NTUC Income Dependants’ Protection Scheme Review

NTUC Income Dependants’ Protection Scheme product details

• Non-participating policy – Term policy
• Affordable term-life insurance that automatically covers all CPF members who are Singapore Citizens or Permanent Residents between the age of 21 and 60
• Pays the sum assured, in the event of death, terminal illness or total permanent disability
• Premiums can be paid using your CPF Ordinary and/or Special Account. As long as you have sufficient funds in your CPF accounts, no out-of-pocket cash is required
• Policy is automatically renewed every year

Read About: Term Policy: How does it work?

Read About: 3 things to consider before taking up a new financial product

Features of NTUC Income Dependants’ Protection Scheme at a glance

Cash and Cash Withdrawal Benefits

Cash value: No
Cash withdrawal benefits: No

Health and Insurance Coverage

Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: No
Early Critical Illness: No

Health and Insurance Coverage Multiplier

Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Optional Add-on Riders

NA

Additional Features and Benefits

Yes.

For further information and details, refer to NTUC Income website. Alternatively, fill up the form below and let us advise accordingly.

Read also: No budget for financial planning?

NTUC Income Dependants’ Protection Scheme may be suitable if you are looking for

NTUC Income Dependants’ Protection Scheme may potentially be a good fit if the following matters to you:

• High Health and Protection coverage
• High insurance coverage for Death or Terminal Illness
• High insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
• Lower initial premium compared to other types of insurance policies
• Looking to boost insurance coverage or fill shortfall in insurance portfolio

NTUC Income Dependants’ Protection Scheme may not be suitable if you are looking for

NTUC Income Dependants’ Protection Scheme may potentially be a bad fit if the following matters to you:

• Long-term cash accumulation
• Regular cash payout
• A one-time premium commitment with no further cash commitment
• Insurance policy with a surrender value.

Further considerations on NTUC Income Dependants’ Protection Scheme

• How is NTUC Income or NTUC Income Dependants’ Protection Scheme payout and claims based on past track record?
• How does NTUC Income Dependants’ Protection Scheme compare with Term policy from other insurance companies?
• Can NTUC Income Dependants’ Protection Scheme fulfil my financial, insurance, health and protection needs?

The above information may not fully highlight all the product details and features on NTUC Income Dependants’ Protection Scheme. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Dependants’ Protection Scheme.

Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.

Is NTUC Income Dependants’ Protection Scheme suitable for me?

Contact InterestGuru using the form below. Our panel of licensed financial advisers will advise accordingly, based on your financial profile and protection needs.

All financial reviews and proposals provided are 100% free of charge. There will be no obligation to take up any proposed financial products or services in any way.

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Before you go...

NTUC Income Dependants’ Protection Scheme may be a good fit towards your current financial goals. However, there could be way more plans out there with features and/ or benefits that could be more relevant to you at a lower cost.

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