NTUC Income launches support schemes for members during COVID-19 pandemic

17 April 2020

aoa covid

Singapore-based ICMIF member NTUC Income (Income) has recognised that the COVID-19 pandemic is impacting lives socially and financially in unprecedented ways. During this period, the cooperative insurer says, customers have reached out to Income for relief and they understand that there’s a strong desire amongst customers to retain insurance commitments and cover. Income has therefore responded with seven Income Support Schemes so that its customers have choice and flexibility in choosing the type of support that best suits their financial circumstance.

From Income-funded schemes that are meant only for customers who are low-income, to a temporary protection plan to stand-in for lapsed regular premium policies if customers are facing financial difficulties and are unable to afford premiums, eligible customers who wish to further ease their cash-flow can also choose from a premium payment deferment and instalment payment plan. The latter is also extended to eligible corporate customers so that they can direct cash-flow to sustain the business and keep jobs, while knowing that they, their employees and businesses remain protected. For eligible customers of our motorcycle insurance and have registered the vehicle for delivery business, Income says its support will come in the form of premium discount.

Find out more about the Income Support Schemes at https://lnkd.in/f45r-zt

For member-only strategic content on the cooperative/mutual insurance sector, ICMIF members have exclusive access to a range of online resources through the ICMIF Knowledge Hub.

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