MINDEF employees, SAF active servicemen insured for $100,000
By Pearl Forss, Channel NewsAsia | Posted: 02 January 2009 0004 hrs
SINGAPORE: With effect from Jan 1, all MINDEF employees and Singapore Armed Forces (SAF) active servicemen will be automatically insured for S$100,000.
This initiative, which rides on the existing SAF Group Term Life (GTL) insurance scheme, is aimed at encouraging them to have a minimum level of insurance protection for themselves.
For a monthly premium of S$12.80, all eligible MINDEF employees, regular servicemen who are aged 45 and below, and full-time National Servicemen (NSFs), who do not opt out of the scheme, will be insured for the sum of S$100,000.
The insurance coverage will provide protection against personal accidents in daily life.
MINDEF says it will increase the monthly allowance of NSFs by S$20 to help them pay for the monthly premium.
The increase in NSF allowance also takes effect from January 1.
- CNA/yt
yay so thats an additional $7.20/mth more!
i opted out but i heard that they're making it compulsory, anybody knows if its true?
What a good start to all MINDEF personnel, more money to be given when the rest of get pay cuts or risk retrenchment.
Public servants - not bad at all, Happy 2009!
haiya, if u wanna get full $20, can de lor... OPT OUT LA. although ur CO, IC, or upper will keep on saying
"NOT COMPULSORY, BUT HIGHLY RECOMMENDED TO OPT IN"
sounds so stupid, if they want us to take it, just make it compulsory.
Originally posted by fwy87:i opted out but i heard that they're making it compulsory, anybody knows if its true?
hmm maybe its because of most NSFs reluctant to waste the $12.80/mth. $400+ is already v little to spend, if they give us $20 more, why not let us make full use of it eating more or saving it?
and PES C/E clerks have the minimal reason to opt in, i think most who sign in are those in OCS/OCT/SISPEC/NAVY/AIRFORCE or various infantry units.
i was just wondering.. what about those who already are subscribing to the group term life insurance? i don't think they will do double-deduction right?
this $12.80, 100k payout policy is underwritten by Aviva..
mine got discount i think i paying 10+ nia..also aviva, original price is 12.80..
What's the policy?
i love sgforums