Limited Offer: 1.48% p.a. Guaranteed upon Maturity with NTUC Income’s Gro Capital Ease; Use of SRS Allowed (October 2021)

If you are unfamiliar with the name, Gro Capital Ease is a single-premium non-participating, 3-year endowment insurance plan offered by NTUC Income. It offers a guaranteed yield at maturity of 1.48% p.a.¹ that will be paid out at the end of the 3-year policy term. This is provided that the insured survives at the end of the policy term, and no policy alterations or claims were made during the entire policy term.

This will provide you a guaranteed maturity benefit of 104.51² (rounded to the nearest 2 decimal places) of the single premium, based on the guaranteed yield at maturity of 1.48% p.a.¹

ProviderNTUC Income
Plan NameGro Capital Ease
Premium TypeSingle Premium
Minimum Single  Premium$5,000 (if applied online)
$20,000 (through a financial advisor representative)
Maximum Single  PremiumSingle premium limit of $200,000 for each policyholder
Guaranteed ReturnsYield at maturity of 1.48% p.a.1
Maturity benefit of 104.51%2 of the single premium
Tenure3 years
Other Features– Death & Total and Permanent Disability (TPD before age 70) benefit
– No medical underwriting required
– Can be purchased online via eGiro, PayNow QR or Supplementary Retirement Scheme (SRS) funds
– Can also be purchased with a minimum single premium of $20,000 through a financial advisor  representative using cash or Supplementary Retirement Scheme (SRS) funds

Note that this is a limited tranche which is available on a first come, first served basis, and you can apply online easily with a single premium from as low as $5,000 via online purchase to as much as $200,000. Also, you can use your Supplementary Retirement Scheme (SRS) funds to subscribe to this if you wish.

How much would I get?

Here are some sample numbers to illustrate the returns:

Initial Single PremiumAmount after 3 Years*
$20,000$20,901
$50,000$52,253
$100,000$104,506
*provided the insured survives at the end of the policy term, with no policy alterations or claims made during the entire policy term. Amounts are rounded to the nearest dollar.

If the insured passes away or suffers Total and Permanent Disability (TPD before age 70) within one year from the cover start date, the net single premium³ will be paid. If death or TPD occurs after the first year from the cover start date, 105% of the net single premium will be paid.

Sign up

No medical underwriting is required, and online application is fuss-free and quick. Do note that applications will close as soon as the limited tranche is fully taken up.

Conclusion

In a world of volatility, Gro Capital Ease may be one of the options for people who are more risk averse. The returns aren’t exciting, but it is guaranteed¹ as long as the plan is held to maturity.

The good:

  • Returns are guaranteed¹ upon maturity of the three-year tenure
  • Guaranteed acceptance (no medical underwriting required)
  • You can use your SRS funds

The bad:

  • There is capital loss if plan is terminated prematurely
  • Returns aren’t exciting
  1. The guaranteed yield at maturity of 1.48% p.a. will be paid out at the end of the 3-year policy term, provided that the insured survives at the end of the policy term, with no policy alterations or claims made during the entire policy term.
  2. The guaranteed maturity benefit of 104.51% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 1.48% p.a.
  3. Net single premium means the single premium amount or the reduced single premium amount if a part of the policy has been cashed in earlier.

This article is only for information. It reflects my opinion and not that of NTUC Income Insurance Co-operative Limited (“Income”). It is not financial advice and has no regards to any person’s investment and financial needs. Please seek advice from a qualified advisor for a suitable product. Past performance of a product is not indicative of its future performance. Income is not responsible to any person for this article including any unauthorised use of information. This is not an offer, recommendation or solicitation to buy or sell any products. Precise terms, conditions and exclusions of products are in the policy contracts.

Protected up to specified limits by SDIC (applicable for Income products that fall under the Policy Owners’ Protection Scheme).

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information is correct as at 5 October 2021

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