Start small: micro-insurance is the way to go! SNACK helps you grow your coverage slowly, but surely.
If insurance has always been a mind-boggling topic you’re reluctant to tackle, we totally feel you! Taking on full-blown policies may seem a little daunting – it’s understandable. But what if we told you that you can do it bit by bit? The magic solution: accumulate micro-policies and build up your insurance portfolio as you go about your day
Introducing SNACK by Income. This is a mobile app that enables you to build insurance coverage and investments one step at a time, as you go about your daily activities. Read on for more info!
Bite-sized insurance allows you to start small
Yes, it exists! Say goodbye to the usual large policies that require a sizable commitment. Now, SNACK by Income allows you to buy small insurance policies by paying micro-premiums. Simply link your Visa, EZ-Link or fitness tracker to SNACK and go about your usual routine – take the bus, grab lunch, shop for a new outfit, watch a movie or even just walk 5,000 steps – and the app automatically helps you buy small insurance policies every time such an activity is performed.
The premium costs are negligible starting from as low as $0.30 and you will be issued a micro-insurance policy that lasts for 360 days. While the coverage for these individual micro-insurance policies seem low, they gradually stack up and could turn out to provide you with quite significant coverage. Simply put, you can build your insurance portfolio without forking out a huge initial sum. How nifty is that?
To add on, what we especially love is the absolute flexibility: with no lock-in periods or penalty fees, you’re in absolute control. You can start, stop or alter your insurance premiums any time with just a few taps within the app.
Keep your fitness goals on track and get extra insurance
Insurance gets more expensive as you age. As part of their latest innovation, SNACKFIT offers an ingenious way to build your insurance coverage faster, and healthier.
Through linking your fitness tracker (Garmin & Fitbit for now) to SNACKFIT, SNACK is able to determine your biological age. And if your bio age is younger than actual age, you will get bonus coverage for every policy issued.
Curious about how it works? It’s based on an algorithm that analyses five key physical activity metrics to calculate your biological age: active calories, steps, resting heart rate, sleep hours and BMI. Based on the calculation, SNACK will reward you with up to 20% bonus coverage for each policy if your biological age is younger than your actual age as it is an indication of lower risk.
SNACK promo for new sign-ups
The best time to sign up is now! Start SNACK by Income and get rewarded with $30 worth of GrabFood vouchers when you apply promocode <SNACKEATS22> upon checkout. $30 worth of vouchers to get a $0.30 insurance policy? There’s little reason to say no. (T&Cs apply)
We don’t know about you, but this makes getting started on the whole insurance thing a whole lot easier! Download SNACK by Income here.
This post is in partnership with SNACK by Income.