NTUC Income

What NTUC Income does

Income Insurance Limited, doing business as NTUC Income, is a Singapore-based insurance cooperative founded in 1970 and one of the country's most established multi-line insurers. The company underwrites a comprehensive portfolio spanning health (Enhanced IncomeShield, IncomeShield, Care Secure Pro, Care Secure), life (Complete Critical Protect, Complete Life Secure, LUV, Lady 360, Maternity 360), personal accident (PA Assurance, PA Secure, SilverCare, PA Fitness Protect), travel, motor (Drivo, eDrivo, Motorcycle), home, lifestyle (Domestic Helper, Happy Tails Pet), savings and investments (Gro Cash/Saver/Retire Flex Pro series), the premium Solitaire series (TermLife Solitaire, Wealth Plus Solitaire II), and group and commercial lines (Employees FlexCare, WorkMedic, Commercial Insurance). Technology is delivered through the income.com.sg platform, the My Income iOS/Android app, Singpass-based authentication, and the Orange Health Application with Under Armour-powered activity tracking. Revenue is generated through recurring and one-time insurance premiums across these product lines, priced on a per-policy or subscription basis with risk-adjusted underwriting, and distributed via a tied agency force, direct-to-consumer digital channels, the NTUC union channel, AXS payment infrastructure, and a corporate sales team. The company targets individual consumers, families, and corporate clients across Singapore, and operates from its headquarters at 75 Bras Basah Road (Income Centre). In June 2026 it transferred its digital insurance platform to Embed Financial Group Holdings and appointed Lim Sim Seng as Chairman.

Name

NTUC Income

Legal name

Income Insurance Limited

Website

https://income.com.sg

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

NTUC Income (Income Insurance Limited) is a Singapore-based insurance cooperative, founded in 1970, offering life, health, personal accident, motor, travel, home, savings, group, and commercial insurance products to individual consumers, families, and corporate clients across Singapore.

Ownership category

akta.pro rank

Product category

Insurance

NAICS

Insurance Carriers (5241), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Life Insurance (6311), Accident & Health Insurance (6321), Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Personal Accident Insurance (Injury, Disability & Income Benefit) (FSAJAJAD)

akta.pro secondary industries

Individual Supplemental Health (Hospital Indemnity, Critical Illness, Accident) (FSAIAEAD), Personal Auto Insurance (FSAJAMAA), Participating (Dividend) Whole Life Insurance (FSAIABAI), Standalone Critical Illness Insurance (FSAIAKAA)

Keywords

• Insurance products
• Life insurance
• Health insurance
• Group insurance
• General insurance

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: Income Insurance generates the majority of its revenue through insurance premiums collected from policyholders across its diverse product portfolio including life, health, motor, travel, personal accident, home, and commercial insurance. Premiums are collected on recurring (monthly/annual) basis for protection and savings plans, and one-time basis for travel and short-term policies.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Income Insurance is Singapore's only insurance cooperative, underwriting and distributing a comprehensive portfolio of life, health, personal accident, motor, travel, home, domestic helper, pet, savings and investment, and group/corporate insurance products to individuals, families, employers, and government entities. Core revenues come from insurance premiums collected through digital self-serve channels, a tied agency force, corporate sales, and the NTUC union channel, with the My Income app and online portal enabling policy management and claims.

Product overview

Income Insurance (NTUC Income) is a comprehensive insurance provider offering a diverse portfolio of individual, group, and corporate insurance products across Singapore. The core offering spans health insurance (Enhanced IncomeShield, IncomeShield, Care Secure Pro, Care Secure), life insurance (Complete Critical Protect, Complete Life Secure, LUV, Lady 360, Maternity 360), personal accident insurance (PA Assurance, PA Secure, SilverCare Insurance, PA Fitness Protect), travel insurance (Enhanced PreX, FlexiTravel Plus, Travel Insurance), motor insurance (Drivo, eDrivo, Motorcycle), home insurance (Enhanced Home Insurance, Home Ultimate Protect), lifestyle insurance (Domestic Helper Insurance, Happy Tails Pet Insurance), savings and investments (Gro Cash Flex Pro, Gro Saver Flex Pro, Gro Retire Flex Pro II), and group/corporate insurance (Employees FlexCare, WorkMedic, Commercial Insurance). The premier Solitaire Series offers high-net-worth products (TermLife Solitaire, Wealth Plus Solitaire II). Digital services include the My Income mobile app for iOS/Android and the My Income online customer portal. The company operates as a direct-to-consumer and advisor-distributed insurer with no public API.

Differentiator

Problem solved

Functional benefit

Products and services

• Enhanced IncomeShield Integrated Shield Plan providing unlimited lifetime coverage for medical and hospitalisation expenses, offering enhanced coverage and higher claim limits compared to the base MediShield Life, targeted at Singapore residents seeking premium health protection.
• IncomeShield Base Integrated Shield Plan covering hospitalisation and selected outpatient treatments at public and private healthcare institutions in Singapore.
• Care Secure Pro Comprehensive disability coverage plan that supplements CareShield Life or ElderShield, providing coverage across different stages of disability from mild to severe, available with a 25% perpetual premium discount.
• Care Secure Disability insurance plan providing coverage across different stages of disability for individuals seeking long-term care protection.
• Complete Critical Protect Critical illness insurance providing comprehensive coverage from diagnosis to recovery with up to 10 times the sum assured from early to advanced stages of dread diseases, covering 158 conditions.
• Complete Life Secure Life insurance providing financial protection and coverage for policyholders and their beneficiaries.
• LUV Life insurance product designed for specific customer segments in Singapore.
• Lady 360 Comprehensive life insurance designed for women, covering gender-specific health and protection needs.
• Maternity 360 Life insurance coverage designed for expectant mothers, providing protection during pregnancy and beyond.
• PA Assurance Comprehensive personal accident plan covering 26 infectious diseases including Dengue Fever, HFMD, Chickenpox, Shingles and H1N1, with up to $25,000 hospitalisation expenses per accident.
• PA Secure Affordable personal accident insurance from $0.25 per day covering 7 infectious diseases with up to $2,000 medical expenses per accident or due to infectious diseases.
• SilverCare Insurance Personal accident insurance designed for seniors aged 50 and above, covering 25 infectious diseases with renewable-for-life coverage and up to $12,000 hospitalisation expenses under the Platinum Plan.
• PA Fitness Protect Personal accident insurance with fitness-related coverage features for active individuals.
• Drivo Car Insurance Comprehensive car insurance for private vehicles providing coverage for accidents, third-party liability and vehicle damage in Singapore.
• eDrivo Car Insurance Digital-first car insurance offering convenient online purchase and management for vehicle owners.
• Motorcycle Insurance Insurance coverage designed specifically for motorcycle riders in Singapore.
• Enhanced PreX Travel Insurance Enhanced travel insurance providing comprehensive coverage for international travel including medical, trip cancellation, and baggage protection.
• FlexiTravel Plus Flexible hourly travel insurance allowing customers to purchase coverage by the hour for short trips.
• Travel Insurance Standard travel insurance covering trip cancellations, medical emergencies and lost luggage for travellers.
• Overseas Study Protection Plan Insurance protection plan for students studying overseas, covering medical and travel-related risks.
• Enhanced Home Insurance Home insurance providing coverage for house building, contents and renovations against fire and other unforeseen events.
• Home Ultimate Protect Premium home insurance offering comprehensive protection for homeowners with extensive coverage limits.
• Domestic Helper Insurance Insurance coverage for foreign domestic workers in Singapore, including medical coverage and employer liability protection, available from $0.60 per day.
• Happy Tails Pet Insurance
• Gro Cash Flex Pro Insurance savings plan with guaranteed capital upon maturity, designed for low-risk savings goals including children's education with capital protection.
• Gro Saver Flex Pro Customisable insurance savings plan providing protection coverage while helping customers save towards financial goals.
• Gro Retire Flex Pro II Retirement-focused savings plan designed to help customers build retirement funds with regular savings and potential bonuses.
• Employees FlexCare Group insurance package for employers providing employee benefits including hospitalisation, life and personal accident coverage.
• WorkMedic Work injury compensation insurance for employers covering employee workplace injuries and occupational accidents in compliance with Singapore's Work Injury Compensation Act.
• Group Insurance for Schools, Centres & MOE Personnel Group personal accident and related coverage provided to schools, education centres and Ministry of Education personnel, including students and staff.
• Commercial Insurance Business insurance package offering coverage for various commercial risks including property, liability and business interruption for Singapore businesses.
• TermLife Solitaire Term life insurance within the premium Solitaire series, providing straightforward protection coverage without cash value for high-net-worth clients.
• Wealth Plus Solitaire II Premium whole life insurance with savings component within the Solitaire series for wealth accumulation and protection among affluent Singapore policyholders.
• My Income App Mobile application for iOS and Android enabling customers to manage insurance policies, make payments, submit claims and access policy documents on-the-go.

Quantifiable outcome

• Coverage for 26 infectious diseases including Dengue, HFMD, Chickenpox, H1N1, and Shingles - most extensive range among personal accident plans in Singapore
• +4 more outcomes

Named customers4 records

Segments7 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Embed Financial Group HoldingscoreTechnology or Integration · 18 June 2026Income Insurance transferred its digital insurance platform to Embed Financial Group Holdings. This technology partnership involves transitioning Income's digital insurance platform infrastructure to Embed Financial Group Holdings, which manages the technology and platform operations.
• WWF-SingaporecoreStrategic or Co-development Partner · 29 April 2026Income Insurance and WWF-Singapore partnered to launch Eco Dabao, Singapore's first CBD Return-and-Reuse Multi-location Programme for takeaway food and drink containers. The initiative supports Income Insurance's sustainability agenda and environmental advocacy, aligning with its broader ESG commitments.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Singlife: Singlife (formerly Aviva Singapore) is a digital-first life and health insurer that merged with Singlife. It offers life, health, and accident products with mobile-first distribution, directly competing with Income in personal accident and life segments while targeting younger digital consumers.
• FWD Singapore: FWD Singapore is the local arm of pan-Asian insurer FWD Group, offering life, health, accident, and savings products with strong digital marketing. It targets similar consumer segments as Income with direct-to-consumer digital positioning.

Broad incumbents

• AIG Singapore: AIG Singapore operates as part of global insurer American International Group, offering life, accident, health, and general insurance with broader international backing. Competes in commercial insurance, accident, and personal lines segments.

Regional players

• Etiqa Insurance Singapore: Etiqa is a Malaysian-based insurance group operating in Singapore, offering life, health, motor, home, and travel insurance. Comparable multi-line insurer with similar product categories to Income, focused on ASEAN markets.
• Tokio Marine Life Singapore: Tokio Marine Life Singapore offers life insurance and financial products as part of Japanese-headquartered Tokio Marine Group. It competes in life, health, and savings segments with comparable distribution models and product structures.

Direct peers

• AIA Singapore: AIA Singapore is the local arm of pan-Asian insurance giant AIA, offering life, health, accident, and group insurance products. It competes head-to-head with Income across Integrated Shield Plans, life insurance, and group employee benefits, and has larger capital resources.
• Prudential Singapore: Prudential Singapore offers life, health, retirement, and investment-linked insurance products, with strong agency distribution and digital capabilities (PRUshop). Direct overlap with Income's life, health, and savings/investments portfolio.
• Great Eastern: Great Eastern is one of Singapore's largest established insurers, offering life, health, and general insurance products including motor, travel, and personal accident. It is Income's most direct domestic competitor with comparable product breadth, multi-channel distribution, and similar NTUC-era heritage.
• MSIG Singapore: MSIG Singapore offers general insurance including motor, travel, personal accident, home, and commercial insurance. Direct overlap with Income's general insurance lines, especially motor (Drivo vs MSIG motor) and personal accident products.
• Manulife Singapore: Manulife Singapore offers life insurance, health, savings, and retirement products with strong agency force. Competes directly with Income in life, critical illness, and retirement segments with comparable product structures.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/Incomeinsurance
• Facebookfacebook.com/NTUCIncomeInsurance
• LinkedInlinkedin.com/company/income
• Instagraminstagram.com/incomeinsurance

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NTUC Income