This May, NTUC Income (“Income”) launched their short-term insurance savings plan – Gro Capital Ease Eco, which offers a guaranteed maturity benefit of 105.56%1 of the single premium after 3 years. Here’s Heartland Boy’s review of Income’s Gro Capital Ease Eco.
INCOME’S 3-YEAR INSURANCE SAVINGS PLAN: GRO CAPITAL EASE ECO
If you are looking to save and support a liveable future via a short-term insurance savings plan, look no further because Income’s first ESG (Environmental, Social and Governance) plan, Gro Capital Ease Eco, is now available. Gro Capital Ease Eco is a single premium non-participating insurance savings plan with carefully selected assets with high or improving ESG (Environmental, Social and Governance) scores for its portfolios. It gives you a lump sum payout with guaranteed return of 1.82% p.a.2 over 3 years. In addition, 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 premium.
ABOUT INCOME’S GRO CAPITAL EASE ECO
In the wake of today’s highly volatile economic environment, Gro Capital Ease Eco stands out with the following characteristics:
- A short-term insurance savings plan of just 3 years.
- Save with carefully selected assets with high or improving ESG scores for its portfolios for a sustainable future
- Guaranteed yield at maturity of 1.82% p.a.2
- Enjoy guaranteed maturity benefit of 105.56%1 of the single premium after 3 years
You’ll be happy to know that Income’s Gro Capital Ease Eco 3-year insurance savings plan has also been made so easily available and accessible. Enjoy the flexibility of purchasing Gro Capital Ease Eco 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 Eco is guaranteed. Finally, there will be a single premium limit of $200,000 for each policyholder.
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 Eco can be found here.
- The guaranteed maturity benefit of 105.56% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 1.82% p.a.
- The guaranteed yield at maturity of 1.82% 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.
- 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 26 May 2022