PRODUCT SUMMARY

FOR
GROUP TERM LIFE INSURANCE

Policyholder : SAP Asia Pte Ltd

Policy No. : 2020761
Period of Insurance : 1 Jan 2020 to 31 Dec 2020

PRODUCT INFORMATION

With increasing urbanization and the changing social trends, the traditionally larger family unit is gradually being
replaced by smaller family units, which are independent and self-reliant. Every family is dependent upon the pay
packet of the breadwinner, and when the latter’s earning ability is terminated by death or disability, the result may
be a financial disaster. What little savings would be eaten up by more essential needs. If there are no savings, the
family will plunge helplessly into debt. The purpose of the group insurance is to avert or alleviate any of these
undesirable crises that may befall the employee.

This cover is extended 24 hours a day worldwide.

1. Death Benefit

Upon receipt of due proof of death of an Insured Person, a lump sum amount shall be payable.

2. Total and Permanent Disability Benefit

A. In the event an Insured Person becomes totally and permanently disabled as defined in the Policy
and upon receipt of satisfactory proof of such Total and Permanent Disability, the Policy shall pay the
Sum Assured in the following manner:-

(i) Where the Sum Assured does not exceed S$200,000, the Sum Assured shall be paid in a lump
sum;
(ii) Where the Sum Assured exceeds S$200,000, a lump sum of S$200,000 shall be paid as the
first payment and the balance in 3 equal annual instalments.
(iii) In the event of death of the Insured Person while the instalments stated in (ii) above are being
paid, the balance instalments outstanding (if any) shall be paid in a lump sum.

3. Extended Benefit

In the event an Insured Person’s employment is terminated on medical grounds, the insurance coverage
may be extended for a period of twelve months beginning from the date of termination of employment
subjected to the fulfilment of certain criteria specified in the Policy. Premium will be waived during the twelve-
month period.

4. Advance Payment Benefit

In the event an Insured Person diagnosed as suffering from any disease which, in the opinion of a specialist
consultant, is highly probable to lead to death within the next 12 months, an advanced benefit of 100% of the
sum assured, up to a maximum of S$200,000, will be payable.

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BENEFIT OPTIONS

The benefit options indicated in the Product Summary do not necessarily reflect your accepted sum assured by
insurer, as your chosen sum assured maybe subjected to underwriting depending on the rules & policies of the Flex
program.

Core Benefit Optional Benefit

1) Additional 12X Last

Drawn Basic Monthly
Salary at point of
12X Last selection
Drawn Basic
All Employees based in Singapore
Monthly Salary
who are eligible for Flex
at point of 2) Additional 24X Last
selection Drawn Basic Monthly
Salary at point of
selection

KEY PRODUCT PROVISIONS

1) EXCLUSIONS

Not applicable.

2) NON GUARANTEED PREMIUM

Premiums payable for this plan are not guaranteed and may be increase at Policy Renewal at the full discretion
of the Company.

3) TERMS OF RENEWAL

Coverage may be renewed on the Policy Anniversary Date by payment of the annual premium, we can vary
the premium and any other terms, conditions or exclusions in this policy by giving you written notice of such
change, if you continue to pay premiums after we give such notice, it means you accept the change.

4) CANCELLATION CLAUSE

We may terminate this Policy on any Renewal Date by giving you at least 30 days’ prior written notice of
termination. Whenever such cancellation occurs, the Company shall return the unearned portion of premiums
paid. The termination of coverage shall be without prejudice to payment of claims arising prior to the date of
termination.

5) WAITING PERIOD

Not applicable.

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6) MISSTATEMENT

A. If the age or date of birth or other relevant facts relating to any Insured Person is misstated and this
affects the scale of benefits or other terms and conditions of this Policy, then we will use the true age
and facts to determine whether insurance coverage is in force and the benefits payable under this Policy
and if, in our opinion is necessary, an equitable adjustment of premiums will be made and notice of the
adjustment will be given to you.

B. Where a misstatement of age or other relevant facts has caused a person to be insured under this Policy
when he is otherwise ineligible for any insurance, or where such statement has caused a person to
remain insured when he would otherwise be disqualified in accordance with the provisions of this Policy,
his entire insurance coverage shall be void and there shall be a refund of premiums paid. However, if
there is a fraud on the part of the Insured Person, premiums paid shall not be refunded.

7) FREE LOOK PERIOD

Not applicable.

IMPORTANT NOTICE

This is only product information provided by us and is designed to serve as a guide only. In the event of
clarification or dispute, the prevailing terms and conditions of the Group Insurance contract with your employer
shall apply.

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