Here’s what you get with Gro Steady Saver.
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Receive 5% of the sum assured as guaranteed yearly cash benefits[1] after two years.
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Have the option to spend the cash benefit or accumulate it with Income at an interest rate of up to 3.25% p.a.[2]
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Receive 100% of the sum assured and bonuses in the event of death or total and permanent disability (TPD before age 70).
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Enjoy additional bonuses[3] based on the performance of the Life Participating Fund.
Need more protection?
Enhance your coverage with riders.
Hospital CashAid
Enhance your coverage with Hospital CashAid rider[4] that provides payouts in the event of hospitalisation, to help reduce your out-of-pocket expenses. With the Major Impact Benefit[5], you will also be covered against future unknown diseases[5] or serious infections if you undergo a surgery or suffer from an infection and you need to stay in an Intensive Care Unit (ICU) for 5 days or more at a go.
Choose your rider term with coverage up to a maximum of age 84 (last birthday).
Essential Protect
You will receive the sum assured for this rider in the event of death, total and permanent disability (TPD before age 70), terminal illness or diagnosis of dread disease[6] during the term of the rider.
Payor Premium Waiver
(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, or are totally or permanently disabled (TPD before age 70) during the term of the rider.
Enhanced Payor Premium Waiver
(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 (TPD before age 70), or are diagnosed with dread disease[6] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Dread Disease Premium Waiver
You will not need to make future premium payments for the basic policy if you are diagnosed with dread disease[6] (except for angioplasty and other invasive treatment for coronary artery) during the term of the rider.
Let us walk you through Gro Steady Saver.
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How Gro Steady Saver helps you achieve your potential future
30 years oldMr Lee signs up for Gro Steady Saver with a sum assured of $50,000. He pays a yearly premium of $4,038 for the next 25 years.
32 years oldSCENARIO 1
Mr Lee accumulates his yearly cash benefit1 of $2,500 with Income at an interest rate of up to 3.25% p.a.2
SCENARIO 2
Mr Lee receives a yearly cash benefit1 of $2,500 every year.
55 years oldUpon maturity of his policy, Mr Lee can receive a total illustrated payout of $147,1273 (illustrated yield at maturity: 2.78% p.a.3).
Upon maturity of his policy, Mr Lee can receive a payout of $60,8143 (which consists of the guaranteed maturity benefit of $2,500 and the non-guaranteed bonuses of $58,314). Together with the guaranteed yearly cash benefits he had already received, his total illustrated payout is $118,3143 (illustrated yield at maturity: 2.27% p.a.3).
The above figures are for illustrative purposes only and are rounded to the nearest dollar.
The non-guaranteed figures are based on the assumption that the Life Participating Fund earns a long-term average return of 4.75% p.a.
Should the long-term average return be 3.25% p.a., the total illustrated payout over 25 years would be $102,6874 if Mr Lee chooses to accumulate the guaranteed yearly cash benefit1 as a payout. The corresponding illustrated yield at maturity would be 0.27% p.a.4. If Mr Lee chooses to accumulate all the cash benefits with Income, the total illustrated payout at maturity would be $116,4654 and the corresponding illustrated yield at maturity would be 1.08% p.a.4.1 You will start to receive 5% of your sum assured as your yearly cash benefit starting from the end of the 2nd policy year if you have paid the premiums for at least 2 years. You will continue to receive your cash benefit at subsequent policy years if the insured is still alive and your policy has not been converted to paid-up or ended.
2 Interest rate of 3.25% per annum is not guaranteed. Prevailing interest rate at the point of deposit will be determined by Income.
3 The figures in the illustrations are not guaranteed and is 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 benefits payable will vary according to the future performance of the Life Participating Fund.
© 2019 Income. All rights reserved.
4 The figures in the illustrations are not guaranteed and is 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 benefits payable will vary according to the future performance of the Life Participating Fund. If cash benefits are accumulated with Income, the interest rate will be based on 1.75% per annum and it is not guaranteed. Prevailing interest rate at the point of deposit will be determined by Income.

Your policy toolkit.
Eligibility and payment frequency
Policy | Minimum entry age (last birthday) | Maximum entry age (last birthday) | Premium term | Policy term |
Gro Steady Saver | 0 | 54 | 15 - 25 years | 15 - 25 years, subject to the policy maturing no later than age 69 (last birthday) of the insured. |
Gro Steady Saver | 55 | 60 | 15 years | 15 years |
You can make your payments monthly, quarterly, half-yearly, or yearly.
Policy conditions
Application forms
Your queries answered.
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Footnotes
- You will start to receive 5% of your sum assured as your yearly cash benefit starting from the end of the 2nd policy year if you have paid the premiums for at least 2 years. You will continue to receive your cash benefit at subsequent policy anniversaries if the insured is still alive and your policy has not ended.
- Interest rate of 3.25% per annum is not guaranteed. Prevailing interest rate at the point of deposit will be determined by Income.
- Bonus rates are not guaranteed and will vary according to the future performance of the Life Participating Fund.
- For Hospital CashAid, the premium will be based on the prevailing premium rates as of the insured’s age and sum assured at the anniversary. Anniversary means the last day of every 12 months from the entry date for the basic policy. Please refer to the policy contract for further details.
- An event (including a future unknown disease) leading to a surgery or an infection, and requires a stay in ICU for 5 days or more, which is claimable under the Major Impact Benefit, subject to policy’s terms, conditions and exclusions. The surgery or infection and the stay in the ICU must be directly due to the same cause and confirmed as necessary medical treatment. We will not pay Major Impact Benefit where the insured stays in a hospital for symptoms suffered of, had investigations for, or was diagnosed with illness any time before or within 90 days from the cover start date (except for accidents). We will pay this benefit in addition to both Hospital Cash Benefit and Additional Intensive Care Unit Benefit. We will pay this benefit to you only once per policy year. Please refer to the policy contract for further details.
- Essential Protect, Dread Disease Premium Waiver and Enhanced Payor Premium Waiver
You can find the list of specified dread diseases and their definitions in their respective policy contracts. We will not pay this benefit if the insured is 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 and coronary artery by-pass surgery, angioplasty and other invasive treatment for coronary artery or other serious coronary artery disease. For angioplasty and other invasive treatment for coronary artery, we will pay 10% of the rider sum assured, subject to a maximum amount of $25,000. The benefit for angioplasty and other invasive treatment for coronary artery will end once we make this payment, and the sum assured of the rider will be reduced accordingly after the payment.
For Dread Disease Premium Waiver and Enhanced Payor Premium Waiver, the premium waiver benefits do not apply for angioplasty and other invasive treatment for coronary artery.
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 18 February 2021.
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