Offer an inheritance with Gro Gen Saver.
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Appoint your loved one as your policy’s secondary insured[1] to continue your wealth accumulation.
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Capital guaranteed[2] after the 10th policy year, if you paid in a single premium term.
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Get an illustrated total yield at maturity of up to 4.42% per annum[3] [4]
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Have a choice of paying your premium in one lump sum, or over 5, 10, 15 or 20 years.
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Guaranteed acceptance regardless of your health condition.
Let us walk you through Gro Gen Saver.
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How Gro Gen Saver safeguards your legacy for your loved ones
30 years oldMr Lim, age 30, is planning for a family and wants to start building his legacy. He signs up for Gro Gen Saver with a sum assured of $100,000 and pays a yearly premium of $10,000 for 10 years.
35 years oldMr Lim welcomes his daughter, Sophia, and appoints her as the secondary insured.
55 years oldMr Lim turns 55 years old and Sophia begins to attend university.
- Illustrated total cash value
$221,2391, 2.2 times of premiums Mr Lim paid.
80 years oldAt age 80, Mr Lim passes away and Gro Gen Saver policy continues with Sophia as the insured of the policy.
SCENARIO 1
At the end of the policy term, the illustrated total maturity value is $3,456,6651, 34.6 times of premiums paid.
SCENARIO 2
However, should Sophia pass away at age 80, the policy will pay out the illustrated death benefit of $2,817,2231, 28.2 times of premiums paid, and the policy terminates thereafter.
The above figures are for illustrative purposes only and are rounded to the nearest dollar / 1 decimal point.
The non-guaranteed figures above are based on the assumption that the Life Participating Fund earns a long term average return of 4.75% per annum.
Should the long-term average return be 3.25% per annum, the illustrated total cash value when Sophia is age 20 would be $163,8712. Should Sophia pass away at age 80, the illustrated death benefit would be $878,3222. If Sophia survives to the end of the policy term, the illustrated total maturity value would be $1,004,0502.
1 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 4.75% 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.
2 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 3.25% 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.
© 2019 Income. All rights reserved.How Gro Gen Saver helps you build your wealth
30 years oldMr Tan, age 30, is looking to grow his money. He signs up for Gro Gen Saver with a sum assured of $100,000 and pays a single premium of $100,000.
45 years oldAt age 45, Mr Tan’s illustrated total cash value is $145,8881, 1.5 times of premiums paid.
55 years oldAt age 55, Mr Tan decides to start his own business.
- Illustrated total cash value
$275,6961, 2.8 times of premiums paid.
65 years oldAt age 65, Mr Tan decides to stop working and retires. At his retirement age, the illustrated cash value is $423,1681, 4.2 times of premiums paid.
.85 years oldHowever, should Mr Tan pass away at age 85, his family will receive the illustrated death benefit of $1,025,9301, 10.3 times of premiums paid, and the policy terminates thereafter.
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The above figures are for illustrative purposes only and are rounded to the nearest dollar / 1 decimal point.
The non-guaranteed figures above are based on the assumption that the Life Participating Fund earns a long term average return of 4.75% per annum.
Should the long-term average return be 3.25% per annum, the illustrated total cash value when Mr Tan is age 45 would be $127,6322, the illustrated total cash value when Mr Tan is age 55 would be $192,3002, and the illustrated total cash value when Mr Tan is age 65 would be $255,9012. Should Mr Tan pass away at age 85, the illustrated death benefit would be $465,5052.
1 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 4.75% 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.
2 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 3.25% 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.
© 2019 Income. All rights reserved.
Your policy toolkit.
Eligibility and payment frequency
For single premium 0 to 70 years old For premium term of 5 years 0 to 65 years old For premium term of 10, 15 or 20 years 0 to 60 years old - You can only make your payment in a single premium, or over 5, 10, 15 or 20 years.
Brochures
Policy conditions
Application forms
Footnotes
- Only yourself (policyholder before the age of 65 years old), your spouse (before the age of 65 years old), or your child or ward (before the age of 18 years old) can be the secondary insured at the time of exercising this option. You can exercise this option to appoint a secondary insured no more than three times, and provided the following conditions are met:
• The premium of this policy is not paid with funds from SRS;
• No nomination of beneficiary has been made for this policy; and
• There is no change to the ownership of this policy including assignment, bankruptcy, trust and vesting. - Capital guaranteed is after the 10th policy year only if you purchased a policy of single premium term. For a regular premium term on annual premium mode, the capital guaranteed is after the 13th policy year. Capital guarantee is on the basic plan only, on the condition all premiums are paid with no policy alterations or claims made from policy inception.
- The illustrated total yield at maturity of 4.42% per annum is not guaranteed and is based on:
• Policyholder who signs up for Gro Gen Saver with an original insured of age 0,
• Paying a single premium, and
• Receives a maturity benefit at the end of the policy term, which is to the anniversary immediately after the original insured’s 120th birthday - 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 4.75% 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.
Exclusions
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.
Important Notes
This is for general information only. You can find the usual terms and conditions of this plan in the policy contract. 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 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 of 8 April 2021.
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