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MyRepublic and SNACK by NTUC subscribers to get reciprocal benefits when signing up with each other

By Ken Wong - on 20 Aug 2020, 8:00am

MyRepublic and SNACK by NTUC subscribers to get reciprocal benefits when signing up with each other

MyRepublic has announced a partnership with NTUC's SNACK  to bring reciprocal benefits to each other’s subscribers.

Under the collaboration, MyRepublic subscribers will have access to SNACK, NTUC's bite-sized, stackable insurance that embeds the purchase of micro-insurance into consumers' lifestyles.

MyRepublic subscribers will receive a higher sum of insurance coverage on their Personal Accident plans, as long as they are new subscribers to SNACK, they will receive a complimentary one-time S$1,500 insurance coverage on their Personal Accident plans.

To enjoy the upsized coverage, MyRepublic customers will just have to key in a promo code which is valid from now until 31st December 2020, on the SNACK app or the MyRepublic website.

With MyRepublic, SNACK subscribers have to use the promo code MRXSNACK at the MyRepublic website to get access to one of these exclusive MyRepublic broadband plans:

  • Free 2 months 1Gbps TP-Link EC330 Router Bundle at $41.99/mth (U.P. $49.99/mth)
  • Free 2 months 1Gbps Google Nest Wifi Bundle at $55.99/mth (U.P. $56.99/mth)
  • Free 2 months GAMER 1Gbps ASUS TUF Gaming AX3000 Router Bundle at $57.99/mth

There are more details as well as the terms and conditions on the reciprocal plans, at the MyRepublic site.

 

Getting insurance in bite sized pieces

Launched by NTUC Income in June this year, SNACK still covers subscribers for the usual insurance products like Term Life (TL), Personal Accident (PA), and Critical Illness (CI).

Unlike the usual payment options for these plans however under SNACK the subscriber gradually builds or stacks his insurance coverage by paying micro-premiums at either S$0.30, S$0.50 or S$0.70 and accumulates micro-policies that offer a specified sum assured, based on their  profile and corresponding with the premiums paid.

The SNACK subscriber can also decide when and how frequent premiums are paid by linking them to his preferred lifestyle triggers, such as ordering a meal, exercising or simply by taking public transport. This frees him up from long-term and rigid premium payments.

For example, 25-year-old Zac, who is a non-smoker, sets up a transport trigger to pay S$0.30 premium for CI coverage via a credit card linked to the SNACK mobile app, each time he commutes on a public bus or train. With each bus or train trip, Zac accumulates a micro-policy that offers him S$321 sum assured. He is also protected for up to 360 days even after any insurance payment stops.

Max Tiong, Head of Transformation at Income, added,

“We are constantly looking out for opportunities to extend insurance access to more people in Singapore, and we are happy to work with MyRepublic who shares the same vision as us.”


Recent MyRepublic changes

MyRepublic has been making changes recently to some plans in its portfolio and made them more attractive to customers. In March they increased data caps across all their plans and launched a new SIM only plan with unlimited data. In May they announced a new a new programme called Achievement Unlocked, which rewards gamers with up to S$3,000 worth of prizes for playing popular games like Animal Crossing and Final Fantasy 7.