Last Updated on March 21, 2022 by Parentology
The NTUC Income iTerm is a plain vanilla term insurance that covers for death, TPD (Total Permanent Disability) and terminal illness.
NTUC Income iTerm’s Product Features
Renewal Guaranteed
Have the option to renew the term insurance policy to extend the coverage up to 85 years old. This is guaranteed and no medical underwriting is needed. The premiums however, will be based on the age of renewal and will increase.
Supplementary Riders Available:
Payor Premium Waiver Rider
This is helpful for parents getting for their child, as future premiums will be waived should the parent (the payer) dies or is diagnosed with TPD (before 70 years old). The policy will not be ceased and your child (life assured) will still be covered for. This rider is only for 3rd party payer. Insured must not be policy holder.
Enhanced Payor Premium Waiver Rider
Essentially the same function as Payor Premium Waiver. But aside for death and TPD, this rider covers for the payer (the payer) in the event of diagnosis of critical illness of the advance stage only. However, angioplasty and other invasive treatment for coronary artery is not included. The policy will not be ceased and your child (life assured) will still be covered for. This rider is only for 3rd party payer. Insured must not be policy holder.
Dread Disease Premium Waiver Rider
This rider covers for the payer (the payer) in the event of diagnosis of critical illness of the advance stage only. However, angioplasty and other invasive treatment for coronary artery is not included. The policy will not be ceased and your child (life assured) will still be covered for. This rider is only for 3rd party payer. Insured must not be policy holder.
Essential Protect Rider
Sum assured for this rider will be paid out in the event of death, total and permanent disability (TPD before age 70), terminal illness or diagnosis of advance stage critical illness (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Total Protect Rider
Sum assured for this rider will be paid out in the event of death, total and permanent disability (TPD before age 70), terminal illness or diagnosis of early to intermediate to advance stage critical illness (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Additionally, the Total Protect rider provides Advanced Restoration Benefit. This offers additional protection for cancer, stroke and heart attack for specified severity after an early or intermediate stage critical illness claim has been paid out.
How NTUC Income iTerm Works
source: NTUC Income
What We Don’t Like About NTUC Income’s iTerm
- TPD (Total Permanent Disability) is until only 70 years old
- There are no Multipay CI riders
NTUC Income iTerm Product Information Conclusion
Ntuc Income’s iTerm comes as a vanilla term plan. It can be competitive when only death, TPD & Terminal Illness is considered with the low premiums and high coverage, when compared with all term plans. However when it comes to different permutations it may not be the most comprehensive.
For parents, there are many other competitive term insurers in the market and it is advised to compare and/or speak with a professional in this regard.
The suitability of this plan for you and your child will largely depend on your needs and expectations. There are many whole life insurance plans in the market. To find the most suitable coverage, simply fill in the form below and our friendly licensed FA advisor will get in touch with you.
No obligations nor hidden charges. Based on your needs, a custom made solution will be adjusted only addressing your concerns.
