides peace of mind in case of early detection of cancer.

    Features and Benefits:

    • Choice of 3 Plan types:
      • VivoLife 125 – 125 percent of sum assured.
      • VivoLife 180 – 180 percent sum assured.
      • VivoLife 350 – 350 percent sum assured.
    • Premium Payment Term Choices:
      • Payment tenures of 5/10/15/20/25 years offered.
      • Alternatively, you can also make payments up to the age of 64 or 84 (according to your last birthday).
    • Annuity Plan Conversion Bonus:
      • Convert your policy into an annuity plan starting from your 60th birthday and receive 5% increase in your cash value.
    • Additional benefits:
      • Accidental death cover of up to 200% of the sum assured.
      • Premiums will be waived upon early detection of cancer.
      • Premiums will be waived upon retrenchment.

    NTUC Income Mortgage Protection Plan

    Through this plan, in an event of your death or TPD (Total & Permanent Disability), the outstanding balance on your property loan will be paid off.

    Features and Benefits:

    • Affordable Premium - Depending on the remaining term of your loan, you can choose coverage between 5 and 35 years.
    • Short Premium Term - Depending on the remaining term of your mortgage, you can choose coverage between 5 and 35 years.
    • Add Living Benefit Rider and receive cover against 30 major illnesses. Upon diagnosis of any of the 30 illnesses, your future premiums will be waived.

    TM Term

    This affordable Life Insurance plan offers coverage in an event of death, TPD (Total & Permanent Disability) and TI (Terminal Illness). This plan provides basic cover with a flexibility to add comprehensive coverage through add on riders in addition to your chosen policy term.

    Features and Benefits:

    • Your family will receive a lump sum payout in an event of your death, TPD or TI.
    • You can renew your plan without medical underwriting after the elapse of your policy term.
    • You can convert this term plan into an endowment plan or a regular premium whole life plan while continuing to retain your basic coverage. Health declaration is not required to convert your plan.

    Manulife Credit Protect

    This plan provides coverage on the outstanding balance of your account in an event of your death, TPD (Total & Permanent Disability), Critical Illness or Total and Permanent disablement.

    Features and Benefits:

    • You can nominate an account for which Credit Protect will cover your minimum amount due in case you are not able to work due to TPD (Total & Permanent Disability) for a minimum consecutive period of 30 days.
    • In an event of your death, TPD (Total & Permanent Disability), Critical Illness or Total and Permanent disablement, 2 times the outstanding balance on your account will be paid.
    • You will receive a high benefit payout of 2.4X your credit limit or up to SGD 80,000, whichever is lower.
    • You will be granted a waiver on your premiums in case of Total & Temporary Disablement after having suffered from Total & Temporary Disablement for a minimum consecutive period of 30 days AND the period for which you are receiving benefit payments for the same.

    Fees and Charges:

    • A fee of SGD 0.36 will be charged for every SGD 100 of your outstanding balance. This includes unbilled instalments and is the sum of the closing balance.
    • No extra fee will be charged for a particular month wherein there is no closing balance.

    Eligibility Criteria:

    • Singaporean Residents between the ages of 18 and 60 years on the commencement date of the policy are eligible to apply for this plan. The policy can be renewed for up to 65 years of age.
    • Singapore resident in this case refers to the following:
      • Singapore Citizen
      • Singapore Permanent Resident
      • Foreigners holding a valid Work Permit, S Pass or Employment Pass issued by Singaporean authorities.

    Applying for Manulife Credit Protect:

    • You can apply for Credit Protect online by clicking on the “Apply Now” button found on the Manulife Credit Protect web page of the CIMB Singapore website.
    • The Claim forms for Total & Temporary Disablement, Critical Illness and Death are found on the Manulife Credit Protect web page of CIMB bank.
    • For further inquiries, you can call the bank on their CIMB Credit Cards Customer Service Hotline number (available 24 hours) found on their website.
    • For further details on this plan, you can read the “Credit Protect Information Sheet” available Manulife Credit Protect web page of the bank’s website.

    Applying for NTUC Income VivoLife, NTUC Income Mortgage Protection Plan and TM Term:

    • You can call the bank at the CIMB At-Your-Service phone number provided on the Insurance webpage of the CIMB official website for any inquiries and information on the application process.
    • You can visit your nearest CIMB bank branch and apply for the Life Insurance plan of your choice directly in person.
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