Last Updated on August 8, 2023 by Tree of Wealth

Gro Cash Flex Pro is a new endowment savings plan with legacy planning elements build into it. One of the new plan from NTUC Income, it has a limited premium term with accumulation period of 5 more years as well as a new policy term of until 120 years old. This is similar to the previous Gro Gen Saver (withdrawn), as is encompasses the flexibility of cash withdrawals (on the 3^rd year, end of 2^nd year) where you can make withdrawals as and when you need it.

There are also protection elements for this plan. Let’s check it out!

Features At a Glance for NTUC Income’s Gro Cash Flex Pro

Cash Benefits on the 3^rd Year

At the end of the 2^nd year of the plan (3^rd year basically), receive cash benefits that comprises of guaranteed amount that is equivalent to 3% of the Sum Assured as well as non-guaranteed yield bonuses. This provides some flexibility while not locking up everything in the plan.

There is also an option to choose this cash benefit to be paid monthly.

Re-Invest Your Cash Benefits

You can receive the cash benefits paid out and should you choose not to use them, you have the option to accumulate and re-invest them at up to 3% annually (non-guaranteed)

Flexible Premium and Policy terms

A new feature that allows for policy term to be stretched as long as possible is to be able to go up to age 120 for the policy term. Premiums term can be short like 5 or 10 years, the advantage is that after your premium years have stopped, your wealth in the plan will continue to grow and compound continuously until you are age 120.

The idea is not to wait until 120 years old to receive the grand maturity amount (although it will be good to receive it then) but to accumulate and grow to have flexible cash withdrawal as and when you need it, as it is similar to an investment tool that is ongoing for life.

Available Premium and Policy Term

Premium Term (Years)	Policy Term (Years)
5	10, 15, 20, 25, 30 years or till age 120
10	15, 20, 25, 30 years or till age 120
15	20, 25, 30 years or till age 120
20	25, 30 years or till age 120
25	30 years or till age 120
30	Till age 120

Secondary Life Insured (SLI)

A good feature to add on to continue the legacy building, choose to appoint spouse or child (below age 18) to continue compounding the wealth growth in the event of death of the primary life insured. The plan will continue to grow for the SLI until the original Life Insured’s 120 years old.

Maturity Benefit

At the end of the policy term, there is a maturity amount consisting of the guaranteed and non-guaranteed yields, as well as the cash benefits of the wealth accumulated.

Death and Terminal Illness Protection

In the event of death or diagnosis of terminal illness, there is a coverage paid out to family members, protecting your capital and loved ones.

Total and Permanent Disability (TPD) Benefit

Upon TPD before age 70, this benefit pays out 2 years worth of annual premium of the base plan. With the Savings Protector Rider, it waives off future premiums of the base plan upon TPD.

Retrenchment Benefit (Compulsory Rider)

Upon being retrenched and unemployed for consecutively 3 months, this rider will allow the policy holder not to pay the premiums for 6 months. By the 5^th month if the policy holder remains retrenched, there is an option to defer the payment of premiums for another 6 months.

Application is hassle free & simple, and acceptance is guaranteed regardless of your health condition. No medical questionnaires nor health check-up required

Guaranteed Insurability At Life Milestones

Upon reaching life’s milestones with a waiting period of 12 months after the first inception of the plan, the primary life assured can apply another life insurance coverage to protect against death and total permanent disability with undergoing medical underwriting.

Life Milestone Events Includes:

• Getting Married
• Getting First Property
• Turning 21 years old
• Having a newborn

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.

Cancer Premium Waiver Rider (GIO)

Option to include this rider to waive off future premiums should life assured be diagnosed with advance stage cancer during premium term.

This is applicable for 1st and 3rd parties as well.

How NTUC Income’s Gro Cash Flex Pro Works

The NTUC Income Gro Cash Flex Pro Is Suitable if You:

• Flexible Premium Terms
• Cash benefits at the end of 2^nd year
• Low risk endowment instrument
• Secondary Life Insured continues a longer form of wealth accumulation and growth
• Secondary life Insured feature makes it a good plan for wealth legacy planning
• Wealth Growth with protection functions
• Ease of application, no medical underwriting
• No fluctuation on premiums

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%
• An Investment plan
• Immediate Break Even on Capital

The NTUC Income’s Gro Cash Flex Pro offers a combination of savings, legacy planning, and protection elements, providing a versatile financial tool for individuals at various life stages. Its unique features such as flexible premium terms, cash benefits, and the Secondary Life Insured feature allow it to stand out as a tool for long-term wealth accumulation and legacy planning.

However, like all financial instruments, it may not be suitable for everyone. As financial needs and goals differ among individuals, it’s crucial to ensure that any plan aligns with your specific objectives. To navigate these nuances and make an informed decision, we strongly recommend getting in touch with our dedicated financial advisor. Their expertise will guide you in tailoring a financial plan best suited for your needs. Let’s secure your future today!