The popular Gro Capital Ease is back. The single premium endowment plan provides a guaranteed return of 1.21% p.a. which will offer you a guaranteed maturity benefit of 102.43% at the end of the 2 years. Gro Capita Ease is on a limited tranche basis. This means that once it is fully subscribed, it will not be available. You will have to wait for the next tranche.
With falling interest rates, this can be a good alternative to traditional bank fixed deposits.
What are Endowment Plans?
Endowment plans such as Gro Capital Ease are life insurance saving plans offered by insurance companies.
The aim is to help policyholders save towards specific financial goals. Policy holders can contribute a regular amount for a designated period of time or pay a lump sum upfront at the start of the policy.
Upon maturity of the policy, you will be given a lump sum payout with the guaranteed return. It is best to study the plan carefully as certain endowment plans offers non-guaranteed returns.
In this case, Gro Capital Ease Plan is a single premium, non-participating life insurance savings plan offered by NTUC Income Insurance Cooperative Limited that gives you a guaranteed maturity benefit of 102.43% at the end of the 2 years
The minimum single premium for online purchase starts from $5,000. You may also choose to purchase through a financial advisor representative with a minimum single premium of $20,000.
In my opinion, Endowment Plans are low risk investments as compared to stocks and bonds. I have previously bought the NTUC Gro Capital Ease. Hurry up, do not miss out this opportunity!
Disclaimer: This is not a sponsored post and solely the author’s opinion.