NTUC Income Gro Retire Flex Pro Review
The complete Pros and Cons on NTUC Income Gro Retire Flex Pro
NTUC Income Gro Retire Flex Pro is a retirement plan offering flexibility in premium terms and retirement age. Monthly retirement income payouts with guaranteed returns and non-guaranteed bonuses. Retrenchment and Disability Care benefits. Option to assign secondary life assured. Coverage for Death, Terminal Illness, and Accidental Death.
NTUC Income Gro Retire Flex Pro product details
- Life policy – Annuity
- Flexible Premium Terms and Accumulation Period – Choose how long you want to pay premiums and what age to retire
- Choose to pay a single premium or over 5 to 40 years (5-year increments)
- Option to pay with Cash or SRS
- Choose to accumulate your funds over 10 to 50 years to retire at the age of your choice
- Choose to pay a single premium or over 5 to 40 years (5-year increments)
- Monthly Retirement Income Payouts – Receive retirement income which you can invest at up to 3% p.a.
- Consists of guaranteed returns and non-guaranteed bonus
- Choose to receive monthly retirement income over 10, 20 years or up till age 100
- Spend these payouts as you wish or reinvest them for potentially higher returns in the future
- Retrenchment Benefit
- Premiums will be waived for 6 months should you become retrenched for 3 consecutive months
- Disability Care Benefit; loss of use of one limb, speech, sight of one eye, or hearing in one ear
- During the accumulation period – future premiums are waived and lump sum benefit (6x the guaranteed monthly income)
- During the payout period – receive an additional 50% of the guaranteed monthly income during the payout period
- Secondary Life Assured
- You can choose to assign a secondary life assured to carry on enjoying the benefits of this policy should you pass on before policy reaches its maturity
- Insurance Coverage – Be covered against Death & Terminal Illness
- During the accumulation period – 105% of net premiums paid and 100% of terminal bonus (if any)
- During the payout period – 105% of net premiums paid and 100% of terminal bonus, less any payouts paid
- Accidental Death Benefit
- Receive 105% of all net premiums paid on top of the death benefit should accidental death occur before age 70
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Features of NTUC Income Gro Retire Flex 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)
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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NTUC Income Gro Retire Flex Pro may be suitable if you are looking for
NTUC Income Gro Retire Flex Pro may potentially be a good fit if the following matters to you:
- Regular cash payout during your retirement
- Saving regularly over a period of time
- Pay a single premium with no further financial commitment
- SRS payment option retirement annuity
- 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 Flex Pro may not suitable if you are looking for
NTUC Income Gro Retire Flex Pro 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 Flex Pro
- How is NTUC Income or NTUC Income Gro Retire Flex Pro investment returns based on historical performance?
- How does NTUC Income Gro Retire Flex Pro compare with Endowment policies from other insurance companies?
- Can NTUC Income Gro Retire Flex Pro fulfill my financial, insurance, health, and protection needs?
The above information may not fully highlight all the product details and features of NTUC Income Gro Retire Flex Pro. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Gro Retire Flex Pro.
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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It is too late to regret once you have made your financial commitment. Specific product features, benefits, and payouts will differ more than you think across insurance companies.
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Is NTUC Income Gro Retire Flex Pro suitable for me?
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