Last Updated on by Tree of Wealth
Replacing Gro Annuity is the new Gro Annuity II from NTUC Income. This is a single premium immediate annuity plan that provides for a regular lifetime income. It also has death protection. The plan is straight forward and has no rider.
Features At A Glance
The plan will pay regularly over the lifetime upon annuity starts. Have the option to choose the frequency for the payouts.
There is a death benefit amount consisting of the single premium less off total payouts of annuity upon the death of life assured. The single premium needs to be more than the total annuity that had been paid out.
Any outstanding of interests or policy loans will be deducted before paying out. The plan will be terminated after paying this death benefit.
HOW IT WORKS
The non-guaranteed figures above are based on the assumption that the Life Participating Fund earns a long-term average return of 4.25% per annum.
Should the long-term average return be 3.00% per annum, the total illustrated monthly annuity payout at age 95 would be $427.154. The total illustrated monthly annuity payout at age 65 would be $110.754.
Gro Annuity II is Suitable if You:
- Would like a Single Premium option
- Prefer regular stream of lifelong income
It would however be less suitable if you would like:
- High Payout that covers Death, TPD, Terminal Illness, Critical Illness of all stages including Early to intermediate to advance stage for a low premium.
- Multiple Payout for CI across all stages including Early to intermediate to advance stage for a low premium.
- High returns of more than 10%
- Immediate Break Even on Capital
Conclusion For NTUC Gro Annuity II
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