NTUC Incomeshield Review – NEW increase price for PLUS rider!

Last updated on June 28th, 2019 at 10:03 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.

Hopefully premium hikes will slow down soon.

Do read to the end for my tip on the NEW NTUC CLASSIC RIDER.


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.


NTUC Incomeshield has good claims service

Below is the claims service declared on Ministry of health comparison of integrated shield plan (click to see link)

I’ve personally claimed for private clients from NTUC Incomeshield before, including pre/post hospital benefits.

Service has been good.


If you need advice on NTUC INCOMESHIELD or need help on your current policy,

contact me at josh.tan@promiseland.com.sg

NEW RIDER UPDATE: NTUC Incomeshield Classic rider

The Classic rider requires co-payment of 10%. It replaces the previous Assist rider.

If you are looking to downgrade from Plus rider, do consider this option.

Premiums are significantly less.


If you need advice on NTUC INCOMESHIELD or need help on your current policy,

contact me at josh.tan@promiseland.com.sg


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://theastuteparent.com/josh-tan Practising financial planner with Promiseland Independent Pte Ltd. EXPERIENCE: More than 13years. Josh Tan is a young parent, speaker, author and founder of TheAstuteParent.

2 responses to “NTUC Incomeshield Review – NEW increase price for PLUS rider!”

    • Hi Rachael, speak to your adviser because there are pros and cons. The downgrade is one way. Classic rider is offered now which is 10% co-payment. Cya also at VIDEO ON HOW TO SAVE PREMIUMS ON LIFE INSURANCE => https://youtu.be/a1zbcWu-VZc

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