NTUC Income Star Assure Review
The complete Pros and Cons on NTUC Income Star Assure
NTUC Income Star Assure is a whole life insurance plan that comes with Advanced Assure Accelerator, a first in Singapore feature. A rider that covers future unknown diseases and serious infections.
NOTE: NTUC Income Star Assure has been phased out and replaced with NTUC Income Star Secure.
NTUC Income Star Assure product details
- Life policy – Whole Life Policy
- Premium Term
- You can choose to pay premiums for 5, 10, 15, 20, 25, or 30 years, up to age 64
- Coverage
- Choose a coverage of 100% up to 500% of Sum Assured against Death, Terminal Illness, and Total and Permanent Disability (TPD up to age 70)
- Double Coverage
- Be covered 200% of Sum Assured against accidental death (up to age 70)
- Retrenchment Benefit
- Pause premium payments for up to 6 months, giving you peace of mind while looking for a new job
- Comprehensive Riders
- Advanced Assure Accelerator (COVID-19 cover)
- Covers you against 39 specified dread diseases and future unknown diseases or serious infections
- Early Assure Accelerator
- Covers you against 121 medical conditions from early to intermediate stage dread diseases
- Hospital CashAid
- Receive hospital cash per day of hospitalisation upon many other benefits
- Advanced Assure Accelerator (COVID-19 cover)
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Features of NTUC Income Star Assure at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: No
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: No (Yes with riders)
Early Critical Illness: No (Yes with riders)
Health and Insurance Coverage Multiplier
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: Yes
Early Critical Illness: Yes
Optional Add-on Riders
- Advanced Assure Accelerator
- Early Assure Accelerator
- Hospital CashAid
- Payor Premium Waiver
- Enhanced Payor Premium Waiver
- Dread Disease Premium Waiver
Additional Features and Benefits
Yes
For further information and details, fill up the form below and let us advise accordingly.
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Policy Illustration for NTUC Income Star Assure, Kim
Kim, age 25, purchases NTUC Income Star Assure with a base Sum Assured of S$60,000, 5X multiplier coverage, and riders to cover himself against Early Critical Illness and Critical Illness. He chooses to pay premiums over 15 years with a yearly premium of S$2,716.
At age 40, with a total of S$40,747.50 paid in premiums, Kim finishes paying premiums and will continue to enjoy coverage for the rest of his life.
At age 70, Kim’s NTUC Income Star Assure multiplier and total and permanent disability coverage end. His coverage amount reverts to the base sum assured of S$60,000 against Death and TI and S$30,000 against Early Critical Illness and Critical Illness.
At age 75, Kim chooses to surrender his policy. He receives S$91,186 consisting of guaranteed cash value and non-guaranteed bonuses to spend as he wishes.
Policy Illustration for NTUC Income Star Assure, Dan
Dan, age 25, purchases NTUC Income Star Assure with a base Sum Assured of S$200,000, 3X multiplier coverage, and riders to cover himself against Early Critical Illness and Critical Illness. He chooses to pay premiums over 15 years with a yearly premium of S$6,788.95
At age 40, with a total of S$101,834.25 paid in premiums, Dan finishes paying premiums and will continue to enjoy coverage for the rest of his life.
At age 70, Dan’s NTUC Income Star Assure multiplier and total and permanent disability coverage end. His coverage amount reverts to the base sum assured of S$200,000 against Death and TI and S$100,000 against Early Critical Illness and Critical Illness.
At age 75, Dan chooses to surrender his policy. He receives S303,953 consisting of guaranteed cash value and non-guaranteed bonuses to spend as he wishes.
Key DIfferences in Kim’s and Dan’s NTUC Income Star Assure Journey
At age 75, Both Dan and Kim surrender their policy with Dan receiving a much higher surrender value. This is because Dan has a higher base sum assured.
Kim with a base sum assured of S$60,000 pays S$1,550.70 yearly in base premiums (S$23,261 total base premium)
Dan with a base sum assured of S$200,000 pays S$4,361.35 yearly in base premiums (S$65,420 total base premium)
Dan pays S$42,159 more than Kim in base premiums to enjoy S$212,767 more than Kim in surrender value
Base premium = basic NTUC Income Star Assure without premiums for the riders included. The premiums of the riders are not taken into consideration because they do not have any skin in the game when it comes to cash accumulation in a whole life policy.
NTUC Income Star Assure may be suitable if you are looking for
NTUC Income Star Assure may potentially be a good fit if the following matters to you:
- Higher protection for Death, Total and Permanent Disability, and Terminal Illness coverage at an affordable premium.
- Higher Early Critical Illness, Critical Illness coverage with riders in an Insurance Policy.
- Health and Protection coverage due to a shortfall in your Insurance Portfolio.
- Accumulating cash value in the policy for financial returns in the long-term.
- Paying premiums only for a limited number of years and enjoying coverage for a lifetime.
- Double the coverage benefit against accidental death
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NTUC Income Star Assure may not be suitable if you are looking for
NTUC Income Star Assure may potentially be a bad fit if the following matters to you:
- Liquidity or flexibility of withdrawal in your Insurance policy.
- Access to cash from your policy on a regular basis.
- Insurance policy with a high surrender value in the early years of the policy.
- Potentially higher financial returns compared to a pure investment product.
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Further considerations on NTUC Income Star Assure
- How is NTUC Income or NTUC Income Star Assure investment returns based on historical performance?
- How does NTUC Income Star Assure compare with Whole Life Policy from other insurance companies?
- Can NTUC Income Star Assure fulfill my financial insurance, health, and protection needs?
The above information may not fully highlight all the product details and features on NTUC Income Star Assure. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Star Assure.
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Compare before you commit
Before committing to a whole life insurance policy, it certainly pays to make an effort to compare. Specific product features, benefits, and payouts will differ more than you think across insurance companies.
Why regret only years later, when you find out that you are not getting the best insurance policy available for the premium paid?
Even worse, to know you can compare whole life insurance plans here, 100% free of charges on the InterestGuru.sg platform.
Is NTUC Income Star Assure suitable for me?
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