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NTUC Income Life Insurance

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Life Insurance/NTUC Income Life Insurance
Life Insurance/NTUC Income Life Insurance

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Reviews (5)

4.8

5 Reviews

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  • Updated on 20 Aug 2020
    Bought a very low premium Life Insurance during NS time more then 30 yrs back, premium is $40 per month and no change until now, keep it as a source of emergency fund and surrender it when necessary. Took policy loan a few times and the interest is very high at 5%.
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  • Updated on 04 Jul 2020
    [Bought Young] I bought a NTUC Pioneer plan when I was in National Service. Its low cost of $32.50 has helped me keep it all these years. Although it requires me to pay for 30 years, it will grant me about $22k upon maturity of the policy, so I feel that the money will come in just in time for my child's educational fees. [Life Insurance] I also have another RevoSave policy, which suits my needs because it sends me a cheque of $2400 every January. Although this means that the amount I get back upon the maturity of the policy will be less, I really appreciate how this $2400 helps me to tide over some challenging months riddled with expenses! [Bonus rates] Both my Pioneer and RevoSave plans are 1.3% of sum assured compounded at 1.3%. It has stayed constant from 2016-2019.
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  • Updated on 24 Jun 2020
    NTUC life insurance was bought for me since young and from my parents opinions on this life insurance plan, I would say the agent is very clear to them when it was bought and it's worth it.
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  • Updated on 20 Jun 2020
    I had bought NTUC Vivolife 180 (whole life insurance) many years ago. Recently I to revisit my policy due to retrenchment, so I am basing my review base on this. [Customer Service] NTUC Income provided great customer service - due to the pandemic, they offered a 6 months deferment of my policy premium due to retrenchment. The application for deferment was easy, I only had to send 1 email with supporting documents and it was smoothly done. They sent me an email afterwards to confirm my successful premium deferment. [Terms & Conditions] While I was reviewing my policy, I realised that there is a newer option to add an Early Critical Illness Rider to my Vivolife 180 and I jumped at the chance, given that it is really pricey to purchase standalone ECI policies. However my agent informed me that I can no longer make amendments to my policy. For all those looking to buy a new life insurance policy, do consider adding an ECI rider! You will have to pay a bigger price purchasing a standalone ECI policy!!
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  • Updated on 07 Jan 2020
    NTUC Income's insurance plans have generally good features. My agent was really clear in the way he explained & knowledgeable too.
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About NTUC Income

NTUC Income is the only insurance co-operative in Singapore. Established in 1970 to make essential insurance accessible to all Singaporeans, NTU Income is now the leading composite insurer in Singapore offering life, health and general insurance. As a social enterprise, NTUC Income has also pushed out initiatives such as Income Family Micro-Insurance and Savings Scheme, Special Care, Orange Aid and more.

About NTUC's Products

Do note that for the DIRECT products, it can only be purchased at online portal or at Income Branches and it is not available for sale through other distribution channels.

Term Life Investment Plans

1.       DIRECT – Term Life

Eligibility: Between 18 and 64 years of Age

Term Period: 5 years, 20 years, Up to 64 years of age

Sum Assured: S$50,000 – S$400,000

Rider: DIRECT – Dread Disease Rider for Term

 

2.       Family Protect

Eligibility: Between 18 and 64 years of Age

Term Period: 10 years

Sum Assured: S$50,000 or S$100,000

Benefits enjoyed:

-          Dependent Booster Benefit – Up to additional 100% of sum assured

-          Retrenchment Benefit – Monthly payout of up to S$1,000 for up to 3 months

-          Cashback Benefit – Refund of 20% of all net premiums paid

-          Extended Grace Benefit – Policy can be renewed to a maximum coverage of 74 years of age)

 

3.       iTerm

Eligibility: Under 79 years of age

Term Period: 5, 10, 15, 20, 25, 30, 35 years, Up to 54,64,74 years of age

-          Guaranteed renewal of maximum coverage of up to age of 84

Riders: Dread Disease Premium Waiver, Payor Premium Waiver, Enhanced Payor Premium Waiver, Essential Protect, Total Protect

 

4.       HomeTeamNS Insurance Scheme and HomeTeamNS Living Policy

If you are a HomeTeamNS member, you can consider this plan, for yourself, your spouse and children, provided that they are a Singaporean, Singaporean Permanent Resident or foreigner who is working or residing in Singapore. 

Sum Assured for HomeTeamNS Living Policy: In multiples of S$10,000, up to S$150,000

Sum Assured for HomeTeamNS Insurance Scheme: In multiples of S$10,000, up to S$300,000

-          HomeTeamNS Insurance Scheme offers additional payouts in the event of death due to accident and permanent and total disablement

-          HomeTeamNS Living Policy protects you from 30 critical illness and Daily Hospital Benefit of up to S$150 per day.

 

5.       Lady 360

Shout out to all the ladies! We have not forgotten you.

Eligibility: 15 to 59 years of age

Sum Assured: Up to $10,000, depending on severity

Term period: 10-year renewable term or Coverage up to age of 64

Benefits include:

-          Waiver of premium for the next 24 months upon diagnosis of a specific female illness

-          Biennial health screening benefit

-          Exclusive curated treats for women

 

6.       LUV

All those NTUC members, Raise your hands up! You can consider this plan, for yourself, your spouse and children, provided that they are a Singaporean, Singaporean Permanent Resident or foreigner who is working or residing in Singapore. 

Sum Assured:

-          Plan 1 – S$10,000

-          Plan 2 – S$50,000

-          Plan 3 – S$100,000

-          Plan 4 – S$150,000

-          Plan 5 – S$200,000

You can choose between the Basic cover for protection against death, total and permanent disability (TPD before the age of 65) and Deluxe cover which offers additional coverage against 30 critical illnesses. Additionally, you can enjoy the following benefits:

-          Loyalty Discounts of up to 10% on your premiums after 3 years

-          Additional payouts of 1% of the sum assured in the event of total and permanent disability

-          In the event of hospitalisation, receive cash benefits of up to S$100 for up to 365 days

7.       Maternity 360

Are you a first-born mum or mum-to-be? By paying out a single premium of S$390.55, you can get this 360 degree protection plan for you and your baby.

Sum Assured: S$5,000

Term Period: 3 years

Benefits include:

-          Pregnancy complications benefits

-          Congenital illnesses benefit

-          Hospital Care benefits

-          Outpatient Phototherapy benefits

-          Dead Benefits

-          Exclusive Maternity 360 treats for you and your baby

 

8.       Plus! Protect

If you are one of those people with many different cards in your wallet, if one of them is OCBC Plus! Or NTUC Plus! Visa credit- or debit- card, you are in luck. You can consider this plan, for yourself, your spouse and children, provided that they are a Singaporean, Singaporean Permanent Resident or foreigner who is working or residing in Singapore. 

Eligibility: Cardholder to be between 16 to 60 years of age

Sum Assured: Multiples of $10,000, up to $300,000 each insured person

-          Upgrade your plan from Plus! Protect Classic to Plus! Protect Premium to enhance your protection against 29 critical illness

-          In an event of

o   Diagnosis of terminal illness: Receive sum assured

o   Death due to accident: Receive two times the sum assured

9.       SAFRA Essential Term and SAFRA Living Care

Don’t think that being a SAFRA member only gives you discounts on chalets and activities, you can also get an insurance too! You can consider this plan, for yourself, your spouse and children, provided that they are a Singaporean, Singaporean Permanent Resident or foreigner who is working or residing in Singapore. 

Eligibility:

SAFRA Essential Term: Between 16 to 60 years of age

SAFRA Living Care: Between 16 to 55 years of age

Sum Assured:

SAFRA Essential Term: Multiples of S$10,000, up to S$200,000 (up to age of 65) / S$100,000 (age 66 -70) per insured person

SAFRA Living Care: Multiples of S$10,000, up to S$200,000 (up to age of 65) / S$100,000 (age 66 -70) per insured person

-          SAFRA Essential Term offers Partial and Permanent Disability benefit and an additional 25% payout of the sum assured in an event of Death due to an accident

-          SAFRA Living Care extends coverage to protect you from 37 critical illness and Hospital Cash Benefit of up to S$200, for just $2 per month.

 

10.   Silver Protect

Eligibility: 50 to 74 years of age (Last Birthday)

Benefits offered:

-          Early stage and advanced stage coverage of up to 125% sum assured

-          Premiums waived upon advanced stage cancer

-          Guaranteed renewal of coverage every 10 years until a maximum age of 84

-          Additional Benefits which includes accidental fractures and cancer hospice care

-          In the case of accidental death, up to 100% of sum assured

-          Exclusive treats for policyholder

11.   Silver Secure

Eligibility: 40 to 74 years of age (Last Birthday)

Upon diagnosis of a specified senior disease, you can

-          Receive chosen monthly benefit till the age of 100

-          Obtain a Support benefit 6 times of the monthly benefit to cover medical expenses

-          Special Benefit 3 times of your chosen monthly benefit (up to S$6,000)

-          Premium waiver benefit until end of policy term

-          Care benefits

-          Enjoy discounted heathcare services and expenses

In an event of death, you can receive up to S$10,000.

 

12.   Termlife Solitaire

Riders: Disability Accelerator, Dread Disease Accelerator, Dread Disease Premium Waiver, Payor Premium Waiver, Enhanced Payor Premium Waiver, Total Protect

-          Guaranteed renewal to extend your policy coverage to a maximum age of 100 years old.

 

13.   Corporatized Entities Group Insurance Scheme

Sum Assured: Multiples of S$10,000, up to a maximum of S$300,000 for CEIGS Term Life Coverage each

Rider: Critical Illnesses Coverage for 37 Critical Illness

-          In the event of death, you will receive the sum assured. If the death is due to an accident, you will receive an additional 25% of sum assured.

-          In the event of Total and Permanent Disability, you can receive the sum assured with an additional 1% of the sum assured in equal monthly payouts for the next 24 months or until you reach the age of 65 or upon death, whichever is earliest.

 

14.   Dependants’ Protection Scheme

Eligibility: All Singapore Citizens and Permanent Resident CPF members who are aged 16 to 59 years old in good health

Sum Assured: Maximum amount of S$46,000

CPF members who are Singapore Citizens or Permanent Residents, between the age of 21 and 60, are automatically extended with a DPS cover when they make their first CPF working contribution.

Whole Life Insurance Plans

1.       VivoLife

There are 3 levels of protections to choose from: VivoLife 125, VivoLife 180 and VivoLife 350.

Death and Terminal Illness Before 70 years of age: Higher of the sum assured plus bonuses or 125% / 180% / 350% of the sum assured

Death and Terminal Illness After 70 years of age: Sum Assured plus bonuses

-          Has Accidental Death Coverage within the term period

Riders: Early Protect Accelerator, Early Cancer Waiver, Dread Disease Premium Waiver, Payor Premium Waiver, Enhanced Payor Premium Waiver

 

2.       VivoAssure

There are 5 levels of protections to choose from, with minimum protection values being 100%, 200%, 300%, 400% and 500% of the sum assured before the anniversary immediately after the insured reaches the age of 70.

Riders: Advanced Assure Accelerator, Early Assure Accelerator, Early Cancer Waiver, Dread Disease Premium Waiver, Payor Premium Waiver, Enhanced Payor Premium Waiver

3.       Vivolegacy Solitaire

Eligibility: Insured Person – Under 75 years of age; Policyholder – At least 10 years of age

Death and Terminal Illness Before Age of 80: Higher of sum assured plus bonuses or the minimum protection value

Death and Terminal Illness After Age of 80: Higher of sum assured plus bonuses

Accidental Death before Age of 70: Addition 25% of the minimum protection value (Due to Accident); Additional 15% of minimum protection value on top of death benefit

-          Immediate and guaranteed cash value of 80%of single premium from the day your policy starts

-          Access to Income’s Solitaire Club – an exclusive rewards programme to enjoy a range of privileges curated for you

Rider: Disability Protection Accelerator

 

4.       Protection Plan

-          Enjoy lifetime protection against death and total and permanent disability (TPD before age 70)

-          Choice of paying your premiums over 20 years, up to age 64 (last birthday), or up to age 84 (last birthday), depending on your entry age.

Riders: Early Cancer Waiver, Dread Disease Premium Waiver, Payor Premium Waiver, Enhanced Payor Premium Waiver

 

5.       Senior Plan

Eligibility: Between 49 and 69 years of age, regardless of pre-existing health condition

Premium Payment Term: 10 years

Coverage amount for death or total and permanent disability (TPD) depends on occurrence of event:

-          During First year: 20% of sum assured

-          During Second Year: 40% of sum assured

-          During Third Year: 60% of sum assured, 100% of bonuses

-          During Fourth Year: 80% of sum assured, 100% of bonuses

-          During and After Fifth Year: 100% of sum assured, 100% of bonuses

 

6.       DIRECT – Whole Life

Eligibility: 18 to 59/64 years of age

Premium Payment Terms: Until 69/84 years of Age

Rider: DIRECT – Dread Disease Rider for Whole Life