NTUC Income has launched a Value Pack comprising a low-cost term insurance and Enhanced Incomeshield Plan C specially for the low income group and the uninsured.
The Enhanced Incomeshield Plan C provides as charged (excluding deductibles and co-insurance) coverage at Singapore Restructured Hospitals for ward class B2 & below and is a step-downed version of the lowest plan available now (enhanced basic) which provides coverage for up to B1 wards.
The term insurance (i-Term) is capped at a maximum sum assured of $50,000 per person and has premium rates which are lower than the normal i-Term product.
To qualify to buy the Value Pack, the following criteria will need to be met:
- Those living in three-room or smaller HDB flats
- Those whose household incomes are $3500 or below
- Those who do not have a life insurance policy
The Value Pack has to be bought directly from NTUC Income’s own sales channels (the tied agency force and the business centres) and is not available through other distribution channels like financial advisers.