208mm

210mm

210mm

Health Protection

CASE STUDY 1: HENRY

CASE STUDY 2: ESTHER

Henry worked as a Systems Engineer in a leading MNC. His wife works in HR and,
together with their two children, they live in a condominium.

Esther lives in a 4-room HDB flat with her parents and younger sister who
are her dependants.

Henry met with an accident and lost his right leg. Due to impaired mobility, he was
unable to go back to his job. He took up a new role as a translator, which allowed
him to work from home. PayAssure paid him a monthly income benefit. Both sources
of income allow him to maintain his current standard of living.

At age 35, she suffered a stroke, which left her right side paralysed. She was
wheelchair-bound and went through a rehabilitation programme and treatment.
During the time when she was unable to work, PayAssure paid her a monthly
income benefit.

HENRYS MONTHLY HOUSEHOLD EXPENSES

At age 38, she fully recovered and went back to work.

Mortgage Repayment
Food/Meals
Daily Necessities/Groceries
Car Loan
Utilities Bill
Childrens Education
Phone Bill
Insurance
Parents Allowance
Travel/Holiday
Entertainment
Miscellaneous

Mortgage Repayment
Food/Meals
Daily Necessities/Groceries
Transport
Utilities Bill
Phone Bill
Insurance
Parents Allowance

POLICYHOLDER INFORMATION
Occupation:
Systems Engineer
Monthly Salary:
S$10,000
Reason for Disability:
Accident
Gender:
Male
Age at Entry:
40
Occupational Class:
1
Pre-Benefit Period:
90 days
Benefit Payable Period: Up to age 60
Benefit Amount:
S$7,500
Monthly Premium:
S$108.50 (standalone)

S$7,450

S$900
S$300
S$500
S$120
S$80
S$60
S$200
S$500

POLICYHOLDER INFORMATION
Occupation:
Secretary
Monthly Salary:
S$5,000
Reason for Disability:
Stroke
Gender:
Female
Age at Entry:
30
Occupational Class:
1
Pre-Benefit Period:
180 days
Benefit Payable Period: Up to age 65
Benefit Amount:
S$2,500
Monthly Premium:
S$53.55 (standalone)

S$2,660

Total Monthly Expenses

HOW ESTHER BENEFITTED

HOW HENRY BENEFITTED

(Pre-Disability Earnings Present Earnings) Monthly
X Income
Pre-Disability Earnings
Benefit

Receives S$7,500
as monthly income benefit
Worked as a Systems
Engineer, earning S$10,000

Protect your salary with a financial lifeline

ESTHERS MONTHLY HOUSEHOLD EXPENSES

S$2,000
S$1,400
S$400
S$900
S$250
S$500
S$100
S$500
S$800
S$300
S$100
S$200

Total Monthly Expenses

PAYASSURE

Eg. S$10,000 S$3,000 X S$7,500

S$10,000

In addition:
Up to S$22,500 of rehabilitation
expenses reimbursement

Received S$2,500
as monthly income benefit

= S$5,250

Worked as a secretary,
earning S$5,000

Receives monthly benefit of S$5,250

to supplement his reduced income

Met with an
accident

In addition:
Up to S$7,500 of rehabilitation
expenses reimbursement

Continued to be covered
after her recovery.
(Resumed premium payment)

Suffered a
stroke

S$7,500/mth

S$2,500/mth

S$5,250/mth

Age

Age
40

50
90 days of
Pre-Benefit Period

Took up a new
role as a translator
earning S$3,000

52

60

S$3,000/mth

(New salary)

Benefit payable
until age 60

30

35

38

Fully recovered

65

180 days of
Pre-Benefit Period
Premium waived

Premium waived

Premiums paid (10 years

plus Pre-Benefit Period):

S$13,345.50

Reduced premium if taken as a rider and/or based on an annual payment mode.

Premiums paid (5 years

plus Pre-Benefit Period):

Payout received (10 years

less Pre-Benefit Period):

S$3,534.30

S$661,500

Payout received (3 years

less Pre-Benefit Period):

S$75,000

Reduced premium if taken as a rider and/or based on an annual payment mode.

greateasternlife.com
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mm012

A MONTHLY INCOME BENEFIT

WHEN YOU NEED IT THE MOST
When illness or injury stops you from working, the lack of a regular income could add to your mounting stress and
result in a vicious cycle. PayAssure helps you break this cycle by providing a monthly income benefit of up to 75%
of your average monthly salary1. Whats more, the plan even supplements your income if you go back to work in a
reduced capacity2. Now let us help you take care of your expenses while you focus on your recovery.

mm012

mm802

WHAT YOU SHOULD KNOW

PAYASSURE
TAKE NOTE OF YOUR FINANCIAL COMMITMENTS

HEALTH MATTERS

Mortgage payments, childrens school fees, grocery bills ...monthly financial commitments continue to
grow. A survey by the Department of Statistics has shown that the average monthly household income
expenditure in Singapore was S$3,764 in 2008*. Assuming an average inflation rate of 3.5% per annum in
Singapore, this figure is expected to be S$4,789 in 2015! Even with a regular income, staying on top of bills
requires careful planning.

Recovery usually takes place

in 3 to 6 months but may
continue for many years.

So how would you cope should you unexpectedly find yourself unable to work due to an illness or injury?
PayAssure covers up to 75% of your average monthly salary and even supplements your income if you return
to work in a reduced capacity.

BREAK
THE CYCLE
WITH
PAYASSURE

Device improves stroke recovery, 12 Apr 2013, the Straits Times.

singhealth.com.sg
5
Lifestyle choices cut colon risks, 27 Mar 2013, the Straits Times.
6
Department of Statistics.
3

Average Monthly Salary

Monthly Expenditure

9106 road accident injuries

and 195 fatalities in
Singapore6 in 2012.

A third of stroke patients do

not recover at all.4

To fully appreciate the income protection that PayAssure offers, complete the budget planner below.

A
VICIOUS
CYCLE

Colorectal Cancer:
Singapores most prevalent
cancer with 8,4595 new cases
between 2007 and 2011.

About 5,7003 stroke cases

a year in Singapore, some
patients as young as 15.

Average Cash Expense Amount (S$)

Basic Items
Mortgage Repayment/Rent
Food/Meals
Daily Necessities/Groceries

If you cannot work due to an illness

or injury, are you able to fall back on
your alternative financial sources?

Savings

Car Loan/Transport

Covers you when you are unable to work in your occupation

Utilities Bill

PayAssure is the first in Asia to cover up to 75% of your average monthly

salary1 if you are unable to perform the primary duties of your own
occupation2 due to an injury or illness throughout the entire disability period
and suffer an income loss or reduction.

Childrens Education/Enrichment Fee

Phone Bill
(Home + Mobile + Broadband)

Continue to receive a partial monthly income benefit to supplement your

income when you return to work in a different occupation in a reduced
capacity2.

Lifestyle Items

Sale of
possessions

Help from family

or friends

Entertainment/Social Activity
Miscellaneous
(Shopping, facial, gym membership)

Premium waiver

Your Total Monthly Expenditure

(Basic + Lifestyle)

You are not required to pay any premium while you receive the monthly
income benefit.

Average Monthly Savings

Customised plan according to your needs

* Household Expenditure Survey 2007 2008, Singapore

Department of Statistics.

Y19855 308273 GE Payassure SalesKit.indd 4-6

Spouses income

Travel/Holiday

Be reimbursed for rehabilitation expenses e.g. physiotherapy for up to three

times your monthly income benefit.

This average is determined based on your earnings over the last 24 months for salaried
employees and 36 months for self-employed at the time of application.
2
Terms and conditions apply.

Employment
benefit

Parents Allowance

Rehabilitation expenses benefit

Choose the length of your Pre-Benefit Period (60, 90 or 180 days) and also
the age up to which you receive your monthly income benefit (55, 60 or 65
age next birthday).

Government
support

Insurance

Supplements your reduced income

5 KEY
BENEFITS
OF
PAYASSURE

Insurance

This average is determined based on your earnings over the last 24

months for salaried employees and 36 months for self-employed at
the time of application.
Terms and conditions apply.

Disclaimer:
This sales kit 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,
if any, may be less than the total premiums paid. It is usually detrimental to replace an existing accident and health plan with a new one. A penalty may be imposed
for early plan termination and the new plan may cost more or have less benefits at the same cost. This information is confidential and strictly for internal circulation
only. It is not to be reproduced, in whole or in part, for external circulation to policyholders or prospects for whatever purpose.
The presented solution is for illustrative purpose and does not have regard to the specific investment objectives, financial situation or particular needs of any specific
person. For completeness, customers should go through a proper fact-finding with a Distribution Representative to establish individual needs, personal risk profile and
suitable product recommendations.
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).
Information correct as at 1 July 2013.
The Great Eastern Life Assurance Company Limited (Reg No. 1908 00011G)
1 Pickering Street, #13-01 Great Eastern Centre, Singapore 048659
Product Enquiry Line: +65 6248 2211

6/13/13 3:55 PM