PayMyUni – Product Summary

Get a headstart in securing your child's future

It is important to maximise your child’s potential. PayMy‘Uni’ gives you a head start in planning for your child’s tertiary education, with added insurance cover and hospitalisation benefits.

High investment yield to grow your savings

By putting aside a regular amount monthly, you will see your savings grow to a significant amount to meet the rising cost of education.

PayMy‘Uni’ helps you build sufficient funds for the education that your child deserves.

Flexible payouts

Unique to this plan, the payouts can be spread over the duration of the tertiary education, covering yearly fees and expenses.

Best of all, the payouts are available in 3 convenient parts. The steady stream of funds can coincide with the years of study to cover ongoing school fees and other expenses.

2 years before maturity of policy: 40% of sum assured

1 year before maturity of policy: 40% of sum assured

Upon maturity of policy: 20% of sum assured (plus accumulated bonuses).

Waiver of Premium and more

At NTUC Income, we understand that even as parents plan for a bright future for their children, sometimes the unforeseen can happen. To provide for such circumstances, PayMy‘Uni’ offers comprehensive insurance cover and hospitalisation benefits.

• Waiver of all future premiums in the event of death, or total and permanent total disability of parent.
  
  
• Payment for each day of hospitalisation and medical leave following discharge from hospital of child.
  
  
• Payment of full sum assured plus accumulated bonus upon death, total and permanent total disability, or diagnosis of terminal illness of child

Enhanced cover

You can also enhance the protection further with a wide range of optional covers.

For example, the Enhanced Income Benefit provides additional monthly allowance to the child in the event of death, total and permanent disability or diagnosis of dreaded diseases of the parent.  The Child Plus covers child’s specific illnesses.

Convenience for future policy purchases

Upon maturity of PayMy‘Uni’, your child can continue to enjoy the assurance without hassle - your child can purchase another whole life or endowment policy with no underwriting. The sum assured can be up to 3 times the original sum assured.

A term with good timing

You can choose the length of coverage (from 8 to 24 years) to coincide the maturity of the policy with the final year of university, so as to take advantage of lower monthly premium and higher yield.