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GUARDIAN
ANGEL – an
overseas studies insurance package that grants
you a total peace of mind by guarding your child’s well
being, even when you are miles away… Guardian Angel is
drawn up with you and your child in mind, providing
Protection for your
child – 24 hours worldwide cover against
sudden, unforeseen and unexpected events when your child is
studying overseas, when back home during the holidays and
even when traveling during their vacation
Freedom with your money
– with us arranging a banker’s guarantee on your
behalf, you will not need to tie up your cash with the bank,
where you are required to provide a bank guarantee to MINDEF
for your child’s deferment from National Service to
pursue an overseas course…
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| i.
Insurance Coverage for your child |
| Insurance
Benefits at a glance (limits in aggregate per
annum) |
Deluxe
Plan |
Preferred
Plan |
|
1. |
Accidental
Death & Permanent Disablement |
S$100,000 |
S$100,000 |
|
2. |
Evacuation &
Repatriation Expenses – following an accident,
sickness or disease and including repatriation of mortal
remains or burial abroad |
N.A. |
S$10,000 |
|
3. |
Medical Expenses
arising from accidents |
N.A. |
S$10,000 |
|
4. |
Emergency Travel
Expenses – incurred by a next of kin upon
accidental death of the insured person |
N.A. |
S$5,000 |
|
5. |
Compassionate Visit
Expenses – incurred by a next of kin upon
hospitalization of the insured person for more than 10
consecutive days on the written medical advice from a
registered medical practitioner |
N.A. |
S$5,000 |
|
6. |
Personal Liability
(any one accident/period) |
N.A. |
S$150,000 |
| Insurance
Premium (per annum before GST) |
S$150 |
S$290 |
| Optional
Coverage (limits in aggregate per annum) |
|
7. |
Hospital & Surgical
Expenses – Medical expenses incurred for accidents
or sickness subject to an excess of S$250 on each &
every claim |
S$15,000 |
| Additional
Premium (per annum before GST) |
S$375 |
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| ii.
Banker’s Guarantee (to be taken up with
either the Deluxe or Preferred Plan) |
For males who
require to defer their National Service till the completion
of their studies overseas.
* Banker’s Guarantee of S$75,000 is the minimum
guarantee amount, depending on the annual combined family
income. Actual amount required to be advised by MINDEF. |
S$75,000* |
| Premium
& Bank Charges |
To
be advised |
| Please
refer to our office should your client require a Banker’s
Guarantee to be issued. |
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|
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| To
Get An Indicative Quote for Banker's Guarantee |
| The following
documents are required for us to make an initial assessment
of the risk:- |
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Copies of
NRIC, latest Income Tax Assessments &/or IR8A of all
guarantors. All guarantors must be Singapore citizens
and earning above S$36,000 per annum. Where any one parent’s
income is less than S$36,000 per annum, a third party
guarantor has to be furnished. |
| >> |
Approval Letter from Mindef
or Singapore Immigration. |
| >> |
Premium and bank charges
for Banker’s Guarantee will be advised upon receiving
the required documents. Where necessary, Cash Collateral
or additional guarantor requirement may be imposed. |
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|
| To
Apply |
| Subsequent
to the risk being underwritten and a quote furnished,
the following documents are required for application:- |
| Applying
for insurance coverage only |
| >> |
Original copy
of completed proposal form. |
| Additional
Requirements for Banker’s Guarantee Application |
| >> |
Original copy of completed
indemnity form where Banker’s Guarantee is required
(please obtain the indemnity forms from our office). Both
parents, plus third party guarantor(s) if any, must sign
in personal capacities as counter guarantors. Cash collateral,
if applicable, has to be furnished. |
| >> |
Letter of acceptance/admission
from the foreign educational institution. |
| >> |
Original Banker’s
Guarantee Form from Mindef or Singapore Immigration (to
be forwarded to the bank by us for issuance/signature),
if risk is accepted . Bank charge will be confirmed at
this stage base on the issuance date of the Banker’s
Guarantee. |
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Personal
Coverage 
