NTUC Income Insurance Singapore– All You Need To Know About The Company And The Policies They Offer In Singapore
It’s difficult to fathom the need to purchase insurance when you’re young and naive, believing that everything would work out somehow. However, organizing your insurance portfolio is arguably one of the most beneficial things you could do for your finances. Here is a comprehensive guide to one of the top insurance companies in Singapore, NTUC Income (or Income), to help you make sense of the policies they offer and why you should consider them.
NTUC Income Insurance Singapore
NTUC Income is no stranger in the insurance sector in Singapore, and it offers coverage beyond supermarkets to includes health, general, and life insurances. In 2017 the company was named the top insurance company in Singapore. NTUC Income was founded in 1970 to provide employees in Singapore with affordable coverage in Singapore’s evolving insurance landscape. When making the most crucial financial decisions, two million people in the country rely on NTUC for insurance guidance and solutions.
Policies Income Offers
The company offers different forms of insurance, including life insurance, health and personal accident insurance, car insurance, home insurance, commercial insurance, business insurance, golfer’s insurance, and group insurance for schools & MOE personnel.
This insurance plan protects your home and family against unforeseen events such as theft, fire, floods, and any other damage. It covers building protection, facelifts, and contents with additional benefits such as worldwide liability and personal accident cover. The plan is among the most flexible home insurance in Singapore, and you can decide the coverage amount you prefer for your home at no additional costs. Most importantly, you get to enjoy a 15% discount when you pick this policy.
The company offers a comprehensive car insurance plan called Drivo in three tiers, Classic, Prestige, and Premium. The policy covers damage or loss of a car from accidents and can cover up to the vehicle’s market value during damage or loss. Similarly, the insurance covers third-party property, towing service, damage to third-party property, and choice of the workshop for authorized workshops. With NTUC car insurance, you can pick other add-ons such as an excess waiver, NCD protector, motor insurance rider extension, and daily transport allowance. You also get to enjoy a 5% loyalty discount and unlimited windscreen cover. Income’s car insurance is among the top car insurance in Singapore with exceptional roadside assistance. Orange Force riders can immediately arrive at the accident scene to offer the necessary help.
Domestic Helper Insurance
You can secure your nanny/maid’s wellbeing with the Income’s domestic helper insurance. The policy offers comprehensive coverage to ensure the helper is taken care of, and you can choose add-ons for your needs. The plan provides pre-and post-hospitalization to up to 90 days of treatment for the helper. Other benefits include the Ministry of Manpower security bond protector, which you can add to your main plan that limits your liability of $5,000 under the MOM security bond to MOM.
With Income’s health insurance and personal accidents plan, you get cover for hospitalization and inpatient treatment expenses as a result of injuries, illnesses, and other medical conditions. Equally, the plan covers pre-and post-hospitalization expenses for chronic outpatient treatments. However, in total or permanent disability and death, the plan doesn’t offer a lump sum pay-out. On the other hand, the personal accidents plan covers medical expenses and hospitalization due to accidents. You can choose an additional cover for various infectious diseases, and there is a lump sum payment in case of accidental death or disability.
If you plan to go on a business trip or vacation, Income’s travel insurance is among travelers’ best travel insurance plans. It will offer expensive coverage so your family can enjoy travel without concerns. The company offers a wide range of policies catering to family needs. You can pick from the Classic, Deluxe, and Preferred plans or consider the 3 Enhanced PreX plans. On top of your coverage, the plans offer coverage for pre-existing plans. The plan covers travel delay, medical expenses, trip disruption coverage, trip cancellation, and personal belongings and money loss.
With Income’s life insurance policy, you get whole life and term life insurances. Whole life insurance will cover your whole life until you are 100, but premiums are usually higher. Laos, the plans build up money value that could be used in supplementing retirement years. With the Term Life Insurance, protection is for fixed periods, and premiums are low, but they can increase once you renew your plan. There is no cash value for the plan.
Personal Accident Insurance
PA Assurance covers the hefty costs you will incur in the event of an accident anywhere globally. You can cover yourself against 21 infectious diseases, including Zika Virus. The plan also covers medical expenses, and you can receive up to $20,000 for medical expenses following an accident and a pay-out of $1.5 million for permanent disability because of an accident. Also, the plan includes physiotherapy and homed modification costs due to an accident and a child support fund of up to $35,000 if you because of an accident to help support your child’s education needs besides other insurance plans for children.
You can enjoy playing golf while NTUC’s golfer’s insurance protects you and your equipment. The plan offers protection against damaged/lost golfing equipment, injuries, and public liability because of injury during a game. Equally, HomeTeamNS members can enjoy enhanced coverage at lower premiums. Also, you get to enjoy up to $500 on food and drinks within 48 hours of a hole-in-one achievement. The plan covers up to $1,000 in medical expenses incurred because of an accident.