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Retire freely with Gro Retire Flex Pro II.
We spend years working hard, juggling responsibilities, and planning for the future, but when it comes to retirement, it often feels like the choice isn’t really ours. Some of us dream of slowing down earlier. Others may want to keep going a little longer.
That’s why having options matters.
Grab these deals
Get up to 1,800,000 STAR$®^ when you purchase Gro Retire Flex Pro II!🛡️
Find Out MoreHere's what you get with Gro Retire Flex Pro II.
Receive monthly cash payouts[1] during your retirement, providing an illustrated total yield at maturity of up to 4.08% p.a.[2,3].
Enjoy the freedom to choose your premium payment terms and set how long you would like to receive your payouts to suit your budget and retirement needs.
First in Singapore to allow you to adjust when your cash payouts[1] may begin by up to 5 years[4,5] if you decide to retire earlier or later.
Enjoy up to 12 months of financial relief through a premium waiver and the option to defer premiums in the event of retrenchment[6,7,8].
Additional coverage against accidental death[6,9] and disability[6,10].
Appoint your loved one as a secondary insured[11] so your policy can continue in the event of the death of the insured.
Receive protection as you save
Receive coverage in the event of death[12] or terminal illness[12]. The coverage offered depends on the time when the claim event happens:
| During the accumulation period |
|
| During the payout period |
|
We will pay the cash value if it is higher than the benefit shown in the table above[12].
Coverage provided by the Accidental Death Benefit[6,9] will apply for regular premium policies only.
Receive a lump sum benefit of 12 times the monthly cash benefit and a waiver of future premiums with Disability Care Benefit[6,10] if the insured is diagnosed during the policy term with any one of these conditions due to accidental injury or sickness - loss of use of one limb, irreversible loss of speech, loss of sight of one eye or deafness (irreversible loss of hearing).
Coverage provided by the Disability Care Benefit[6,10] will apply for regular premium policies only.
Should you get retrenched, you do not have to pay premiums for your policy for 6 months with our Retrenchment Benefit[6,7]. You will still receive the same coverage during that time and have peace of mind while looking for a new job. If you remain retrenched and are unable to pay the premiums, you can choose to defer[8] the payment of premiums for your policy for the next 6 months.
Need more protection?
Enhance your coverage with a rider.
You will not need to make future premium payments for your basic policy if you are diagnosed with a major cancer[13] during the term of the rider.
(Only applicable if the insured is not the policyholder) You will not need to make future premium payments for the basic policy that you have bought for a loved one, if you pass away, are totally or permanently disabled (before age 70), or are diagnosed with dread disease[14] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
You will not need to make future premium payments for your basic policy if you are diagnosed with dread disease[14] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Meet Raymond in his 40s, who enjoyed his corporate life but loves the sun even more.
Meet 60-year-old Rose who built her life around work but now her music takes centre stage.
Receive protection as you save
Death Benefit and Terminal Illness Benefit
| During the accumulation period |
|
| During the payout period |
|
We will pay the cash value if it is higher than the benefit shown in the table above.
Accidental Death Benefit
Coverage provided by the Accidental Death Benefit[5][6] will apply for regular premium policies only.
Disability Care Benefit
- Loss of use of one limb
- Loss of speech
- Loss of sight of one eye
- Loss of hearing
| During accumulation period | Waiver of future premiums[9] | Lump sum benefit[10] | Additional amount[11] equal to 50% of the monthly cash benefit will be paid on top of each monthly cash benefit during the payout period or until the Gro Retire Flex Pro – Protection Benefit rider ends, whichever is earlier |
| During payout period | Additional amount[11] equal to 50% of the monthly cash benefit will be paid on top of each monthly cash benefit during payout period or until the Gro Retire Flex Pro – Protection Benefit rider ends, whichever is earlier | ||
Coverage provided by the Disability Care Benefit[5][7] will apply for regular premium policies only.
Retrenchment Benefit
Let us walk you through Gro Retire Flex Pro.
Alan, age 40, decides to plan for his retirement and aims to receive a monthly cash benefit1 of $1,000 when he retires. He signs up for the Gro Retire Flex Pro II plan, committing to an annual premium of $17,208 for the next 10 years. He chooses to retire at age 65 and receive monthly payouts for 20 years.
Please refer to the illustration below for the breakdown of the total dollar payout ratio and illustrated yield.
Here’s how Gro Retire Flex Pro II provides a monthly income stream for Alan’s dream retirement
Important notes
- At least 2 years after the policy entry date; and
- At least 2 years before the end of your original or revised accumulation period, whichever is earlier.
Jane, age 50, with a few more years left in the workforce, signs up for the Gro Retire Flex Pro II plan to help her save for a comfortable retirement. She aims to receive a monthly cash benefit1 of $1,000 when she retires and commit to an annual premium of $41,275 for the next 5 years. She opts to retire at age 65 and receive monthly payouts for 20 years.
Age 50 to 55:
Jane starts paying an annual premium of $41,275 for 5 years. Total premiums paid for 5 years: $206,372.
Age 50 to 65:
Jane’s accumulation period for her policy is 15 years.
Important notes
Find out how much you need to retire
Your policy toolkit
Eligibility and payment frequency
For policyholders
| Minimum Entry Age (last birthday) | Maximum Entry Age (last birthday) |
|---|---|
| 16 ^ | N.A. |
For the insured
| Premium Term | Minimum Entry Age (last birthday) | Maximum Entry Age (last birthday) |
|---|---|---|
| Single Premium | 20 | 75 |
| 5 years | 20 | 65 |
| 10 years | 20 | 60 |
| 15 years | 20 | 55 |
| 20 years | 20 | 50 |
^Parents cannot take up policies on the lives of their children who are 18 years old (age last birthday) and above.
To select the payout period option till age 100 of the original insured, the sum of the insured’s entry age and accumulation period will need to be at least 50.
You can make your payments monthly, quarterly, half-yearly, or yearly.
Your queries answered.
Gro Retire Flex Pro II is an endowment plan. It comprises of two periods, (i) accumulation period and (ii) payout period. The accumulation period helps you to build up savings and provide a regular income during the payout period.
(i) Accumulation Period
The accumulation period starts from policy entry date and it will range from 5 years up to 50 years for the single premium term while it will range from 10 years up to 50 years for the regular premium terms. During the accumulation period, depending on the premium term selected, premiums are payable as a single premium, for 5, 10, 15 or 20 years. Premiums are payable up to 5 years before the end of the accumulation period.
(ii) Payout Period
The payout period option of 10, 15, 20 years or till age 100 of the original insured, begins immediately after the end of the accumulation period. During the payout period, a stream of monthly cash benefit will be paid, and the first monthly cash benefit will be paid on the anniversary immediately after the end of the accumulation period.
This plan provides protection against death and terminal illness of the insured during the policy term.
This policy includes a non-participating regular premium compulsory rider, Gro Retire Flex Pro II – Protection Benefit. It pays accidental death benefit, disability care benefit and retrenchment benefit. This compulsory rider is only applicable for regular premium basic policy and cannot be removed. This rider will end immediately when its basic policy ends.
Gro Retire Flex Pro II is a participating life insurance policy. It allows you to participate in the performance of the Life Participating Fund in the form of bonuses that are not guaranteed.
Health underwriting is not applicable. However, financial underwriting is applicable.
If the insured is diagnosed with terminal illness or dies during the accumulation period or payout period, we will pay the benefit shown in the table below.
| Time when claim event happens | Benefit |
| During the accumulation period | 1. The higher of: • 105% of all premiums paid; or • the guaranteed portion of the cash value, and
|
| During the payout period | 1. The higher of: • 105% of all premiums paid less all monthly cash benefits paid; or • the guaranteed portion of the cash value, and
|
We will pay the cash value if it is higher than the benefit shown in the table above.
We will also pay any accumulated cash benefits and cash bonuses.
This policy will end when we make this payment.
If you have appointed a secondary insured before the insured dies, we will not pay this benefit. Upon the death of the insured, the secondary insured becomes the insured and this policy will continue.
Terminal illness, and terminally ill, means “any condition caused by illness or injury, where at the time of claim, despite all reasonable medical treatment, the insured is expected to live for no more than 12 months.”
The specialist medical practitioner treating the condition must provide supporting evidence of the condition, possible medical treatment, the prognosis after undergoing the possible medical treatment, and certify that the insured is expected to live for no more than 12 months despite all possible medical intervention. We reserve the right to appoint an independent medical specialist who is an expert in the condition to confirm the diagnosis and prognosis.
Terminal Illness in the presence of HIV infection is excluded.
We will not pay this benefit if your claim arises from:
- deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
- unlawful acts, provoked assault, or deliberate exposure to danger; or
- the effects of alcohol, drugs or any dependence.
This policy is not valid if the original insured commits suicide within one year from the cover start date.
We will refund the total premiums paid, without interest, less any amounts we have paid you, and any amount you owe us, from the cover start date.
The policyholder can select a payout period of 10, 15, 20 years or till age 100 of the original insured. We will pay the first monthly cash benefit on the policy anniversary immediately after the end of the accumulation period.
To select the payout period option till age 100 of the original insured, the sum of the insured’s entry age and accumulation period will need to be at least 50. The age of the insured at the point of policy issuance will be used to compute the payout period.
Yes, you can choose to change the payout period, subject to the following conditions:
- The request to change the payout period must be made on a date:
a) At least 2 years after the policy entry date; and
b) At least 30 days before the first monthly cash benefit. - You have not made a claim on the disability care benefit; and
- You can only change the payout period once.
If you change the payout period, the following will apply:
- We will recalculate your policy benefits (including cash benefit and guaranteed cash value), bonuses (if any) and rider benefits (if any), according to the revised payout period; and
- You will no longer be able to change your payout period.
The cash benefit is paid monthly during the payout period. The first monthly cash benefit will be paid on the anniversary immediately after the end of the accumulation period.
You can choose to use the cash benefit in any one of the following ways.
- Place it in a deposit account to earn interest at a rate we will set.
- Receive it as a payout.
We will write to you before the first cash benefit to remind you what you chose. If we do not receive your instruction from you at least 30 days before the first cash benefit is due, we will go ahead with your original wishes.
We will follow this same choice for the later cash benefits, unless you tell us your choice at least 30 days before the next cash benefit is due.
You may appoint or remove a secondary insured before the death of the insured provided the following conditions are met:
- the premium of this policy is paid only with cash;
- no nomination of beneficiary has been made for this policy; and
- there is no change to the ownership of this policy except via absolute assignment.
In the event of death of the insured, the secondary insured will become the insured of the policy and the policy continues until the death of the insured or end of the policy term, whichever happens first.
Any premium payments shall continue to be payable.
The policy can only have one insured at any point of time.
The secondary insured must be yourself (before the age of 75 years old), your spouse (before the age of 75 years old), or your child or ward (before the age of 18 years old) at the time of appointment.
You can exercise this option to appoint a secondary insured no more than three times.
The flexi retire option allows you to shorten or extend the accumulation period, by up to 5 years, in multiples of 1 year, subject to the following conditions:
- The request to exercise this option must be made on a date:
a) At least 2 years after the policy entry date; and
b) At least 2 years before the end of your original or revised accumulation period, whichever is earlier. - The revised accumulation period falls within the minimum and maximum accumulation period available, depending on the entry age of the original insured, and the payout period cannot exceed age 100 of the original insured;
- You have not made a claim on the disability care benefit;
- You do not have any policy loan on this policy; and
- You can only exercise this option once.
We reserve the right to reject or accept any request under this option.
If you exercise this option, the following will apply:
- The accumulation period will be revised accordingly;
- The payout period option will not change;
- We will recalculate the benefits of your policy (including cash benefit and guaranteed cash value), bonuses (if any) and rider benefits (if any), according to the revised accumulation period; and
- You will not be able to change your option.
Illustration of Flexi Retire Option based on current limits of Accumulation Period
Accumulation Period | Number of years to shorten Accumulation Period (if exercised FRO) | Number of years to extend Accumulation Period (if exercised FRO) | Subject to maximum age at end of accumulation period | |
Single Premium | 5 | 0 | Up to 5 | 80 |
15 | Up to 5 | Up to 5 | ||
50 | Up to 5 | 0 | ||
5 Years | 10 | 0 | Up to 5 | 75 |
15 | Up to 5 | Up to 5 | ||
50 | Up to 5 | 0 | ||
10 Years | 15 | 0 | Up to 5 | 75 |
20 | Up to 5 | Up to 5 | ||
50 | Up to 5 | 0 | ||
15 Years | 20 | 0 | Up to 5 | 75 |
25 | Up to 5 | Up to 5 | ||
50 | Up to 5 | 0 | ||
20 Years | 25 | 0 | Up to 5 | 75 |
30 | Up to 5 | Up to 5 | ||
50 | Up to 5 | 0 |
Gro Retire Flex Pro II – Protection Benefit is a non-participating, regular premium compulsory rider that provides coverage for Accidental Death Benefit, Disability Care Benefit and Retrenchment Benefit.
This compulsory rider is only applicable for regular premium basic policy and cannot be removed.
This rider will end immediately when its basic policy ends.
If the insured dies as a result of an accident (before the anniversary immediately after insured reaches the age of 70), we will pay an additional 105% of all premiums paid, on top of the death benefit, as long as the insured was not taking part in a restricted activity at the time of the accident. If the insured was taking part in a restricted activity at the time of the accident, we will only pay an additional 63% of all premiums paid, on top of the death benefit.
We will pay this benefit only if the death happens within 365 days of the accident.
If you have appointed a secondary insured before the insured dies as a result of an accident (before the anniversary immediately after insured reaches the age of 70), we will not pay this benefit. Upon the accidental death of the insured, the secondary insured becomes the insured and this rider and its basic policy will continue.
This rider and its basic policy will end when we make this payment. We will not pay any further benefits.
Restricted activity means any of the following activities:
- Duties as firefighters, police force personnel, fishermen, armed security guards, aircrew, ship crew, marine salvage crew, oil riggers, dock workers, drivers, despatch riders, driving instructors, bodyguards and bouncers;
- Any activities involving explosives, heavy machinery, woodworking, dangerous gases or substances, using underwater breathing apparatus, work on construction or demolition sites, work at heights above 10 metres, work in underground tunnels, oil and gas rigs or offshore work;
- Military, air force or naval operations in peacetime, including training and exercises for national servicemen or reservists in peacetime;
- Motorcycling whether as rider or pillion rider; or
- Professional sports, any form of race (except racing on foot, cycling or swimming), action or adventure sports that involve speed, height at above 10 metres, highly specialized gear, stunts or using underwater breathing apparatus. This definition includes rock climbing, mountaineering, parachuting, white-water rafting, horse riding, winter sports and scuba diving.
Accident and accidental mean an unexpected incident that results in an injury or death. The injury or death must be caused entirely by being hit by an external object that produces a bruise or wound, except for injury or death caused specifically by drowning, food poisoning, choking on food, or suffocation by smoke, fumes or gas.
We will not pay the accidental death benefit if the claim arises directly or indirectly from:
- deliberate acts such as self-inflicted injuries, suicide or attempted suicide;
- unlawful acts, provoked assault or deliberate exposure to danger;
- the effects of alcohol, drugs or any dependence;
- illnesses, psychological conditions or eating disorders;
- heat stroke;
- a bad reaction to drugs or medication;
- the effects of viruses (for example, dengue),bacteria or diseases;
- the negative effects or complications of medical and surgical care;
- treatments aimed at improving appearance, such as cosmetic surgery or any treatment relating to a previous cosmetic treatment;
- radiation or contamination from radioactivity;
- being in any aircraft, except as a fare-paying passenger in a commercial aircraft, or during military operations in peacetime;
- military, air force or naval operations, except when carried out in peacetime;
- warlike operations (whether war is declared or not), war, invasion, riot or any similar event;
- an accident which happens outside of Singapore; if the insured has been outside Singapore for more than 180 days in a row at the time of the accident; or
- an act of terrorism.
We will pay you a lump-sum benefit equivalent to 12 times the monthly cash benefit, if the insured is diagnosed with any one of the conditions shown in Table 1 arising from accidental injury or sickness during the policy term of the basic policy.
Table 1
| Item | Condition* |
| 1 | Loss of use of one limb |
| 2 | Irreversible Loss of Speech |
| 3 | Loss of sight of one eye |
| 4 | Deafness (Irreversible Loss of Hearing) |
You will stop making premium payments on this rider and its basic policy for the remaining term of the policy. This rider and its basic policy will continue to apply (as if premiums have been paid) during this period even though you are not paying the premiums.
If the insured is covered for any disability care benefit under any policies (including this policy) which have been issued and paid by us, the total of these benefits under all these policies cannot be more than S$1.1 million, including additional monthly cash benefits under all applicable optional riders issued by us, lump-sum benefit and premiums waived, under the disability care benefit for the same insured. If the total of these benefits will exceed the stated S$1.1 million limit, we will first take into account the amounts due under the earlier policies, and then pay an amount to bring the total benefits to the stated S$1.1 million limit.
You cannot change the payout period or exercise the Flexi Retire Option after you claim this benefit.
You can only claim this benefit once and the benefit cannot be accumulated with us at the prevailing interest rate.
*Please refer to the policy conditions for the definition of each condition.
Except as stated in the last paragraph of this section, we will not pay this benefit if the claim arises from:
- deliberate acts such as self-inflicted injuries, illnesses or attempted suicide;
- unlawful acts, provoked assault or deliberate exposure to danger;
- the effects of alcohol, drugs or any dependence;
- acquired immunodeficiency syndrome (AIDS), AIDS-related complex or infection by human immunodeficiency virus (HIV);
- treatments aimed at improving appearance, such as cosmetic surgery or any treatment relating to a previous cosmetic treatment;
- being in any aircraft, except as a fare-paying passenger in a commercial aircraft, or during military operations in peacetime;
- taking part in any professional sports, any form of race (except racing on foot, cycling or swimming), action or adventure sports that involve speed, height at above 10 metres, highly specialized gear, stunts or using underwater breathing apparatus. This definition includes rock climbing, mountaineering, parachuting, white-water rafting, horse riding, winter sports and scuba diving;
- a claim that is excluded or not covered under the terms of this rider;
- a chronic illness where the insured suffered symptoms of, had investigations for, was treated for, or was diagnosed with any time before or within 90 days from:
- the cover start date, for the original insured; or
- the date the secondary insured (if applicable) becomes the insured of this policy for the remaining policy term, the date we reinstate this rider or the date we issue an endorsement to include or increase a benefit, whichever is latest, for the secondary insured; or
- an impairment where the insured suffered symptoms of, had investigations for, was treated for, or had any time before or within 90 days from:
- the cover start date, for the original insured; or
- the date the secondary insured (if applicable) becomes the insured of this policy for the remaining policy term, the date we reinstate this rider or the date we issue an endorsement to include or increase a benefit, whichever is latest, for the secondary insured.
Where you have exercised the Flexi Retire Option or change in payout period and this increases the benefits to be paid out under this policy, we will not pay the increased portion of such benefits if the claim arises from:
- a chronic illness where the insured suffered symptoms of, had investigations for, was treated for, or was diagnosed with any time before or within 90 days from the date of exercise of the Flexi Retire Option or change in payout period; or
- an impairment where the insured suffered symptoms of, had investigations for, was treated for, or had any time before or within 90 days from the date of exercise of the Flexi Retire Option or change in payout period.
If you are retrenched, you will not have to pay the premiums for this rider and its basic policy for six months from the next premium due date onwards. For this to apply, you must meet all the following conditions:
- You must have paid at least six months’ premiums;
- Your retrenchment must have taken place no earlier than six months after the cover start date; and
- You have not been able to find employment for three months in a row after being retrenched.
You will have to pay premiums for the month that you start permanent paid employment and this benefit will end.
At the end of the fifth month when you have stopped paying premiums, you can choose to defer the premiums for this rider, its basic policy and optional riders for the next six months. For this to apply, you must meet all the following conditions:
- You remain retrenched and are unable to pay premiums;
- If the basic policy does not have any or sufficient cash value to activate the automatic premium loan; and
- You must inform us at least one month before the start of the deferment period.
The following will apply during the deferment period:
- This rider, its basic policy and any optional rider will remain in force;
- Anniversary remains unchanged;
- Any cash benefit payable will be paid after deducting the deferred premiums due;
- Bonus will continue to be declared; and
- You are not allowed to take a policy loan on the basic policy.
At the end of the deferment period, you will need to pay the deferred six months premium in a single payment.
You can claim for the retrenchment benefit only once under this rider.
Retrenched and retrenchment mean losing your job as a result of redundancy or because your employer’s profession, business, trade or work is being reorganised.
Employer means any person, company, association, club, society or organisation that is formed, incorporated or registered in Singapore and which employs people. This includes the Government and any statutory organization or authority in Singapore.
Permanent paid employment means entering into any contract of service with any person, company, association, club, society, government or authority, whether in Singapore or overseas, where you agree to serve as an employee, including an apprenticeship contract or agreement, or are self-employed.
Self-employed means being a sole proprietor, a partner of a business or employed by a business or company where you or your husband or wife, parents, parents-in-law, brothers and sisters, brothers- and sisters-in-law or children own at least 20% of the share capital or are entitled to at least 20% of the profits, either individually or jointly.
Deferment period means the period of six months when you are allowed to postpone the payment of premiums.
We will not pay this benefit if the claim arises from:
- retiring, leaving after a probation period, resigning or being dismissed;
- suffering a psychological condition, disability or illness;
- taking part in a labour dispute;
- coming to the end of an employment contract;
- being involved in a staff-reduction programme or unemployment you knew was going to happen before the cover start date;
- being employed for less than six months by an employer; or
- being employed by an employer not incorporated or registered in Singapore.
Riders, also known as supplementary benefits, can be attached to a basic insurance policy to provide additional protection at lower cost.
The following rider(s) can be added to Gro Retire Flex Pro II:
| List of available rider(s) |
| Cancer Premium Waiver (GIO) |
| Dread Disease Premium Waiver* |
| Enhanced Payor Premium Waiver* |
*Health underwriting is applicable
Yes, for regular premium policy, you can only cash in this policy after you have paid premiums for at least two years.
For single premium policy, you can only cash in this policy after you have paid the single premium.
During the accumulation period only and if we have not paid the disability care benefit, you may choose to cash in this policy partially and keep the benefits on the part that you do not cash in.
Yes, this policy is eligible for bonuses. There are two types of bonuses:
- During the accumulation period and payout period, we may pay a ‘terminal’ bonus at the time of making a claim, when we pay you the maturity benefit (if applicable), or if you cash in this policy.
- During the payout period, we may pay a cash bonus on top of each monthly cash benefit. We pay this cash bonus together with the monthly cash benefit during the payout period. We may or may not pay this cash bonus for each monthly cash benefit.
These bonuses are not guaranteed. They are recommended by our Appointed Actuary and approved by our Board of Directors.
To avoid doubt, Gro Retire Flex Pro II – Protection Benefit does not form part of the Life Participating Fund, and no bonus is payable on the benefit.
You have a choice to pay via a single premium or premium term of 5 years, 10 years, 15 years or 20 years. Premiums are payable up to 5 years before the end of the accumulation period.
You will not be able to change your premium term.
The accumulation period will range from 5 years up to 50 years for the single premium term while the accumulation period will range from 10 years up to 50 years for the regular premium terms.
Gro Retire Flex Pro II
For single premium:
| Minimum | Maximum | |
| Insured | 20 | 80 less Accumulation Period Chosen |
| Policyholder | 16 | N.A. |
For regular premium:
| Minimum | Maximum | |
| Insured | 20 | 75 less Accumulation Period Chosen |
| Policyholder | 16 | N.A. |
Gro Retire Flex Pro II – Protection Benefit
For regular premium:
| Minimum | Maximum | |
| Insured | 20 | 75 less Accumulation Period Chosen |
| Policyholder | 16 | N.A. |
Gro Retire Flex Pro II – Protection Benefit is a compulsory rider and will be included with the basic policy.
The minimum premium allowed is as follows:
For single premium:
Cash: S$20,000
SRS: S$15,000
For regular premium:
| Premium Payment Frequency | 5-pay | 10-pay, 15-pay, 20-pay |
| Monthly | S$400 | S$200 |
| Quarterly | S$1,188.40 | S$594.20 |
| Half-Yearly | S$2,354.00 | S$1,177.00 |
| Yearly | S$4,615.20 | S$2,307.60 |
The maximum total premium amount is S$2,000,000.
You can pay either via a single or regular premium.
For regular premium, the premiums can be paid monthly, quarterly, half-yearly or yearly.
For single premium, this plan can be bought using cash or SRS. For regular premium, this plan can only be bought using cash.
Backdating is allowed if all of the following conditions are met:
i. The backdating is for a traditional individual (savings or protection) life policy paying regular premium or single premium. Backdating for investment-linked policy and annuity policy is not allowed;
ii. The backdating results in a lower premium or better protection value / policy payouts due to a lower entry age; and
iii. The policy is backdated to a date up to one day before the Insured’s last birthday and it must be within 6 months from date of receipt of application by Income.
iv. Backdating of policy to a date before the launch date of the main plan or rider is not allowed.
Yes, we may grant the loan from this policy depending on our terms and conditions.
We will take all loans and their interest from any amount we may be due to pay under this policy. If at any time the amount of the loans and interest is more than the cash value, this policy will end.
Understand the details
[1] The cash payout consists of a monthly cash benefit and a non-guaranteed cash bonus.
[2] This is for illustration purposes only. The total yield at maturity is not guaranteed and is based on the assumption that the Life Participating Fund earns a long-term average return of 4.25% per annum for a male non-smoker, aged 40, who chooses a retirement age of 70, a payout period of 20 years and pays a single premium. It is also based on the assumption that all cash benefits and non-guaranteed cash bonuses due for the entire policy term are paid out to the policyholder. Based on the illustrated investment rate of 3.00% per annum, the total yield at maturity will be up to 2.97% per annum.
[3] The figures in the illustration are not guaranteed and are illustrated based on the assumption that the Life Participating Fund earns a long-term average return of 4.25% per annum in the future. Returns are illustrated based on estimated bonus rates that are not guaranteed. The actual benefit payable will vary according to the future performance of the Life Participating Fund. The calculation for the illustrated total yield at maturity also assumes that all cash benefits and non-guaranteed cash bonuses due for the entire policy term are paid out to the policyholder.
[4] The policyholder may choose to shorten or extend the accumulation period, by up to 5 years, in multiples of 1 year. The request to exercise this option must be made on a date:
a) At least 2 years after the policy entry date; and
b) At least 2 years before the end of your original or revised accumulation period, whichever is earlier.
Other terms apply for this benefit. Please refer to the policy conditions for further details.
[5] Please note that your policy benefits (including cash benefits, death benefit and surrender value), bonuses (if any) and riders (if any) may change if you change the accumulation period and/or payout period. You may request your financial advisor representative to generate the policy illustration for a different accumulation period and payout period to understand the changes in the policy benefits.
[6] For regular premium policy, Gro Retire Flex Pro II includes Gro Retire Flex Pro II – Protection Benefit, a non-participating compulsory rider, which provides coverage for Accidental Death Benefit, Disability Care Benefit and Retrenchment Benefit. Please refer to the policy conditions for further details.
[7] If the policyholder is retrenched, the policyholder will not have to pay the premiums for the Gro Retire Flex Pro II – Protection Benefit rider and its basic policy for six months from the next premium due date onwards. The policyholder will have to pay premiums for the month that the policyholder starts permanent paid employment and this benefit will end. Terms apply for the benefit. Please refer to the policy conditions for further details.
[8] At the end of the fifth month when the policyholder has stopped paying premiums, the policyholder can choose to defer the premiums for the Gro Retire Flex Pro II – Protection Benefit rider, its basic policy and optional riders for the next six months.
The following will apply during the deferment period:
- Gro Retire Flex Pro II – Protection Benefit rider, its basic policy and any optional rider will remain in force;
- Anniversary remains unchanged;
- Any cash benefit payable will be paid after deducting the deferred premiums due;
- Bonus will continue to be declared; and
- The policyholder is not allowed to take a policy loan on the basic policy.
At the end of the deferment period, the policyholder will need to pay the deferred six months premium in a single payment. The policyholder can claim the Retrenchment Benefit only once under the Gro Retire Flex Pro II – Protection Benefit rider. Terms apply for the benefit. Please refer to the policy conditions for further details.
[9] If the insured dies as a result of an accident (before the anniversary immediately after the insured reaches the age of 70), we will pay an additional 105% of all premiums paid, on top of the death benefit, as long as the insured was not taking part in a restricted activity at the time of the accident. If the insured was taking part in a restricted activity at the time of the accident, we will only pay an additional 63% of all premiums paid, on top of the death benefit. We will pay this benefit only if the death happens within 365 days of the accident. Gro Retire Flex Pro II – Protection Benefit rider and its basic policy will end when we make this payment. Please refer to the policy conditions for further details and the definition of premiums paid.
If the policyholder has appointed a secondary insured before the insured dies as a result of an accident (before the anniversary immediately after the insured reaches the age of 70), we will not pay this benefit. Upon the accidental death of the insured, the secondary insured becomes the insured and Gro Retire Flex Pro II – Protection Benefit rider and its basic policy will continue.
[10] We will pay the policyholder a lump-sum benefit equivalent to 12 times the monthly cash benefit, if the insured is diagnosed with any one of the conditions - loss of use of one limb, irreversible loss of speech, loss of sight of one eye and deafness (irreversible loss of hearing), arising from accidental injury or sickness during the policy term of the basic policy.
The policyholder will stop making premium payments on Gro Retire Flex Pro II – Protection Benefit rider and its basic policy for the remaining term of the policy. Gro Retire Flex Pro II – Protection Benefit rider and its basic policy will continue to apply (as if premiums have been paid) during this period even though the policyholder is not paying the premiums.
If the insured is covered for any Disability Care Benefit under any policies (including this policy) which have been issued and paid by us, the total of these benefits under all these policies cannot be more than S$1.1 million, including additional monthly cash benefits under all applicable optional riders issued by us, lump-sum benefit and premiums waived, under the Disability Care Benefit for the same insured. Please refer to the policy conditions for further details.
The policyholder cannot change the payout period or exercise the Flexi Retire Option after they claim this benefit.
[11] The secondary insured must be yourself (before the age of 75 years old), your spouse (before the age of 75 years old), or your child or ward (before the age of 18 years old) at the time of appointment. The policyholder can exercise this option to appoint a secondary insured no more than three times. Terms apply for the benefit. Please refer to the policy conditions for further details.
[12] We will also pay any accumulated cash benefits and non-guaranteed cash bonuses. The policy will end when we make this payment. We will not pay any further benefits. Please refer to the policy conditions for further details.
[13] This is applicable only after one year from the cover start date. Cover start date refers to the date we issue the rider or the date we issue an endorsement to include or increase a benefit; or the date we reinstate the rider (whichever is the latest). However, if the insured is diagnosed with any one of the major cancer within one year from the cover start date, we will end this rider and refund 100% of the premiums paid on this rider. You will then have to continue paying premiums for your Gro Retire Flex Pro II policy. The insured must survive at least 30 days after the insured is diagnosed with a covered major cancer before we pay the major cancer benefit. We will not pay this benefit if the insured suffered symptoms of, had investigations for, or was diagnosed with, or received treatment for any cancer, including carcinoma-in-situ, before the cover start date. You can find the usual terms and conditions of this rider, full list of our specified major cancer and their definitions in your policy contract.
[14] We will not pay this benefit if the insured was diagnosed with the disease within 90 days from the date we issue the rider, include or increase any benefit, or reinstate the rider (whichever is latest) for major cancer, heart attack of specified severity, coronary artery by-pass surgery, angioplasty and other invasive treatment for coronary artery or other serious coronary artery disease.
There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy conditions will be issued when your application is accepted.
This is for general information only and does not constitute an offer, recommendation, solicitation or advice to buy or sell any product(s). You can find the usual terms, conditions and exclusions of this plan in the policy conditions. All our products are developed to benefit our customers, but not all may be suitable for your specific needs. If you are unsure if this plan is suitable for you, we strongly encourage you to speak to a qualified insurance advisor. Otherwise, you may end up buying a plan that does not meet your expectations or needs. As a result, you may not be able to afford the premiums or get the insurance protection you want. Buying a life insurance plan is a long-term commitment on your part. If you cancel your plan prematurely, the cash value you receive may be zero or less than the premiums you have paid for the plan.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Income Insurance or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is correct as at 19 January 2026
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