Established in 1970 as NTUC Income, the company's original social purpose was to provide affordable insurance for workers in Singapore. It has since grown to become one of the country's largest composite insurers. On 1 September 2022, NTUC Income was corporatised and rebranded as Income Insurance Limited. The company continues its mission to make financial advice and insurance accessible to everyone, offering a wide range of products including life, health, travel, motor, and home insurance, as well as savings and investment plans.