What is SNACK?
SNACK is a mobile application that embeds the purchase of micro-insurance into your lifestyle. You can link daily activities in your life to the purchase of micro-insurance, building up coverage while having the flexibility to manage your own protection portfolio.
You'll be able to choose from a range of micro-insurance products, namely: Life, Personal Accident and Critical Illness insurance. SNACK is developed by NTUC Income, a Direct Insurer (composite) licensed by the Monetary Authority of Singapore.
How does SNACK work?
SNACK offers you the convenience of purchasing a micro-insurance policy whenever you perform a daily activity, or what we call a 'lifestyle trigger'. These daily activities can include petrol top-ups, groceries, dining out or just hitting your daily steps goal.
Whenever an activity is completed, a micro-insurance policy will be issued and the premium will be charged to your selected payment mode on SNACK. Your coverage grows each time you complete a trigger, and your total coverage amount is the sum of all your effective policies at that point in time.
How is Revolut working with SNACK?
Revolut is working with SNACK to roll out lifestyle based insurance to all Revolut customers. SNACK is offering a one-time free $500 insurance coverage to all Revolut customers who successfully register on SNACK.
How do I get my free $500 insurance coverage?
Follow the steps listed on the website above to register on SNACK and link a lifestyle trigger to your selected insurance product.
Add Revolut card on checkout, and key in REV250 under the promo code. You will receive $500 free coverage in the first week of the upcoming month!
How long does the $500 free insurance coverage last?
It lasts for 360 days. For example, if we issue you a $500 free Accident coverage on 9 October 2020 after you’ve successfully linked a trigger to the Accident product, this $500 free Accident coverage will be valid for 360 days until 4 October 2021.
Even if you remove or edit your lifestyle triggers during this period, your coverage will still be valid as long as it’s within this 360-day period.
What are the products on SNACK?
There are currently 3 products on SNACK – Personal Accident, Term Life and Critical Illness coverage. You can download the SNACK app or visit snackbyincome.sg/products to read more about the products!
Do I need to pay to sign up for SNACK?
Nope! It’s entirely free to sign up for an account on SNACK.
How much are the premiums on SNACK?
You can choose from $0.30, $0.50 and $0.70. For example, if you choose shopping as the trigger to add on for Personal Accident coverage and select the $0.30 premium (equivalent to S$300 worth of coverage), each time you shop in-store you will be charged $0.30 and $300 will be automatically added to your Personal Accident coverage. This coverage amount differs based on your profile.
How do I adjust my premiums on SNACK?
You can go to your portfolio screen, click on the product and edit your triggers there. You can either adjust your premium, add more or delete triggers!
How do I make a claim?
Claims are done on the SNACK website: https://snackbyincome.sg/claims. Log in using your app account details and submit your claims there!
What are the eligible age requirements?
There’s no age requirement to sign up for an account on SNACK but you’ll need to be between 18 to 61 years old to purchase any product(s). Age is defined as your age last birthday, as of the date of purchase of the policy.
I have more questions. Who can I contact?
You can reach out to us at hello.snack@income.com.sg and we will assist to answer your queries!
