Transfer NCD to wife?

[Butakim]

It seems like you can transfer your NCD to your parents/wife/siblings.

 

NTUC Income Dialogue

 

 

Can NCD be transferred from one person to another? (eg. between parent and child, between siblings)

Answer : NTUC Income has been quite flexible. For example, a policyholder wrote in saying that he owns 2 cars, and that the second car under his name is actually driven by his wife for the last 5 years. He wants us to transfer the NCD his wife We checked and found out that his wife has indeed been driving the car all along, and with good record. Thus, we will allowed the transfer of NCD.

 

 

What is the pros and cons of doing this?

 

Is it only with NTUC or with other insurance companies too?

 

[Silver_blade]

Can transfer between spouses and parent/child. So far, most insurance co. allow that....except for Mitsui, etc...

Edited April 3, 2009 by Silver_blade

[Skilled]

one time transfer only.

[Xxer]

Can. But I understand it is applicable for new car purchase only, no used car.

[Djrapper]

Used car can NTUC i transfer mine 40% to my wife ...now under her name.

[Sugizo]

Hi...does anyone knows whether the NCD can be transferred to the children if the policyholder has passed away? Thanks in advance.

[Simpleman]

Policyholder will not be around to sign the transfer, unfortunately.

Can check with the insurance company. Show proof.

 

 

[Ixat]

Hi guys, is this NCD transfer recognized by individual company only?

 

I.E. I tranfer to my wife to purchase insurance from Coy A. Next year if wanna source for insurance elsewhere, do other insurance coys recognised that the NCD has been transferred to my wife?

 

Who actually holds the official record? LTA/TP?

 

Thanks!

[Butakim]

The insurance company holds the record. The new insurance company will check with the old company what the NCD is.

 

 

[Ixat]

The insurance company holds the record. The new insurance company will check with the old company what the NCD is.

 

Hi bro thanks for the info!

 

So once the 1st transfer happens its good for future renewals at any other coys eh?

 

Cheers!

[Vlsc]

Hi need some advice. My dad's car is due to scrap. Name reg under him as well as insurance (but I m one of the names he added for the insurance) .

If I intend to buy a car, but not ready to make a booking in time before car is scrapped, how can i  transfer my dad NCD to me? What should I do? 

[Spring]

I know u can tfr NCD between spouses but I’m not sure whether u can do this between father n children. Check with the Insurance Company directly if you buying from an owner or thru the sales agent if u buy the car from AD or Used Car dealer. Good luck!

[Vlsc]

5 hours ago, Spring said:

I know u can tfr NCD between spouses but I’m not sure whether u can do this between father n children. Check with the Insurance Company directly if you buying from an owner or thru the sales agent if u buy the car from AD or Used Car dealer. Good luck!

AD said can help to do the ncd transfer if I book a car w them even though ins company is different from our current one and Did not mention must be spouse also. I check our current ins Co it stated only spouse. 

But my major problem is I won't be able to book for a new car in time coz I m still in shopping car stage n current car is due to scrap. So if alr scrap, can transfer still be done (assuming if really they allow to transfer to son). 

[Spring]

4 hours ago, Vlsc said:

AD said can help to do the ncd transfer if I book a car w them even though ins company is different from our current one and Did not mention must be spouse also. I check our current ins Co it stated only spouse. 

But my major problem is I won't be able to book for a new car in time coz I m still in shopping car stage n current car is due to scrap. So if alr scrap, can transfer still be done (assuming if really they allow to transfer to son). 

My understanding is the NCD is valid for at least 6mths (possibly even up to a year but u need to check) after u give up your car. This is to allow owner time to get a another car if he chooses to. So I think your situation shld be ok provided u get the car before the validity is up ie 6mths or up to a year if that is the rule. 
 

What is more worrying is whether allowed to tfr from Father to Son cos from my knowledge is only between spouses but do check this up. 

[Dannnn]

xfer from father to son is possible. a few ppl i know did so, but not sure if its depend on insurer. only thing is call n ask.

[Vlsc]

Ok. Thank u. Keeping fingers crossed. 

[Meanmachine]

 Transfer from Spouse to spouse is acceptable, not all insurance accept, NTUC is one of em that accept spouse ( 50% NCB )

 Worse one is FWD, thy say their policy is " Unique ", thy don't even consider your explanation on why must be registered'r under spouse's name since the car is registered Wife's name yet the husband is the main driver with class 3 licence, all one has to do is produced the marriage certificate scan to insurance coy and it's done.

 FWD underwriter simply don't buy it and I think thy are way backward in the promotion. In the car insurance fraternity, one must be understanding in providing good customer's service and not merely stick to old system that does not suit today market's trend that does not comply to individual needs, besides there is nothing special nor unique about their policy. 

[Voodooman]

Don't make sense. NCD should follow driver of vehicle. Does transferee need to be a regular driver (2nd driver perhaps) of the said insurance policy covering a particular vehicle?

If my wife is a new driver, her risk should be higher.