NTUC Income Gro Retire Flex Review

The complete Pros and Cons on NTUC Income Gro Retire Flex

NTUC Income Gro Retire Flex product details

  • Life policy – Annuity
  • Flexible Premium Terms
    • Choose a lump-sum single premium or regular premium payment term of 5, 10, 15, 20, 25 or 30 years
    • For single premium option, you can pay with cash or your SRS
  • Retirement Income Payouts
    • Receive monthly guaranteed income & non-guaranteed bonuses
    • Choose to receive these payouts over 10 or 20 years or up till age 100
    • Spend these payouts as you wish or accumulate them at up to 3.25% per annum
  • 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
  • Retrenchment Benefit
    • Premiums will be waived for 6 months should you become retrenched for 3 consecutive months
  • Accidental Death Benefit
    • Receive additional 105% of all net premiums paid should accidental death occur before age 70
  • Disability Care Benefit; loss of use one one limb, speech, sight of one eye or hearing
    • During accumulation period – future premiums waived and lump sum benefit (6x the guaranteed monthly income)
    • During payout period – receive additional 50% of the guaranteed monthly income during the payout period

Read about:  The 4 best Retirement Annuity plans in Singapore (2021 Editions)

Read about: The Complete Guide to Retirement Planning (2021 Edition) *NEW*

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.

Read about3 things to consider before taking up a new financial product

Read aboutEffects of compounding returns on your investments

Policy Illustration for NTUC Income Gro Retire Flex, Dawn

Policy Illustration for NTUC Income Gro Retire Flex, Dawn

Dawn, age 35, purchases NTUC Income Gro Retire Flex for her retirement. She pays a yearly premium of S$7,147.80 for the next 25 years and a retirement age of 65 with a payout period of 20 years, ensuring she receives stable income until ag 85.

By age 50, Dawn finishes paying her premium payments for her NTUC Income Gro Retire Flex policy with S$178,695 paid in premiums.

Upon the age of 66, Dawn starts receiving a projected total monthly income of S$2,152.90. The total projected monthly income consists of guaranteed income and non-guaranteed bonuses.

If and Dawn loses the ability to perform 2 of 6 Activities of Daily Living (ADLs), she will receive an additional S$1,000 per month.

By age 85, Dawn would have received a total projected income of S$516,696. Her NTUC Income Gro Retire Flex policy terminates thereafter.

Policy Illustration for NTUC Income Gro Retire Flex, Jane

Policy Illustration for NTUC Income Gro Retire Flex, Jane

Jane, age 35, purchases NTUC Income Gro Retire Flex for her retirement. She pays a yearly premium of S$16,067.80 and a retirement age of 65with a payout period of 20 years, ensuring she receives stable income until age 85.

By age 35, Jane finishes paying his premium payments for his NTUC Income Gro Retire Flex policy with S$107,834 paid in premiums.

Upon reaching the age of 66, Jane starts receiving a projected total monthly income of S$2,732.80. The total projected monthly income consists of guaranteed income and non-guaranteed bonuses.

If and Jane loses the ability to perform 2 of 6 Activities of Daily Living (ADLs), she will receive an additional S$1,000 per month.

By age 85, Jane would have received a total projected income of S$655,872. Her NTUC Income Gro Retire Flex policy terminates thereafter.

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

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

NTUC Income Gro Retire Flex 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

  • How is NTUC Income or NTUC Income Gro Retire Flex investment returns based on historical performance?
  • How does NTUC Income Gro Retire Flex compare with Endowment policy from other insurance companies?
  • Can NTUC Income Gro Retire Flex 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 Flex. Talk to us or seek advice from a financial adviser before making any decision about NTUC Income Gro Retire Flex.

Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.

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