Online Life includes 18 savings and protection plans to choose from. NTUC Income launched Online Life and askSage, a life insurance portal and digital adviser, an announcement revealed.
Online Life includes life insurance options for direct purchase beyond the current slew of Direct Purchase Insurance (DPI) options from Income, and integrates with digital adviser, askSage, to help consumers make decisions on financial planning at their convenience.
The new platforms cater to consumers of diverse financial savviness by allowing them to access the respective platforms separately. For those who are certain about their financial needs, they can leverage Online Life to select and purchase directly a savings or protection plan based on their preferred budget and policy terms. Meanwhile, those who prefer a financial review and needs analysis prior to purchase can access askSage for self-serve advisory and obtain a shortlist of products for direct purchase on Online Life.
NTUC said that it has 18 savings and protection plans available on Online Life, of which six are riders, for direct purchase. To complement product diversity, the life insurance portal supports consumers with simple and effective product comparisons to differentiate key product features and benefits to help consumers discover what best suits their financial needs at different life stages.
“Consumers can also customise premiums, sum assured and policy duration on the portal to optimise relevant products shortlisted by Online Life, which offers consumers instantaneous quotations of the desired life insurance plan at the same time,” NTUC Income explained, noting that it will take about 15 minutes to complete the application and purchase in the platform, depending on the type of life insurance plan and underwriting requirements.
Meanwhile, askSage allows consumers to be guided through a financial review online to facilitate an analysis of their life insurance needs before being offered a shortlist of relevant products. The digital adviser offers 25 Income savings and protection plans, which include six riders for consumers’ consideration.
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