In this Terms of Offer the following terms shall have the meaning assigned to them below:
“Promotion” means the SNACK Investment Welcome Promotion
“Distribution” means the bonus that will be given by the fund manager due to good performance of the sub-fund.
“Income” means Income Insurance Limited.
“Investment” or “Invest” means a purchase of units from selected sub-fund using premiums or investment credit.
“Investment Credits” means the value in the form of credits accumulated by you under this Promotion that will be invested once it has been redeemed. The value of the Investment Credits 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 online application.
“SNACK Investment” means the micro investment linked policy in the SNACK App.
“Lifestyle Activity” means one or more actions that the policyholder has selected in the policy application via the SNACK by Income online application 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.
1. Income Insurance Limited (“Income”) is offering the following:
i) $10,000 free insurance coverage (“Free Coverage”) for each of the SNACK Accident/ SNACK-Life/ SNACK-Critical Illness products to the eligible applicant, if the applicant successfully links a Visa card as an Activity Source to the respective products for the first time via the SNACK BY INCOME online application (“SNACK App”) and is eligible for the respective products after completing the underwriting for each product;
(the “Promotion”) subject to this Terms of Offer.
2. The Promotion is valid from 26 December 2023 to 31 December 2023 (inclusive of both dates).
3. The applicant (“You”) will be eligible for the Promotion if:
i) you have successfully signed up for an account on the SNACK App;
ii) you are a Singapore Citizen or Singapore Permanent Resident (PR);
iii) you are between 18 – 61 years old (inclusive of both years);
iv) you have successfully linked your Visa Card as an Activity Source to SNACK Policy for the first time on the SNACK App during the Promotion Period;
v) you have never linked a lifestyle trigger or an activity source before the Promotion Period;
vi) you are eligible for the SNACK product(s) after completing the underwriting process; and
vii) You have not started any SNACK micro-insurance or SNACK Investment policy before.
4. You will be issued the $10,000 free insurance coverage for each of the eligible SNACK product(s) after completing the redemption process on the SNACK App.
5. The Promotion is not valid in conjunction with other incentives and promotions offered by Income.
6. The Promotion is valid for one-time use only by each eligible applicant under this Promotion.
7. If you are eligble for the free coverage, it will be issued to your policy by 15 January 2024.
8. 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.
9. Income reserves the right to change the terms and conditions of this Terms of Offer without any prior notice.
10. Income reserves the right to replace the Free Coverage with items of similar value (“Replacement Item”) at any time without prior notice.
11. The use of the Free Coverage or Replacement Item shall be subject to the terms and conditions of the merchant that issued the Free Coverage or Replacement Item.
12. 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 Free Coverage or the Replacement Item (if any).
Important Notes:
• 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 26 December 2023.