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NTUC Income Star Secure Pro Whole Life Plan Review

NTUC Income Star Secure Pro Whole Life Plan Review

Last Updated on by Tree of Wealth

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Star Secure Pro offers the level of protection you desire. You have the option to select coverage up to 500% of the sum assured until the age of 75 or 80, covering death, terminal illness, and total and permanent disability. In the unfortunate event that something happens to your family member, not only will your premiums be waived, but you will also receive a payout to help you navigate through difficult times.

To enhance your coverage and experience true peace of mind, you can add riders to your policy. The Advanced Life Accelerator rider includes the Major Impact Benefit, which protects you against future unknown diseases. Additionally, the Early Life Accelerator rider’s Special Therapy Benefit is the first of its kind in Singapore, providing extra coverage for cell, tissue, and gene therapy in the event of a catastrophic cancer. Together, these riders cover early, intermediate, and advanced stage dread diseases, increasing your total coverage to 152 conditions.

 Lets read on and find out the features of the new whole life insurance plan from NTUC Income

NTUC Income Star Secure Product Features and Benefits

Multiplier To Up 500% (5 Times)

Star Secure Pro offers comprehensive protection against death, terminal illness (TI), and total and permanent disability (TPD). With this plan, you have the freedom to customize your protection level according to your specific requirements. You can opt to increase your coverage by up to 500% of your sum assured until the age of 75 or 80. Option to choose not to apply multiplier is advantageous if you would like to keep your coverage amount/ cash value constant.

Event Coverage before the anniversary immediately after the insured reaches age of 75/ 80
  • Death
  • Total and Permanent Disability
  • Terminal Illness
Higher of sum assured plus bonuses or Minimum Protection Value
100% of sum assured 200% of sum assured 300% of sum assured 400% of sum assured 500% of  sum assured
Event Coverage on or after the anniversary immediately after the insured reaches age of 75/ 80
  • Death
  • Total and Permanent Disability
  • Terminal Illness
 

Sum assured plus bonuses (The bonus rates are subject to change and not guaranteed. The benefits you receive will depend on the future performance of the Life Participating Fund.)

Source: Income

Enhanced Coverage for Accidental Incidents

Ensure added protection for your loved ones by securing additional coverage of up to 30% of your sum assured in the event of accidental death (prior to the anniversary immediately after reaching the age of 70).

Family Waiver Benefit (Under main plan as a feature, not additional optional rider)

Remaining premiums will be waived together with a lump sum payout (equivalent to premiums of 24 months of basic plan and it’s attached riders) in the event of death, terminal illness and total permanent disability (TPD) of life insured’s family member.

As the challenges that individuals face when confronted with the death, terminal illness diagnosis, or total and permanent disability of a family member are tremendous, through the Family Waiver Benefit, the aim is to alleviate the affected individuals’ financial concerns, allowing them to prioritize what truly matters during such difficult times.

Income Star Secure Pro - Reduce your financial burdens should the unfortunate happen to your

source: Income

Coverage for your spouse, your future premiums for your basic policy and riders will be waived Coverage for either one of the child’s parents, future premiums for the child’s basic policy and riders will be waived
+ A lump sum of 24 months’ premium based on the basic policy and any rider (s) attached will also be paid

Source: Income

Retrenchment Premium Waiver Benefit

The insurance provider recognizes the significance of maintaining coverage and offers a Retrenchment Benefit to support policyholders. In the event of an individual experiencing retrenchment and remaining unemployed for three consecutive months, they are granted a premium payment exemption for up to six months. During this period, the individual’s coverage remains unchanged, providing them with peace of mind as they actively search for new employment opportunities.

Premium term

You now have the option to select from a variety of premium terms tailored to your lifestyle and financial capacity.

Depending on your preferences, you can choose to pay your premiums for 5, 10, 15, 20, 25, or 30 years. Alternatively, you may decide to extend your premium payments until the age of 64.

Advanced Life Accelerator rider (Optional)

By adding the Advanced Life Accelerator rider to your policy, you can enhance your coverage and protect yourself against 56 specified dread diseases. This rider not only provides comprehensive coverage but also offers protection against future unknown diseases through its Major Impact Benefit.

Coverage for specified dread diseases

Event

Coverage before the anniversary immediately after the insured

reaches age of 75 or age of 80

Diagnosis of specified

dread disease

Higher of sum assured plus bonuses or Minimum Protection Value
100% of sum assured 200% of sum assured 300% of sum assured 400% of sum assured 500% of  sum assured

Coverage on or after the anniversary immediately after the

insured reaches age of 75 or age of 80

Rider’s sum assured plus pro-rated bonuses of the basic policy

Dread Disease – Any payment made under this rider will be considered an accelerated payment, resulting in a reduction of the sum assured and any bonuses associated with this rider, its underlying policy, and any other accelerated riders by the same amount as the payment. In the event that the insured is diagnosed with a dread disease within 90 days from the cover start date for major cancer, heart attack of specified severity, coronary artery bypass surgery, angioplasty, or other invasive treatments for coronary artery or serious coronary artery disease, the dread disease benefit will not be paid. For angioplasty and other invasive treatments for coronary artery, we will provide the higher of 10% of the sum assured of this rider and the corresponding pro-rated bonuses of the underlying policy, or 10% of the rider’s minimum protection value (if applicable), up to a maximum of S$25,000 (excluding bonuses). For further details, please refer to the policy conditions.

Pro-rated Bonuses – The bonus rates provided are subject to change and are not guaranteed. The benefits that will be paid out may vary depending on the future performance of the Life Participating Fund.

Major Impact Benefit

By including the Major Impact Benefit in your policy, you can gain protection against future unknown diseases as well as serious infections. This benefit offers coverage until the policy anniversary following your 85th birthday, providing financial protection in the event that you undergo surgery or experience an infection that necessitates a stay of 5 days or more in an Intensive Care Unit (ICU) during a single hospital admission.

Major Impact Benefit

Event Coverage before the anniversary immediately after the insured reaches age of 75/80
  • Undergo surgery or suffer from infection and
  • Require a stay of 5 days or more in ICU

Higher of 20% of the rider’s sum assured plus pro-rated bonuses of the basic policy;

or

20% of the rider’s minimum protection value

Coverage on or after anniversary immediately after the insured reaches age of 75/80
20% of the rider’s sum assured plus pro-rated bonuses of the basic policy

Source: Income

Income will provide a maximum payment of $100,000 (excluding bonuses) for each insured individual, regardless of the number of policies issued to cover them. In order to be eligible for this benefit, the surgery or infection and the ICU stay must be directly caused by the same underlying condition and deemed necessary for medical treatment. However, this benefit will not be payable if the claim arises from the insured individual experiencing symptoms of, undergoing investigations for, or being diagnosed with an illness within 90 days prior to or after the cover start date, except in the case of an accident.

It’s important to note that any claims made under the Major Impact Benefit will result in a reduction of the sum assured and any bonuses associated with this rider, its underlying policy, and any other accelerated riders of the underlying policy by the same amount paid under this rider. Furthermore, this benefit can only be claimed once. For further details, please refer to the policy conditions.

Early Life Accelerator rider

While most insurer’s Early Critical Illness (CI) rider covers early, intermediate and advance stage CI, Income’s Early Secure Accelerator rider covers only early and intermediate stages. A separate Advanced Secure Accelerator rider is needed to cover for advance stages.

With this rider, your total coverage can expand to include a comprehensive range of 152 conditions. Additionally, this rider provides coverage of up to $350,000 for early and intermediate stage dread diseases. Furthermore, with the inclusion of the Special Therapy Benefit, you gain additional coverage specifically designed to support you in the event of a catastrophic cancer diagnosis, including cell, tissue, and gene therapy.

There is also the Advanced Restoration Benefit  which offers supplementary protection specifically for stroke with permanent neurological deficit, major cancer, and heart attack of specified severity after a successful  claim made for an early or intermediate stage dread disease.

That means this claim can only be made after a successful claim payout for early and intermediate stage critical illness.

Specified Advanced stage CIs are:

Event Extra coverage – Advanced Restoration Benefit
  • Stroke with permanent neurological deficit
  • Major cancer
  • Heart attack of specified severity
Coverage before the anniversary immediately after the insured reaches age of 75/80
20% of the rider’s minimum protection value
Coverage on or after the anniversary immediately after the insured reaches age of 75/80
20% of the rider’s sum assured

Source: Income

Enhanced Benefits for Special and Mental Conditions, and Juvenile Coverage

The Special and Mental Benefit offers a payout equivalent to 30% of the rider’s sum assured to provide coverage for 15 specific conditions. The Special Benefit protects against 10 conditions, such as diabetic complications and Zika, until the age of 85. The Mental Benefit covers individuals against 5 mental conditions, including major depressive disorder, obsessive-compulsive disorder, and Tourette syndrome, before the age of 75 (for most conditions) or before the age of 21 (for Tourette syndrome).

For insured individuals below the age of 18 years old, the Juvenile Benefit offers a payout equal to 20% of the rider’s sum assured. This benefit covers 15 conditions, including Kawasaki disease and insulin-dependent diabetes mellitus.

Special Therapy Benefit

Benefit from additional protection against catastrophic cancers like leukemia, lymphoma, and stage 4 malignant tumors, which may necessitate cell, tissue, and gene therapy. This form of cancer treatment has been approved for use in Singapore and presents an alternative option for patients with specific types of advanced blood cancer. Numerous studies have demonstrated noteworthy enhancements in patient outcomes, with sustained responses. Notably, Singapore is the pioneering country in Southeast Asia to provide this innovative treatment.

Interested to learn more?

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Accidental Death

Includes up to additional 200% of sum assured. Coverage for this is until age 70.

Coverage

Protection includes death, terminal illness and total & permanent disability (TPD until age 70) as well as critical illness from early to advance stage.

Other Riders Available:

 Dread Disease Premium Waiver

Any future premiums will be waived upon Advance Stage CI (not including angioplasty and other invasive treatment for coronary artery as they are considered as conditions under Special Conditions).

Enhanced Payor Premium Waiver

Any future premiums will be waived in the event of death or TPD (Total Permanent Disability) as well as Advance Stage CI (not including angioplasty and other invasive treatment for coronary artery as they are considered as conditions under Special Conditions).

This is specially for 3rd party payor where the life insured cannot be the policy owner. 

Interested to learn more?

Fill in the form below and we will get back to you!

Hospital Cash Aid

An add on to your Hospital Shield plan, this rider protects up to 85 years old for future unknown disease and receive daily hospital cash benefits.

Special and Juvenile Benefits

Aside for 10 special benefits, there are also mental benefits covered for.

The 10 special benefits covered under this benefit are:

Before the insured reaches the age of 85

Special Benefit
1 Diabetic Complications
2 Severe Osteoporosis
3 Severe Rheumatoid Arthritis
4 Dengue Hemorrhagic Fever
5 Crohn’s disease
6 Ulcerative Colitis
7 Breast Reconstructive Surgery following a Mastectomy
8 Pheochromocytoma
9 Zika
10 Chikungunya Fever

Before the insured reaches the age of 75

Mental Benefit
11 Major Depressive Disorder
12 Schizophrenia
13 Bipolar Disorder
14 Obsessive Compulsive Disorder
15 Tourette Syndrome (before age 21)

The 15 Juvenile Benefits covered under this benefit are:

Juvenile Benefit
1. Osteogenesis Imperfecta
2. Severe Haemophilia
3. Insulin Dependent Diabetes Mellitus
4. Kawasaki Disease
5. Rheumatic Fever with Valvular Impairment
6. Type I Juvenile Spinal Amyotrophy
7. Wilson’s Disease
8. Systemic Juvenile Rheumatoid Arthritis
9. Intellectual Impairment due to Sickness or Injury
10. Glomerulonephritis with Nephrotic Syndrome
11. Sanfillipo Syndrome
12. Bile Acid Synthesis Disorder
13. Pyruvate Dehydrogenase Complex Deficiency
14. Antley Bixler Syndrome
15. Beta Thalassemia Major

How Income Star Secure Pro Works

NTUC Income Star Secure Pro Whole Life Plan
Source: income

Interested to learn more?

Fill in the form below and we will get back to you!

The NTUC Income Star Secure is Suitable if You:

  • Flexible Premium Terms
  • No fluctuation on premiums
  • Whole life protection with cash values
  • Flexibility to choose the level of protection
  • Comprehensive coverage that includes Death, TPD, TI and accidental death
  • Assurance of future premiums with family waiver benefit
  • Customise their protection need with optional riders to enhance coverage
  • Early CI up to $350k
  • Payout for CI across all stages including Early to intermediate to advance stage for a low premium

Interested to learn more?

Fill in the form below and we will get back to you!

 It would however be less suitable if you would like:

  • High returns of more than 10%
  • Immediate Break Even on Capital
  • Prefer Guaranteed Life Income as well as guarantee on capital of total premiums paid at the end of the selected Accumulation period
  • Want a steady stream of guaranteed income (coupled with non guaranteed bonuses)
  • Ease of application, no medical underwriting

Income Star Secure Pro Review Conclusion

As with all whole life insurance plans, the suitability of this plan for you will largely depend on your needs and expectations. There are many whole life insurance plans in the market with many strong Insurers. Which one suits you the most?

To find the most suitable coverage, simply fill in the form below and our friendly licensed FA advisor will get in touch with you. Based on your needs, a custom made solution will be adjusted only addressing your concerns.

No obligations, no hidden fees. All advice are of no charges.

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