Smart Silver Campaign and Smart Silver Plus Campaign

Q: What is the insurable age and the coverage period?
A: Insurable age is from 40-80 years old, and the coverage period is until the age of 81. However, the coverage must not exceed the coverage period of the insurance policy that this rider is attached to.

Q: What coverage do Smart Silver Campaign and Smart Silver Plus Campaign provide?
A: Smart Silver Campaign and Smart Silver Plus Campaign provide the following 3 coverage options. 

Alzheimer’s disease and hemorrhagic stroke or ischemic stroke
Total and permanent disability
Broken bone
The insured can choose to receive either one or all coverage according to the needs. Premium will be calculated according to the chosen coverage.

Q: What is the difference between Smart Silver Campaign and Smart Silver Plus Campaign?
A: Smart Silver Campaign and Smart Silver Plus Campaign are different in terms of benefit payout for coverage for Alzheimer’s disease and hemorrhagic stroke or ischemic stroke and total and permanent disability. If the insured is diagnosed with such diseases,

Smart Silver Campaign pays lump sum benefit
Smart Silver Plus Campaign pays monthly benefit in an equal amount for up to 120 months as long as the insured is still alive. If the insured passes away during the benefit payout period, the beneficiary will receive benefit which is equivalent to sum insured amount less the paid benefits.
Smart Silver Campaign and Smart Silver Plus Campaign have the same benefit payment in a case of broken bone.

Q: Is the insurance immediately effective upon the purchase?
A: The coverage for Alzheimer’s disease and hemorrhagic stroke or ischemic stroke and total and permanent disability has the waiting period as to prevent insurance applicants who have pre-existing conditions of such diseases. Thus, there is the insurance condition that the coverage is provided 90 days after the contract formation date. For the coverage for broken bone, the Company provides the coverage immediately after the policy becomes effective.

Q: Does premium of Smart Silver Campaign and Smart Silver Plus Campaign increase based on increasing age range?
A: Premium of Smart Silver Campaign and Smart Silver Plus Campaign increases based on increasing age range of the insured.

Q: Is premium of Smart Silver Campaign and Smart Silver Plus Campaign eligible for tax deduction?
A: This premium is eligible for personal income tax deduction according to the Notification of the Director-General of the Revenue Department

Q: Does Smart Silver Campaign and Smart Silver Plus Campaign need to be purchased to attach to a life insurance policy (base contract)?
A: The rider of Smart Silver Campaign and Smart Silver Plus Campaign is a rider that needs to be purchased to attach to a life insurance policy (base contract).

Coverage agreement for Alzheimer’s disease and hemorrhagic stroke or ischemic stroke
There are 6 clauses of the rider’s exclusions, for example;

The Company shall not cover Alzheimer’s disease and hemorrhagic stroke or ischemic stroke which are directly or indirectly, wholly or partly caused by any of the following causes.

1. Abnormalities confirmed by a physician and clearly proven to be related with the critical illnesses, or the critical illnesses that incurred before the effective date or the reinstatement date or the date that the Company approves to increase the sum insured amount of this rider, whichever is the latest. In this regard, in case the Company approves to increase the sum insured amount, the Company shall not cover the increasing sum insured amount only, unless the insured makes declaration for the Company's acknowledgment and the Company accepts such risk without conditions to exclude such coverage;
2. Commit suicide, suicide attempt or attempts of that sort;
3. Inhale, eat, drink or inject toxic substance into one’s body or by other means, either under a state of sanity or insanity;
4. The insured refuses medical treatments, physician's suggestions or guidance;
5. Treatment that the insured as a physician prescribed for himself/herself and treatment by a physician who is the insured’s father, mother, spouse or child, etc.

Coverage agreement for total and permanent disability
There are 9 clauses of the rider’s exclusions, for example;

The Company shall not cover total and permanent disability which is directly or indirectly, wholly or partly caused by any of the following causes.

1. Commit suicide, suicide attempt or self-inflicted injury;
2. Injury while the insured is committing a felony or while the insured is being arrested or escaping the arrest;
3. War whether declared or undeclared, invasion or act of foreign enemy, civil war, revolution, rebellion, riot, terrorism;
4. Any injury arising while the insured is boarding or disembarking or on board in an aircraft which is not registered to carry passengers and does not operate as a commercial airline;
5. Physical impairments, illnesses, or injuries that the insured acknowledges while the insured is entering into the insurance contract but does not notify the Company, etc.

Coverage agreement for broken bone
There are 24 clauses of the rider’s exclusions, for example;

The Company shall not cover any loss or damage which is due to or related to any of the following causes.

1. Osteoporosis or Pathological fracture;
2. Pre-existing conditions either from injury or illness;
3. Fracture that caused from Pathology or Pathogenesis;
4. Any injury arising from the act of the insured while under influence of addictive substance or narcotic drug that impairs the insured’s mental faculty, or while under the influence of alcohol where the blood alcohol concentration (BAC) test result is 150 mg/dL or over, or while under the influence of alcohol that impairs the insured’s mental faculty in case the blood alcohol concentration (BAC) cannot be tested;
5. Commit suicide, suicide attempt or self-inflicted injury, etc.

Adjustment of premium

The Company may adjust premium on the policy anniversary date due to the following factors.
1) Age and occupation class of each person
2) Higher medical expenses or overall claim experience of the portfolio of this rider whereby the Company shall notify the insured in writing via a registered mail or other means accepted by the insured at least 30 days in advance.
The premium adjustment must comply with the rate approved by the Registrar.

Coverage agreement for Alzheimer’s disease and hemorrhagic stroke or ischemic strokeThis rider does not cover Alzheimer’s disease and hemorrhagic stroke or ischemic stroke (major stroke) or abnormalities confirmed by a physician and clearly proven to be related with Alzheimer’s disease and hemorrhagic stroke or ischemic stroke (major stroke) occurring within 90 days (waiting period) from the effective date of this rider, or the latest date of reinstatement if this rider has been reinstated, or the date that the Company approves to increase the sum insured amount of this rider, whichever is the latest. In this regard, in case the Company approves to increase the sum insured amount, the Company shall not cover the increasing sum insured amount only.

Coverage agreement for total and permanent disability

This rider does not cover total and permanent disability confirmed by a physician and clearly proven to be occurring within 90 days (waiting period) from the effective date of this rider, or the latest date of reinstatement if this rider has been reinstated, or the date that the Company approves to increase the sum insured amount of this rider, whichever is the latest. In this regard, in case the Company approves to increase the sum insured amount, the Company shall not cover the increasing sum insured amount only.

Warning: Please study coverage details, conditions and exclusions before making a decision to purchase insurance.

Buyers should understand the details, coverage and conditions before deciding to make insurance every time.