New savings and protection plans from NTUC Income

NTUC Income has just launched two new insur­ance plans, Term­Life Solit­aire and Lim­ited Premi­um Revosave with bet­ter cov­er­age and lower premi­um, for insured up to 75 years old.

Term Insur­ance

Term­Life Solit­aire is a reg­u­lar premi­um term insur­ance that will cov­er the insured (age 74 last birth date or below) against Death and Ter­min­al Ill­ness for at least $1 mil­lion, up to a max­im­um age of 100 years old. The pro­tec­tion value is con­stant through­out the years of cov­er­age as it is not entitled to any bonus declared by NTUC Income. There is no cash value at any point in time since this is a pure pro­tec­tion plan. For sum assured of $1,500,000 and below, there is no med­ic­al exam­in­a­tion required!

There are 5 riders that can be added to this plan:-

  1. Dis­ab­il­ity Accel­er­at­or – cov­ers Total and Per­man­ent Dis­ab­il­ity (TPD) before age 70 with min­im­um sum assured of $1,000,000.
  2. Dread Dis­ease Accel­er­at­or – cov­ers the 39 dread dis­eases with min­im­um sum assured of $500,000.
  3. Dread Dis­ease Premi­um Waiver – waive future premi­um when poli­cy­hold­er is dia­gnosed with dread dis­ease.
  4. Pay­or Premi­um Waiver – waive future premi­um when poli­cy­hold­er dies or is dia­gnosed with TPD.
  5. Enhanced Pay­or Premi­um Waiver — waive future premi­um when poli­cy­hold­er dies or is dia­gnosed with TPD or crit­ic­al ill­ness.


Lim­ited Pay Revosave

Lim­ited Pay Revosave is a reg­u­lar sav­ings plan that provides a very good altern­at­ive to sav­ings in a bank. Not only it offers bet­ter interest rate, it provides pro­tec­tion against death, Total per­man­ent Dis­ab­il­ity (Lost of sight, two legs etc.) regard­less of your cur­rent health. It is 100% guar­an­tee to be accep­ted. You will be covered for 105% of the premi­um paid through­out the cov­er­age! If it is acci­dent­al death or TPD before age 70, an addi­tion­al 100% of the sum assured on top of the death/TPD bene­fit will be paid out too. You are eli­gible to apply if you are 75 years old and below.

This is how Lim­ited Pay Revosave works.

1) You save a fixed sum of money to NTUC Income for 3,5,10 or 15 years.

2) At the end of second year, NTUC Income will return part of the premi­um back (5% of the sum assured called cash­back) to you. You can choose to a) Spend it. b) Save with us at cur­rent 3.5% per annum interest in depos­it account issued by Income

3) At any point in time, you can with­draw the money from the Depos­it account.

4) The policy will end at the chosen policy term of 10, 15,20 or 25 years. All matur­ity pro­ceeds will be paid out, togeth­er with the cash­back and interest earned in the depos­it account.