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Why Gro Capital Ease (By NTUC Income) Might Be One Of The Best Short Term Plans!

NTUC Income (“Income”) has launched Gro Capital Ease, a new endowment plan for those who want to grow their savings in a short period of time yet do not want to take too much risk.

If you are one of them, this 2-year endowment plan fits the bill!

Gro Capital Ease Infographic

GRO CAPITAL EASE PLAN DETAILS

Gro Capital Ease is a 2-year non-participating, single premium endowment plan that provides you with a guaranteed return of 1.85% p.a.1.

For $10,000 you put in, the guaranteed maturity benefit will be $10,373 (rounded to the nearest dollar), based on a guaranteed maturity benefit of 103.73%2 (rounded to the nearest two decimal places) of the single premium.

It also provides protection during the policy term. In the event of death & total and permanent disability (TPD before age 70) within one year from the cover start date, the policy will pay out the net single premium. In the event of death or TPD (TPD before age 70) after one year from the cover start date, the policy will pay out 105% of the net single premium.

Gro Capital Ease as an alternative consideration

Some of you might be aware that Singapore Savings Bond (SSB) rates are now ONLY 0.3% p.a. over a 2-year period, hence Gro Capital Ease can be a viable alternative for your consideration.

Purchasing options for GRO CAPITAL EASE

Gro Capital Ease is available for purchase either online or through a financial adviser representative. For online purchase, the minimum single premium starts from $5,000, which can be paid via eNets, PayNow QR or Supplementary Retirement Scheme (SRS) funds. If you wish to go through a financial adviser representative, a minimum single premium of $20,000 is required, which can be paid via cash or SRS funds.


A point to note is that if you leave your funds in the SRS Account, it can only earn you minimal interest. However, parking your funds in Gro Capital Ease may help you grow it close to inflation rate.

Conclusion

This plan does not require medical underwriting, which means your acceptance is guaranteed. 


For a 2-year time frame and guaranteed returns, Gro Capital Ease can be a viable option for you if you have spare cash and do not want your funds locked in for too long. However, do note that it’s only available for a limited period and on a first come, first served basis.


More information on how to buy GRO CAPITAL EASE can be found here.

Notes

1. The guaranteed yield at maturity of 1.85% p.a. will be paid out at the end of the 2-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 103.73% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 1.85% p.a.

*Disclaimer: This post is written in collaboration with Income and is an expression of my own opinion. This article is meant purely for informational purposes and should not be construed as financial advice. For customised advice on your financial needs, you should seek advice from a licensed representative.*

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

Protected up to specified limits by SDIC.

Information is correct as at 24 June 2020

Josh Tan Jian Liang (CHFC) Principal Author

REVIEWS: https://theastuteparent.com/josh-tan Practising financial planner with Promiseland Independent Pte Ltd. EXPERIENCE: More than 13years. Josh Tan is a young parent, speaker, author and founder of TheAstuteParent.

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