New Senior Disease Insurance Plan, Silver Secure, from NTUC Income

NTUC Income has just timely launched a new insur­ance plan, Sil­ver Secure, to provide monthly pay­out till 100 years old when insured is dia­gnosed with any of the 8 defined seni­or dis­eases that are likely to plague the Singa­pore aging pop­u­la­tion in 2030 when we will have 1 in 4 Singa­por­eans aged 65 and above.

Sil­ver Secure is a non-par­ti­cip­at­ing, reg­u­lar premi­um plan that provides monthly pay­out till 100 years old for insured who are 40 to 74 years old and dia­gnosed with seni­or dis­eases. The bene­fits include:-

  • Seni­or Dis­ease Bene­fit – Inter­me­di­ate stage Alzheimer’s dis­ease or demen­tia; Inter­me­di­ate stage Parkinson’s dis­ease; Severe chron­ic obstruct­ive pul­mon­ary dis­ease (COPD); Amyotroph­ic lat­er­al scler­osis; Blind­ness (loss of sight); Kid­ney fail­ure; Major head trauma; Para­lys­is (loss of use of limbs).
  • Sup­port Bene­fit – Upon suc­cess­ful claim of Seni­or Dis­ease Bene­fit, a lump sum amount equal to six time of the monthly bene­fit will be pay­able. This bene­fit can be claimed once only.
  • Premi­um Waiver Bene­fit — Upon suc­cess­ful claim of Seni­or Dis­ease Bene­fit, premi­um will be waived until the policy ends.
  • Spe­cial Bene­fit – Upon dia­gnos­is of the insured with any of the con­di­tions covered under the Spe­cial Bene­fit dur­ing the term of the policy, a lump sum equal to 3 times the monthly bene­fits will be pay­able (cap at $6,000). This bene­fit can be claimed once only.
  • Care Bene­fit – Sil­ver Secure provides insured with care bene­fits through a list of pre­ferred health­care pro­viders such as 10% off Home Care ser­vices from NTUC Health, 12% off Long Term Home Care Pack­ages from Tet­suyu Home­care.
  • Death Bene­fit – 100% of total premi­um will be refun­ded if death occurs with­in one year, oth­er­wise, $10,000 will be pay­able.

Con­di­tions covered under the Spe­cial Bene­fit are:

Move­ment – Osteoarth­rit­is requir­ing sur­gery; Osteo­poros­is with frac­tures requir­ing sur­gery; Rheum­at­oid arth­rit­is with joint deform­ity.

Sens­ory — Age-related mac­u­lar degen­er­a­tion with visu­al impair­ment; Glauc­oma requir­ing sur­gery; Severe pres­by­cus­is (age-related hear­ing loss)

Urin­ary dis­orders – Benign pro­stat­ic hyper­plasia requir­ing sur­gery; Stress urin­ary incon­tin­ence requir­ing sur­gery or pro­ced­ure

Oth­er dis­orders – Varicose veins requir­ing sur­gery; Severe obstruct­ive requir­ing sur­gery; Out­pa­tient psy­chi­at­ric con­di­tion due to loss of spouse or child.

The min­im­um monthly bene­fit is $500, up to $10,000 per life, in mul­tiples of $100.