Review of Income 3-Year Endowment Plan: Gro Capital Ease

This February, Income has launched their short-term insurance savings plan – Gro Capital Ease, which offers a guaranteed maturity benefit of 112.32%¹ of the single premium after 3 years, based on the guaranteed yield at maturity of 3.95% p.a.² Here’s Heartland Boy’s review of Income’s Gro Capital Ease.

INCOME’S 3-YEAR INSURANCE SAVINGS PLAN: Gro Capital Ease

If you are looking to save via a short-term insurance savings plan, look no further because Income’s Gro Capital Ease is here. It is a 3-year single premium non-participating insurance savings plan that gives a lump sum payout with a guaranteed return of 3.95% p.a.² at maturity. It also provides protection against death & total and permanent disability (TPD before age 70). If it happens within 1 year from the cover start date of the policy, policyholders will receive a payout of the net single premium³. If it happens after 1 year from the cover start date of the policy during the policy term, policyholders will receive 105% of the net single premium³.

ABOUT INCOME’S GRO CAPITAL EASE

In the wake of today’s highly volatile economic environment, Gro Capital Ease stands out with the following characteristics:

• A short-term endowment plan of just 3 years.
• Enjoy guaranteed maturity benefit of 112.32%¹ of the single premium after 3 years
• Guaranteed yield at maturity of 3.95% p.a.²  after 3 years

EASILY ACCESSIBLE

You’ll be happy to know that Income’s Gro Capital Ease 3-year endowment plan has also been made so easily available and accessible. Enjoy the flexibility of purchasing Gro Capital Ease online securely via their Online Life Insurance platform (minimum purchase amount of $5,000 which can be paid via PayNow QR, eGIRO or Supplementary Retirement Scheme (SRS) funds). Alternatively, you can also purchase through a financial advisor representative with a minimum purchase amount of $20,000, which can be paid via cash or SRS funds. What’s more, as no medical underwriting is required, acceptance for Gro Capital Ease is guaranteed. Finally, there will be a single premium limit of $500,000 for each policyholder.

Do note that Gro Capital Ease will only be available for a limited period on a first come, first served basis. More information on Income’s Gro Capital Ease can be found here.

Notes

1. The guaranteed maturity benefit of 112.32% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 3.95% p.a.
2. The guaranteed yield at maturity of 3.95% p.a. will be paid out at the end of the 3-year policy term, provided that the insured survives at the end of the policy term, with no policy alterations or claims made during the entire policy term.
3. Net single premium means the single premium amount which is shown in the schedule, or the reduced single premium amount (if a part of this policy has been cashed in earlier).

*Disclosure: All opinions expressed in this article are solely those of Heartlandboy.com and do not reflect the opinions of Income Insurance Limited (“Income”). Income is not responsible nor liable to any party in any manner whatsoever for such opinions, and Heartlandboy.com is solely responsible for any opinion and the accuracy and completeness of any information and intellectual property used in this article. The information contained in this article pertaining to any insurance product or plan is provided and meant for general information only and do not constitute an offer, recommendation, solicitation or advice by Income or Heartlandboy.com to buy or sell any product(s), plan(s) or investment product(s). It is not and should not be relied on as financial advice and has no regards for any person’s investment and financial needs. If you are unsure whether this product or plan is suitable for you, you may seek personalised financial advice from a qualified insurance advisor. Otherwise, you may end up buying a product or plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. Precise terms, conditions and exclusions of the product are found in the policy contract.

For customised advice to suit your specific needs, consult an Income insurance advisor.

Protected up to specified limits by SDIC (applicable for Income products that fall under the Policy Owners’ Protection Scheme).

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information is correct as at 14 February 2023