Last Updated on by Tree of Wealth
This plan has been withdrawn since 1 July 2021.
NTUC Income’s Gro Prime Saver is essentially an endowment plan that gives you a flexibility of premium term choices and pays out on the 6th year thereafter. It also pays additionally after the 20th and 30th year as well as Guaranteed Issuance Option and Guaranteed increase of Death and TPD coverage at certain Life Milestones.
Features At a Glance
6th Year Yearly Cash Payout Till Age 100
A guaranteed annual cash payout equivalent of 2.1% of sum assured will be paid out after 5 years into your policy. There is also a non-guaranteed yearly cash bonus of up to 2% of sum assured. This cash payouts can be spent or re-invest with insurer.
Choose To Spend or Re-Invest
Re-investment rate of up to 3.25% refers to accumulating them with insurer. Your monthly cash benefit is your steady stream of payout for your spending. In the event if you would like to accumulate and save them, re-invest with Insurer at up to 3.25% (non-guaranteed rate).
Protection From TPD
Be covered against Total aWe also did a comparison withnd Permanent Disability (TPD) before the age of 70. Enjoy waiver of future premiums upon TPD before age 70 during premium term.
Flexibility of Premium Terms
Choose premiums over 5, 10, 15, or 20 years.
Guaranteed Issuance Option (GIO)
Application is hassle free & simple, and acceptance is guaranteed regardless of your health condition. No medical questionnaires nor health check-up required.
Additional Special Cash Benefits
Additionally of the regular cash payout, there will be an additional cash benefit equivalent to 4% of the sum assured after the 20th and 30th year of your policy, on top of your usual monthly cash payouts.
GIO Additional Coverage For Life Milestones
At the life stages specified with a waiting period of 12 months after the policy start date, you have the option to buy a life policy covering death and TPD on your own life without reassessment of health condition.
Life events include:
- Insured turning 21 years old
- Marital status changes to getting married
- Purchase of a residential property
- Becoming a parent
Centennial Maturity Benefit
As the name suggests, upon attaining the age of 100, you will receive a payout of 120% of the net single premium amount on top of your cash payout.
Exclusive Treats
Access exclusive treats from this exclusive rewards programme with a range of privileges. Find out more at – www.income.com.sg/IncomeTreats
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Conclusion For NTUC Gro Prime Saver
Single Premium Retirement planning using Cash & SRS is a helpful way of accumulating and growing your wealth. It is also making full use of the SRS feature and to further prepare your retirement even more. The SRS is a great concept and SRS-abled Retirement Plans complement it even further.
Are you considering Single Premium retirement planning with your Cash/SRS? Let us do the homework and help you compare across the different retirement plans in the market to save you time. Drop us an inquiry below and our professional experienced licensed FA advisor will get in touch with you shortly upon your request.
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