SNACK Insurance: Pay Your Insurance Premiums in Bite Sizes

Imagine it is a Sunday. You put on your Fitbit and decide to take a walk in the park. As you walk, you accumulate a micro-policy that offers you a certain sum assured.

Lazily, you decide to take a bus home. As you tap your EZ-link card on the reader, you contribute a little bit more to your premium and receive another sum of money assured.

At night, you decide to treat yourself to a nice meal, scroll through Burpple and score a sweet 1-for-1 deal at your favourite Izakaya bar, while more money is assured to you.

Say goodbye to traditional policies and long term commitments. NTUC has launched SNACK, Singapore’s first bite-sized, stackable insurance that seamlessly integrates into your daily lifestyle activities.


*This picture is for illustrative purposes only

The monetary commitment that comes with purchasing a policy can be quite a turn off to a lot of people. But with SNACK, you just have to pay as low as $0.30 to as high as $0.70 at a time, while gradually building your insurance coverage.

Customisable to your preferences, you can switch between these premium levels any time and decide on when and how frequent you want to pay premiums and stack insurance coverage by linking payments to your daily activities such as ordering a meal for takeaway, exercising or taking a public bus. Simply choose a policy, choose a “trigger”, $0.30 is paid to your premium, and you get a sum insured based on your portfolio.

 “Such flexibility resonates especially with those who value both cash flow and the benefits of insurance protection,” Peter Tay, NTUC Income chief digital officer, said at the product’s virtual launch.


At the moment, SNACK partners with contactless smart card company EZ-link, fitness wearable company Fitbit and food app company Burpple to enable insureds to accumulate Term Life (TL), Critical Illness (CI) and Personal Accident (PA) insurance coverage on the SNACK mobile app.

“Consumers these days are well-informed, tech-savvy and increasingly seek personalisation and convenience in their lifestyle and when they make purchases” , says Tay. “SNACK will be a draw to anyone who values propositions that are simple, flexible and convenient, particularly those who may be new to insurance.”

Designed as a self-management tool, SNACK enables those insured to easily view, update or amend their premium payments, anytime. Claims are also done online and conveniently via PayNow.


SNACK lowers the barrier of entry into insurance and is a game-changer in the industry. Especially in fast-changing times where movement is limited and cash flow is uncertain, SNACK provides a convenient, instant way to boost and manage your own insurance portfolio with lower commitment.

In saying that, there is still a place for traditional insurance. After all, a large number of us (myself included) may still be clueless about what and how much we should be covered with. Yet, where traditional insurance is not able to meet the protection need, SNACK has the potential to bridge the gap for them.

Images : SNACK by Income


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