NTUC Income’s Gro Cash Flex Review

NTUC Income’s Gro Cash Flex Review
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Last Updated on by Tree of Wealth

Gro Cash Flex 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 This is similar to the previous Gro Gen Saver (withdrawn), as is encompasses the flexibility of cash withdrawals (on the 3rd year, end of 2nd year) where you can make withdrawals as and when you need it.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

Cash Benefits on the 3rd Year

At the end of the 2nd year of the plan (3rd 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 3.25% 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.

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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 5th 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

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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.

Premiums Comparison Table – Female, Aged 30

Cash Value at age 65 (based on 4.25% illustrated projection)

$96,870 $114,243 $85,734 $105,379

Cash Value at age 70 (based on 4.25% illustrated projection)

$121,052 $136,542 $113,318

$130,535

Cash Value at age 75 (based on 4.25% illustrated projection) $152,089 $168,784 $148,887

$159,676

Cash Value at age 80 (based on 4.25% illustrated projection)

$183,244 $193,279 $177,715 $192,553
Annual Premium $4,543.75 $4,916,87 $4,591.30

$5,142,50

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How NTUC Income’s Gro Cash Flex Works

How NTUC Income’s Gro Cash Flex Works

How NTUC Income’s Gro Cash Flex Works
Source: Etiqa

The NTUC Income Gro Cash Flex Is Suitable if You:

  • Flexible Premium Terms
  • Cash benefits at the end of 2nd 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

Interested to learn more?

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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

Conclusion for Gro Cash Flex

We hope this review helps you in understanding the pros and cons of NTUC Income’s Gro Cash Flex and gives you a better consideration if it meets your savings objectives. All endowment savings 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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