NTUC has decided to come up with another short-term low-risk savings tranche of the popular Gro Capital Ease.
The Gro Capital tranche is a short-term insurance plan that is ideal for you if you have the following specific needs:
- Money meant for your child’s university or tertiary education in the next few years
- Money means for renovation, wedding banquet
Because the money will be locked up for a short period, these kinds of insurance endowment plans are not ideal if you need the money asap. For example, you wish to take advantage of the market downturn and invest at a low price. This is also not ideal if your relative needed help in the next 2 weeks, you really want to help, but with this, you might not be able to liquidate the money fast enough.
So do think about your needs.
Short-term insurance endowment plans are also ideal if you do not know what to do with your money and would like to earn a higher rate.
The NTUC Gro Capital is a 3-year endowment plan that will deliver a guaranteed yield at maturity of 1.96% p.a.1
All you need to do is commit a single premium (a one-time lump-sum payment), and at the end of the 3 years, you will receive a guaranteed maturity benefit of 106%2 of the single premium.
Here are some things to take note about Gro Capital Ease:
- Protection for death & total and permanent disability (TPD before age 70)
Should you die or become totally and permanently disabled within one year from the cover start date of the policy, Gro Capital Ease will pay out the net single premium. Otherwise, it will pay out 105% of the net single premium if you are in your second year of the policy term.
- Application can be done online, starting from just $5,000
Enjoy a hassle-free application from the comforts of your home when you apply online.
What’s more, the minimum single premium for Gro Capital Ease starts from just $5,000 per online transaction which can be paid via eNets, PayNow QR or Supplementary Retirement Scheme (SRS) funds.
However, if you like, you can still consult a financial advisor representative to assist with your application, which can be paid via cash or SRS funds. The minimum single premium for this option starts from $20,000.
- Guaranteed Acceptance
But that’s not all! With no medical underwriting required, you can be assured of guaranteed acceptance.
If you are interested, do hurry and sign up here as Gro Capital Ease is only available on a first-come, first-served basis for a limited period.
- The guaranteed yield at maturity of 1.96% 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.
- The guaranteed maturity benefit of 106% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 1.96 p.a.
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 regard for any person’s investment and financial needs. Please seek advice from a qualified advisor for a suitable product. The past performance of a product is not indicative of its future performance. Income is not responsible to any person for this article including any unauthorized 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 28 Sep 2020