Reserved Shopping Voucher Programme

TERMS AND CONDITIONS

1. Subject to these Terms and Conditions, Income Insurance Limited (“Income”) is offering the following promotion(s) (the “Promotion”) to policyholders invited to participate in the Reserved Shopping Voucher Programme (collectively the “invited policyholders”, and each an “invited policyholder”):
   • Each invited policyholder shall be eligible to receive FairPrice vouchers (the “Vouchers”) from Income in the amounts set out in the table below with the purchase of any of the policies set out in the table below (collectively the “Qualifying Policies”, and each a “Qualifying Policy”), the applicable Voucher amounts being (i) determined in accordance with the product category of Qualifying Policy/Policies purchased by a invited policyholder, and (ii) calculated as a percentage of the premium of Qualifying Policy/Policies purchased by the invited policyholder, and (iii) rounded up to the nearest multiple of five (5), provided that each invited policyholder shall be eligible to receive a maximum of $600 worth of Vouchers under this Promotion:

• All applications for Qualifying Policy/Policies must be submitted by invited policyholders through an Income General Insurance Specialist and received by Income within a 12-month period beginning at the start of the month in which they first receive a telephone call from Income in respect of the Promotion (the “Promotion Period”), as illustrated below:

Illustration

• • Invited policyholder A first receives a telephone call from Income in respect of the Promotion on 1 January 2024. The Promotion Period for invited policyholder A shall be 1 January 2024 to 31 December 2024.
  • Invited policyholder B first receives a telephone call from Income in respect of the Promotion on 22 October 2024. The Promotion Period for invited policyholder B shall be 1 October 2024 to 30 September 2025.
• Where applications for Qualifying Policy/Policies submitted by invited policyholders are accepted by Income, the said Qualifying Policy/Policies must be issued by Income within the applicable Promotion Period;
• Premium payment for Qualifying Policy/Policies applied for and issued must be on an annual basis mode; and
• The first premium payable for each Qualifying Policy applied for and issud must be paid for by invited policyholders and received  by Income during the Promotion Period. 

2. For the avoidance of doubt, the Promotion is offered only to invited policyholders and invited policyholders may not extend the offer of the Promotion to any other persons.
3. The Promotion may not be enjoyed in conjunction with any other consumer promotions made available to members of the public at https://www.income.com.sg/ unless otherwise advised by Income at the point of application. For the avoidance of doubt, all group insurance/employee benefits schemes are excluded from the Promotion.
4. The Promotion does not affect or change any term, condition, and exclusion of the policy contract of the Qualifying Policies issued. The precise terms, conditions and exclusions of the Qualifying Policies are specified in their respective policy contracts.
5. Subsequent increase(s) in sum assured and/or premium amount, top-ups, or applications for riders in respect of Qualifying Policy/Policies, even if effected during the Promotion Period, shall not entitle an invited policyholder to additional Vouchers. 
6. An invited policyholder who applies for Qualifying Policy/Policies within 90 days from the date of expiry or cancellation of any same existing/in-force Qualifying Policy/Policies with Income will not be eligible to enjoy this Promotion.
7. Income reserves the right to demand from an invited policyholder the full value of the Vouchers received by the invited policyholder for the purchase of Qualifying Policy/Policies under this Promotion where such Qualifying Policy/Policies are issued but terminated or lapsed within 6 months from the policy issue date by the invited policyholder, and the invited policyholder shall immediately pay Income such amount demanded. The full value of the Vouchers refers to the stated worth price or the face value of the Vouchers.
8. Income will issue the Vouchers to invited policyholders two (2) months after the Qualifying Policy/Policies issuance date, provided that the Qualifying Policy/Policies is/are in-force as of that date. The Vouchers will be mailed to policyholders at their last address in Income’s record.
9. The Vouchers are not exchangeable for cash or any benefits-in-kind.
10. Income reserves the right to replace the Vouchers with item(s) of similar value (“Replacement Item(s)”).
11. Usage of the Vouchers and/or Replacement Item(s) shall be subject to terms and conditions imposed by the merchant or manufacturer of the Vouchers and Replacement Item(s).
12. Under no circumstances shall Income be liable to any customer or party, whether in contract, tort (including negligence) or otherwise, for any liabilities, losses, damages, claims, costs and expenses (including any special or consequential damages or losses) in connection with, related to or resulting from the Promotion and/or use of the Vouchers and Replacement Item(s).
13. Income is not the merchant or manufacturer of the Vouchers and Replacement Item(s) and provides no warranty in respect of the same. Income makes no warranties and shall not be responsible for all warranties, expressed or implied, including implied warranties of merchantability, fitness for a particular purpose, and against infringement of intellectual property rights in respect of the Vouchers and Replacement Item(s).
14. No joint venture, sponsorship, tie up, agency or any other relationship is intended or created between Income and merchant or manufacturer of the Vouchers and Replacement Item(s). Neither is this Promotion intended or deemed to be a connection with or use of the brand name of the merchant or manufacturer of the Vouchers and Replacement Item(s).
15. Income reserves the right to modify, vary and/or amend the Terms and Conditions of this Promotion at any time without prior notice to invited policyholders.
16. Income’s decision on all matters relating to this Promotion (including the issuance of the Vouchers or Replacement Item(s)) shall be final, conclusive and binding. No appeals will be entertained. 

Important Notes:

For enquiries on the Promotion, you may reach out to Income via telesales@income.com.sg. 

All of Income’s products are developed to benefit our customers but not all our products may be suitable for your specific needs. If you are unsure if a product is suitable for you, we strongly encourage you to speak to a qualified Income insurance advisor. Otherwise, you may end up purchasing a product that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you seek.  If you find that this plan is not suitable after purchasing it, you may terminate it within the free-look period, and obtain a refund of premiums paid. We may recover from you any expense incurred in underwriting this plan (subject to the respective products’ terms and conditions).

Applicable for products that fall under the Policy Owners’ Protection Scheme

These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Income or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).

Information is correct as at 01 July 2024.