Gro Capital Ease

Footnotes

^Policy and Campaign Terms & Conditions apply. 

*The guaranteed maturity benefit of 112.49% (rounded to the nearest 2 decimal places) of the single premium is based on the guaranteed yield at maturity of 4.00% p.a.

^#The guaranteed yield at maturity of 4.00% p.a. will be paid out at the end of the 3-year policy term, provided that the insured survives at the end of the policy term, with no policy alterations or claims made during the entire policy term.

Exclusions

There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy conditions for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.

Important Notes

Gro Capital Ease Campaign Terms and Conditions

1. Income Insurance Limited (“Income Insurance”) is offering Gro Capital Ease (CPN38) plan (“Campaign”), a 3-year non-participating, single premium endowment insurance plan with a guaranteed return of 4.00% p.a. for purchase subject to these Terms and Conditions:
1.1. Gro Capital Ease is available for purchase by eligible customers on a limited tranche and first come, first served basis from 21 March 2024 (inclusive) until either 20 May 2024 (inclusive) or when the tranche limit is met, whichever is earlier (“Campaign Period”).
1.2. The customer must purchase any of the Qualifying Policies set out in clause 2 during the application period set out in clause 3.
1.3.The customer must meet the Qualifying Policy minimum annual premium set out in clause 3.
1.4. For every one (1) Qualifying Policy that is purchased, the customer will be eligible to purchase one (1) Gro Capital Ease.
1.5. The minimum single premium for one (1) Gro Capital Ease plan is $20,000, and the maximum single premium limit is $100,000 per policy. If more than one (1) Gro Capital Ease policy is purchased, the combined Gro Capital Ease policies per insured will not be able to exceed the aggregate single premium limit of $500,000.
1.6. Applications for the Qualifying Policies must be submitted before or at the same time as the submission of the Gro Capital Ease policy.
1.7. Applications for the Qualifying Policies and Gro Capital Ease must be submitted by the same customer/policyholder.
1.8. Adding together premium amounts from multiple Qualifying Policies to meet the minimum annual premium set out in clause 3 is not allowed.

2. A customer is eligible to purchase the Gro Capital Ease with the purchase of any of the following Regular Premium Insurance policies, including any applicable rider(s):

Protection Insurance Policies:
2.1. Star Secure Pro
2.2. Complete Critical Protect
2.3. Complete Cancer Care
2.4. Star Term Protect
2.5. TermLife Solitaire
2.6. Lady 360
2.7. Mortgage Term

Investment-Linked Plan Insurance Policies:
2.7. Invest Flex
2.8. AstraLink

Savings Insurance Policies:
2.9. Gro Cash Sure
2.10. Gro Cash Flex Pro
2.11. Gro Retire Flex Pro
2.12. Gro Saver Flex Pro
2.13. Gro Power Saver Pro

(collectively the “Qualifying Policies”, and each a “Qualifying Policy”).

3. For a customer to be eligible to purchase Gro Capital Ease, applications for the Qualifying Policies must be submitted to Income Insurance from 8 March 2024 onwards and not later than either 20 May 2024 or when the tranche limit is met, whichever is earlier. Applications for the Qualifying Policies must be submitted by the same customer/policyholder before or at the same time as the Gro Capital Ease policy.

A customer who successfully signed up for one (1) Qualifying Policy and meets the minimum annual premium set out in the table below will be entitled to purchase one (1) Gro Capital Ease policy. The minimum single premium for a Gro Capital Ease plan is $20,000, and the maximum single premium limit is $100,000 per policy. If more than one (1) Gro Capital Ease policy is purchased, the combined Gro Capital Ease policies per insured will not be able to exceed the aggregate single premium limit of $500,000.

4. All payments are to be made via PayNow QR, Cheque, Internet Banking (DBS/POSB, OCBC or UOB), SRS Funds or eGIRO.

5. Any successful issuance of the Gro Capital Ease plan is subject to a limited tranche size being offered for subscription of the plan. If there is an oversubscription that exceeds the limited tranche size, Income Insurance has the right not to accept any application for the plan, and to refund any premium paid, without interest. All refunds will be made through cheque to the policyholder.

6. Income Insurance reserves the right to terminate the Gro Capital Ease plan and refund the full premium paid, without interest, if any Qualifying Policy is submitted but withdrawn or issued but terminated or, lapsed for any reason within 6 months from 20 May 2024. All refunds will be made through cheque to the policyholder.

7. If the Qualifying Policy and the Gro Capital Ease policy is terminated or lapsed, the customer is allowed to reinstate the Qualifying Policy and Gro Capital Ease policy. Any outstanding premiums and interest (if applicable) are payable to reinstate the policies.

8. A customer can enjoy this Campaign in conjunction with any of the following promotion offered by Income Insurance:
8.1. Protection made yours Cashback Consumer Promotion
8.2. $avings made yours Cashback Consumer Promotion
8.3. Investment made yours Additional Bonus Units Consumer Promotion

9. The Campaign does not affect or change any term, condition, and exclusion of the policy contract of the Qualifying Policies and Gro Capital Ease policy that are issued. The precise terms, conditions and exclusions of the Qualifying Policies and Gro Capital Ease policy are specified in their respective policy contracts.

10. Under no circumstances shall Income Insurance be liable to any customer or party, whether in contract, tort (including negligence) or otherwise, for any liabilities, losses, damages, claims, costs and expenses (including any special or consequential damages or losses) in connection with, related to or resulting from the Campaign.

11. Income Insurance reserves the right to vary/amend the terms and conditions of this Campaign at any time without prior notice to customers.

12. Income Insurance’s decision on all matters relating to this Campaign shall be final, conclusive and binding. No appeals will be entertained.

All of Income Insurance’s products are developed to benefit our customers but not all our products may be suitable for your specific needs. If you are unsure if a product is suitable for you, we strongly encourage you to speak to a qualified Income insurance advisor. Otherwise, you may end up purchasing a product 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 seek. Purchasing a life insurance plan is a long-term commitment on your part. If you cancel your plan prematurely, the cash value you receive (if applicable) may be zero or less than the premiums you have paid for the plan.

The precise terms, conditions and exclusions of the Gro Capital Ease plan are specified in the policy conditions here, for the Qualifying Policies they can be found in their respective policy conditions.  

The Promotion is not to be construed as an offer, recommendation, advice or solicitation for the subscription, purchase or sale of any investment-linked plan (“ILP”) sub-fund. The Promotion does not constitute financial advice and does not have regard to the specific investment objectives, financial situation and particular needs of any persons. 

Investments are subject to investment risks including the possible loss of the principal amount invested. Before committing to the minimum investment period of any policy/plan/product, a potential investor may wish to consider the length of their investment expectations or needs, and their ability to continue the payment of premiums should their financial situation changed. Past performance, as well as the prediction, projection or forecast on the economy, securities markets or the economic trends of the markets are not necessarily indicative of future or likely performance of any ILP sub-fund. The performance of any ILP sub-fund is not guaranteed and the value of the units in the ILP sub-fund and the income accruing to the units, if any, may fall or rise. A product summary and product highlights sheet(s) relating to all ILP sub-funds are available and can be obtained from your insurance advisor or online at income.com.sg/funds. A potential investor should read the product summary and product highlights sheet(s) before deciding whether to subscribe for units in the ILP sub-fund. 

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 (gia.org.sg or lia.org.sg or sdic.org.sg).

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information is correct as at 19 April 2024.