Many people are confused with the common insurance plans.
Here is a brief description of the various insurance plans provided by NTUC Income. It helps the consumer to decide of the following plans.
Protection - whole life policy to pay the sum assured plus bonus on death
Living - whole life policy to pay the sum assured plus bonus on death or on the confirmed diagnosis of any of 30 dread disease
20 year Term - pays the sum assured on death during the term; policy cease at the end of the term
20 year Decreasing Term - pays the sum assured on death during the term; the sum assured reduces by 5% each year during the term
20 year Living benefit - pays the sum assured on death or occurence of any of 30 dread disease during the term.
To decide on the plan that suits your budget, you need to know approximately how much each plan cost, and the amount of insurance that you can afford.
You can find some sample figures at
Insurance Plans
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