Income Travel Insurance: Is It a Good Deal?
Income Travel Insurance: Is It a Good Deal?
ValueChampion Rating 
Pros
- Covers pre-existing conditions
- Provides COVID-19 hospitalisation and evacuation coverage for certain countries
Cons
- Expensive, especially annual plans
- Low personal accident and medical benefits
Like many other insurers, NTUC Income offers three levels of travel insurance policies to cater to the tastes and budgets of all kinds of consumers. Ultimately, its plans tend to be priced quite close to the industry average and feature a medium degree of coverage in most areas with two main weak points. While Income's plans are priced fairly given the level of coverage provided, deal-seekers will not be particularly wowed. However, Income's travel insurance policies stand out because they are one of the only insurers in Singapore that cover pre-existing medical conditions.
| Summary of Income Enhanced Travel Insurance |
|---|
| Low coverage for personal accident/death & medical expenses and medium coverage in other areas for prices close to the industry average |
| Pre-X plans cover pre-existing conditions |
| Annual plans generally cost above average |
| Provides COVID-19 hospitalisation and evacuation coverage for certain nations (up to US$100,000 individual or US$300,000 family) |
| Promotion: |
Table of Contents
- Income Enhanced Travel Insurance: What You Need to Know
- Income Enhanced PreX Travel Insurance
- Sports Coverage
- Claims & Contact Information
- Income Coverage & Benefits
NTUC Income Travel Insurance: What You Need to Know
NTUC Income's travel insurance plans are best for travellers who aren't price sensitive and want coverage for their pre-existing conditions. You can choose from 3 tiers of plans for both the Enhanced and Enhanced PreX plans: Classic, Deluxe and Preferred for the standard plans and PreX Basic, PreX Superior & PreX Prestige for the pre-ex coverage plans. We found that Income's single trip plans generally cost 15-30% below average compared to its competition, while its annual plans cost between average to 20% above average. For those prices, the coverage is more competitive when it comes to travel inconvenience benefits (cancellations, delays, luggage loss), but sinks to below average overseas medical and personal accident coverage.
NTUC Income offers the standard array of travel insurance benefits, ranging from medical and personal accident to trip inconvenience benefits like trip cancellation, postponement, delays and baggage loss. While most of the benefit limits are slightly below average, Income does boast above average limits for medical coverage in Singapore, trip delay and baggage loss coverage. However, these plans may fail to impress some types of travellers. For instance, Income's Basic plan provides average levels of coverage but won't impress budget travellers since its possible to find cheaper basic plans. The premium tier plan (Preferred) boasts above average coverage for a small amount of benefits, but won't stand out to travellers who equate premium-level plans with market beating coverage.
Income's annual policies cost above average for all 3 plans, so it won't be the best option for frequent travellers who are hoping to save on an annual travel insurance plan. However, as Income is the only insurer that is currently providing COVID-19 medical and hospitalisation coverage as long as you take the mandatory PCR test and test negative pre-departure and won't be travelling to a high-risk nation, it is the best option for travel during the COVID-19 period. Overall, Income's travel insurance plans are just enough for the average traveller and can provide sufficient additional coverage if that traveller needs coverage for pre-existing coverage. Otherwise, Income's Enhanced travel insurance plans may not sway budget travellers or travellers who like high levels of coverage.
Notable Exclusions
NTUC Income only covers pre-existing conditions if you purchase their Enhanced PreX plans. Besides that, the exclusions are pretty standard, including no cover for travelling for medical conditions, items lost or damaged while unattended, travelling to participate in professional or compensated sports, being a victim of war, riots, or rebellion and travelling against the advice of the Singapore Government.
| Medical Exclusions | Trip Inconvenience Exclusions |
|---|---|
| Pe-existing conditions (unless insured under PreX plan) | Engaging in sport for compensation |
| Pregnancy-related events | Items taken by customs officials |
| Suicide and mental illness | Baggage sent separately or items left unattended |
| Cosmetic or elective surgery | Fragile articles, business goods, sports equipment |
| Travelling when you are medically unfit | Inability to travel due to business or contractual obligations |
| Metastatic or terminal illness | Extreme sports (bungee jumping, skydiving, mountaineering, etc.) |
NTUC Income Enhanced PreX Plans Travel Insurance
If you are not limited by budget and just want a plan that will give you ample protection for your pre-existing coverage, Income will be a good choice. However, budget travellers with pre-existing conditions may find Income to be an expensive option. We found that Income's PreX travel insurance plans cost around 3 times as much as Income's standard plans, making them quite expensive considering that Income isn't competitively priced to begin with. As one of the 3 insurers who provides extensive coverage for your pre-existing coverage, it settles somewhere in the middle, with MSIG's plans costing 10-22% less but Etiqa's Tiq plans costing around 15% more.
Besides the pricing, you should also consider the extent of Income's pre-existing coverage benefits. Its PreX plans also combine medical and emergency evacuation coverage under one limit, which brings down the value of these plans considerably (for instance, MSIG's PreX and Tiq's PreX plans have separate limits for medical and emergency evacuation, resulting in more coverage than Income). On the other hand, Income does let you claim for trip inconvenience (cancellations and postponement) due to your pre-existing conditions if you buy its Superior or Prestige plans, which can be a useful benefit for people who book their trips far in advance and have somewhat risky conditions. You should just be aware of the 50% copay you'll be responsible for should you use those benefits.
| Premiums & Benefits | PreX Basic | PreX Superior | PreX Prestige |
|---|---|---|---|
| 1-Week ASEAN | S$102.00 | S$128.00 | S$149.00 |
| 1-Week Asia | S$121.00 | S$156.00 | S$183.00 |
| 1-Week Global | S$194.00 | S$240.00 | S$277.00 |
| Medical Coverage (for pre-ex condition) | S$150,000 | S$150,000 | S$300,000 |
| Emergency Evacuation | Combined w/ medical | Combined w/ medical | Combined w/ medical |
| Personal Accident | S$200,000 | S$200,000 | S$500,000 |
| Trip Cancellation | S$10,000 | S$10,000 | S$15,000 |
| Trip Delay | S$1,500 | S$1,500 | S$2,000 |
| Baggage Loss/Damage | S$5,000 | S$5,000 | S$8,000 |
| Premiums & Benefits | PreX Basic | PreX Superior | PreX Prestige |
|---|---|---|---|
| 1-Week ASEAN | S$102.00 | S$128.00 | S$149.00 |
| 1-Week Asia | S$121.00 | S$156.00 | S$183.00 |
| 1-Week Global | S$194.00 | S$240.00 | S$277.00 |
| Medical Coverage (for pre-ex condition) | S$150,000 | S$150,000 | S$300,000 |
| Emergency Evacuation | Combined w/ medical | Combined w/ medical | Combined w/ medical |
| Personal Accident | S$200,000 | S$200,000 | S$500,000 |
| Trip Cancellation | S$10,000 | S$10,000 | S$15,000 |
| Trip Delay | S$1,500 | S$1,500 | S$2,000 |
| Baggage Loss/Damage | S$5,000 | S$5,000 | S$8,000 |
Sports Coverage
Income includes medical coverage for adventure and sports including skiing, scuba-diving, white water rafting and motorcycling. There's no golf coverage and no cover for extreme sports such as bungee jumping, skydiving and mountaineering.
Claims & Contact Information
Income lets you submit your claim online or via post. Both options require you to submit the proper documentation, which they list when you indicate the type of claim you want to submit. You should read the policy wording before buying the policy so you are aware of what you can and can't claim for.
| Contact Information | |
|---|---|
| Customer Service | (65) 6788 1222 |
| 24-Hour Emergency Assistance | (65) 6338 1222 |
| Claims Number | (65) 6788 6616 |
| Claims Email | [email protected] |
| Address | Property & Casualty Claims Income, PO Box 0132, Singapore 911802 |
| Claims | Submit Your Claim |
Summary of NTUC Income Travel Insurance Benefits & Coverage
With so many options for travel insurance plans in Singapore, it's no wonder that picking the right one for your next business trip or holiday can seem like a daunting task. Below, we've compiled a summary of NTUC Income's premiums and coverage and how it compares to the industry average. If you'd like to learn more about how Income compares to other insurers, you can read our top picks for the best travel insurance plans in Singapore.
| Classic | Deluxe | Preferred | Industry Avg. | |
|---|---|---|---|---|
| 1-Week ASEAN | S$102.00 | S$128.00 | S$149.00 | S$48.00 |
| 1-Week Asia | S$121.00 | S$156.00 | S$183.00 | S$59.00 |
| Annual Asia | S$536.00 | S$704.00 | S$834.00 | S$264.00 |
| 1-Week Global | S$194.00 | S$240.00 | S$277.00 | S$83.00 |
| Annual Global | S$811.00 | S$1,035.00 | S$1,209.00 | S$362.00 |
| Personal Accident & Death | S$150,000 | S$200,000 | S$500,000 | S$261,588 |
| Medical | S$250,000 | S$500,000 | S$1,000,000 | S$598,140 |
| Medical (COVID-19) | US$100,000 | US$100,000 | US$100,000 | N/A |
| Emergency Medical/Evacuation/Repatriation | S$500,000 | Unlmtd | Unlmtd | S$772,727 |
| Evacuation (COVID-19) | US$100,000 | US$100,000 | US$100,000 | N/A |
| Trip Cancellation | S$5,000 | S$10,000 | S$15,000 | S$10,224 |
| Trip Delays | S$1,000 | S$1,500 | S$2,000 | S$1,087 |
| Baggage Loss Damage | S$3,000 | S$5,000 | S$8,000 | S$5,082 |
| Baggage Delay | S$1,000 | S$1,200 | S$2,000 | S$998 |
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Anastassia is a Senior Research Analyst at ValueChampion Singapore, evaluating insurance products for consumers based on quantitative and qualitative financial analysis. She holds degrees in Economics and International Business Management and her prior working experience includes work in the capital markets sector. Her analyses surrounding insurance, healthcare, international affairs and personal finance has been featured on AsiaOne, Business Insider, DW, Vice, Her World, Asia Insurance Review, the Australian Institute of International Affairs and more.