Introduction
Whole life insurance provides lifelong financial protection and peace of mind for you and your loved ones. The Income Star Secure Pro is a comprehensive whole life insurance plan that offers flexible coverage options and potential for cash value growth. With its unique features and optional riders, this policy aims to safeguard your financial future against various life uncertainties. Whether you're looking for basic protection or a more robust insurance solution, the Income Star Secure Pro is designed to meet diverse needs and preferences.
Coverage and Benefits
The Income Star Secure Pro offers a range of comprehensive coverage options and benefits to protect you and your family financially. From death benefits to critical illness coverage, this policy is designed to provide support during various life events. Let's explore the key features and benefits of this whole life insurance plan.
Flexible Death Benefit
Choose coverage up to 500% of sum assured. The death benefit pays out the higher of sum assured plus bonuses or the Minimum Protection Value before age 70.
Guaranteed Cash Value
Policy accumulates cash value over time. Surrender value available after 1-2 years depending on premium term.
Non-Guaranteed Bonuses
Potential for annual and terminal bonuses. Bonuses are based on participating fund performance and not guaranteed.
Terminal Illness Coverage
Pays out 100% of sum assured plus bonuses. Benefit available if diagnosed with terminal illness before age 75 or 80.
TPD Protection
Covers total and permanent disability. Pays 100% of sum assured plus bonuses if TPD occurs before age 75 or 80.
Critical Illness Benefit
Optional rider covers up to 152 critical illness conditions. Provides early, intermediate, and advanced stage coverage.
Investment and Savings Components
The Income Star Secure Pro not only provides insurance protection but also offers potential for long-term savings growth. Through its participating fund structure, policyholders can benefit from professional investment management and historical returns. Understanding these investment aspects can help you make informed decisions about your financial future.
Diversified Investment Strategy
Premiums invested in participating fund. Strategic allocation: 36% risky assets, 64% fixed income and cash.
Strong Historical Performance
Average 10-year return of 5.04%. Best-in-class 3, 5, and 10-year returns among participating funds.
Projected Value Growth
Illustrated surrender value at age 85: $257,075 (4.25% return) or $137,953 (3% return). Actual returns may vary based on fund performance.
Optional Riders
Income Star Secure Pro offers several optional riders to enhance your coverage and tailor the policy to your specific needs. These riders provide additional protection against critical illnesses, hospital expenses, and other unforeseen circumstances. By adding these riders, you can create a more comprehensive insurance package that addresses multiple aspects of your financial security.
Advanced Secure Accelerator
Covers 49 specified dread diseases. Includes Major Impact Benefit for future unknown diseases or serious infections.
Early Secure Accelerator
Protects against early and intermediate stage critical illnesses. Covers up to 152 conditions, including mental illnesses.
Hospital CashAid
Provides daily hospital cash benefit. Offers additional payout for ICU stays and recovery.
Policy Loan and Surrender Options
The Income Star Secure Pro offers flexibility in accessing your policy's cash value through loans or surrender options. These features can provide financial relief during emergencies or when your needs change. However, it's important to understand the terms and potential impacts on your policy before utilizing these options.
Policy Loan Availability
Loans available against cash value. Specific terms and interest rates not provided in the given information.
Surrender Value Calculation
Surrender value available after 1-2 years. Early surrender may result in significant costs or loss of value.
Competitive Performance
NTUC Income's participating fund has strong track record. Second-best 15-year returns, best 3, 5, and 10-year returns in the market.
Claims and Customer Service
Filing claims and accessing customer support for the Income Star Secure Pro is designed to be straightforward and efficient. Policyholders can initiate claims by contacting NTUC Income directly through their customer service hotline at 6788 1122. For immediate assistance, customers can also use the online chat feature available at www.income.com.sg/advisor-connect. NTUC Income provides multiple channels for support, including meeting with an Income advisor in person or visiting their website at www.income.com.sg for detailed information and online services. The company is committed to ensuring a smooth claims process and responsive customer service to meet policyholders' needs.
Conclusion
The Income Star Secure Pro whole life insurance plan is particularly well-suited for individuals seeking comprehensive lifetime coverage with flexibility in protection levels. It may be an excellent choice for young families looking for long-term financial security, professionals wanting to combine protection with potential cash value growth, and those concerned about critical illness coverage. The plan's adaptability and range of riders make it a versatile option for various life stages and protection needs.
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