The latest joint initiative by NTUC and NTUC Income aims to help cushion the rising cost of living for members
Singapore, 4 August 2022
– To help cushion the rising cost of living for NTUC members, NTUC has partnered NTUC Income (Income) to launch exclusive year-long discounts and vouchers for NTUC members. For the first time ever, NTUC members can enjoy these exclusive discounts, and other preferential rates, on an evergreen basis when they purchase Income insurance products through the newly revamped all-in-one MyNTUC mobile application. These exclusive deals can be stacked with other promotions that Income is currently running when insurance products are purchased through the MyNTUC mobile application.
NTUC members can expect to enjoy the following perks and benefits when purchasing eligible Income products under the Life Insurance and General Insurance categories via the MyNTUC mobile application:
• Life Insurance: FairPrice vouchers up to $600
• General Insurance: Up to 15% discount for the first year, for new policy sign-ups
Refreshed with an improved user experience and exciting new features, the revamped MyNTUC mobile application is a one-stop platform for all Union Members’ insurance needs. Through MyNTUC, members will have easy access to professional financial advice with a trusted Income advisor. Members also stand to enjoy exclusive NTUC FairPrice e-vouchers with the purchase of Income’s range of Life Insurance products, access various financial services, and easily browse and purchase insurance policies across a comprehensive suite of affordable financial products and services.
Quah Chee Seng, Vice President, Digital Transformation, NTUC Income shared, “Through the revamped MyNTUC app, we are able to integrate our digital capabilities to provide more than 500,000 NTUC members seamless access to insurance offerings as well as connect with Income advisors to help them with their financial planning needs. We are constantly looking out for like-minded partners to embed insurance in their ecosystems to make insurance more accessible to more people.”
More details are in the Annex.
Helping NTUC Members Cope with Rising Cost of Living
Mr Steve Tan, Director of NTUC’s Membership Services Division, said, “As we recover from COVID-19, we also hear growing concerns from the ground regarding the rising cost of living. NTUC and its social enterprises (SEs) remain committed to helping our members with that. This collaboration with NTUC Income follows other SE initiatives such as discounted F&B or essential items by NTUC FairPrice Group. We will continue to work closely with NTUC Social Enterprises to serve the needs of our members.”
NTUC Social Enterprises were set up with the social mission of ensuring that workers and their families have accessible, affordable and quality goods and services through three key areas: to set price benchmarks to moderate prices, step up during times of need to help workers tide over challenging times, and offer everyday to keep costs manageable.