Employee Benefits Solution - Business ValuePack

Comprehensive employee coverage for your business.

Protect your employees, the vital assets of your business.

It is a comprehensive and flexible insurance plan that offers you wide coverage within a fixed budget. NTUC Income’s Business ValuePack is the ideal solution for your business.

Comprehensive and cost effective insurance to cover Health, Life & Personal Accident
The Business ValuePack offers cost effective and comprehensive coverage for your employees from Inpatient treatment, Death & Total and Permanent Disability payouts to Personal Accident insurance. You can also choose to extend the health coverage to their family members.

By allowing you to select the types of coverage you need, this unique health plan offers you a hassle-free solution to protect your employees. Without having to pay for unnecessary coverage, it provides your employees what they require at the cost best suited to your business.
Flexibility to mix and match to provide maximum insurance coverage
It allows you to select different types of benefits and levels of protection based on your budget and employees’ needs. So now you can customise a health plan to provide the essential healthcare benefits and protection for your employees.
Protect your organisation against unexpected medical expenses
As a safeguard against unexpected employee medical expenses, it also provides you peace of mind while your employees are also assured that they are well covered against mishaps and work related accidents.
NEW! Extended to cover occupational Class 3 employees at no extra cost
In addition, the Business ValuePack now provides insurance coverage for light to medium manual work occupations at no extra cost. Hence, more employees can benefit from this comprehensive insurance plan.

The Business ValuePack is packaged in 3 different tiers, each comprising a choice of 5 benefit levels. It allows you to customise an insurance plan that will best serves the requirements of your business for your employees.

ECONOMY PACKAGE
An economical plan that offers essential Group Hospital and Surgical Insurance coverage, which includes:

Hospital and surgical benefits

Daily in-hospital cash allowance from the 6th day of hospitalisation (up to a maximum of 55 days)

Hospital outpatient treatment costs related to surgical procedures as well as emergency treatment costs arising from accidents

Optional extension of coverage to include your employees’ spouse and all children

STANDARD PACKAGE
An essential plan that offers the benefits of the Economy Package PLUS Group Term Life Insurance. The benefits of Group Term Life Insurance coverage include:

Choice of different sum assured

Lump sum benefit payout upon Death

5 equal annual payouts making up the sum assured in the event of Total and Permanent Disability¹

COMPREHENSIVE PACKAGE
A comprehensive plan that offers the benefits of the Standard Package PLUS Group Personal Accident Insurance coverage. The benefits of Group Personal Accident Insurance coverage include:

Lump sum payable if accident results in Death or Total and Permanent Disability¹

Disability and dismemberment payouts

Coverage and benefits table for each package*

Economy (GHS only)
	Benefit Levels (maximum limit per any one disability)
	Plan 1	Plan 2	Plan 3	Plan 4	Plan 5
Group Hospital and Surgical Insurance (GHS)
Daily Room and Board (maximum 120 days including ICU)	$300	$250	$200	$170	$50
Intensive Care Unit (maximum 30 days)	$900	$750	$600	$510	$150
Other hospital services	$6,000	$5,000	$4,000	$3,000	$1,000
Surgical benefits (subject to Schedule^)	$8,000	$7,000	$6,000	$5,000	$2,000
Emergency outpatient treatment (accidents only)	$2,500	$2,000	$1,750	$1,500	$500
In-hospital consultation (maximum 120 days)	$70	$60	$60	$50	$30
Pre-hospitalisation specialist’s consultation(within 90 days prior to admission)	$450	$400	$350	$300	$250
Pre-hospitalisation diagnostic X-ray and laboratory fees (within 90 days prior to admission)	$450	$400	$350	$300	$250
Post hospitalisation treatment (within 90 days of discharge)	$500	$500	$500	$500	$500
Ambulance fees	$75	$75	$75	$75	$75
Daily In-hospital cash allowance (maximum 55 days, excluding first 5 days of confinement per disability)	$60	$50	$40	$30	$10
Miscarriage benefit	$1,000	$1,000	$1,000	$1,000	$1,000
Standard (GHS and GTL)
Group Term Life Insurance (GTL)
Death or Total and Permanent Disability from any cause	$60,000	$50,000	$40,000	$30,000	$10,000
Comprehensive (GHS, GTL and GPA)
Group Personal Accident Insurance (GPA)
Death or permanent dismemberment by accidents (payout in accordance to Table of Compensation)	$60,000	$50,000	$40,000	$30,000	$10,000

* Exclusions apply.
^ Schedule of surgical benefits available upon request.

Annual Premium Rates (inclusive of GST)

For 3 to 9 employees

PACKAGE	Plan 1	Plan 2	Plan 3	Plan 4	Plan 5
Economy Per Employee Per Spouse Per Child	$365 $457 $274	$308 $385 $231	$253 $316 $190	$197 $246 $148	$69 $87 $52
Standard Per Employee	$457	$384	$314	$243	$85
Comprehensive Per Employee	$481	$405	$330	$255	$89

For 10 or more employees

PACKAGE	Plan 1	Plan 2	Plan 3	Plan 4	Plan 5
Economy Per Employee Per Spouse Per Child	$338 $421 $254	$285 $357 $214	$234 $292 $176	$182 $227 $138	$64 $81 $49
Standard Per Employee	$423	$356	$290	$225	$78
Comprehensive Per Employee	$445	$375	$306	$236	$83

Eligibility

Minimum number of employees² is 3.
Compulsory submission of Health Declaration forms are required for business entities insuring less than 10 employees

Special consideration
If the company has 2 employees², the premium is 1.5 times the standard rate

Occupational Class Table

Class 1	Professions or occupations of professional, administrative, managerial or clerical involving indoor and non-manual nature. Examples: doctors, lawyers, architects, accountant, teachers, executives, clerks, bankers, secretaries, stockbrokers, indoor salespersons, and Management (Managing Director, Manager, CEO etc) with overseas travel less than 12 times a year.
Class 2	Professions or occupations of outdoor nature or involving manual work whose duties do not involve use of tools or machinery. Examples: bartenders, storekeepers, outdoor salespersons, tour guides, journalists, hairdressers, domestic helpers, insurance agents, property agents, beauticians, fitness trainers, waiters, and Management (Managing Director, Manager, CEO etc) with overseas travel 12 or more times a year.
Class 3	Professions or occupations involving manual work whose duties involve use of tools or machinery (other than woodworking machinery). Examples: bakers, butchers, cook, deliverymen, drivers, driving instructors, fishmongers, fitters, gardeners, hawkers, engineers (involving the use of tools), painters, private investigators, plumbers, veterinary surgeons and unarmed security guards.

Main Exclusions

There are certain conditions whereby the benefits under this plan will not be payable. These are stated as exclusions in the policy contract. You are advised to refer to the policy contract for the full list of exclusions.

Group Hospital and Surgical Insurance excludes congenital anomalies, pregnancy and childbirth, infertility and birth control, self-inflicted injuries while sane or insane, AIDS or any type of sexually transmitted disease. For group size of 10 employees & above, 12-month waiting period for pre-existing conditions will apply.

Group Personal Accident Insurance excludes suicide or self-inflicted injuries, while sane or insane, insurrection, war declared or undeclared, terrorism, committing an assault or felony, strike, riot or civil commotion, racing on wheels or boats.

IMPORTANT NOTES:

¹ Total and Permanent Disability coverage ceases when the Insured Member attains the age of 65.

² Applicable to Class 1, 2 and 3 occupations only. All employees are to be covered under a single package, e.g. Economy, Standard or Comprehensive.

Different plans can be provided to employees in different job categories, but all employees in the same job category must be covered under the same plan, e.g. Executive - Plan 1, Non-executive - Plan 2.

Premium rates are non-guaranteed and may be reviewed from time to time.

This website is for general information only and not a contract of insurance. The precise terms, conditions and exclusions of this plan are specified in the Policy Contract issued to your organisation. You should seek advice from a qualified adviser if in doubt. If you choose not to, you will have to take sole responsibility to ensure that this product is appropriate for your financial needs and insurance objectives. Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs.

Information is correct as of 30 April 2011.