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Announcement
Only immediate annuity is available.
Here's what you get with Gro Annuity Pro.
Receive lifetime annuity payouts during your retirement on a monthly, quarterly, half-yearly or yearly basis.
Enjoy potentially higher payouts with bonuses[1] based on the performance of the Life Participating Fund.
Get coverage for death[2] with a lump sum payout.
Your policy toolkit
Eligibility and payment frequency
- The entry age is from 40 to 85 years old (last birthday).
- You can only make your payment in a single premium.
Policy conditions
Your queries answered.
Gro Annuity Pro is a participating single premium insurance plan that provides lifetime annuity payments and protection in the event of death.
It is ideal for those seeking financial security in their golden years.
This is an immediate annuity plan. Upon commencement of the annuity, the policy pays a regular income over the lifetime of the annuitant.
If the person taking the annuity dies, we will pay the single premium less the total annuity payments, provided the total annuity payments made is less than the single premium.
The policy will end when we make this payment. We will not pay any further benefits.
Yes, you may cash in this policy for its cash value.
We will pay the cash value shown in the Table below, provided the total annuity payments made is less than the single premium.
| When policy is cash in | Cash value |
| One year from cover start date | 85% of the following: Single premium less the total annuity payments and conversion bonus |
| Two years from cover start date | 90% of the following: Single premium less the total annuity payments and conversion bonus |
| Three years from cover start date | 93% of the following: Single premium less the total annuity payments |
| Four years from cover start date | 95% of the following: Single premium less the total annuity payments |
| Five years or later from cover start date | Single premium less the total annuity payments |
Conversion bonus means the additional cash value provided, if applicable, when you exercise the annuity option to buy this policy.
The policy will end after you cash in this policy fully.
Yes, annual bonuses are declared yearly. Once declared, they shall be added to the annuity payouts.
Bonuses are not guaranteed. They are recommended by our Appointed Actuary and approved by our Board of Directors.
Bonus pay-outs to policyholders are primarily influenced by the performance of the Life Participating Fund (Par Fund). The Fund’s performance is predominantly driven by factors such as the investment returns of the Par Fund, its expenses and claims experience. Aligned to industry practice, Income is safeguarding policyholders’ interest by allocating 90% of Par Fund surpluses to them. This means for every $9 distributed to policyholders, only a maximum of $1 is allocated to shareholders.
The minimum entry age of the insured is 40 age last birthday and maximum entry age is 85 age last birthday.
No. Gro Annuity Pro is only available to policyholders who want to exercise the annuity option in their policies (if applicable).
No, backdating is not allowed for this policy.
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.
The loan repayment amount will be deducted from each annuity payout you are receiving. You will therefore have to make other provisions if you are depending on your annuity payouts as your regular income.
You will receive nothing if the full annuity payout is used to repay the loan. This happens when the loan amount exceeds the cash value of your policy after factoring in the interest charged on your loan.
Understand the details
[1] Bonus rates are not guaranteed and will vary according to the future performance of the Life Participating Fund.
[2] If the policyholder taking the annuity dies, we will pay the single premium less the total annuity payments, provided the total annuity payments made is less than the single premium. We will take any policy loan and interest from the benefit amount we will pay. The policy will end when we make this payment. We will not pay any further benefits.
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 contract will be issued when your application is accepted.
This is for general information only. You can find the usual terms and conditions 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 web-sites (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 08 January 2026
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