Safeguarding one’s financial future is a priority for most of us. Enter the NTUC Income Star Secure Pro, a whole life insurance plan that offers a robust shield of protection for you and your family in challenging times. This updated version of the popular NTUC Income Star Secure, has consistently been considered among Singapore’s top whole life insurance plans.

NTUC Income Star Secure Pro’s hallmark is its flexibility and optional benefits, encompassing the standard insurance coverage and extending to premium payment waivers in unpredictable circumstances. This tailor-made plan empowers you to choose the protection level and premium payments that cater to your specific needs.

Eligibility and Premium Terms

The entry age for the policyholder is set at a minimum of 16 years old, with premium terms spanning from 5 to 30 years, depending on your preference. You have the flexibility to make premium payments every 1, 3, 6, or 12 months throughout your chosen premium term.

Policy Surrender Value

An appealing feature of the NTUC Income Star Secure Pro is the policy’s surrender value, readily available should you require urgent cash flow during the policy or premium term. However, terminating the policy prematurely can invite significant costs, emphasizing the necessity to maintain ample savings or liquid assets before undertaking such a long-term insurance commitment.

Comprehensive Coverage

The NTUC Income Star Secure Pro provides comprehensive coverage for death, terminal illness, and total and permanent disability. In the unfortunate event of death, your beneficiaries will receive either 100% of the sum assured and bonuses or the minimum protection value, whichever is higher. In the case of terminal illness or total and permanent disability, the policy offers payouts under specific conditions.

A unique accidental death benefit is available, providing an additional payout if the insured tragically passes away within 365 days of turning 70 due to an accident. Note, however, that there is a cap on the total accidental death benefit payable from all NTUC Income policies.

Coverage Multiplier: Tailored for Your Life Stages

One of the core features of the NTUC Income Star Secure Pro is the coverage multiplier. This handy provision enables you to escalate your coverage during your working years, which can be reduced later on to lower your premiums. This flexibility ensures you have appropriate coverage for various life stages.

Additional Benefits and Optional Riders

The policy also bundles benefits such as retrenchment protection, family waiver, and optional riders for critical illness coverage. The retrenchment benefit waives premium payments for 6 months if you experience job loss, while the family waiver benefit covers premium payments and furnishes a lump sum payment if a family member, unfortunately, passes away or suffers from a terminal illness or total and permanent disability.

Moreover, the NTUC Income Star Secure Pro extends optional riders for advanced critical illness and early critical illness coverage. These riders offer added benefits for a diverse range of critical illnesses and early-stage diseases.

Fund Performance and Expense Ratio

The premiums for the NTUC Income Star Secure Pro are strategically invested in a participating fund helmed by external fund managers. The fund’s performance has remained steady over the years, with an average investment rate of return of over 5% across the past 3, 5, and 10-year periods.

Additionally, the fund has routinely maintained a low total expense ratio, thereby ensuring a larger share of your premiums is invested in the fund’s assets, minimizing unnecessary expenditures.

FMS Take on NTUC Income Star Secure Pro

In conclusion, the NTUC Income Star Secure Pro is a comprehensive whole-life insurance plan that offers financial protection under a multitude of circumstances. It furnishes flexibility in premium payments, coverage multipliers, and optional riders for added benefits. The participating fund has demonstrated strong performance, and the low total expense ratio ensures your premiums are invested wisely.

Nevertheless, it is prudent to compare different policies and seek advice from a financial advisor to find the best plan tailored to your needs. At FMS, we strongly believe in investing in dividend funds to create a passive income stream. For instance, many of our clients invest $2,000 per month for 10 years at a yield of 6%. In 10 years, their portfolio would grow to $305,000, and they would be able to collect $18,300 every year in dividends.

This strategy has worked for hundreds of our clients, with some earning as much as $39,600 per year. If you’d like to learn how to create passive income using dividend funds, you can book a call with Ben and explore your options.

It’s crucial to make informed decisions about your financial future, and subscribing to our financial insights can make you a better investor. Our guide on how to build passive income is also an excellent starting point for beginners, and our tips on unlocking passive income for retirement can help you secure a comfortable post-retirement life.

If you’re considering investing in property as a part of your financial plan, we have comprehensive guides on buying luxury spacious HDB flats for large families, a complete guide on buying rental property in Singapore, and even a list of the top 5 affordable 3-bedroom resale units in Singapore under 1 million.

No matter what your financial goals are, the NTUC Income Star Secure Pro can provide the solid foundation you need. Protect your future today and reap the rewards tomorrow.

Benjamin Low
Benjamin Low

Benjamin is known as The Passive Income Guy. He has helped hundreds of people to build passive income. He is also a member of the Million Dollar Round Table, and Certified Financial Planner™ (CFP®) and Certified Private Banker (CPB).

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