Income launches mental wellness insurance plan
Income has introduced the “SNACK Self Care Pack,” a mental wellness insurance plan, available for S$9.90 a month via the SNACK mobile app. This plan, unique for not requiring hospitalization, provides subscribers with easier access to psychiatric and psychotherapy services. It follows the recent introduction of Star Secure Pro, offering additional coverage for five mental health conditions.
This development aligns with Singapore’s growing awareness and willingness to seek mental health assistance, as indicated by the latest National Population Health Survey. The SNACK Self Care Pack offers up to $200 monthly coverage for psychiatric consultations and up to $500 for psychotherapy, though eligibility criteria apply.
The flexible monthly subscription model allows users to pause or resume the plan anytime, and claims can be made through the SNACK app. Subscribers also benefit from the SNACK Rewards program, earning ‘cashback’ from various lifestyle and wellness partners, which can be converted into insurance coverage or investment credits.
SNACK , launched in June 2020, integrates micro-insurance and investments with everyday activities, evolving into a fin-lifestyle app that combines new insurance models with traditional products to cater to digital-first consumers.