Heartland Boy

Seriously Singaporean Financial Literacy

MENUMENU
  • About
  • Investment
    • Investment
      • REITS
      • Singapore Stocks
      • Singapore Property
      • Cryptocurrency
    • banner-woolworths-office

      At What Share Price Would I Be A Buyer Of AIMS APAC REIT?

      August 12, 2023 By Alison_Liew 2 Comments

    • rookie

      Rookie Investment Mistakes I Made When I Was A Beginner Investor 10 Years Ago

      posted in Investment, Singapore Stocks

    • hdb-sbf

      My Parents’ Palpitating Experience To Buy A HDB Sale of Balance Flat

      posted in Investment, Singapore Property

  • Banking & Insurance
    • Banking & Insurance
      • Bank Deposits
      • Bank Loans
      • Credit Card
      • Insurance
    • Boost your interest rate to up to 4.0% on your Citi Interest Booster Account

      posted in Bank Deposits, Banking & Insurance

    • scb-simply-cash-credit-card

      SCB replaces its unlimited cashback card with the simply cash credit card- here’s my review

      posted in Banking & Insurance, Credit Card

    • cancer-drug-list

      How Integrated Shield Plans’ downgrade from as charged to 5X of Medishield Life’s limit for cancer treatments affect you

      posted in Banking & Insurance, Insurance

  • Retirement
    • Retirement
      • Singapore CPF
      • Singapore SRS
      • Taxes
    • cpf-frs-retirement

      Significant personal finance milestone- I Achieved CPF Full Retirement Sum in 2023

      posted in Retirement, Singapore CPF

    • invest srs

      Why Invest Your SRS Funds In ETF

      posted in Retirement, Singapore SRS

    • Latest guide on tax reliefs and tax rebates for parents in Singapore

      December 3, 2023 By Alison_Liew Leave a Comment

  • Lifestyle
    • Lifestyle
      • Dining
      • Travel
      • Parenthood
      • Wedding
      • Others
    • review-of-mealpal-singapore-that-now-serves-hawker-food

      Review of MealPal Singapore That Now Serves Hawker Food

      posted in Dining, Lifestyle

    • family-holiday-bali-destination

      Our family holiday in Bali, a destination for beach and nature lovers

      posted in Lifestyle, Travel

    • customised-baby-cake-lenora

      How We Celebrated Lenora’s 100-Day Baby Shower In 2023

      posted in Lifestyle, Parenthood

  • Resources
  • Contact

Banking & Insurance Insurance

REVIEW OF INCOME’S 3-YEAR INSURANCE SAVINGS PLAN: GRO CAPITAL EASE

plant-money-gro-capital-ease-eco

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 insurance savings 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.2after 3 years
Gro Capital Ease Infographic 1320px

Diagram 1: Infographic of Income’s Gro Capital Ease (Source: Income)

EASILY ACCESSIBLE

You’ll be happy to know that Income’s Gro Capital Ease 3-year insurance savings 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 $10,000 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 insured.

Do note that Gro Capital Ease Eco 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 NTUC Income Insurance Co-operative 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


Leave a Comment

« Cruise To Nowhere: Royal Caribbean Spectrum of the Seas Review
My Experience Helping My Parents Apply For HDB Sale Of Balance (SBF) Flats »

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Welcome to Heartlandboy.com

Hello there, I am Heartland Boy! I am always thinking about how I can improve my financial literacy in order to achieve financial independence. This is the place to be if you are hungry for financial independence (sometimes good hawker food as well) and foolish enough to believe in the musings of Heartland Boy. Read More…

  • About Heartland Boy
  • Contact
  • Work With Us
  • Privacy Policy
As Seen On

Copyright © 2023 Heartland Boy · All Rights Reserved
All content expressed herein are the personal opinions of Heartland Boy and does not constitute the views of any company nor as professional financial advice.

Copyright © 2023 · Divine Theme on Genesis Framework · WordPress · Log in