Common use of Fund Switching Clause in Contracts

Fund Switching. While the rider is in force, You are entitled to an unlimited time of Portfolio fund switches. Currently, We do not impose any charge for fund switching. Each policyholder is allowed to have 1 Portfolio fund at any time, as such all the units of the Portfolio fund need to be switched out upon fund switching. We reserve the right to revise the charge for fund switching by giving You thirty (30) days’ written notice. If We accept Your fund switching request, We will sell the units in the Portfolio fund that You have instructed Us to switch out from. We will then use the net sale proceeds to buy the units of the Portfolio fund that You have instructed Us to switch into. The fund switching is based on the unit price of the applicable Portfolio fund at the date when the switching is carried out by the Fund manager. Should the fund switch request be received before 3 p.m. (Singapore time), We will use the unit price for the current Valuation day else it will be based on the unit price as at the next Valuation day. Should the Fund manager initiate a change of ILP sub-fund(s), We will perform fund switch on Your behalf to switch out the ILP sub-fund(s) based on the prevailing unit price. We will update You of such change(s) in accordance with applicable laws and regulations by giving You thirty (30) days’ written notice.

Fund Switching. While the rider policy is in force, You are entitled to an unlimited time of Portfolio Packaged fund switches. Currently, We do not impose any charge for fund switchingswitches. Each policyholder is allowed to can only have 1 Portfolio fund at any timePackaged fund, as such all the units of the Portfolio Packaged fund need to be switched out upon such fund switchingswitch request. We reserve the right to revise the charge for fund switching switch charges (if applicable) by giving You thirty (30) days’ written notice. If We accept Your fund switching switch request, We will sell the units in the Portfolio Packaged fund that You have instructed Us to switch out from. We will then use the net sale proceeds to buy the units of the Portfolio another Packaged fund that You have instructed Us to switch into. The fund switching is based on the unit price of the applicable Portfolio Packaged fund as at the date when the switching is carried out by the Fund manager. Should the fund switch request be received before 3 p.m. (Singapore time), We will use the unit price for the current Valuation day else it will be based on the unit price as at the next Valuation day. Should the Fund manager initiate a change of ILP sub-fund(s), We will perform fund switch on Your behalf to switch out the ILP sub-fund(s) based on the prevailing unit price). We will update You of such change(s) in accordance with applicable laws and regulations by giving You thirty (30) days’ written notice.

Fund Switching. While the rider policy is in force, You are entitled to an unlimited time of Portfolio Packaged fund switches. Currently, We do not impose any charge for fund switchingswitches. Each policyholder is allowed to can only have 1 Portfolio fund at any timePackaged fund, as such all the units of the Portfolio Packaged fund need to be switched out upon such fund switchingswitch request. We reserve the right to revise the charge for fund switching switch charges (if applicable) by giving You thirty (30) days’ written notice. If We accept Your fund switching switch request, We will sell the units in the Portfolio Packaged fund that You have instructed Us to switch out from. We will then use the net sale proceeds to buy the units of the Portfolio another Packaged fund that You have instructed Us to switch into. The fund switching is based on the unit price of the applicable Portfolio Packaged fund as at the date when the switching is carried out by the Fund manager. Should the fund switch request be received before 3 12 p.m. (Singapore time), We will use the unit price for the current Valuation day else it will be based on the unit price as at the next Valuation day. Should the Fund manager initiate a change of ILP sub-fund(s), We will perform fund switch on Your behalf to switch out the ILP sub-fund(s) based on the prevailing unit price). We will update You of such change(s) in accordance with applicable laws and regulations by giving You thirty (30) days’ written notice.