Ntuc Income has just soft launched a NEW limited payment premium Living Policy on Jan 2007.
One can choose to pay premium for 20 years or up to age 64 and policy will continue to cover wholelife without further premiums to be paid.
Many realise the reality of covering the 30 critical illness when one reach latter years. Some realise the importance of such policy after a family member or friend contracted the disease, eg, heart attack, cancer, stroke, etc.
You can read the term and condition of cover for the Limited Payment Living Policy by clicking the link to LPLP.
For young children
This LPLP policy is good for the young child. Why? Let me explain.
Many parents today like to start insurance coverage early for their children to hand over the policy to them when they reached their adulthood and thinking that premium is low when taken up at young age, yes true.
This 20 years Limited Premium Living Policy, when the baby reached adulthood, premium is FULLY paid, and policy will continue to cover the child wholelife without having to pay premiums after 20 years.
This is as good as letting the insurer carry the baby.
The child will also be thankful that the parent did not hand over a burden for him to continue to pay insurance premium after 20 years. This grown up child will enjoy wholelife coverage thanking the parents for having started it for them.
Young working adults may also want to consider this plan as it is limited payment covering wholelife. Refer to the link to Limited Premium Living Policy
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