Frequently Asked Questions

Fire extra perils
  • Q:How does NTUC Income assess my claim?


    We will review the claim submitted and decide whether it is necessary to appoint a loss adjuster who is an independent external party to assist us in the investigation and assessment of the claim.

  • Q:If the structure of my building is affected as a result of a fire and I have to reinstate my building, what is the basis of settlement?


    Claims payout under the policy will be based on but not limited to the following factors.

    1. Basis of cover
    2. Proceeds from salvage sales
    3. Underinsurance

    Basis of cover

    Indemnity Basis: The claim amount is derived by taking into account depreciation or wear and tear.

    Replacement Value Basis: The claim amount payable is the replacement value of the same form without depreciation or wear and tear. In the event that there is any improvement or betterment to the original property, deductions shall be made on the replacement value to reflect such improvement or betterment.

    Proceeds from salvage sales

    Any proceeds received from a salvage sale will be deducted from the loss amount.


    In the event the sum insured is less than the value of the insured property at the time of loss, the claim amount payable will be reduced proportionately.

  • Q:What is the deductible/excess under my Fire Insurance policy?


    Deductible/excess is the amount of the claim you have to bear for every claim you file. This amount is specified in your policy contract.

  • Q:What should I do if a loss adjuster is appointed?


    You should provide full co-operation to the loss adjuster and submit all requested information / documents to the appointed loss adjuster. The loss adjuster will follow up with you on any further requirements.

  • Q:What should I do if a loss adjuster is not appointed?


    You should, as far as possible, gather all facts and circumstances giving rise to the loss. These include details of any third party responsible for the damage to your property and photographs indicating the extent of the damage.

    You will need to submit all the relevant documents together with the claim form to us. We may follow up with you on further information/documents required.

Theft Money Fidelity
  • Q:If I was going to the bank to deposit money and I was robbed on my way to the bank, can I make a claim for the loss of my money?


    Yes, you can claim for the loss of money occurring whilst in transit between your premises, clients’ premises and the bank.

  • Q:If my stocks/contents are stolen from the shelves by walk-in customers, can I make a claim for the loss?


    No, you can only make a claim provided there was actual forcible and violent entry into your premise. This includes robbery, hold-up or any attempted thereat.

  • Q:If my stocks or money was stolen by my employee, can I make a claim for my losses under the Fidelity Guarantee Insurance Policy?


    Yes, you may make a claim for this under the Fidelity Guarantee coverage.

  • Q:I left my money on the shelf and left my office premises for a short while. When I returned, I discovered that there was a break-in and my money was missing. Can I make a claim for the loss under the Money section of the Business Insurance Policy?


    No, you can only make a claim provided your money was kept under lock and key at all times.

Public liability
  • Q:If I or my employee cause damage to a third party’s property, should I compensate the third party for the damage?


    No, you should not negotiate, admit liability or offer to pay the third party, without the written consent from NTUC Income. You should submit to us immediately upon receipt any legal letter (letter of demand, writ of summons) and all correspondence from the third party indicating their intention to claim.

  • Q:What if I have already compensated the third party without NTUC Income’s written consent? Can I still seek reimbursement for the compensation I pay out?


    In the event that you already have compensated the third party without NTUC Income’s written consent, you would have prejudiced our legal position. It is a breach of the policy condition and we may reject your claim.