NTUC Incomeshield Review – NEW increase price for ASSIST rider and PLUS rider again!

Last updated on February 4th, 2019 at 07:27 am

Do you use the NTUC Incomeshield Preferred plan? These changes are impending.

As reported in a recent straits times article in 2018, six insurers offering such plans suffered underwriting losses last year – their second straight year in the red. This was despite all of them raising premiums already.

NTUC Income is no exception.

I’m a distributor of the NTUC incomeshield but more importantly, a concerned policyholder at this moment.

Will premium hikes slow down soon?


I’ve suspected a huge jump overall in rates over the last few years.

This was in Sep2016:

For age 1, the plus rider rates was raised to $298

This was a year after medishield life.

Then in Mar2018 another round of increment was announced.

Massive increments of around 20-40% for the Plus rider.


The NTUC incomeshield plan itself also saw premium increments.

Then From 1Mar2019, Plus rider premiums (For PREFERRED PLAN ONLY) will increase again!

A 20-60% increment!

Check the jumps for the older age groups. OMG…

Note: Advantage plan and Basic plans were not affected in this round unlike the previous rounds.

In summary, the NTUC Incomeshield “Preferred plan plus rider” premium rates

For age1 – raised to $298 then to $412 then now to $490.

For age 61 – raised to $1,089 then to $1,666 then now to $2,832. A 260% increment….

This is getting hard to accept.

But all insurers have raised premiums and some will have plans to do so this year.

We should all be concerned that medical overconsumption is still an issue to all.

NTUC Incomeshield has improved its benefits significantly!

A factor in this round’s massive increment is due to the improvements in limits for pre/post hospitalisation.

It has been increased from 90days/90days to 180days/365days for the preferred plan.

This was where NTUC Incomeshield ranked previously.

A second factor is the policy limit has been increased to $1.5m from $1m.

These increments have put the NTUC Incomeshield benefits in line with the best of the shield plans out there.


NTUC incomeshield has adopted a panel specialist method.

In July2018, a strategic partnership with Raffles Health Insurance will provide a panel comprising over 200 medical specialists in private practice across multiple specialty areas. Check this link for details.

In my opinion, this may be an attempt to rein in ballooning claims bill.


I’ve advocated using the NTUC Incomeshield Assist rider over the Plus rider.

The assist rider requires co-payment of 10%.

The plus rider (which will be modified soon to comply with the new MOH guidelines of 5% co-payment for new applications) is a full cover plan.

Although the Preferred plan assist rider also saw premium increments, it is around the 20%-30% range.

For age1, assist rider premiums of $254/y will now increase to $310/y.

In the absolute premium amount, still more manageable.

You can check this post for more analysis.




The views and opinions expressed in this article are those of the author and do not represent the views of any other organisation.

Josh Tan Jian Liang (CHFC) Principal Author

REVIEWS: https://www.josh-tan/wall-of-reviews. COMPANY: Promiseland Independent Pte Ltd. EXPERIENCE: 11years.

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