Limited Offer: 2.81% p.a. Guaranteed upon Maturity with NTUC Income’s Gro Capital Ease; Use of SRS Allowed (August 2022)

Gro Capital Ease is a single-premium non-participating, 3-year insurance savings plan offered by NTUC Income. It offers a guaranteed yield at maturity of 2.81% 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 108.67² (rounded to the nearest 2 decimal places) of the single premium, based on the guaranteed yield at maturity of 2.81% p.a.¹ 

ProviderNTUC Income
Plan NameGro Capital Ease
Premium TypeSingle Premium
Minimum Single Premium$10,000 (if applied online)
$20,000 (through a financial advisor representative)
Maximum Single  PremiumSingle premium limit of $200,000 for each insured
Guaranteed ReturnsYield at maturity of 2.81% p.a.1
Maturity benefit of 108.67%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 with a minimum single premium of $10,000 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 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. If you’ve bought Singapore Savings Bond (that comes with limited allotment), you will be pleased to know that you can apply for as much as $200,000 per insured with Gro Capital Ease.

Also, you can use your SRS funds to subscribe to this if you wish. Contributing to SRS is an option for people to reduce their income tax, and you can use your SRS funds to apply for Gro Capital Ease.

How much would I get?

Here are some sample numbers to illustrate the returns:

Initial Single PremiumAmount after 3 Years*
$20,000$21,734
$50,000$54,335
$100,000$108,669

*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

Gro Capital Ease is a good option to consider for people who are more risk averse. If you want stable returns, Gro Capital Ease provides guaranteed1 returns 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 apply for as much as $200,000 per insured
  • You can use your SRS funds

The bad:

  • There is capital loss if plan is terminated prematurely

Notes:

  1. The guaranteed yield at maturity of 2.81% 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 108.67% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 2.81% 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).

All opinions expressed in this article are solely those of Sethisfy.com and do not reflect the opinions of NTUC Income Insurance Co-operative Limited (“Income”). Income is not responsible nor liable to any party in any manner whatsoever for such opinions, and Sethisfy.com is solely responsible for any opinion and the accuracy and completeness of any information and intellectual property used in this article. The information contained in this article pertaining to any insurance product or plan is provided and meant for general information only and do not constitute an offer, recommendation, solicitation or advice by Income or Sethisfy.com to buy or sell any product(s), plan(s) or investment product(s). It is not and should not be relied on as financial advice and has no regard for any person’s investment and financial needs. If you are unsure whether this product or plan is suitable for you, you may seek personalised financial advice from a qualified insurance advisor. Otherwise, you may end up buying a product or plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. Precise terms, conditions and exclusions of the product are found in the policy contract.

For customised advice to suit your specific needs, consult an Income insurance advisor.

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 August 2022


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