In this Terms of Offer the following terms shall have the meaning assigned to them below:
- “Promotion” means the Valentine’s Day 2023 100% Cashback Investment 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 credits
- “Investment Credits” 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 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 mobile 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 mobile 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 is offering
i) 1 x 100% Cashback, worth up to $50 investment credits (“Cashback”) daily for user(s) that made the 2nd, 22nd and 222nd Linked Mastercard transaction under any SNACK's Lifestyle Activity MCC of the total daily recorded SNACK users' Linked Mastercard Lifestyle Activity transactions;
under this Promotion, to applicants whom successfully spend with their Linked Mastercard on any Lifestyle Activity in the SNACK App during the Promotion Period, subject to this Terms of Offer.
2. The Promotion is valid from 11 February 2023 until:
i) 19 February 2023 (inclusive of both dates), or
ii) the total amount of Cashback issued under this Promotion cumulatively, reaches $1,350, whichever is earlier (the “Promotion Period”).
3. You will be eligible for the Cashback under this Promotion if:
i) you have successfully signed up for an account on the SNACK App for the first time during the Promotion Period
ii) you are a Singapore Citizen or Singapore Permanent Resident;
iii) you are between 18 – 61 years old (inclusive of both years);
iv) you have completed the Customer Knowledge Assessment Form (CKA) via the SNACK App when you sign up for the SNACK Investment via the SNACK App; and
v) you have successfully linked a Lifestyle Activity to SNACK Investment and have boosted your Investment via the SNACK App (refer to step 1-4 here);
vi) your transaction is either the 2nd, 22nd or 222nd transaction with a valid spend using your Linked Mastercard card on any Lifestyle Activity in the SNACK App.
4. Each applicant shall only be entitled to the Cashback once if your spend is fulfills the requirements in Clause 3, under this Promotion when the applicant signs up for the SNACK Investment via the SNACK App.
5. By accepting the Cashback via the SNACK App, you authorised Income to invest the total value of the Investment Credits on your behalf.
6. The Cashback are non-exchangeable for cash or benefit in kind.
7. Each applicant will only be eligible for the Cashback, worth up to $50 investment credits 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
8. 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.
9. If you fully withdraw your monies from the SNACK Investment before the Cashback are being issued, the Cashback will be deemed to have forfeited and no compensation will be given or paid in lieu.
10. 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.
11. The Promotion is not valid in conjunction with other incentives and promotions offered by Income.
12. 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.
13. 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.
14. 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).
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 11 February 2023.
