Review: NTUC Income Wealth Solitaire – Best Single Premium Lifetime Payout Plan?

NTUC Income Wealth Solitaire
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Last Updated on by Tree of Wealth

The NTUC Income Wealth Solitaire is a whole life paying endowment plan, with a single premium. It starts paying out after the 5th year and should you choose to accumulate it, the plan is  flexible in accommodating changes to suit what you need.

We also did a comparison with China Taiping’s Infinite Harvest (II) and Aviva’s MyLifeIncome II (Single Premium Option) for Best Single Premium Lifetime Income Plan.

Features At A Glance

6th Year Monthly Cash Payout For Life

In over a year, the cash payouts can accumulate up to 4.2% of your net single premium. This monthly cash payout consists of 0.13% guaranteed of the net single premium and 0.22% for non-guaranteed of the net single premium, basing on the 4.75% per annum. Over 12 months, this thus forms the guaranteed cash payout of 1.56% of net single premium and up to 2.64% of non-guaranteed cash bonus of the net single premium, based on the par fund’s returns of 4.75% projection. In total, the cash payouts add up to 4.2% consisting of guaranteed and non-guaranteed yields.

“Net Single Premium” means the premium that is portrayed on the policy illustration/ schedule or the revised amount if a part of it has been withdrawn previously, if any.

Protection Coverage

Be covered against Total and Permanent Disability (TPD) and Death before the age of 70. Receive additional payout of up to 105% of your net single premium for accidental death or accidental TPD before age 70.

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.

Choose To Spend or Re-Invest

Not to be confused with the 4.2% payouts above, this 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).

Additional Special Cash Benefits

On the 21st and 31st year of your policy, on top of your usual monthly cash payouts, there is an additional guaranteed cash benefit equivalent to 1.56% of your net single premium.

Interested to learn more?

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Centennial Maturity Benefit

As the name suggests, upon attaining the age of 100, you will receive a payout of 105% of the net single premium amount as well as a non-guaranteed terminal bonus. If there are any accumulated cash bonuses, they will also be paid. Having mentioned “Terminal Bonus’, this means that the policy will end and this is a final cash payout for the policy.

Solitaire Club

Access exclusive treats from this exclusive rewards programme with a range of privileges. Find out more at – www.income.com.sg/solitaire/privileges

How It Works

NTUC Income WEALTH SOLITAIRE
source: NTUC

The NTUC Income WEALTH SOLITAIRE is Suitable if You:

  • Low risk endowment instrument for guaranteed life payout
  • Prefer Guaranteed Life Income as well as guarantee on capital of total premiums paid at the end of the selected Accumulation period
  • Want a steady stream of guaranteed income (coupled with non guaranteed bonuses on the 21st and 31st year as well as on the 100th year)
  • Ease of application, no medical underwriting
  • No fluctuation on premiums

Interested to learn more?

Fill in the form below and we will get back to you!

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

Get Advice For Your Legacy Endowment

NTUC Income’s Wealth Solitaire is an endowment plan that gives 105% of your net single premium in a few tranches, namely on the 21st and 31st year as well as age 100. We hope this in-depth review helps you in understanding the pros and cons of the plan, as well as aiding in meeting your endowment savings objectives. All endowment legacy plans have their own advantages and disadvantages and it is recommended that you choose one that is within your objectives and liquidity needs to ensure you get the best possible value.

Fill in the form below and our friendly licensed FA advisor will get in touch with you based on your needs.
No obligations, no hidden fees. All advice are of no charges.

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