Your premiums are used to pay for commissions, claims and other expenses involved in administering your policy*. 

 

  2020 2023
Claims 83% 82%
Commissions and distribution 6% 6%
Management expenses 8% 9%

 

The cost of claims would change depending on the claim size and number of claims submitted by policyholders. In the past 3 years, the average bill size has increased by 9%** and 7%** in the public and private healthcare institutions, respectively. The number of claims submitted per policyholder has also increased by 20%**. 

My age (as of next birthday):

years old

My nationality:

I am covered under:

with

Policy Renewal Date

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You may refer to MOH’s website for a comparison of Integrated Shield Plans (IPs) across all insurers, including the estimated premiums you have to pay for an IP over your lifetime.

 

You may view full premium table here for premium rates that will take effect when you renew your IncomeShield policy and rider add-ons on or after 1 September 2024. 

For Public officers, the full premium table can be viewed here. 

SG: Singapore Citizen; PR: Singapore Permanent Resident; FR: Foreigner

 

* Based on all-long term accident and health plans, including IP and riders. All figures are net figures.

** Reflects the change over 3 years from 2020 to 2023.

 

1 There is no maximum entry age for IncomeShield Standard Plan. The last entry age is 75 (insured’s age at next birthday) for all other IncomeShield Plans and riders attachable to IncomeShield Standard Plan.

The above premium rates apply to policies starting from 1/9/2024 and are inclusive of GST (based on 9% GST for 2024) unless otherwise stated in our letter to the policyholder. Premiums can be paid by cash only (via ePayment Services). For the range of payment modes available, please refer to income.com.sg/ppm. Yearly premiums are based on the insured's age at next birthday, and will increase when the insured reaches the next age band. Premium rates are non-guaranteed and may be reviewed from time to time. This premium change calculator is for general information only. The calculator projects the premium amount you may require to pay based on the assumptions you selected. Income does not assume liability for your reliance on the calculator. 

Information is correct as at 29 July 2024.

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