NTUC Income Star Secure Review
The complete Pros and Cons on NTUC Income Star Secure
NTUC Income Star Secure is a whole life insurance plan that comes with Advanced Secure Accelerator, a first in Singapore rider that can be added to cover critical illnesss and future unknown diseases and serious infections.
NOTE: NTUC Income Star Secure has been discontinued and replaced with NTUC Income Star Secure Pro. For further information and details about this plan, fill up the form below and let us advise you accordingly.
NTUC Income Star Secure product details
- Life policy – Whole Life Policy
- Flexible Premium Term
- You can choose to pay premiums for 5, 10, 15, 20, 25, or 30 years, up to age 64
- Insurance Coverage
- Choose a coverage of 100% up to 500% of Sum Assured against Death, Terminal Illness (TI), and Total and Permanent Disability (TPD up to age 70)
- Family Grievance Benefit
- Future premiums are waived and lump-sum benefit of 2X annual premium will be paid out in the event of death, TPD or TI of an immediate family member
- Accidental Death Coverage
- Be covered an additional 200% of Sum Assured against accidental death (up to age 70)
- Retrenchment Benefit
- 6 months of premium payments waived, giving you peace of mind while looking for a new job
- Comprehensive Choice of Riders
- Advanced Secure Accelerator (COVID-19 cover)
- Covers you against 49 specified dread diseases and future unknown diseases or serious infections
- Early Secure Accelerator
- Covers you against 142 medical conditions from early to intermediate stage dread diseases
- Hospital CashAid
- Receive hospital cash per day of hospitalisation upon many other benefits
- Premium Waivers
- Waives premiums for you or your family member in the event of Death, TPD, TI or CI of the premium paying part
- Advanced Secure Accelerator (COVID-19 cover)
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Features of NTUC Income Star Secure 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 Secure Accelerator
- Early Secure Accelerator
- Hospital CashAid
- Payor Premium Waiver
- Enhanced Payor Premium Waiver
- Dread Disease Premium Waiver
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.
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Policy Illustration for NTUC Income Star Secure, Kim
Kim, age 25, purchases NTUC Income Star Secure 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$3,352.
At age 40, with a total of S$50,280 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 Secure multiplier coverage ends. His coverage amount reverts to the base sum assured of S$60,000 against Death, Total and Permanent Disability and Termina Illness, and S$30,000 against Early Critical Illness and Critical Illness.
At age 75, Kim chooses to surrender his policy. He receives S$103,1193 consisting of guaranteed cash value and non-guaranteed bonus.
Policy Illustration for NTUC Income Star Secure, Dan
Dan, age 25, purchases NTUC Income Star Secure 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 Secure multiplier coverage ends. His coverage amount reverts to the base sum assured of S$200,000 against Death, Total and Permanent Disability and Terminal Illness, and S$50,000 against Early Critical Illness and Critical Illness.
At age 75, Dan chooses to surrender his policy. He receives S343,978 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 Secure 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$3,352 yearly in premiums (S$50,280 total premium). At age 75, Kim surrenders his policy and receives a total projected surrender value of $103,193.
Dan with a base sum assured of S$200,000 pays S$6,860.55 yearly in premiums (S$102,908.25 total premium). At age 75, Dan surrenders his policy and receives a total projected surrender value of $343,978.
Dan paid S$52,628.25 more than Kim in premiums to enjoy S$240,785 more than Kim in surrender value at age 75.
NTUC Income Star Secure may be suitable if you are looking for
NTUC Income Star Secure 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 Secure may not be suitable if you are looking for
NTUC Income Star Secure 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 Secure
- How is NTUC Income or NTUC Income Star Secure investment returns based on historical performance?
- How does NTUC Income Star Secure compare with Whole Life Policy from other insurance companies?
- Can NTUC Income Star Secure 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 Secure. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Star Secure.
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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.
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