New Cancer Protect Term Insurance from NTUC Income

Can­cer Pro­tect is a reg­u­lar premi­um non-par­ti­cip­at­ing term insur­ance plan which provides cov­er­age for early stage and advanced stage of major can­cers. It also offers pro­tec­tion against death (non-acci­dent­al) and acci­dent­al death.

Sum Assured is fixed at $50,000, $80,000 and $100,000. The min­im­um entry age is 30 years (last birth­day) and the max­im­um entry age is 64 years (last birth­day).

It is guar­an­teed renew­al every 10 years and the policy can be renewed up till age 84.

Can­cer Pro­tect cov­ers:-

  • Early-stage can­cer – 25% of the sum assured. Only pay once only, even if the policy is renewed.
  • Advanced stage can­cer — 100% of the sum assured if we have already paid a claim on early stage of major can­cers bene­fit. 125% of the sum assured if no early stage can­cer claim.
  • Non-acci­dent­al death — 100% of the total premi­ums paid if death hap­pens with­in one year from the cov­er start date; or $5,000 if death hap­pens after one year from the cov­er start date.
  • Acci­dent­al death
    • Age 69 and below, 100% of sum assured or 30% of sum assured if per­form­ing restric­ted activ­ity at time of acci­dent.
    • Age 70 and above, 100% of the total premi­ums paid if death hap­pens with­in one year from the cov­er start date; or $5,000 if death hap­pens after one year from the cov­er start date.

How­ever, if the cause of acci­dent­al death is excluded, only 100% of the total premi­ums paid if death hap­pens with­in one year from the cov­er start date; or $5,000 if death hap­pens after one year from the cov­er start date. This bene­fit is pay­able only if death hap­pens with­in 365 days of the acci­dent.

You can find the detailed cov­er­age in the Policy Con­di­tion doc­u­ment here at

NTUC Income New Whole-life Comprehensive Critical Illness Vivocare 100

NTUC Income has just launched Vivo­c­are 100. It is a com­pre­hens­ive lim­ited premi­um, whole-life insur­ance cov­er­age against the unex­pec­ted such as death, Total Per­man­ent Dis­ab­il­ity (TPD) and extens­ive range of 100 med­ic­al con­di­tions for Spe­cial, Juven­ile, Early, Inter­me­di­ate and Advanced stages of Dread Dis­eases.

Vivo­c­are  100 cov­ers

  • Death and Ter­min­al Ill­ness – 300% Remain­ing of Sum Assured up till 65 years old, 100% of Remain­ing Sum Assured with bonuses from 65 years old onwards;
  • 32 Early-stage dread dis­eases - 50% of Remain­ing Sum Assured or up to max­im­um $75K. Sub­sequent claim with total claims shall not exceed 50% of the Remain­ing Sum Assured. 7 days sur­viv­al peri­od applies. Whole-life cov­er­age;
  • 28 Inter­me­di­ate-stage dread dis­ease - 100% of remain­ing Sum Assured plus bonuses or up to max­im­um $150K (new dread dis­ease) or the dif­fer­ence for the same early-stage dread dis­ease already claimed with­in the wait­ing peri­od of 6 months. Premi­um and Sum Assured are reduced upon claim. Whole-life cov­er­age;
  • 30 Advanced stages of Dread Dis­eases — 100% of Remain­ing Sum Assured plus bonuses, or the dif­fer­ence for the same early-stage dread dis­ease already claimed with­in the wait­ing peri­od of 6 months. Whole-life cov­er­age;
  • Total Per­man­ent Dis­ab­il­ity — 100% of Remain­ing Sum Assured plus bonuses. Till 65 years old;
  • Spe­cial Dread Dis­eases — Angioplasty, Dia­bet­ic Com­plic­a­tions, Severe Osteo­poros­is, Severe Rheum­at­oid Arth­rit­is, Dengue Hem­or­rhagic Fever, Sys­tem­ic Lupus Eryth­em­atosus, Crohn’s Dis­ease, Ulcer­at­ive Colit­is, Breast Recon­struct­ive Sur­gery and Pheo­chromo­cyt­oma. Till age 85. Extra 20% of Sum Assured giv­en, up to $30K per con­di­tion, up to 5 con­di­tions per policy. 7 days sur­viv­al peri­od applies;
  • Juven­ile Bene­fits – Osteo­gen­es­is Imper­fecta, Severe Hae­mo­phil­ia, Insulin Depend­ent Dia­betes Mel­litus, Kawa­saki Dis­ease, Rheum­at­ic Fever with Valv­u­lar Impair­ment, Type Juven­ile Spin­al Amyotrophy, Wilson’s Dis­ease, Sys­tem­ic Juven­ile Rheum­at­oid Arth­rit­is, Intel­lec­tu­al Impair­ment due to Sick­ness or Injury and Glom­er­uloneph­rit­is with Neph­rot­ic Syn­drome. Till age 18. Extra 30% of Sum Assured giv­en, up to $30K per con­di­tion, up to 5 con­di­tions per policy. 7 days sur­viv­al peri­od applies.

The premi­um option is 15-year, 20-year, 25-year, up to 64 age Last Birth Date (LBD), or 84 age LBD.

Major Revision to NTUC Income’s IncomeShield Hospitalisation Plans

With effect from 1 March 2013, NTUC Income will enhance its exist­ing Hos­pit­al­iz­a­tion Plans

  • IncomeShield MA, MB
  • Stand­ard IncomeShield Plan A, B, C
  • Enhanced IncomeShield Pre­ferred, Advant­age, Basic and C

This is due to the MediShield Reform in March 2013, which affects IncomeShield plans since Medishield is the under­ly­ing plan of all shield plans.

The changes are

  • Improve lim­its for Room & Board, ICU, Sur­gic­al  and Out­pa­tients treat­ment bene­fits for Stand­ard IncomeShield Plans.
    The policy year lim­its for all IncomeShield plans will also be increased as fol­lows:
Plan Cur­rent Lim­it New Lim­it
Pre­ferred $600,000 $700,000
Advant­age $400,000 $500,000
Basic $150,000 $250,000
Enhanced C $100,000 $150,000
Plan P $260,000 $300,000
Plan A $130,000 $200,000
Plan B $100,000 $150,000
Plan C $70,000 $100,000
  • New Organ Donor Trans­plant Bene­fit only for Enhanced IncomeShield Pre­ferred Plan.
  • New Pros­thes­is Bene­fit, range from $3000 to $10,000 annu­ally for all IncomeShield Plans.
  • New Short Stay Ward bene­fit.
  • Extra bed bene­fit under Assist Rider and Plus Rider of $80/day, up to 10 days for insured child aged 18 years or below.
  • Increase of $500 in deduct­ibles in most IncomeShield plans
  • Premi­um rates will also increase for all IncomeShield plans and Assist/Plus riders.
  • All exist­ing IncomeShield MA and MB plans will auto­mat­ic­ally be upgraded to Stand­ard IncomeShield Plan A and Plan B-SG respect­ively, without any under­writ­ing. Good news to those who were unsuc­cess­ful in their upgrade attempt pre­vi­ously.


For more inform­a­tion, askGinny.

MediShield Enhancement from March 2013

With effect from 1 March 2013, the Min­istry of Health (MOH) will make the fol­low­ing changes to the cur­rent MediShield Plan more com­pre­hens­ive.

a) Remove the max­im­um entry age of 75 years old. This will help the healthy unin­sured eld­erly to apply for MediShield

b) Increase the max­im­um cov­er­age age from 85 to 90 years old.

c) Increase the Medis­ave with­draw­al lim­its for MediShield and Integ­rated Shield Plans premi­ums from $800 to $1,000 for those aged 76 to 80 and from $1,150 to $1,200 for those above age 80.

d) Increase the deduct­ible for B2 ward from $1500 to $2000 and C ward from $1000 to $1500.

e) Extend cov­er­age to include short-stay wards in Emer­gency Depart­ments.

f) Extend cov­er­age to inpa­tient psy­chi­at­ric treat­ment at $100 per day up to 35 days per year.

g) Increase the policy year lim­it from $50,000 to $70,000 and life­time lim­it from $200,000 to $300,000.

With the above enhance­ments, the annu­al premi­um will increase too. The private Medis­ave-Approved Integ­rated Shield Plans from AIA, Aviva, Great East­ern, NTUC Income and Pruden­tial will also increase their annu­al premi­ums too, as MediShield is the under­ly­ing integ­rated basic plan. For those aged 65 and below, the annu­al premi­um increase will be up to $120, and for those above 65 years old will face increase of up to $252 annu­ally. To min­im­ise the fin­an­cial premi­um impact of this increase in 2013, the Gov­ern­ment will provide one-off top-up to the MediS­ave Account, which ranges from $50 to $400. For those who are 66 years old and above, they will enjoy addi­tion­al Medis­ave top-up of $250-$450 under the Annu­al GST Vouch­er pro­gram.

Source :

Medishield coverage to improve, premium to increase too

Min­istry of Health has just announced that the MediShield Cov­eage will be revamped by the first quarter of 2013, mak­ing the cov­er­age bet­ter, but with high­er premi­um and high­er med­ic­al fee one has to bear first before claim­able from the MediShield scheme.

The main enhance­ments are

1) Annu­al lim­it to increase to $70,000 from $50,000.
2) Life­time lim­it to increase to $300,000 from $200,000.
3) Cov­er­age age up to 90 years old, pre­vi­ously was 85 years old.
4) Include new cov­er­age on psy­chi­at­ric treat­ment up to $100 a day, for up to 35 days yearly.
5) Include short stay wards in emer­gency depart­ment.

Cost issues includes

1) Premi­um increase range from $17 to $251 per year.
2) Deduct­ible (pay­ment by patient before MediShield kicks in) for the insured up to 80 years old  to increase to $1500 from $1000 for C Class Ward, and to increase to $2000 from $1500 for B2 Class Ward.

The gov­ern­ment is also con­sid­er­ing to include treament for con­gen­it­al prob­lem and neonat­al care, sub­ject to the out­come from the pub­lic con­sulta­tion.

For those who are on private Medis­ave-approved Integ­rated Shield plan, you can expect your premi­um to be increased too next year, since the under­ly­ing basic plan is the MediShield plan.

Community Health Assist Scheme — a subsidized GP and Dental Care at your neighbourhood

From 15 Janu­ary 2012, Min­istry of Health (MOH) star­ted the Com­munity Health Assist Scheme (CHAS)  so that needy patients can receive sub­sid­ised treat­ment at Gen­er­al Prac­ti­tion­ers (GPs) and dent­al clin­ics near their homes.

Clin­ics registered under the scheme have partnered with MOH to provide com­mon out­pa­tient med­ic­al treat­ments and basic dent­al ser­vices for this group of patients. The scheme will also cov­er treat­ment for the 10 chron­ic dis­eases cur­rently covered under the Chron­ic Dis­ease Man­age­ment Pro­gramme. The 10 dis­eases are Dia­betes Mel­litus (DM), Hyper­ten­sion (High blood pres­sure), Lip­id Dis­orders (e.g. High cho­les­ter­ol), stroke, asthma, COPD, schizo­phrenia, major depres­sion, demen­tia and bipolar dis­order.

The qual­i­fy­ing cri­ter­i­as are for

1) Singa­por­ean who are 40 years old and above, and the per cap­ita monthly house­hold income is $1500 and below; OR

2) Singa­por­ean who is dis­abled i.e. unable to per­form at least one of the 6 activ­it­ies of daily liv­ing (ADLs) such as washing/bathing; feed­ing; toi­let­ing; trans­fer­ring; dress­ing; and mobil­ity and with a per cap­ita monthly house­hold income of $1500 and below; OR

3) Singa­por­ean who is on the Pub­lic Assist­ance Scheme.

Per cap­ita monthly house­hold income is derived by tak­ing the total house­hold income divided by the num­ber of per­sons in the house­hold.

You can obtain the applic­a­tion form at any Restruc­tured Hos­pit­al, Poly­clin­ic, Com­munity Centre and Club (CC) or Com­munity Devel­op­ment Coun­cil (CDC).

Source :

How much Life Insurance is needed for Critical Illness, Death and Total Permanent Disability?

This is Part 2 of the art­icle on $0 Med­ic­al Insur­ance: is it pos­sible?. In Part 1 of the art­icle, I recom­men­ded that one should pur­chase as-charged integ­rated shield plan (ISP) offered by insur­ance com­pan­ies and the riders for the ISP so as to cov­er all med­ic­al expenses required for treat­ments in hos­pit­al, effect­ively cut­ting it down to $0.

This art­icle revis­its the top­ic on life insur­ance but in great­er depth. The sum assured for life insur­ance and estim­ated premi­um required for the cov­er­age; early-stage crit­ic­al ill­ness plan and how it com­pares to the tra­di­tion­al advanced-stage crit­ic­al ill­ness plan are cla­ri­fied in this art­icle.

Con­tin­ue read­ing

CPF Medisave Required Amount and latest CPF Interest Rate

For those who are turn­ing 55 years old on 1 Jan 2012, take note that the CPF Medis­ave Required Amount (MRA) is now raised from $27,500 to $32,000 now. This means that you will need to top-up the MRA amount of $32,000 before you are allowed to with­draw the excess of your CPF Min­im­um Sum, which is $131,000 this year.

The interest rate for Spe­cial and Medis­ave Account (SMA) from 1 Jan 2012 to 31 March 2012 con­tin­ues to enjoy the floor rate of 4% p.a.. Sav­ings in the SMA cur­rently earn either 4% or the 12-month aver­age yield of 10-year Singa­pore Gov­ern­ment Secur­it­ies (10YSGS) plus 1%, whichever is the high­er. The aver­age yield of the 10YSGS plus 1%, from 1 Decem­ber 2010 to 30 Novem­ber 2011, works out to be 3.19%. Since 3.19% is lower than the floor rate, 4% p.a. interest rate applies.

Retire­ment Account (RA) con­tin­ues to enjoy 4% p.a from 1 Jan 2012 to 31 Dec 2012. RA sav­ings are inves­ted in SSGS which earn a fixed coupon equal to either the 12-month aver­age yield of the 10YSGS plus 1% at the point of issu­ance, or 4%, whichever is the high­er, adjus­ted yearly. Again, the floor rate of 4% applies to RA.

The floor rate of 4% p.a. for Spe­cial Account, Medis­ave Account and Retire­ment Account is val­id till 31 Dec 2012.

An addi­tion­al 1% interest will con­tin­ue to be paid on the first $60,000 of CPF member’s com­bined bal­ances, with up to $20,000 from the Ordin­ary Account (OA).

Changes in CPF Act

The Straits Times, dated 22 Novem­ber 2011, just pub­lished the fol­low­ing 3 changes to the CPF Act.

CPF Top-up
Pre­vi­ously, CPF mem­bers could only con­trib­ute to their own accounts or those of fam­ily mem­bers. Employ­ers could also con­trib­ute to the accounts of employ­ees. Now, vol­un­tary con­tri­bu­tions to a member’s account can be made by any per­son, com­pany or asso­ci­ation.

Reversal of CPF SA Trans­fer
Pre­vi­ously, once the CPF OA money is trans­ferred to CPF SA account, it is irre­vers­ible. Now, they can be reversed under spe­cial cir­cum­stances. For instance, a CPF mem­ber who suf­fers unfore­seen fin­an­cial hard­ship after the trans­fer may need the trans­ferred sav­ings to ser­vice his hous­ing instal­ments. The amend­ment allows CPFB to make excep­tions and allows trans­fers to be reversed in such cases.

Port­ab­il­ity of Home Pro­tec­tion Scheme (HPS)
Pre­vi­ously, HPS is not port­able. That is to say, if a CPF mem­ber sells away cur­rent HDB flat and buy a new flat, the old HPS will be ter­min­ated. CPF mem­ber will then need to apply for new HPS cov­er, sub­ject to health under­writ­ing. This is not desir­able as member’s health con­di­tion may not be good then. Now, CPFB is able to waive the require­ment of good health for mem­bers who were insured under HPS for their pre­vi­ous flat.