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Free NTUC Insurance for Low Income Families
Last week, NTUC Income announced a free insurance scheme that is expected to benefit 13,000 low income families with young children.
Under the Income Family Micro-Insurance Scheme (IFMIS), NTUC will pay out S$5,000 in the event the main caregiver passes away or becomes totally and permanently disabled.
The insurance cover will be automatically extended to active recipients under the applicable ComCare GROW schemes which are administered by the five Community Development Councils (CDCs) and come under the purview of the Ministry of Community Development, Youth and Sports.
While the gesture is good, realistically speaking $5k is not going to be enough other than providing for some short term relief.
For the low income families, buying insurance is usually the last thing on their minds yet this is the group of people that needs it most. Often, they are more concerned about immediate needs like having enough money for their daily expense.
For a list of other schemes for the needy, you can refer to my earlier post on ComCare.