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

This October, NTUC Income (“Income”) has launched their short-term endowment plan –Gro Capital Ease, which offers a guaranteed yield at maturity of 1.48% p.a.¹. Here is Heartland Boy’s review of Income’s Gro Capital Ease.

Income’s 3-Year Endowment Plan: Gro Capital Ease

If you are looking to invest in a short-term endowment plan, look no further because Income’s Gro Capital Ease, a 3-year endowment plan is here. It is a non-participating plan with a guaranteed yield at maturity of 1.48% p.a.¹ which 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 premium. 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 premium.

About Income’s Gro Capital Ease

In the wake of today’s highly volatile economic environment due to COVID-19, Gro Capital Ease stands out with the following characteristics:

• A short-term endowment plan of just 3 years.
• Guaranteed yield at maturity of 1.48% p.a.¹
• Enjoy guaranteed maturity benefit of 104.51%² of the single premium after 3 years

Notes

1. The guaranteed yield at maturity of 1.48% p.a. will be paid out at the end of the 2-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.
2. The guaranteed maturity benefit of 105.51% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 1.21% p.a.

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 $200,000 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.

*Disclosure: This article is only for information. It reflects my opinion and not that of NTUC Income Insurance Co-operative Limited (“Income”). It is not financial advice and has no regards to any person’s investment and financial needs. Please seek advice from a qualified advisor for a suitable product. Past performance of a product is not indicative of its future performance. Income is not responsible to any person for this article including any unauthorised use of information. This is not an offer, recommendation or solicitation to buy or sell any products.

Precise terms, conditions and exclusions of products are in the policy contracts.

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 5 Oct 2021