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Singaporean man earns S$6,000 free insurance in a week by living a normal life – Mothership.SG

Like most people, I went through many important milestones in my first year as an adult.

The thing that left an impression on me was the financial plan.

I remember a rather serious incident during three long meetings on a weekday night with an agent at various fast food outlets in a shopping center in Serangoon.

Each meeting was very enlightening, but also very stressful for me, a financial novice at the time.

Yes, it may have taken me longer to decide, but I also wanted to get over it and make it through.

Four years later, I am happy with my decision at the time, but wish it had been different.

easy first insurance

Enter snacks with income.

The financial lifestyle provider is named for how it offers bite-sized investment and insurance products through a mobile app.

It provides an ‘alternative approach’ to the large purchases typically required for insurance coverage purchases and investments.

Not in the thousands, SNACK Insurance’s possible premiums start at S$0.30, while SNACK Investment’s products can be purchased for as little as 1S$.

These premiums are paid whenever the app detects that you have completed a preconfigured “lifestyle activity” such as taking public transportation, ordering food delivery, or exercising. will be split.

After that, they pile up insurance premiums by a few hundred dollars each time.

After trying the app for a week, I was covered with S$46,333 (including S$6,000 free insurance in 3 life, accident and critical illness policies).

Part of everyday life triggers the purchase of insurance

The first step in setting up the app was deciding which activities to link to purchasing insurance.

The revamped app interface includes a full-screen info panel that you can tap at your own pace. Screenshot by SNACK app.

The list of activities you can choose from includes various spending categories.

Screenshot by SNACK app.

As well as hitting the fairly achievable goal of 5,000 steps per day.

I chose all categories because I knew I could always go back to the app and disable some if I wanted to.

go out, get rewarded

SNACK communicates with “activity sources” such as VISA, EZ-Link, activity tracking apps (Garmin, Fitbit, or Apple Health) so you know when you’ve performed these activities.

We’ve officially registered all VISA cards so you don’t miss out on free coverage. Screenshot by SNACK app.

Select premium amount

I was also asked to choose a premium amount: S$0.30, S$0.50 or S$0.70.

Choice of intermediate options. Screenshot by SNACK app.

With the wisdom of Goldilocks, I chose S$0.50. In the end, it didn’t really matter because 1) it was a relatively small amount and 2) you could always go back to the app and raise or lower the amount.

It was also helpful to be able to set a weekly cap (I chose S$50).

Spoiler alert: It didn’t reach S$50 by the end of the week. Screenshot by SNACK app.

Now, when you use one of your Visa credit cards to pay for ‘lifestyle activities’ like going to the cinema, you will be automatically charged S$0.50 until you reach your weekly limit of S$50 .

It was a similar configuration process for the other two policies (Critical Sickness and Life).

So I was ready to go out into the world to get my coverage.

Screenshot by SNACK app.

But not before getting the S$4,500 free coverage. S$1,000 in each category as a starting bonus from SNACK and S$500 for completing each of the three setup processes.

challenge accepted. Screenshot by SNACK app.

From that day on, I started working on my activities and started interviewing.

My first transaction recorded by SNACK: Nasi Lemak lunch. Photo by Nigel Chua.

October 13: Lunch, dinner, and pick up household items on the way home. Compensate his S$1,200 for S$1.50 in 3 transactions. Screenshot by SNACK app.

Bite-sized insurance coverage is valid for 360 days, or approximately one year.

This means that for the next year, I will continue to live my life, so I will continue to accumulate insurance and continue to enforce policies.

Biological age calculated daily

As someone who tries to stay healthy and active in general, I am very happy to know that I get bonus compensation for all my efforts under a feature called SNACKFIT.

Screenshot by SNACK app.

SNACKFIT tracks 5 key metrics every day: steps taken, calories burned, BMI, resting heart rate and sleep.

The younger you are physically, the more bonus compensation you get, and up to 20% bonus compensation applies to those whose biological age is 5 years younger than their actual age.

October 15: 12% bonus coverage on Accident insurance because my biological age is detected to be 3 years younger than my chronological age. Screenshot by SNACK.

The data is taken daily, so getting plenty of rest and exercise and consistently maintaining these healthy habits is definitely an incentive.

Another way to get bonus rewards and investment credits is to purchase at SNACK’s partner merchants (or SNACKUP merchants). There, you’ll get bonus compensation and investment credits when you spend using your linked VISA card.

One of them is the orange juice vending machine brand IJOOZ.

Order system. GIF by Nigel Chua.

SGD2 for 4 freshly squeezed oranges, SGD100 free insurance, SGD0.20 free insurance credit? Cheers to that.

cheers. Photo by Nigel Chua.

I also got bonus insurance by paying with Fave and ordering with foodpanda. Both are SNACKUP merchants.

A meal at this Wafuken also comes with S$100 free insurance and S$0.20 free investment credit.

Healthy eating, free insurance, and free investment credit. good.

win easily

At the end of the week, you have accumulated S$46,333 in coverage for a total premium of S$40.5.

  • Lifetime: S$19,533, Total Premium S$13.50
  • Accident: S$13,400, total premium S$13.50
  • Serious illness: S$13,400, total premium S$13.50

A significant portion of the total (S$6,000) was free coverage earned from staying healthy and active and from SNACK’s various giveaways and promotions with partner merchants.

Of course, I could have signed one big policy with equal or better coverage in one day, but it could have taken more than a month of research and planning.

Overall, SNACK by Income serves as a low-cost, hassle-free way to enter the world of insurance, with challenges, bonuses, and free coverage to keep you involved in the process.

It’s something I imagine was endlessly helpful to me when I was considering my first insurance plan.

It also works as an add-on to existing financial products. At least I’ve never had an accident policy before and I’m definitely going to keep one.

Easy to start investing

SNACK is more than just an insurance company.

You can also start investing in a mechanism very similar to how SNACK Insurance coverage accumulates.

Daily lifestyle activities (the same ones that trigger premiums) can be set to trigger investment purchases in amounts of S$1, S$2 or S$3, weekly which can be set depending on investment budget There is an upper limit of .

Screenshot by SNACK app.

Much like SNACK Insurance, it’s a set-and-forget mechanism that allows you to build your financial portfolio without the need for constant oversight.

There is also an auto-investment feature that allows SNACK to automatically invest the remaining amount from the weekly limit you set.

You can enable or disable this according to your preference.

Screenshot by SNACK app.

S$80 investment credit for new users before December 31st

Referral code for new SNACK users Get an investment credit of S$80 when you sign up for a SNACK account at and start investing in SNACK.

You can also check out other exciting promotions and bonuses from the SNACK app itself.

Please follow these steps:

  1. referral code Create a SNACK account at
  2. Go to “Portfolio” and tap on “Start Now” for an investment
  3. Set up your account and link your Visa card
  4. Complete a Customer Knowledge Assessment (CKA) to ensure your investment is backed

If you are interested, please try it Download the SNACK app and check out Click here for a step-by-step guide to SNACK Helps you get started with your SNACK investment.

This sponsored article by Income’s SNACK allowed the writer to get extra insurance without fuss.

Top image by Nigel Chua.



https://mothership.sg/2022/11/snack-by-income-experience/ Singaporean man earns S$6,000 free insurance in a week by living a normal life – Mothership.SG

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