Life Insurance
Overview
Star Secure Pro is Income Insurance’s flagship whole‑life policy. It protects you against death, total & permanent disability (TPD) and terminal illness, while letting you “multiply” your cover to as much as 500 % of the basic sum assured until age 75 or 80. Riders can extend protection to 152 dread‑disease and mental‑health conditions, future unknown diseases, and even pay daily hospital cash.
Benefits Snapshot
| Core Benefit | What You Receive | Notes |
|---|---|---|
| Death / TI / TPD | Higher of (i) sum assured + bonuses or (ii) chosen Minimum Protection Value (MPV 100‑500 %) before age 75/80 | Full sum assured + bonuses thereafter |
| Accidental Death | Extra +30 % of sum assured (10 % if a restricted activity) up to age 70 | Paid on top of death benefit |
| Family Waiver | Future premiums waived + lump‑sum 24 months’ premium if spouse/parent dies, is terminally ill or TPD (before age 70) | Reduces financial strain during crises |
| Retrenchment Waiver | Up to 6 months of premiums waived if you remain unemployed ≥ 3 months after retrenchment | One‑time claim |
Optional Riders
| Rider | Key Pay‑outs | Why Add It? |
|---|---|---|
| Advanced Life Accelerator | 100‑500 % SA for 56 critical illnesses + 20 % SA for Major Impact Benefit (ICU ≥ 5 days / future unknown disease) | Broad late‑stage CI cover & “unknown disease” buffer |
| Early Life Accelerator | Up to S$350k for early & intermediate CI, 30 % SA for 15 special/mental conditions, 20 % SA restoration & special‑therapy payouts | First‑in‑SG cover for cell/gene‑therapy‑eligible cancers |
| Hospital CashAid | 1× SA per ward day, 2× SA ICU, 10× SA once‑per‑year for ICU ≥ 5 days, + recovery cash | Defrays non‑medical costs during long stays |
MPV and rider sums are accelerated—any claim reduces future cover by the same amount.
Plan Flexibility
-
Choose your MPV level (100 – 500 %) and the cut‑off age (75 or 80).
-
Pick a premium term: 5, 10, 15, 20, 25, 30 years – or pay up to age 64. Premiums are level and guaranteed during the chosen term.
-
Scale up later: Star Secure Pro lets you top‑up coverage or attach riders at future anniversaries (health assessment may apply).
At‑a‑Glance Eligibility & Limits
| Item | Details |
|---|---|
| Entry age (insured) | 0 – 74 last birthday (MPV options vary); coverage renews for life |
| Nationality / residence | Singapore Citizens, PRs, and pass‑holders; overseas cover allowed ≤ 180 consecutive days |
| Sum assured | S$ 15,000 (min.) – no stated maximum; medical underwriting applies above insurer limits |
| Policy type | Participating – receives annual & terminal bonuses from Income’s Life Participating Fund |
Exclusions & Key Clauses
-
Suicide within 1 year → refund of premiums only.
-
No TI/TPD pay‑out for self‑inflicted injury, unlawful acts, or alcohol/drug influence.
-
Accidental‑death add‑on not paid if accident occurs after > 180 consecutive days abroad, or from war‑like operations.
-
TPD aggregate cap across Income policies: S$6.5 million.
Illustrative Scenario
Mr Lim, 28, non‑smoker chooses SA S$100k, MPV 300 % to age 75, 20‑year premium term. He adds Advanced Life and Early Life riders (SA S$100k & S$50k).
Early‑stage colon cancer at 36 → S$150k rider pay‑out.
Wife diagnosed TI at 39 → premiums waived + S$9k cash (Family Waiver).
Unknown disease ICU 7 days at 50 → S$30k Major‑Impact pay‑out.
Advanced lymphoma at 60 → S$180k combined CI benefits.
Total received: S$369,035. Income
Frequently Asked Questions
| Question | Short Answer |
|---|---|
| Can I reduce MPV after purchase? | No – MPV % and age cut‑off are fixed once selected. |
| Do bonuses stop after an accelerated CI claim? | Bonuses continue to accrue on the reduced balance. |
| Is mental‑health cover automatic? | Only with Early Life Accelerator rider; covers five named conditions up to age 75. |
| What happens if I’m retrenched twice? | Retrenchment waiver is claimable once per policy. |
| Can I surrender early? | Yes, after 1–2 years of premiums (term‑dependent), but cash value may be less than premiums paid. |
Making a Claim
-
Notify Income within 6 months of diagnosis / event (30 days for accidental claims).
-
Upload required documents via the online Life & Health portal.
-
Payouts are typically processed once all paperwork is complete; loans or unpaid premiums are netted off first.