Income Support Schemes

Why has Income extended the application deadline for its support schemes to 2021?

The threat of COVID-19 remains and its impact on the economy is unlike anything we’ve seen before. As all of us adjust to a new norm in our lives, many have fallen on hard times and are trying to cope with their circumstances – socially and financially. It is important to us that our customers are able to sustain their insurance commitments and cover even in difficult times.

We have therefore extended our support schemes application deadline for life and health insurance plans to 31 March 2021, and for general insurance and corporate business plans all the way to 31 December 2021, so that more policyholders can continue to get the support they need.

Customers whose motorcycles are registered for delivery business can also continue to enjoy a 20% discount on motorcycle insurance premiums up to 31 March 2021.

Can I apply for more than one Support Scheme?

Yes, you can apply for more than one Support Scheme as long as you meet the eligibility criteria of each scheme. However, a customer who falls under Group A will not be eligible for the Support Scheme that is eligible for Group B customers

Where can I find more information about the Income Support Schemes?

Customers can visit income.com.sg/support-scheme to find out more about the Income Support Schemes.

Can I exchange the complimentary coverage for cash or other gifts?

No, the Support Schemes are not exchangeable for cash or any benefits-in-kind.

What if I don’t qualify for any of the Support Schemes?

Find out more about exercising other options within your policies to further ease your cash flow.

Who are Group A customers?

Group A customers are those who hold the CHAS Blue or Orange card or meet the following financial criteria.

	CHAS Orange cardholder	CHAS Blue cardholder
Household monthly income per person	$1,201 - $2,000	$1,200 & below
Annual Value of Home	$13,001 - $21,000	$13,000 & below

Note:
- Household monthly income per person means the total gross household monthly income divided by the total number of family members who live together in the same home.
- The Annual Value of Home means the estimated annual rental value of the home if it is rented out. This information is assessed by the Inland Revenue Authority of Singapore.

What Income Support Schemes are Group A customers eligible for?

Group A customers are eligible for Schemes 1 and 2 and the details are as follows.

Scheme 1 - Premium assistance for Enhanced IncomeShield Basic and C Plan, IncomeShield Standard, B and C Plan
Under this Scheme, Income will fund the cash outlay of an eligible customer’s renewal premium of the above policy for a year from the policy renewal date. The customer will continue to pay for the MediSave-approved portion of the premium via either MediSave or cash.

For example: Mr Lee, aged 76, Singapore citizen has an Enhanced IncomeShield Basic Plan and pays a total premium of $1,026 for the additional private insurance coverage portion. His MediSave-approved portion of his premium (i.e. MediSave additional withdrawal limit) is $900, while he has to pay $126 out-of-pocket for the cash outlay of his premium. Under this Scheme, Income will fund $126, which is the cash outlay of Mr Lee’s premium, while Mr Lee will pay $900 from his MediSave account.

For Scheme 1, if the customer has paid the cash outlay of the eligible IncomeShield Plans prior to the application period of the Income Support Schemes, Income will not be able to offer customers a refund.

Scheme 2 – Complimentary Basic Temporary Protection plan
The Scheme offers an eligible customer a one-year interim protection against Death and Total Permanent Disability (TPD) for a basic sum assured of $25,000, at no premium, in the event that the customer is unable to pay the premium of his/ her Income Regular Premium Plan and it lapses, provided he/she is age 60 and below. The customer can choose to reinstate the lapsed Regular Premium Plan, without underwriting, two months within the expiry of the Basic Temporary Protection Plan.

The eligible customer is issued an electronic policy conditions and Certificate of Insurance for the Basic Temporary Protection Plan as proof of coverage for one year. The customer can refer to the policy contract at https://www.income.com.sg/btpp-policy-conditions.pdf for the specific terms, conditions and exclusions (e.g. suicide and pre-existing conditions) of the plan.

How do Group A customers apply for Scheme 1 and 2?

You can apply for the Income Support Schemes either via your Income advisor or complete the online application form at www.income.com.sg/support-scheme. If you need further clarification, please submit your queries via our online form.

All applications must be submitted within the Application Period [01 April 2020, 00:00 to 31 March 2021, 23:59].

Applications for Scheme 1 must be submitted one month before the renewal date of the eligible IncomeShield Plans. The Scheme only applies to eligible IncomeShield Plans that are being renewed from 1 May 2020 to 31 March 2021 (inclusive of both dates).

Eligible Group A customers are also required to furnish proof of a valid CHAS Blue or Orange Card or relevant documents, such as pay slip or CPF contribution statement, that stipulates the household monthly income per person or the annual value of home.

Applications for Scheme 2 must be submitted when coverage for the Income Regular Premium Plan and riders have lapsed.

What are the Income Regular Premium Plan and riders eligible for Scheme 2?

The following is the list of Regular Premium Plans and Riders eligible for Scheme 2:

• Star Assure/ VivoAssure
• VivoLife
• DIRECT Star Classic Protect
• Gro Prime Saver/ VivoCash Prime
• Gro Cash Harvest
• Gro Saver/ Endowment
• Gro Flex Saver/ LP RevoSave
• Gro Steady Saver/ RevoSave
• Gro Secure Saver/ RevoSecure
• Gro Retire Ease/ RevoRetire
• Gro Goal Saver/ RevoEase
• Gro Junior Saver/ VivoChild
• Gro Gen Saver/ RevoGift
• TermLife Solitaire
• iTerm
• DIRECT – Term
• Mortgage Term
• Disability Accelerator
• Payer Premium Waiver

What if my Income Regular Premium Plan is not listed and I wish to apply for Scheme 2?

You may submit your request and query via our online form.

Who are the customers in Group B?

Group B customers are those who have a lapsed Income Regular Premium Plan and do not qualify for Group A’s financial criteria.

What are the Income Support Schemes that Group B customers are eligible for?

Group B customers are eligible for Scheme 3 (Low-cost Temporary Protection Plan) and the details are as follows.

The Scheme offers all customers (aged 60 years and below) who have an in-force Income Regular Premium Plan, but are not eligible for the complimentary Basic Temporary Protection Plan, a one-year interim protection against Death and Total Permanent Disability (TPD) at a range of affordable premiums and sum assured amounts, in the event that the customer is unable to pay the premium of his/her Income Regular Premium Plan and it lapses.

The details are enclosed in the table below.

Basic Sum Assured	$25,000	$50,000	$100,000	$150,000	$200,000
Premiums (Aged 40 & below)	$10	$20	$40	$60	$80
Premiums (Aged 41 – 60 years old)	$45	$90	$180	$270	$360

For eligible customers whose Regular Premium Plan do not require underwriting, they are only eligible for the Temporary Protection Plan at a basic sum assured of $25,000. Those whose plans require underwriting are eligible for a sum assured amount that is lower or closest to the Regular Premium Plan that had lapsed, subject to a maximum sum assured amount of $200,000 per customer. The customer can choose to reinstate the lapsed Regular Premium Plan, without underwriting, two months within the expiry of the Temporary Protection Plan.

The eligible customer is issued an electronic policy conditions and Schedule of Benefits for Temporary Protection Plan as proof of coverage for one year. The customer can refer to the policy contract at www.income.com.sg/tpp-policy-conditions.pdf for the specific terms, conditions and exclusions (e.g. suicide and pre-existing conditions) of the plan.

How do I apply for Scheme 3?

You can apply for the Income Support Schemes either via your Income advisor or complete the online application form at www.income.com.sg/support-scheme. If you need further clarification, please submit your queries via our online form.

All applications must be submitted within the Application Period [01 April 2020, 00:00 to 31 March 2021, 23:59].

Applications for Scheme 3 must be submitted when coverage for the Income Regular Premium Plan and riders have lapsed.

What are the Income Regular Premium Plan and riders eligible for Scheme 3?

The following is the list of Regular Premium Plans and Riders eligible for Scheme 3:

• Star Assure/ VivoAssure
• VivoLife
• DIRECT Star Classic Protect
• Gro Prime Saver/ VivoCash Prime
• Gro Cash Harvest
• Gro Saver/ Endowment
• Gro Flex Saver/ LP RevoSave
• Gro Steady Saver/ RevoSave
• Gro Secure Saver/ RevoSecure
• Gro Retire Ease/ RevoRetire
• Gro Goal Saver/ RevoEase
• Gro Junior Saver/ VivoChild
• Gro Gen Saver/ RevoGift
• TermLife Solitaire
• iTerm
• DIRECT – Term
• Mortgage Term
• Disability Accelerator
• Payer Premium Waiver

What if my Income Regular Premium Plan is not listed and I wish to apply for Scheme 3?

You may submit your request and query via our online form.

Who are the customers in Group C?

Customers in Group C are those who own an Income motorcycle insurance and have registered the motorcycle for delivery business.

What Income Support Schemes are Group C customers eligible for?

Group C customers are eligible for Scheme 4 (20% discount on motorcycle insurance premium for registered motorcycle for delivery business) and the details are as follows.

The Scheme offers a 20% discount on an eligible customer’s Income motorcycle insurance premium, provided the motorcycle is registered for delivery business. The 20% discount will apply for renewals from 1 May 2020 onwards. The premium discount will be automatically reflected in the premium notice for the customer.

How do I apply for Group C Income Support Schemes?

You can apply for the Income Support Schemes either via your Income adviser or complete the online application form at www.income.com.sg/support-scheme. If you need further clarification, please submit your queries via our online form.

All applications must be submitted within the Application Period [01 April 2020, 00:00 to 31 March 2021, 23:59].

How does Income define delivery business?

Delivery business will include food delivery services and courier services.

I am a corporate customer & I own motorcycles registered under the company that are used for food delivery services & dispatch/courier services. Will I be entitled to opt for this scheme?

This scheme is only open to individual policyholders (under personal ownership).

If my policy is already in force, can I be covered for the use of my motorcycle for delivery purpose mid way through my policy and qualify for Scheme 4?

Yes. We can extend your coverage to include the use of your motorcycle for delivery business and there will be no additional premium charged during the period of Scheme 4, if you qualify.

I have taken up a new motorcycle insurance policy with Income before 1st Apr 2020 but the effective date falls within the eligibility period of Scheme 4. Can I still qualify for the Scheme 4?

Yes, we can allow the discount as the effective date falls within the scheme period.

I have renewed the existing motorcycle insurance policy with Income before 1st May 2020 but the effective date falls within the eligibility period of Scheme 4. Can I still qualify for the scheme?

Yes, we can allow the discount as the effective date falls within the scheme period.

I have taken up/renewed a motorcycle insurance policy with Income with food delivery endorsement & the effective date falls outside the scheme application period. Can I still qualify for the scheme?

This discount will not apply retrospectively to any policy.

Who are the eligible customers that come under Group D?

Customers under Group D are individuals who are from the Affected Industries listed below and are facing financial difficulties triggered by the Covered Events that have resulted from the Covid-19 pandemic.

Covered Events:

Retrenchment
Forced no-pay-leave
Pay cut or suffer loss of income by at least 25%
Involuntary business closure due to new regulation

Affected Industries:

Aviation
Tourism
Hospitality
MICE & event organisers
Retail
Transportation
Tuition or Enrichment Centres
Food & beverage services (include bars and entertainment venues including night clubs, discos, cinemas, theatres, and karaoke outlets)
Maritime
Arts & Culture
Fitness & Wellness
Construction
Manpower Agencies
Real Estate
Manufacturing

What are the Income Support Schemes that are eligible for Group D customers?

Group D customers are eligible for Schemes 5 and 6 and the details are as follows.

Scheme 5 – Premium payment deferment for customers with individual life or health policy
Under this Scheme, the premium due will be deferred for up to 6 months from the next premium due date. During the deferment period, the insurance coverage will remain the same. All premium due will have to be paid in full at the end of the deferment period and the deferment of premium payment program will not waive off any premium payment. There will also not be any late payment interest or administrative charges imposed on the premium due throughout the deferment period.

Any pending claims (excluding Enhanced IncomeShield (EIS) plans, IncomeShield (IS) Plan or IS Standard Plan and Riders of these respective Plans) during the Deferment Period will be paid by Income after setting off all premium due under the policy, in the event premium due is less than the claim amount payable. But in the event the premium due is more than the claim amount payable under the Scheme 5 Policy, the claim amount will only be paid by Income after the premiums due under the policy has been settled in full by the customer.

Any pending claims admissible under the Scheme 5 Policy that are EIS plans, IS Plan or IS Standard Plan (including Riders of these Plans) during the Deferment Period will be paid by Income after the premiums due under the policy has been settled in full by the customer.

Once the Deferment Period ends, the customer will continue to pay the premiums in accordance to the terms and conditions of the policy contract.

Scheme 6 – Special instalment payment for General Insurance Plans
The Scheme offers an eligible customer with a General Insurance Plan (except motor and commercial line insurance plans) the option of paying the annual premium in 12 equal monthly instalments via either credit card or GIRO subject to the minimum monthly instalment amount (where applicable).

For an eligible customer with a motor insurance plan, the customer will have the following payment options.
- The annual premium in 12 equal monthly instalments via credit card issued by DBS/POSB/UOB/OCBC Bank with the minimum annual premium of $500;
- The annual premium in 6 equal monthly instalments via credit card issued by DBS/POSB/UOB/OCBC Bank with the minimum annual premium $200; or
- The annual premium in 6 equal monthly instalments by either cash or GIRO with the minimum monthly instalment of $300. This option will only be available to the customer if 3 or more of the monthly instalments are made via GIRO.

For an eligible customer with a commercial line plan, the customers shall pay Income the annual premium in 12 equal monthly instalments by GIRO subject to the minimum monthly instalment amount (where applicable).

There is no late payment interest or administrative charges imposed throughout the period of instalment. Any claims admissible during the period of instalment will be paid after the customer pays all outstanding premiums in full.

How do I apply Schemes 5 and 6?

You can apply for the Income Support Schemes either via your Income advisor or complete the online application form at www.income.com.sg/support-scheme. If you need further clarification, please submit your queries via our online form.

All applications must be submitted within the Application Period.

Eligible Group D customers are required to provide the relevant documents that will furnish proof of the Covered Events (such as official letter or notification from employer on retrenchment, extended no pay leave, pay slip or CPF contribution statement) and that they come from the Affected Industry.

To qualify for Scheme 5, the customer must have purchased the plan before 31 March 2020 and the next premium due date of the plan must fall within the period set out below for the following policy:

for individual life or health policy (excluding Dependant’s Protection Scheme, ElderShield and PrimeShield), between 1 April 2020 and 31 March 2021 (inclusive of both dates);
for Dependants’ Protection Scheme, between 1 May 2020 and 31 March 2021 (inclusive of both dates);
for ElderShield, between 1 May 2020 and 31 December 2020 (inclusive of both dates); or
for PrimeShield, between 1 May 2020 and 31 December 2020 (inclusive of both dates).

To qualify for Scheme 6, the plan must be a new annual premium plan purchased or an annual premium plan renewed, between 1 April 2020 and 31 December 2021.

When do I apply for Scheme 5?

Customers have to submit the application on or before 31 March 2021 and provide the relevant documents to Income evidencing the customer’s eligibility for this Scheme 5 at least 1 month before the life insurance policy’s premium due date or IncomeShield policy’s renewal date. The premium due date or renewal date must be between 01 Apr 2020 and 31 March 2021 (inclusive of both dates).

What are the eligible Life and Health Income Regular Premium Plans that are eligible for Scheme 5?

The following Life and Health Regular Premium Plans are eligible for Scheme 5:

Whole Life Plans, Savings Plans
Term Plans including the Dependants’ Protection Scheme and Affinity Schemes (LUV, SAFRA, HOMETEAMNS, CEGIS, PLUS!)
Integrated Plan and Riders
ElderShield and PrimeShield
Co-Pay Assist Plan

Why are Investment-Linked Plans not included?

Investment-Linked plans are more flexible than participating and non-participating plans as they offer premium holiday.

Can I apply the premium deferment scheme for multiple policies?

Yes, policyholder can apply for the scheme for multiple policies if the eligibility criteria are met.

Can I apply for another premium deferment scheme for the same policy after the end of an approved deferment period?

No, each policy can only qualify for premium deferment, i.e. Scheme 5 once.

How does the premium deferment scheme work for Whole Life Plans, Savings Plans?

If the deferment is approved, the premiums due will be deferred for up to 6 months from the next premium due date. There will be no interest charge for the deferment. The deferred premiums must be paid in full before the end of the deferred period. The policyholder can pay back the deferred premium(s) at any time during the deferred period. However, the amount that is paid at any point in time must be in multiples of the premium amount.

Illustration 1: Monthly premium of $100 deferred for 6 months

Start of deferred period						End of deferred period
10 Apr 2020	10 May 2020	10 Jun 2020	10 Jul 2020	10 Aug 2020	10 Sep 2020	10 Oct 2020
$100 Premium due	$100 Premium due	$100 Premium due	$100 Premium due	$100 Premium due	$100 Premium due	$100 Premium due
Pay deferred premiums in multiple of the monthly premium ($100) OR						Pay total deferred premiums $600 (premium due 10 Apr 2020 to 10 Sep 2020) and	The monthly premium due 10 Oct 2020 has to be paid within the grace period of 30 days as stated in policy contract

Illustration 2: Quarterly premium of $250 deferred for 6 months

Start of deferred period						End of deferred period
10 Apr 2020	10 May 2020	10 Jun 2020	10 Jul 2020	10 Aug 2020	10 Sep 2020	10 Oct 2020
$250 Premium due			$250 Premium due			$250 Premium due
Pay deferred premiums in multiple of the quarterly premium ($250) OR						Pay total deferred premiums $500 (quarterly premium due 10 Apr 2020 to 10 Sep 2020) and	The quarterly premium due 10 Oct 2020 has to be paid within the grace period of 30 days as stated in policy contract

Illustration 3: Half-yearly premium of $500 deferred for 6 months

Start of deferred period						End of deferred period
10 Apr 2020	10 May 2020	10 Jun 2020	10 Jul 2020	10 Aug 2020	10 Sep 2020	10 Oct 2020
$500 Premium due						$500 Premium due
Pay deferred premiums in multiple of the half-yearly premium ($500) OR						Pay total deferred premiums $500 (half-yearly premium due 10 Apr 2020 to 10 Sep 2020) and	The half-yearly premium due 10 Oct 2020 has to be paid within the grace period of 30 days as stated in policy contract

Illustration 4: Yearly premium of $1,000 deferred for 6 months

Start of deferred period						End of deferred period
10 Apr 2020	10 May 2020	10 Jun 2020	10 Jul 2020	10 Aug 2020	10 Sep 2020	10 Oct 2020
$1,000 Premium due
Pay deferred premiums in multiple of the yearly premium ($1,000) OR						Pay total deferred premiums $1,000 (yearly premium due 10 Apr 2020)

My annual premium is due on 1 May 2020 and I have difficulties paying premiums. What should I do?

A premium deferment is applicable for an in-force life or health policy that has a premium due date or policy renewal date between 1 April 2020 to 31 March 2021, provided you fall under the eligibility criteria indicated above. If you are eligible, you can apply to defer the payment of your premiums until 1 Nov 2020, i.e. six months from the premium due date. You may also choose to switch to a monthly payment if you are unable to pay the full annual premium amount.

If my premium is paid by GIRO, can I stop my GIRO deduction for the time being if I am eligible to defer my premium payment for 6 months?

You can cancel your GIRO account if you wish to defer the payment. You need to submit the GIRO cancellation form. However, if you wish to resume the GIRO payment in future, you will need to make a GIRO application again.

I am paying the premium of my regular premium saving plan by CPF-OA. I might not have sufficient funds in my CPF-OA for the upcoming deduction. What should I do?

If the deduction is unsuccessful and you are eligible to defer your premium payment for 6 months, you can contact us to update the premium mode to cash. You can make the premium payment by cash after 6 months or convert it back to CPF-OA if you have sufficient funds in your CPF-OA then.

What will happen to the cash value of my policy if I am deferring my premium for 6 months?

The cash value of your policy will remain unchanged until premium payments resume.

If I surrender my policy during the 6 months deferment period, will I receive a lower cash value?

No, the cash value will remain the same.

My cash benefit is due within my premium deferment period. Will I receive my cash benefit?

If premium is already paid up to the due date of the cash benefit, you will receive full cash benefit (assuming there is no outstanding loan). If your premium is outstanding prior to the pay out of the cash benefit, you will only receive the balance cash benefit after we use the cash benefit to offset the outstanding premium (and outstanding loans, if any).

Can I apply for a policy loan during my premium deferment period?

You can apply for a policy loan as long as your policy is eligible and it has a cash value. Interest is chargeable at 5.50% per annum.

What will happen if I am still unable to pay the outstanding premium after the deferment period ends?

Once the deferment period ends, the policy contractual provisions regarding premium payment will resume. Outstanding premiums will need to be paid in full. Otherwise, the policy may lapse.

Alternatively, you may consider:

Converting the policy to a reduced paid-up;
Advancing your outstanding premiums as an automatic premium loan (APL) but with interest waive; or
Opting for our instalment repayment plan (terms and conditions apply).

Please speak to your advisor on the options available to in your policy.

Normally I would be eligible for life insurance tax relief. Will the deferment of premium mean that I have less relief to claim?

This would be subject to the review by the Income Tax Department. Kindly refer to https://www.iras.gov.sg/IRASHome/Individuals/Locals/Working-Out-Your-Taxes/Deductions-for-Individuals/Life-Insurance-Relief/

What happens if the claim to be made is for premium waiver under my life policy?

We will require premiums to be paid up to date before the waiver of premiums can be processed to be waived from the next premium due date.

Can I/Will Income utilise the claim pay-out from one policy to pay premiums under the other policies?

No. Under Scheme 5, the claim pay-out will be used to offset its outstanding premiums under the same policy if the claim pay-out.

What happens if my IncomeShield claim which is electronically filed by the hospital is rejected during this period?

You may request for the hospitals/clinics to electronically file the claim once the premium has been paid in full.

What are the General Insurance Plans eligible under Scheme 6?

Eligible Personal Lines Plans [Minimum Yearly Premium: $128.40 (including GST)]	Eligible Motor Insurance Plans	Eligible Commercial Lines Plans
PA Assurance, PA Guard, PA Insurance, PAID Insurance, PA Rideguard	Private Car Insurance	Professional Indemnity Insurance, Medical Indemnity Insurance
SilverCare, PioneerCare, MerdekaCare	Motorcycle Insurance	Loss of License
SpecialCare (Autism)/ SpecialCare (Down Syndrome)		Stallholder Insurance
HospitalCare, Cancer Assist
Home/ Enhanced Home
i50 In

My policy is due for renewal soon. What happens if I am unable to pay for the yearly premiums?

For all the Personal Lines products listed above:

If you are paying for your premiums yearly and your policy is expiring soon, you have the option of converting your payment frequency from yearly to monthly. This applies to both recurring credit card and GIRO payment, for monthly premiums which are more than $10.70 (including GST).

I am midway through my policy period of insurance. What happens if I am unable to pay for the monthly premiums?

For PA Assurance, PA Guard, PA Rideguard, SilverCare, PioneerCare, MerdekaCare, SpecialCare (Autism), SpecialCare (DownSyndrome), HospitalCare, CancerAssist and i50 Insurance plans:

If your policy is not expiring so soon, i.e. you still have more than 3 months left in the current period of insurance, you have the option to downgrade your plan to the lowest plan type. We will cancel your existing policy and issue a new one with the lowest plan type. This ensures that you are covered, even though at a lower limit.

I have an existing 3-year Home Insurance plan due for renewal soon. What happens if I am unable to afford the 3-year premiums?

When your current 3-year plan expires, you have the option to convert your home insurance to a 1-year policy with monthly payment, provided your monthly premium is more than $10.70 (including GST). We will still apply the 15% discount to your policy premium for this 1 year.

I don’t think I can continue paying premiums for my Personal Lines policy. What should I do?

If there is no claim (whether pending or paid) under your policy, we will allow you to cancel your policy to get a refund on the balance unused premiums provided it is more than $10.70 (including GST).

Who are the customers that come under Group E?

Customers under Group E are SME Corporate customers who are facing cash flow and financial liquidity difficulties resulting directly from the Covid-19 pandemic.

Note: An SME is a company with:

i) An annual sales turnover of up to S$100m; or

ii) Up to 200 employees.

What are the Income Support Schemes that Group E customers are eligible for?

Group E customers are eligible for Scheme 7 (Special instalment payment programme for Corporate Business Plans) and the details are as follows.

The Scheme offers an eligible customer with a Corporate Business Plan the annual premium to be paid in instalments. An eligible customer have following payment options:

To pay the annual premium in 12 equal monthly instalments by GIRO with the minimum annual premium of $2,400; or
To pay the annual premium in 4 equal quarterly instalments by GIRO.

There is no late payment interest or administrative charges imposed throughout the period of instalment. Any claims admissible during the period of instalment will be paid after all outstanding premium is paid in full.

How do I apply for Scheme 7?

You can apply for the Income Support Schemes either via your Income advisor or complete the online application form at www.income.com.sg/support-scheme. If you need further clarification, please submit your queries via our online form.

All applications must be submitted within the Application Period [01 April 2020, 00:00 to 31 December 2021, 23:59].

Eligible Group E customers are required to provide the relevant documents that will furnish proof of annual sales turnover or company size. Income may also require the SME Corporate customer to submit a temporary bridging loan approval from the customer’s bank or any proof of the customer receiving a loan from the bank resulting directly from the Covid-19 pandemic for Income’s review/consideration.

To qualify for Scheme 7 the plan must be a new annual premium plan purchased or annual premium plan to be renewed between 1 April 2020 and 31 December 2021.

What are the General Insurance Plans that are eligible under Scheme 6?

Eligible Group Business Plans	Eligible Motor Insurance Plans	Eligible Commercial Lines Plans
Medical insurance (e.g. Inpatient & Outpatient, including riders if any)	Motor Fleet	Property, Liability and Casualty Insurances
Life insurance (e.g. Group Term Life, including riders if any)	Commercial Vehicles	Marine Hull & Cargo
Annual Personal Accident insurance (e.g. Group Personal Accident & Group Travel Insurance)	Bus Insurance

How does the instalment scheme work?

You can choose to pay the annual premium in:

Twelve (12) equal monthly instalments either via credit card or GIRO with the minimum annual premium of $2,400; or
Four (4) equal quarterly instalments either via credit card or GIRO.

How do we go about making the instalment payment?

You can make payment via pre-authorised GIRO arrangement with your bank.

Will we be charged interest for the instalment payment?

The instalment payment is offered to our corporate customers free of interest.

Will my company’s claim get paid if we are half-way through the instalment payment?

If the claim is payable, we will offset the outstanding premium and pay you the difference.

Can we still apply for Scheme 6 if my company’s policies have already commenced?

Customers can apply for Scheme 6 for Annual Policies which commence between 1 April 2020 to 31 December 2021.

What happens if my company cannot afford to continue with the instalment payment midway?

Your policy may lapse midway if you are unable to continue with the instalment payment. We will still provide your company cover for the period which premium has been paid for.

If we have further questions, who should we reach out to?

You can email to cline@income.com.sg for assistance.

Eligible Life Insurance Plans & Riders	Eligible Health Insurance Plans
Whole Life Plans, Savings Plans	Integrated Plan and Riders, ElderShield and PrimeShield
Term Plans including the Dependants' Protection Scheme and Affinity Schemes (LUV, SAFRA, HOMETEAMNS, CEGIS, PLUS!)	Co-Pay Assist Plan

Income Support Schemes

Find out which Support Scheme you are eligible for

Group A

Group B

Group C

Group D

Group E

Customers who have an in-force Income Regular Premium Life Insurance plan and do not qualify for Group A’s financial criteria

Customers who are Blue or Orange CHAS cardholders or meet the fixed financial criteria

Customers who own an Income motorcycle insurance plan and have registered the motorcycle for delivery business

Eligible individual customers from the Affected Industries listed below who are facing adverse financial difficulties triggered by the Covered Events resulting directly from the Covid-19 pandemic

SME Corporate customers who are facing cash flow and financial liquidity difficulties caused by the Covid-19 pandemic.

Your policy toolkit.

Policy Conditions

Miscellaneous Download Items

Your queries answered.

Basic Sum Assured	$25K	$50K	$100K	$150K	$200K
Premiums (Aged 40 & below)	$10	$20	$40	$60	$80
Premiums (Aged 41 – 60 years old)	$45	$90	$180	$270	$360

	CHAS Orange cardholder	CHAS Blue cardholder
Household monthly income/person	$1,201 - $2,000	$1,200 & below
Annual Value of Home	$13,001 - $21,000	$13,000 & below

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Income Support Schemes

Find out which Support Scheme you are eligible for

Group A

Group B

Group C

Group D

Group E

Customers who have an in-force Income Regular Premium Life Insurance plan and do not qualify for Group A’s financial criteria

Customers who are Blue or Orange CHAS cardholders or meet the fixed financial criteria

Customers who own an Income motorcycle insurance plan and have registered the motorcycle for delivery business

Eligible individual customers from the Affected Industries listed below who are facing adverse financial difficulties triggered by the Covered Events resulting directly from the Covid-19 pandemic

SME Corporate customers who are facing cash flow and financial liquidity difficulties caused by the Covid-19 pandemic.

Your policy toolkit.

Policy Conditions

Miscellaneous Download Items

Your queries answered.