NTUC Income Gro Prime Saver Review
The complete Pros and Cons on NTUC Income Gro Prime Saver
NTUC Income Gro Prime Saver provides cash payouts till age 100 whilst protecting against death as well as a peace of mind in the event of total and permanent disability.
NOTE: NTUC Income Gro Prime Saver has been phased out and is no longer available. The latest updated and upgraded version is NTUC Income Gro Cash Flex.
NTUC Income Gro Prime Saver product details
- Life policy – Whole Life Policy
- Covers:
- Death and total and permanent disability during the first 5 policy years: Pays 105% of all net premiums paid (excluding premiums paid on the riders) and a terminal bonus in the event of death or total and permanent disability (TPD before age 70)
- Death and total and permanent disability after the first 5 policy years: Pays 110% of all net premiums paid (excluding premiums paid on the riders) and a terminal bonus in the event of death or total and permanent disability (TPD before age 70)
- Accidental death and total and permanent disability: Receive an additional 100% of the sum assured if death or total and permanent disability is due to an accident. If the accident happened during a restricted activity, this benefit will be reduced to 60% of the sum assured
- After 5 policy years, you will receive a guaranteed yearly cash benefit equivalent to 2.1% of your sum assured, and a non-guaranteed yearly cash bonus of up to 2%.
- Pays a guaranteed special cash benefit equivalent to 4% of the sum assured will be paid out after the 20th and 30th policy year.
- You will also receive a centennial maturity benefit of 120% of all net premiums paid, on top of your cash payouts, at the point of policy maturity when the insured reaches a ripe old age of 100 years old.
- Pays a one-time benefit equivalent to one yearly cash benefit, of 2.1% of sum assured, if you get retrenched and are not able to find employment for 3 months.
- Your policy will be accepted regardless of your health condition
Read About: Whole Life Policy: How does it work?
In-depth Review: 3 Best Whole Life Plans in Singapore for Insurance Coverages (2023 Edition)
Features of NTUC Income Gro Prime Saver at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: No
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
Read About: 3 things to consider before taking up a new financial product
NTUC Income Gro Prime Saver may be suitable if you are looking for
NTUC Income Gro Prime Saver may potentially be a good fit if the following matters to you:
- Accumulating cash value in the policy for financial returns in the long-term.
- Paying premiums only for a limited number of years and enjoying coverage for a lifetime.
Read About: How much insurance coverage do you really need in Singapore *NEW*
In-depth Review: Term life vs Whole life – Which is better for you?
NTUC Income Gro Prime Saver may not suitable if you are looking for
NTUC Income Gro Prime Saver may potentially be a bad fit if the following matters to you:
- Liquidity or flexibility of withdrawal in your Insurance policy.
- Access to cash from your policy on a regular basis.
- Insurance policy with a high surrender value in the early years of the policy.
- Potentially higher financial returns compared to a pure investment product.
In-depth Review: 3 Best Endowment Savings Plans in Singapore with Lifetime Wealth Accumulation (2023 Edition)
In-depth Review: 3 Best Investment Linked Policies in Singapore for Wealth Accumulation (2023 Edition)
Further considerations on NTUC Income Gro Prime Saver
- How is NTUC or NTUC Income Gro Prime Saver investment returns based on historical performance?
- How does NTUC Income Gro Prime Saver compare with Whole Life Policy from other insurance companies?
- Can NTUC Income Gro Prime Saver fulfil my financial insurance, health and protection needs?
The above information may not fully highlight all the product details and features on NTUC Income Gro Prime Saver. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Gro Prime Saver.
Read About: Where do you start with financial planning?
Read About: 8 Commonly made financial mistakes by Singaporeans
Compare before you commit
Before committing to a whole life insurance policy, it certainly pays to make an effort to compare. Specific products features, benefits and payout 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?
Even worse, to know you can compare whole life insurance plans here, 100% free of charges on the InterestGuru.sg platform.
Is NTUC Income Gro Prime 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.
All financial reviews and proposals provided are 100% free of charge. There will be no obligation to take up any proposed financial products or services in any way.
*For a limited time, get attractive incentives when you take up any products that is proposed by our team of financial planners.
We compare quotations head to head on all leading insurers in Singapore
