Insurance

Insurance Summary

The insurance policies and riders displayed on your DBS iBanking, DBS digibank and DBS iWealth® are issued and underwritten by Manulife (International) Limited (Incorporated in Bermuda with limited liability) (“Manulife”). DBS Bank (Hong Kong) Limited (the “Bank”) is acting as a licensed insurance agency of Manulife. It is not an obligation of, deposit in or guaranteed by the Bank.

For Manulife policies:
Policies in which you are the policyowner/ policyholder for the plan and the policy status is active/ in force will be displayed via DBS iBanking, DBS digibank and DBS iWealth®. You will not be able to see policies that have been assigned to a third party. If you have requested for a change of servicing agent to a non-DBS representative, your policy details will not be updated moving forward as DBS would no longer have access to your updated policy information once the change has been effected.

Please note that:

  • The premium amount reflected on your account summary post login and "View Insurance Summary" page refer to the total premium amount of your policy(ies). The individual policy details page will show the premium amount of your basic policy along with the premium amount of the respective rider(s) attached.
  • The next premium due date reflected on your “View Insurance Summary” and individual policy details page will not take into consideration any specific guaranteed cash benefit instructions or prepayment arrangements for your policy.
  • The premium amount displayed on your account summary post login and "View Insurance Summary" will become '0' when all premium of your policy has been due and paid.
  • The policy details of the insurance policies and riders displayed on your DBS iBanking, DBS digibank and DBS iWealth® are provided by Manulife and are for reference only. The online display data might have discrepancy with your consolidated statement display data, which is due to different time of data extraction. The Bank shall assume no responsibility/ liability of any inconsistency, contradiction or difference. For enquiry, please contact Manulife Customer Service Hotline at +852 2510 3383.

The policies displayed on your DBS iBanking, DBS digibank and DBS iWealth® are classified into 2 main categories:

  • Protection: Policies offering protection for unforeseen circumstances e.g. critical illness or hospitalisation cover
  • Savings: Policies fulfilling retirement and savings goals

For better understanding of the coverage offered by each plan, the policies are further classified into these sub-categories (“Coverage Type”):

  • Health: Policies offering protection for your health and medical needs
  • Income Stream: Policies offering a stable stream of income to accumulate wealth and support your financial goals
  • Life Protection: Policies offering protection for unforeseen circumstances e.g. critical illness or hospitalisation cover
  • Savings: Policies fulfilling retirement and savings goals

For Non-Manulife policies:
Only Manulife policies are available for display via DBS iBanking, DBS digibank and DBS iWealth®. If you are the policyowner/ policyholder of a Chubb policy distributed through the Bank, you will not be able to see the policy details displayed on your Insurance Summary. Please refer to your policy document which was sent to the email address you provided during application. If you have questions about policies distributed through the Bank that are issued and underwritten by insurers other than Manulife or Chubb, please contact the respective insurers directly.

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Glossary

This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business.

  • Accidental Death Benefit/ Death Benefit: The amount of benefit that will be paid in the unfortunate event of death of the life insured
  • Annual Dividends: The divisible surplus determined annually by the insurer
  • Cash Value: Policies that provide a combination of protection and savings and pays a maturity benefit at the end of the period
  • Endowment: Policies that provide a combination of protection and savings and pays a maturity benefit at the end of the period
  • First Payout Date: The date in which the policyholder will start receiving a regular income stream
  • Guaranteed Cash Value: The amount of money the policyholder is guaranteed to receive upon cash-in
  • Last Payout Date: The date in which the last payout has been made and subsequent payouts will cease
  • Life Assured/ Insured: The person that the policy insures or covers
  • Non-Guaranteed Cash Value: The non-guaranteed benefits the policyholder potentially receives upon cash-in
  • Non-Participating policy: Policy which does not allow policyholders to participate or share in the profits of the participating fund of the insurer
  • Participating policy: The non-guaranteed benefits the policyholder potentially receives from the policy at the end of the policy term for a participating policy
  • Non-Participating policy: Policy which does not allow policyholders to participate or share in the profits of the participating fund of the insurer
  • Participating policy: Policy that benefits from the insurer's surplus distributions from the participating fund
  • Payout Amount: The dollar value in which the policyholder will receive for each payout
  • Policy Owner: The policyholder of the policy
  • Policy Term: The period of time the life insured / policyholder is covered for
  • Premium Amount: The amount that the policyholder pays for the insurance cover and benefits of the policy
  • Rider: A provision or modification to an existing insurance policy that provides additional coverage
  • Total Cash Value: The amount of money the policyholder may potentially receive upon cash-in. This amount comprises of guaranteed and non-guaranteed amounts
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