Endowment

Income Gro Cash Flex Pro: Your Flexible Path to Financial Security

In today's uncertain economic climate, planning for the future has never been more crucial. Did you know that the estimated cost of raising a child in Singapore from birth to university is a staggering $285,468 ? Or that core inflation hit a 13-year high of 3.6% in May 2022 ? These statistics highlight the importance of having a robust financial plan that can adapt to your changing needs. If you're looking for a flexible insurance savings plan that can help you achieve your financial goals while providing protection, Income's Gro Cash Flex Pro might be the solution you've been searching for.

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What is Income Gro Cash Flex Pro?

Gro Cash Flex Pro is a flexible insurance savings plan designed to help you build wealth and secure your financial future . It offers yearly cash payouts from the end of the 2nd policy year, allowing you to fund your goals or accumulate wealth over time. This plan combines the benefits of savings and protection, providing you with financial security as you work towards your dreams.

Key Features That Set Gro Cash Flex Pro Apart

Yearly Cash Payouts

Receive 3% of the sum assured as guaranteed yearly cash benefits . Enjoy non-guaranteed yearly cash bonuses. Option to choose monthly cash benefits.

Capital Guaranteed Upon Maturity

For policies paid yearly, you're guaranteed to get back at least all the premiums you've paid (excluding rider premiums).

Flexible Premium and Policy Terms

Choose from various premium payment terms: 5, 10, 15, 20, 25, or 30 years. Policy terms range from 10 years to coverage till age 120.

Wealth Accumulation Continuity

Appoint a secondary insured to ensure policy continuation in case of the insured's death.

Protection as You Save

Coverage for death and terminal illness.

Guaranteed Acceptance

No medical check-up required.

Real premiums suggested for Income Gro Cash Flex Pro

41, Female making $8,333.333 a month

Coverage:
Premium:
$12,000
Read More

44, Female making $12,500 a month

Coverage:
Premium:
$1,000
Read More
Get your own quotes →

How Does Gro Cash Flex Pro Work?

Yearly Cash Payouts

Starting from the end of the 2nd policy year, you'll receive yearly cash benefits of 3% of the sum assured, plus non-guaranteed yearly cash bonuses . You can withdraw these payouts or accumulate them with Income at an interest rate of up to 3.00% p.a. (non-guaranteed).

Flexible Premium and Policy Terms

Choose the premium payment term (5, 10, 15, 20, 25, or 30 years) and policy term (10, 15, 20, 25, 30 years, or till age 120) that best suits your financial situation.

Protection Benefits

Death Benefit: 105% of all net premiums paid, plus a terminal bonus and any accumulated cash benefits and bonuses . Terminal Illness Benefit: Same as the death benefit, payable upon diagnosis of terminal illness.

Maturity Benefit

At the end of your policy term, you'll receive the cash value of your policy and any accumulated cash benefits and bonuses.

Secondary Insured Option

Appoint a secondary insured (your spouse or child) to ensure the policy continues even if the original insured passes away.

Guaranteed Insurability Option

After 12 months from the policy start date, you can buy another life policy without health reassessment if you experience certain life events.

Optional Riders for Enhanced Coverage

Savings Protector Pro

Waives future premiums if you become totally and permanently disabled (TPD). Provides a lump sum benefit equivalent to two years of annual premiums. Offers retrenchment benefit, waiving premiums for 6 months if you're retrenched.

Cancer Premium Waiver (GIO)

Waives future premiums if you're diagnosed with major cancer during the rider term.

Real-Life Scenarios

Planning for Retirement

Ms. Lee, age 40, signs up for Gro Cash Flex Pro with a sum assured of $37,310 and a Savings Protector Pro rider. She pays $6,000 annually for 10 years, with a 15-year policy term. At age 42, she starts receiving yearly cash payouts of $1,768 (illustrated based on 4.25% p.a. investment return). At age 45, she becomes totally and permanently disabled. Her remaining premiums are waived, and she receives a lump sum of $12,000. If she passes away at age 54, her family would receive $65,743 (illustrated based on 4.25% p.a. investment return).

Wealth Accumulation and Legacy Planning

Mr. Lee, age 55, chooses Gro Cash Flex Pro with a sum assured of $41,667. He pays $25,000 annually for 5 years, with a policy term till age 120. He appoints his son Gary, age 17, as the secondary insured. From age 57, the policy accumulates yearly cash payouts. At age 71, Mr. Lee starts withdrawing $3,500 annually for retirement (illustrated based on 4.25% p.a. investment return). At age 80, Mr. Lee passes away, and the policy continues with Gary as the insured. If Gary survives to age 120, the policy matures with a payout of $274,167 (illustrated based on 4.25% p.a. investment return).

Pros and Cons

Pros

  • Flexible cash payouts and accumulation options

  • Capital guarantee upon maturity (for yearly-paid policies)

  • Wide range of premium and policy terms

  • Secondary insured option for legacy planning

  • Protection benefits included

  • Guaranteed acceptance without medical check-up

Cons

  • Non-guaranteed bonuses depend on fund performance

  • Early termination may result in losses

  • Premium rates are not guaranteed and may be adjusted

Frequently Asked Questions

Can I change my premium term or policy term after purchasing?

It's best to check with Income about options for adjusting your plan after purchase.

What happens if I can't pay my premiums?

The policy may lapse, or you might be able to use the cash value to pay premiums. Consult your financial advisor for options.

Are the cash payouts guaranteed?

The 3% yearly cash benefit is guaranteed, but the yearly cash bonus is not and depends on fund performance.

Can I use this plan for my child?

Yes, you can purchase this plan for your child and even appoint them as a secondary insured.

How does the capital guarantee work?

For yearly-paid policies held to maturity, you're guaranteed to receive at least the total premiums paid (excluding rider premiums) through guaranteed cash benefits and maturity benefit.

Conclusion

Income's Gro Cash Flex Pro offers a versatile approach to saving and protection , allowing you to adapt your financial strategy as your life evolves. With its flexible cash payout options, range of premium and policy terms, and added protection benefits, it can be tailored to meet various financial goals – from retirement planning to legacy creation.

However, as with any financial product, it's essential to carefully consider your personal needs, financial situation, and long-term objectives before making a decision. While Gro Cash Flex Pro offers many attractive features, remember that some benefits are non-guaranteed and depend on fund performance.

Ready to take the next step in securing your financial future? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on savings and protection plans . These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.

By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best plan for your financial journey. Don't leave your future to chance – get the expert advice you deserve today.

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