NTUC Income Gro Retire Ease Review
The complete Pros and Cons on NTUC Income Gro Retire Ease
NOTE: NTUC Income Gro Retire Ease is formerly known as NTUC Income RevoRetire
NTUC Income Gro Retire Ease is a flexible savings plan that lets you craft your desired retirement lifestyle with monthly cash payouts, insurance coverage as well as additional peace of mind in the event of disability.
NOTE: NTUC Income Gro Retire Ease has been phased out and is no longer available. The updated and upgraded version is NTUC Income Gro Retire Flex.
NTUC Income Gro Retire Ease product details
NTUC Income Gro Retire Ease (now Gro Retire Flex) is featured for Disability Payout benefits in our 4 Best High Income Retirement Plans in Singapore (2023 Edition)
NTUC Income Gro Retire Ease (now Gro Retire Flex) is featured for Additional Retirement Income benefits in our 5 Best Insurance Plans for Retirement Income (2023 Edition)
- Life policy – Annuity
- The policy will be accepted regardless of your health condition
- Capital guaranteed upon reaching retirement age
- Guaranteed yield up to 2.70% per annum upon policy maturity
- High illustrated yield up to 4.84% per annum
- Flexible Premium Term
- Choose to pay premiums for 5 or 10 years, up till age 45, 50, 55, or 60
- Flexible Retirement Income Payouts
- Choose to receive monthly retirement income for 10, 20 or 30 years
- You can choose to start receiving your monthly retirement income after an accumulation period of just 10 or 15 years, or at age 50, 55, 60 or 65
- Reinvestment Option
- Choose to spend the monthly cash benefit and cash bonus as you wish or accumulate it at an interest rate of up to 3.5% p.a.
- Insurance Coverage
- Pays 105% of all net premiums paid, and 100% of the terminal bonus if death occurs during the accumulation period
- Pays 105% of all net premiums paid, and 100% of the terminal bonus, less all monthly cash benefits and cash bonuses paid out, except any cash benefit paid out under the Disability Care Benefit, if death occurs during the payout period
- Pays an additional 105% of all net premiums paid if accidental death happens before age 70. If the accident happened during a restricted activity, this benefit will be reduced to 63% of all net premiums paid
- Disability Benefit
- During premium payment term & accumulation period
- Receive a lump-sum cash benefit (6X the monthly income)
- Future premiums will be waived
- When the payout period starts
- Receive an additional 1X the monthly cash income per month until policy maturity
- During premium payment term & accumulation period
NTUC Income Revo Retire is a common search alternative for NTUC Income Gro Retire Ease.
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Features of NTUC Income Gro Retire Ease 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: Yes
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)
Enhanced Payor Premium Waiver
Dread Disease Premium Waiver
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.
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Policy Illustration for NTUC Income Gro Retire Ease, Dawn
Dawn, age 25, purchases NTUC Income Gro Retire Ease for her retirement. She chooses to pay a yearly premium of S$8,045,45 for the next 10 years and a retirement age of 65 as well as a payout period of 20 years, ensuring she receives stable income until her mid-80s.
By age 35, Dawn finishes paying her premium payments for her NTUC Income Gro Retire Ease policy with S$80,455 paid in premiums.
Upon age of 66, Dawn starts receiving a projected total monthly income of S$2,633.70. The total projected monthly income consists of guaranteed income + non-guaranteed bonuses.
By age 85, Dawn would have received a total projected income of S$632,088. Her NTUC Income Gro Retire Ease policy terminates thereafter.
Policy Illustration for NTUC Income Gro Retire Ease, Tony
Tony, age 25, purchases NTUC Income Gro Retire Ease for his retirement. He chooses to pay a yearly premium of S$10,783.40 and a retirement age of 55 as well as a payout period of 20 years, ensuring he receives stable income until his mid-70s.
By age 35, Tony finishes paying his premium payments for his NTUC Income Gro Retire Ease policy with S$107,834 paid in premiums.
Upon reaching age of 56, Tony starts receiving a projected total monthly income of S$2,125.50. The total projected monthly income consists of guaranteed income + non-guaranteed bonuses.
By age 75, Tony would have received a total projected income of S$510,120. His NTUC Income Gro Retire Ease policy terminates thereafter.
NTUC Income Gro Retire Ease may be suitable if you are looking for
NTUC Income Gro Retire Ease may potentially be a good fit if the following matters to you:
- Regular cash payout
- Saving regularly over a period of time
- Insurance options without medical underwriting
- Do not need access to the funds until retirement
- To potentially generate higher financial returns compared to bank accounts
NTUC Income Gro Retire Ease may not suitable if you are looking for
NTUC Income Gro Retire Ease may potentially be a bad fit if the following matters to you:
- Health and Protection coverage
- High insurance coverage for Death or Terminal Illness
- Insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
- Lump-sum payout upon maturity
- A one-time premium commitment with no further cash commitment
- Potentially higher financial returns compared to a pure investment product.
- Insurance policy with a high surrender value in the early years of the policy.
Further considerations on NTUC Income Gro Retire Ease
- How is NTUC Income or NTUC Income Gro Retire Ease investment returns based on historical performance?
- How does NTUC Income Gro Retire Ease compare with Endowment policy from other insurance companies?
- Can NTUC Income Gro Retire Ease 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 Retire Ease. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Gro Retire Ease.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Where can I compare the payout and benefits of retirement plans and annuity policies?
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Is NTUC Income Gro Retire Ease suitable for me?
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