A person cannot foresee when he will die and how, for death comes unannounced, and it affects everyone around us. Now, while we cannot stall death, we can at least ensure that others around us carry on with their lives. Opting for a life insurance policy will make sure that our family is protected even after our death.
DBS is one of the leading banks in the world and is a well- known name in the banking and financial sector in Asia. With its headquarters in Singapore, the bank has a significant presence in different parts of the earth.
DBS bank has a wide range of products and services for its customers to choose from. Be it loans, insurance or cards, the bank provides it all. Today, the bank has over 250 branches in 17 markets around the world and is growing everyday.
About DBS Bank Life Insurance
DBS bank provides extensive coverage to its customers through its life insurance policies. It helps in protecting a person’s life from unpredicted events. Apart from his own life, DBS bank’s life insurance policies ensure that a person’s family feels safe in case he comes face-to-face with life-threatening situations. These policies also aid a person in planning a better future.
DBS bank provides three types of life insurance schemes to its customers -
- MyProtector- MoneyBack
- MyProtector- Level Plus
DBS Bank Life Insurance Policies
Through its MyProtector- MoneyBack insurance policy, DBS bank refunds the full premium at the end of the term, if no claim is made.
MyProtector- MoneyBack Policy Features and Benefits
- This policy returns 100 percent of the total premium paid by the insured person
- A person can get up to S$500,000 as part of simplified underwriting
- The premium amount is fixed during the full policy term
- A person can choose the term of their policy. For example - 15 years, 25 years or 30 years
- A person's family will avail 200 percent of the basic sum assured and the total premiums in case of death by accident
- In case a person dies or suffers from permanent disability or terminal illness, then he or his loved ones will avail the sum assured and the total premiums
Through its MyLifeChoice insurance policy, DBS bank provides a whole life insurance plan which covers the important events of a person's life such as marriage. It also helps him gather money to live a safe life after retirement.
MyLifeChoice Features and Benefits
- This policy allows you to initiate accumulating cash from the third year of the policy
- This policy allows a person to choose their policy term
- This policy provides an additional coverage of up to 50 percent for any important life event
- This policy gives a person the option of withdrawing a lump sum amount or enhance their cover by including critical illness and permanent and total disability in their protection plan
- The premium is fixed during the full policy term
- This policy provides a very high coverage, which can go up to 275% of the sum assured with the MPV (Minimum Protection Value)
|Age of entry||1 to 12||13 to 24||25 to 29||30 to 34||35 to 39||40 to 60|
|Sum assured||Minimum Protection Value (percent of the basic sum assured)|
|275 percent||250 percent||220 percent||200 percent||170 percent||150 percent|
MyProtector- Level Plus
Through its MyProtector- Level Plus insurance policy, DBS bank helps one protect the people who are dependant on him.
MyProtector- Level Plus Features and Benefits
- This policy provides a lump sum payment in a situation of terminal illness or death during the term of the policy
- This policy is flexible as it provides a choice in the currency. A person's premium amount can be paid in currencies like SGD, AUD, GBP, USD, EUR or HKD
- This policy provides coverage and increased protection in case of permanent and total disability, critical illness, etc.
- This policy provides the option to increase the coverage during important events of life. For example - marriage, children's graduation, etc.
- This policy has a fixed premium during the policy term
Frequently Asked Questions (FAQs)
- Where can I find more information about DBS bank life insurance policies?
- Are the life insurance policies provided by DBS bank protected?
- Are the life insurance policies written by DBS bank?
- How do i apply for DBS MyLifeChoice insurance policy?
- The description says that the total premium paid will be returned in the MyProtector- MoneyBack insurance policy. Does this ‘total premium’ include the interest?
To find out more information about DBS bank life insurance policies, one should either visit the bank’s website or visit it in person. A person can also call up on the numbers provided on the website.
Yes, the life insurance policies provided by DBS bank are protected by the Policy Owners’ Protection Scheme, which is controlled by SDIC (Singapore Deposit Insurance Corporation).
The life insurance policies provided by DBS bank have been written by Aviva Life Insurance Company.
To apply for the DBS MyLifeChoice insurance policy, one should contact the bank or visit the branch nearest to him in person.
No, the total premium which will be returned according to the MyProtector- MoneyBack insurance policy does not include the interest.