1. Income Insurance Limited (“Income Insurance”) is offering the following promotion(s) (the “Promotion”) subject to these Terms and Conditions:
1.1. Existing PA Assurance customers shall be eligible to enjoy a 20% discount (the “Discount”) on first-year premiums payable when they upgrade their existing plan with the purchase of a higher PA Assurance plan than their existing plan (the “Qualifying Policy”).
1.2. For avoidance of doubt, the inclusion of optional benefits to customer’s existing PA Assurance plan alone, is not considered as an upgrade of plan.
2. To be eligible to enjoy this Promotion:
2.1. Applications for the Qualifying Policy must be submitted to Income Insurance from 8 July 2024 to 13 September 2025 (both dates inclusive) (the “Promotion Period”) via the following channels while quoting this Promotion:
- Income advisors; or
- Any Income branches; or
- The PA Assurance Product hotline 6788 1111;
2.2. Premium payment must be successfully received by Income Insurance during the Promotion Period; and
2.3 Applications for the Qualifying Policy must be approved by Income Insurance and the Qualifying Policy must be issued no later than 13 October 2025 for customer to be eligible to enjoy the Promotion.
3. Except for the discount applied for an insured child (where applicable), a customer may not enjoy more than one promotion offered by Income Insurance which is applicable to the customer for the purchase of the Qualifying Policy, unless otherwise advised by Income at the point of application.
4. The Discount is not exchangeable for cash or any benefit in kind.
5. The Discount is not applicable for subsequent renewals.
6. An administrative charge of $10.90 (inclusive of 9% GST) will apply for the Qualifying Policy which is cancelled before the start date of the policy.
7. For Qualifying Policies which are cancelled after the start date of the policy, please refer to the cancellation and refund clause found in the policy terms and conditions.
8. The Promotion does not affect or change any term, condition and exclusion of the policy contract of the Qualifying Policy issued. The precise terms, conditions and exclusions of the Qualifying Policy is specified in its policy contract.
9. Under no circumstances shall Income Insurance be liable to any customer or party, whether in contract, tort (including negligence) or otherwise, for any liabilities, losses, damages, claims, costs and expenses (including any special or consequential damages or losses) in connection with, related to or resulting from the Promotion.
10. Income Insurance reserves the right to change the terms and conditions of this Promotion at any time without any prior notice to customers.
11. Income Insurance’s decision on all matters relating to this Promotion shall be final, conclusive and binding. No appeals will be entertained.
IMPORTANT NOTES
You can find the standard terms, conditions and exclusions of:
PA Assurance at income.com.sg/pa-assurance-policy-conditions
All of Income Insurance’s products are developed to benefit our customers but not all our products may be suitable for your specific needs. If you are unsure if a product is suitable for you, we strongly encourage you to speak to a qualified Income Insurance advisor. Otherwise, you may end up purchasing a product that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or obtain the insurance protection you seek. If you find that an insurance plan is not suitable after purchasing it, you may terminate it within the free-look period and obtain a refund of premiums paid. We may recover from you any expense incurred in underwriting this plan.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Income Insurance or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
Information is correct as at 22 August 2024.