Income Family Micro-Insurance and Savings Scheme

Income Family Micro-Insurance and Savings Scheme

A free insurance scheme developed to assist lower-income households with young children during times of crisis.

Who it covers

Income Family Micro-Insurance and Savings Scheme (IFMISS) covers eligible families with children registered at NTUC’s My First Skool and families receiving financial assistance from the MOE Financial Assistance Scheme (MOE FAS) for Primary Schools.

Income understands the difficulties that a child may go through when death or total and permanent disability occurs to a parent or guardian. When death or disability occurs to a parent or guardian of young children, especially to those who are sole breadwinners of their families, those from disadvantaged backgrounds often are the hardest hit. Income knows that low-income families face real challenges in setting aside savings, and in a family crisis, every dollar counts.

As such, we have developed the Income Family Micro-Insurance and Savings Scheme (IFMISS) to offer tangible support to pre-school and primary school children from disadvantaged backgrounds in such times of need. This Scheme dovetails the efforts of the Ministry of Education and schools to encourage children to save. Income hopes to highlight the importance of savings and hopes that the dollar-for-dollar savings matching will encourage low-income families to save and aim to be more future-ready.

What it provides

In the unfortunate event of death or total and permanent disability (TPD) of a parent or guardian, IFMISS offers a pay-out of $5,000 to help the family cope financially during this difficult period, upon approval of the claim. Income also offers an additional pay-out (capped at $5,000) that matches the collective bank balances of the parent/guardian and his/her family unit.


  • The parent(s)/guardian(s) of a family receiving assistance under the MOE FAS (Primary School) or NTUC's My First Skool will be automatically enrolled and covered under IFMISS.
  • The insured must be aged between 16 and 65 years old (age next birthday).
  • The Scheme allows each family to submit only one claim per calendar year.

Frequently asked questions

For enquiries

For more details and assistance, call our customer service hotline:
6332 1133