In this Terms of Offer the following terms shall have the meaning assigned to them below:
- “Promotion” means March 100% Cashback Promotion.
- “Distribution” means the bonus that will be given by the fund manager due to good performance of the sub-fund.
- Eligible SNACK Products means any of these SNACK Products - SNACK Accident, SNACK Critical Illness, SNACK Life or SNACK Investment.
- “Income” means Income Insurance Limited.
- “Investment” or “Invest” means a purchase of units from selected sub-fund using premiums or investment credit.
- “Investment credit” means the value in the form of credits accumulated under this Promotion that will be invested once it has been redeemed. The value of the Investment credit will not fluctuate, and it will not be eligible for any Distribution from the sub-fund, Asian Income Fund.
- “SNACK App” means the SNACK BY INCOME mobile application.
- “SNACK Accident” means the micro insurance Accident policy in the SNACK App.
- “SNACK Life” means the micro insurance Life policy in the SNACK App.
- “SNACK Critical Illness” means the micro insurance Critical Illness policy in the SNACK App.
- “SNACK Investment” means the micro investment linked policy in the SNACK App.
- ”Premiums” means the amount of money that was used to buy the Eligible SNACK Products.
- “Lifestyle Activity” means one or more actions that the policyholder has selected in the SNACK App to perform the lifestyle activity requirement which upon our receipt of the confirmation by the activity source of the policyholder’s completion of the lifestyle activity requirement and premium payment, will result in the issuance of this policy.
- “Boost” refers to completing the actions defined in Clause 3 (iv)
- “Cashback” refers to 100% of the first transaction amount that was used to trigger the Lifestyle Activity in the form of investment credit issued under this Promotion, capped at $30 investment credits.
- The Promotion is valid from 14 March 2023 until:
i) 31 March 2023 (inclusive of both dates), or
ii) total amount of Cashback issued under this Promotion cumulatively, reaches $5,000, whichever is earlier (the "Promotion Period").
- Income is offering 100% Cashback, worth up to $30 investment credits (the "Cashback") under this Promotion, to applicants whom successfully boosted any Eligible SNACK Products and paid your first Premium on an eligible linked Lifestyle Activity during Promotion Period.
- You will be eligible for the Cashback under this Promotion if:
i) you are a Singapore Citizen or Singapore Permanent Resident;
ii) you are between 18 – 61 years old (inclusive of both years);
iii) have not boosted all your Eligible SNACK Products before Promotion Period;
iv) you have successfully boosted any Eligible SNACK Products for the first time via SNACK App during Promotion Period. Refer to the step-by-step guides below on how to boost:
v) you have successfully paid your first premium on the boosted product based on the completion of an eligible Lifestyle Activity.
- All Lifestyle Activities in the SNACK App is eligible for the promotion except for Steps.
- Each applicant shall only be entitled to the Cashback once under this Promotion and it will be reflected on your SNACK Investment portfolio by 15 May 2023 (“Fulfilment Period”).
- By accepting the Cashback via the SNACK App, you authorised Income to invest the total value of the investment credits on your behalf.
- The Cashback are non-exchangeable for cash or benefit in kind.
- Each applicant will only be eligible of up to a total of $30 Cashback under this Promotion and 100% of Cashback issued will be allocated into buying units from the sub-fund known as the Asian Income Fund. To find out more on the sub-fund, please click on the link https://www.income.com.sg/funds/asian-income-fund.
- You agree that your right to redeem the Cashback under this Promotion is subjected to you meeting all the eligibility criteria as set out in this Terms of Offer. Income reserves the right to replace the Cashback under this Promotion with any item of similar value (“Replacement Item”) at any time without prior notice and after which, you shall have no further claim to the Cashback.
- If you fully withdraw your monies from the SNACK Investment and/or do not have an active SNACK Investment during Fulfilment Period, the Cashback will be deemed to have forfeited and no compensation will be given or paid in lieu.
- Income reserves the right to replace the Cashback with a Replacement Item at any time for any reason whatsoever without prior notice and after which you shall have no further claim to the Investment Credits.
- The Promotion is not valid in conjunction with other incentives and promotions offered by Income.
- This Terms of Offer does not affect or change any term of the policy contract issued to you. If there is any inconsistency between this Terms of Offer and any term of the policy contract, the term of the policy contract shall prevail.
- Income reserves the right to change, suspend (in whole or in part) the terms and conditions of the Promotion and /or terminate the Promotion without any prior notice.
- Income shall not be liable to any applicant or party, whether in contract or tort (including negligence) or otherwise, for any liabilities, losses and damages, claims, costs and expenses or for any special or consequential damages or losses in connection with, related to or resulting from the use of the Cashback or the Replacement Item (if any).
- This material shall not constitute an advice of the suitability of the product. You should seek independent advice from a qualified advisor where in doubt. Buying insurance products that are not suitable for you may impact your ability to finance your future insurance needs.
- The relevant policy contracts shall be made available to the applicant via the SNACK App.
- Protected up to specified limits by SDIC.
Information is correct as at 14 March 2023.