NTUC Income Gro Retire Flex Pro II Review (Updated)

Enjoy retirement your way with NTUC Income Gro Retire Flex Pro II — a flexible insurance savings plan designed to provide you with a steady stream of income in your golden years. Choose your preferred premium payment term, decide how long you’d like to receive payouts, and even shift your cash payout start date by up to 5 years. Whether you dream of retiring early or prefer to keep working, this plan adapts to your lifestyle, so you can retire on your terms, not out of necessity.

NTUC Income Gro Retire Flex Pro II product details

• Life policy – Annuity
• Flexible Premium Terms and Accumulation Period – Choose your premium payment terms and payout period to suit your budget and retirement needs
  • Choose to pay a single premium or over 5 to 20 years (5-year increments)
  • Customise your accumulation period and decide when you would like to start receiving monthly cash payouts based on your desired retirement age
  • Flexibility to select and change your payout period (10, 15, 20 years or till age 100) to suit your evolving needs
• Monthly Retirement Income Payouts – Receive monthly cash payouts during your retirement, providing an illustrated total yield at maturity of up to 4.08% p.a
  • Consists of guaranteed returns and non-guaranteed bonus
  • Choose to receive monthly retirement income over 10, 15, 20 years or up till age 100
  • Option to accumulate your cash payouts and receive interest at a rate of up to 3.00% p.a
• First in Singapore – Flexi Retire Option 
  • You may choose to either shorten or extend the accumulation period by up to 5 years
• Retrenchment Benefit
  • Premiums will be waived for 6 months should you become retrenched
  • If you remain retrenched and are unable to pay the premiums, you can choose to defer the payment of premiums for your policy for the next 6 months
• Disability Care Benefit; loss of use of one limb, speech, sight of one eye, or hearing in one ear
  • Receive a lump sum benefit of 12 times the monthly cash benefit and a waiver of future premiums with Disability Care Benefit
  • Not applicable for Single Premium Policy
• Accidental Death Benefit
  • Pays an additional 105% of all premiums paid on top of the death benefit
  • Not applicable for Single Premium Policy
• 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
    
    

Read about:  The 4 Best Retirement Annuity plans in Singapore (Updated)

Read about: The Complete Guide to Retirement Planning (Updated)

Features of NTUC Income Gro Retire Flex II 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.

Read about: 3 things to consider before taking up a new financial product

Read about: Effects of compounding returns on your investments

NTUC Income Gro Retire Flex Pro II may be suitable if you are looking for

NTUC Income Gro Retire Flex Pro II 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 II may not suitable if you are looking for

NTUC Income Gro Retire Flex Pro II 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 II

• How is NTUC Income or NTUC Income Gro Retire Flex ProII investment returns based on historical performance?
• How does NTUC Income Gro Retire Flex Pro II compare with Endowment policies from other insurance companies?
• Can NTUC Income Gro Retire Flex Pro II 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 II. 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.

Is NTUC Income Gro Retire Flex Pro II suitable for me?