Life and Accidental Death & Disablement Insurance
Insurance Provider: AVIVA Insurance
All regular full-time employees below age 65 years are covered for Life and Accident Insurance.
The sum assured is two (2) times of your annual salary. Annual salary includes base salary and target bonus.
Life Insurance Death Benefit
In the event of death from any cause, your beneficiaries will receive a lump sum of the sum assured, or the remaining sum assured, after payment of any benefit under the advanced payment benefit.
Advanced Payment Benefit
Upon certification of high probability of death within the next 12 months, the sum assured will be payable in advance as follows:
- 100% of sum assured, subject to max. S$200,000
- The excess, if any, will be payable in one lump sum upon your death in the next 12 months from date of diagnosis
Total and Permanent Disability Benefit
Upon certification of total and permanent disability, up to 100% of the Sum Assured or S$200,000 (whichever is lower). The balance of the Sum Assure will be payable upon death within 12 months from the date of diagnosis.
Coverage will be extended for a period of up to 12 months if the insured member is medically boarded out and unemployed during the same period.
You would be automatically enrolled upon commencement of your employment at VMware.
Automatic Acceptance Limit
The policy has an Automatic Acceptance Level of S$800,000 up to age 64. Employees with salary or age above the indicated threshold will be subject to underwriting requirement basis which coverage will be determined. In such instances, Aviva will send you a notification to complete a medical examination for medical underwriting.
VMware pays 100% of the premium costs for the Accidental Death and Disability insurance and Group Term Life.
When Coverage Begins
Coverage begins on the first day of your employment at VMware.
When Coverage Ends
Coverage ends on the last day of your employment with VMware.