NTUC Income Gro Gen Saver Review
The complete Pros and Cons on NTUC Income Gro Gen Saver
Up to 4.42% p.a., NTUC Income Gro Gen Saver gives you flexibility in premium payment terms with future premiums waived should you be Total and Permanently Disabled during the premium payment term.
NOTE: NTUC Income Gro Gen Saver has been phased out and is no longer available. The latest updated and upgraded version is NTUC Income Gro Saver Flex.
NTUC Income Gro Gen Saver product details
- Life policy – Endowment and Saving policy
- The policy matures on the anniversary of your 120th birthday
- You can choose to pay a single premium (cash or SRS) or over 5, 10, 15 or 20 years (cash only)
- Withdraw the funds at any time to spend on key milestones
- Receive up to 4.42% per annum, 1.88% of which is guaranteed
- Capital guarantee from the 10th year onwards for single premium and 13th year onwards for other premium terms
- Future premiums are waived should you be Total and Permanently Disabled
- Guaranteed acceptance – no health questions asked
- Rider available to waive future premiums should you be diagnosed with major cancer during the term of the rider
Read about: Endowment and Saving policy: How does it work?
Read about: Endowment and Saving policy: Is it the best option?
Features of NTUC Income Gro Gen Saver at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: Yes
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Health and Insurance Coverage Multiplier
Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No
Optional Add-on Riders
Cancer Premium Waiver (GIO)
Additional Features and Benefits
Yes.
For further information and details, refer to NTUC Income website. Alternatively, fill-up the form below and let us advise accordingly.
Read about: Effects of compounding returns on your saving
Read about: Where do I start with financial planning
NTUC Income Gro Gen Saver may be suitable if you are looking for
NTUC Income Gro Gen Saver may potentially be a good fit if the following matters to you:
- A hassle-free application without medical underwriting
- Long term endowment savings plan
- To generate higher financial returns compared to bank accounts
- A one-time premium commitment with no further cash commitment or
- To save regularly over a period of time
- Liquidity or flexibility of withdrawal in your Insurance policy
- Leaving wealth for your loved ones
NTUC Income Gro Gen Saver may not be suitable if you are looking for
NTUC Income Gro Gen Saver may potentially be a bad fit if the following matters to you:
- High insurance coverage for Death
- Insurance coverage for Terminal Illness, Early Critical Illness, Critical Illness, or Total Permanent Disability
- Potentially higher financial returns compared to a pure investment product.
- Regular cash payouts
- Insurance policy with a high surrender value in the early years of the policy.
Read About: How can I accumulate a million dollar (Realistically)
Further considerations on NTUC Income Gro Gen Saver
- How is NTUC Income or NTUC Income Gro Gen Saver investment returns based on historical performance?
- How does NTUC Income Gro Gen Saver compare with Endowment policy from other insurance companies?
- Can NTUC Income Gro Gen Saver fulfill my financial, insurance, health, and protection needs?
The above information may not fully highlight all the product details and features on NTUC Income Gro Gen Saver. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Gro Gen Saver.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Read about: How can I accumulate a million dollar (Realistically)
Read About: 3 best Savings plans and endowment policies in Singapore (updated Jan 2023)
Where can I compare the payout and benefits of saving plans and endowment policies?
Before committing to an insurance policy, it certainly pays to make an effort to compare. Specific product features, benefits, and payouts will differ more than you think across insurance companies. Why regret only years later, when you find out that you are not getting the best insurance policy available for the premium paid?
Use our Compare NOW feature to receive the most competitive quotes on saving plans and endowment policies.
Alternatively, you just need to provide us with a couple of details below.
Is NTUC Income Gro Gen Saver suitable for me?
Contact InterestGuru using the form below. Our panel of licensed financial advisers will advise accordingly, based on your financial profile and protection needs.
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