Author Archives: Ginny Lim

New Retirement Plan, RevoRetire, with Disability Care Benefit from NTUC Income

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NTUC Income has just launched a new retire­ment plan, RevoRe­tire, together with first-in-the-market cov­er­age for Dis­ab­il­ity Care Bene­fit that doubles your monthly cash bene­fit pay­out dur­ing your retirement!

RevoRe­tire is a reg­u­lar premium par­ti­cip­at­ing endow­ment plan that allows you to start sav­ings reg­u­larly now for your planned retire­ment in 10/15 years’ time or at age 50, 55, 60 or 65 Last Birth Date (LBD). And you will get the reg­u­lar retire­ment pay­out for the next 10, 20 or 30 years. RevoRe­tire is guar­an­teed accept­ance without the hassle of med­ical check-up. You will also enjoy free death pro­tec­tion of 105% premium paid-to-date plus 100% of the ter­minal bonuses! If it is acci­dental death before age 70, an addi­tional 105% of the premium paid-to-date on top of the death bene­fit will be paid out too. You are eli­gible to apply if you are 65 years old and below.

New bene­fit, Dis­ab­il­ity Care Bene­fit, is intro­duced in this plan. It cov­ers Loss of use of one limb, Loss of sight of one eye, Loss of speech, Loss of hearing.

RevoRe­tire is divided into 2 phases, i.e. Accu­mu­la­tion Period and a Pay­out Period.

  • Accu­mu­la­tion Period = 10 or 15 years or the chosen Retire­ment Age (up to age 50/55/60/65 LBD)
  • Pay­out Period = choice of 10, 20 or 30 years

Dur­ing the Accu­mu­la­tion Period, you can choose to pay for 5 years, 10 years or pay reg­u­larly dur­ing the Accu­mu­la­tion Period minus five years. So if the Accu­mu­la­tion Period is 25 years, you just need to pay for 20 years and start get­ting the reg­u­lar pay­out from the 25th year onwards. If there is a claim on Dis­ab­il­ity Care Bene­fit, this plan will pay a lump sum of six times the monthly cash bene­fit. All future premium will be waived.

Dur­ing Pay­out Period when you are receiv­ing the monthly income (guar­an­teed cash bene­fit plus non-guaranteed cash bonus), you can still choose to

  • Deposit the monthly income with NTUC Income at the cur­rent 3.5% p.a.. This is a deposit account and you can with­draw any­time if you need to.
  • Receive it as your monthly retire­ment income.

If there is a claim on Dis­ab­il­ity Care Bene­fit, this plan will pay an addi­tional one month of the cash bene­fit, on top of the monthly cash bene­fit that is paid out dur­ing the whole pay­out period. The max­imum addi­tional cash bene­fit pay­able for this Dis­ab­il­ity Care Bene­fit is capped at $3,000.

GST Vouchers, Medisave top-ups, U-Save and S&CC rebate in 2017

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1.57 mil­lion eli­gible Singa­por­eans will receive the GST Vouch­ers and Medis­ave Top-up start­ing from July 2017. They can login to www.gstvoucher.gov.sg to view the actual cash and medis­ave amount and also to update the pay­ment mode with their Singpass.

For GST vouch­ers, about 1.37 mil­lion will receive up to $500 cash, up to $300 in August and up to $200 in Novem­ber 2017.

For Medis­ave top-up, about 450,000 Singa­por­eans aged 65 years and above will receive up to $450 in August 2017.

In addi­tion, about 520,000 Singa­por­eans who are born on or before 31 Decem­ber 1959 (58 years and above in 2017) and do not receive Pion­eer Gen­er­a­tion bene­fits will receive a Medis­ave top-up of up to $200 in August 2017 and 2018. Pion­eers, mean­while, will receive addi­tional MediS­ave top-up of $200-$800 in July 2017.

Do note that those in the 21 to 55 age group with mobile num­bers updated with Sing­Pass will only receive SMS noti­fic­a­tions (without hard­copy let­ters). Those aged 56 and above with mobile num­bers updated with Sing­Pass will receive both SMSes and noti­fic­a­tion let­ters. You can opt for SMS noti­fic­a­tions in future, by updat­ing their mobile num­bers with Sing­Pass at www.singpass.gov.sg.

 

House­hold Benefits

U-Save is given every 3 months to help off­set util­it­ies bills dir­ectly. From July 2017, a per­man­ent increase of $40-$120 will be given to about 880,000 eli­gible Singa­por­ean HDB house­holds. These house­holds will also be given one-off 1.5 to 3.5 months of Ser­vice and Con­servancy rebate in 2017, depend­ing on their HDB flat type.

 

Source : http://www.mof.gov.sg/news-reader/articleid/1834/parentid/59/year/2017?category=Press%20Release

NTUC Income “Towards a Better Future” Regular Premium Promotion

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NTUC Income has launched “TOWARDS A BETTER FUTURE” pro­mo­tion from 13 Feb­ru­ary 2017 to 31 March 2017.

Cus­tom­ers who suc­cess­fully sub­mit their new applic­a­tion for Reg­u­lar Premium Life Policies includ­ing any applic­able rider(s) between 13 Feb­ru­ary to 31 March 2017 (inclus­ive of both dates), and their policies issued not later than 31 May 2017, will be entitled to a gift as set out in the rel­ev­ant tiers below.

Min­imum monthly premium Premium pay­ment term of 10 years and above Premium pay­ment term of 5 to 9 years
$1,800 Cap­ita­Voucher

$1500

 Cap­ita­Voucher

$750
$1,200 Cap­ita­Voucher

$750

 Cap­ita­Voucher

$300
$600 Cap­ita­Voucher

$300

 Cap­ita­Voucher

$100
$400 Cap­ita­Voucher

$100

 N.A.

 

The qual­i­fy­ing policies are as follows:

  1. LIMITED PAY REVOSAVE
  2. REVOSAVE
  3. CANCER PROTECT
  4. VIVOCHILD
  5. ENDOWMENT
  6. VIVOCARE 100
  7. FAMILY INSURANCE PLAN
  8. REVOSECURE
  9. VIVOLIFE 125/180/350
  10. MORTGAGE PROTECTION PLAN
  11. PROTECTION
  12. LIMITED PREMIUM PROTECTION
  13. FLEXRETIRE
  14. SENIOR PLAN
  15. DREAMSAVER
  16. SILVER PROTECT
  17. SILVER SECURE
  18. ITERM
  19. VIVOLINK
  20. VIVALINK
  21. VIVOCASH
  22. LADY 360
  23. TERMLIFE SOLITAIRE

 

Terms and Con­di­tions 

  1. Qual­i­fy­ing policies for this Pro­mo­tion are Reg­u­lar Premium Life Policies includ­ing any applic­able rider(s) (the “Qual­i­fy­ing Policies”).
  2. Applic­a­tions for the Qual­i­fy­ing Policies must be sub­mit­ted and received by Income from 13 Feb­ru­ary to 31 March 2017 (inclus­ive of both dates) (the “Pro­mo­tion Period”) and, if the applic­a­tions are approved, the policies must be issued not later than 31 May 2017 for the cus­tomer to be eli­gible for the Promotion.
  3. A cus­tomer who suc­cess­fully signs up for a Qual­i­fy­ing Policy will be entitled to the cor­res­pond­ing Cap­ita­Vouch­ers (“Vouch­ers”) as set out in the table above.
  4. Adding together premium amounts from mul­tiple policies, or divid­ing the premium amount inten­ded for a single policy into premium amounts for mul­tiple policies under the same plan type, to qual­ify for the Vouch­ers is not allowed.
  5. Cus­tom­ers are entitled to receive the Vouch­ers only once, upon the issu­ance of the rel­ev­ant policies. Sub­sequent increase in sum assured or premi­ums, top-ups or applic­a­tions for riders, even if made dur­ing the Pro­mo­tion Period, for such policies will not entitle the cus­tom­ers to any addi­tional Vouch­ers. For avoid­ance of doubt, cus­tom­ers with any Reg­u­lar Premium Life Policies includ­ing any rider(s) issued, whether before or dur­ing the Pro­mo­tion Period and whether with any Vouch­ers enti­tle­ment, who sub­sequently increase their sum assured or premium, top-ups or apply for riders dur­ing the Pro­mo­tion Period will not be entitled to any Vouch­ers under this Promotion.
  6. At least 1 month’s premium for the Qual­i­fy­ing Policies must be paid upfront and received by Income dur­ing the Pro­mo­tion Period for a cus­tomer to be eli­gible for this Promotion.
  7. Income reserves the right to demand from the cus­tomer the full value of the Vouch­ers for Qual­i­fy­ing Policies which are issued but ter­min­ated or lapsed within 6 months from the policy issue date by the cus­tomer, and the cus­tomer shall imme­di­ately pay Income such amount deman­ded. The full value refers to the stated worth price or the face value of the Vouchers.
  8. Income will issue a redemp­tion let­ter for the Vouch­ers to eli­gible cus­tom­ers 1 month after the policy issue date, provided that the policy is inforce as of that date. The redemp­tion let­ter will be mailed to cus­tom­ers at their address registered with Income. The cus­tomer must bring along the redemp­tion let­ter for the Redemp­tion of the Vouch­ers and the Vouch­ers must be col­lec­ted within the redemp­tion period spe­cified in the redemp­tion let­ter. Fail­ing which, the cus­tomer shall be deemed to have for­feited his/her right to the Voucher and no com­pens­a­tion will be given or paid in lieu.
  9. The Vouch­ers are not exchange­able for cash or any benefits-in-kind.
  10. Income reserves the right to replace the Vouch­ers with items of sim­ilar value or change the terms and con­di­tions for this Pro­mo­tion at any time without prior notice to the customer.
  11. This Pro­mo­tion does not affect or change any term of the policy con­tract for the Qual­i­fy­ing Policies and is not valid in con­junc­tion with other incent­ives and pro­mo­tions offered by Income.
  12. Income’s decision on all mat­ters relat­ing to this Pro­mo­tion (includ­ing the issu­ance of the vouch­ers) shall be final, con­clus­ive and bind­ing. No appeal will be entertained.
  13. Under no cir­cum­stance shall Income be liable to any cus­tomer or party, whether in con­tract or tort (includ­ing neg­li­gence) or oth­er­wise, for any liab­il­it­ies, losses and dam­ages, claims, costs and expenses (includ­ing any spe­cial or con­sequen­tial dam­ages or losses) in con­nec­tion with, related to or res­ult­ing from this Pro­mo­tion and/or use of the Vouchers.
  14. Usage of the Vouch­ers is sub­ject to terms and con­di­tions imposed by the merchant.
  15. Income is not the man­u­fac­turer or mer­chant of the Vouch­ers or any Replace­ment Item, and provides no war­ranty in respect of it. Income shall not be respons­ible for all war­ranties, expressed or implied, includ­ing implied war­ranties of mer­chant­ab­il­ity, and fit­ness for a par­tic­u­lar pur­pose and against infringe­ment of intel­lec­tual prop­erty rights in respect of the Vouch­ers or any Replace­ment Item.
  16. No joint ven­ture, spon­sor­ship, tie up, agency or any other rela­tion­ship is inten­ded or cre­ated between Income and mer­chants or man­u­fac­tur­ers of the Vouch­ers or replace­ment items. Neither is this Pro­mo­tion inten­ded or deemed to be a con­nec­tion with or use of the brand name of mer­chants or replace­ment item(s).

The pre­cise terms, con­di­tions and exclu­sions of these plans are spe­cified in their respect­ive 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 adviser. 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 can be sub­stan­tially less than the premi­ums you have paid for the plan.

Inform­a­tion is cor­rect as of 13 Feb­ru­ary 2017

New savings and protection plans from NTUC Income

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NTUC Income has just launched two new insur­ance plans, Term­Life Solit­aire and Lim­ited Premium Revosave with bet­ter cov­er­age and lower premium, for insured up to 75 years old.

Term Insur­ance

Term­Life Solit­aire is a reg­u­lar premium term insur­ance that will cover the insured (age 74 last birth date or below) against Death and Ter­minal Ill­ness for at least $1 mil­lion, up to a max­imum age of 100 years old. The pro­tec­tion value is con­stant through­out the years of cov­er­age as it is not entitled to any bonus declared by NTUC Income. There is no cash value at any point in time since this is a pure pro­tec­tion plan. For sum assured of $1,500,000 and below, there is no med­ical exam­in­a­tion required!

There are 5 riders that can be added to this plan:-

  1. Dis­ab­il­ity Accel­er­ator – cov­ers Total and Per­man­ent Dis­ab­il­ity (TPD) before age 70 with min­imum sum assured of $1,000,000.
  2. Dread Dis­ease Accel­er­ator – cov­ers the 39 dread dis­eases with min­imum sum assured of $500,000.
  3. Dread Dis­ease Premium Waiver – waive future premium when poli­cy­holder is dia­gnosed with dread disease.
  4. Payor Premium Waiver – waive future premium when poli­cy­holder dies or is dia­gnosed with TPD.
  5. Enhanced Payor Premium Waiver — waive future premium when poli­cy­holder dies or is dia­gnosed with TPD or crit­ical illness.

 

Lim­ited Pay Revosave

Lim­ited Pay Revosave is a reg­u­lar sav­ings plan that provides a very good altern­at­ive to sav­ings in a bank. Not only it offers bet­ter interest rate, it provides pro­tec­tion against death, Total per­man­ent Dis­ab­il­ity (Lost of sight, two legs etc.) regard­less of your cur­rent health. It is 100% guar­an­tee to be accep­ted. You will be covered for 105% of the premium paid through­out the cov­er­age! If it is acci­dental death or TPD before age 70, an addi­tional 100% of the sum assured on top of the death/TPD bene­fit will be paid out too. You are eli­gible to apply if you are 75 years old and below.

This is how Lim­ited Pay Revosave works.

1) You save a fixed sum of money to NTUC Income for 3,5,10 or 15 years.

2) At the end of second year, NTUC Income will return part of the premium back (5% of the sum assured called cash­back) to you. You can choose to a) Spend it. b) Save with us at cur­rent 3.5% per annum interest in deposit account issued by Income

3) At any point in time, you can with­draw the money from the Deposit account.

4) The policy will end at the chosen policy term of 10, 15,20 or 25 years. All matur­ity pro­ceeds will be paid out, together with the cash­back and interest earned in the deposit account.

New insurance plans for ladies and pregnant women

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NTUC Income has just launched another 2 plans spe­cially designed for the women.

Lady 360 provides cov­er­age for spe­cific female ill­nesses, and sur­ger­ies as well as post dia­gnosis sup­port and bien­nial health screening.

Mater­nity 360 is spe­cific­ally designed to provide cov­er­age for an expect­ant mother between 13 weeks to 35 weeks of preg­nancy who suf­fers from preg­nancy com­plic­a­tions, is hos­pit­al­ized due to child­birth com­plic­a­tions or dies.  Her child is covered if dia­gnosed with con­gen­ital ill­nesses, admit­ted to an intens­ive care unit or high depend­ency unit of a hos­pital or dies.

Lady 360

Lady 360 is a non-participating, reg­u­lar premium plan spe­cific­ally designed to meet the pro­tec­tion needs of women who are from 15 to 59 years old. It provides cov­er­age for death, spe­cific female ill­nesses, and sur­ger­ies as well as post dia­gnosis sup­port and bien­nial health screen­ing for the insured up to age 64 years old. The min­imum sum assured is $25,000 and the max­imum is $100,000, and it can be increased in mul­tiples of $1,000.

The bene­fits include:-

  • Female Ill­nesses Benefit

100% Sum Assured – Chronic autoim­mune hep­at­itis; Malig­nant can­cer of female sites; Rheum­at­oid arth­ritis; SLE with lupus nephritis.

50% Sum Assured – Car­cinoma in situ of female sites; Osteo­porotic frac­tures of the hip and ver­tebra requir­ing sur­gery or repair.

  • Waiver of premium Bene­fit – Upon suc­cess­ful claim of Female Ill­nesses Bene­fit, premium will be waived for 24 months or till end of policy term, whichever is earlier.
  • Female Sur­ger­ies Benefits

50% of Sum Assured – Rad­ical vul­vec­tomy; Wertheim’s oper­a­tion; Uterus, total pel­vic exenteration

30% of Sum Assured – Breast lumpec­tomy – bilat­eral; Mastec­tomy – bilat­eral or uni­lat­eral; Hys­ter­ec­tomy; Com­plic­ated repair of fistula

15% of Sum Assured – Breast lumpec­tomy – uni­lat­eral; Urin­ary incon­tin­ence requir­ing sur­gery; Uter­ine pro­lapse requir­ing sur­gery; Thyroid dis­orders requir­ing sur­gery; Poly­cystic ovarian syn­drome requir­ing surgery.

  • Sup­port Bene­fit –

100% Sum Assured –Recon­struct­ive sur­gery due to mastec­tomy fal­low­ing breast can­cer or car­cinoma in situ of the breast, malig­nant skin can­cer, acci­dental burns and accident.

25% Sum Assured – Oocyte cryo­p­reser­va­tion benefit

15% of Sum Assured – Molecu­lar gene expres­sion pro­fil­ing test for treat­ment guid­ance for breast cancer

5% Sum Assured – Out­pa­tient psy­chi­at­ric and hor­mone replace­ment therapy.

  • Care Bene­fit – Bien­nial Health Screen­ing and Lady 360 treats
  • Death Bene­fit - $10,000

Mater­nity 360

Mater­nity 360 is a 3-year non-participating, single premium plan spe­cific­ally designed to provide cov­er­age for an expect­ant mother and her child. The mother has to be from 17 to 44 years old and between the 13 weeks to 35 weeks of preg­nancy. Mater­nity 360 provides cov­er­age for the insured mother if she suf­fers from preg­nancy com­plic­a­tions, is hos­pit­al­ised due to child­birth com­plic­a­tions or dies. It also provides cov­er­age for the insured child if the insured child is dia­gnosed with con­gen­ital ill­nesses, admit­ted to an intens­ive care unit or high depend­ency unit of a hos­pital or dies. The Sum Assured (S.A.) is between $5,000 and $10,000 and can increase in mul­tiple of $1,000.

Mother’s Bene­fit Table

Preg­nancy Com­plic­a­tion Bene­fits – Abrup­tio pla­centae; Acute fatty liver of preg­nancy; Amni­otic fluid embol­ism; Chori­ocar­cinoma and malig­nant hydatidi­form mole; Dis­sem­in­ated intravas­cu­lar coagu­la­tion; Ectopic preg­nancy; Pla­centa increta or per­creta; Post­partum haem­or­rhage requir­ing hys­ter­ec­tomy; Pre-eclampsia or eclamp­sia Still birth.

Hos­pital Cash Bene­fit - Inpa­tient psy­chi­at­ric treat­ment; Post-natal anaemia; Puer­peral pyr­exia; Pul­mon­ary embol­ism; Repair of 4th degree per­neal tear; Sep­tic pel­vic throm­bophle­bitis; Sur­gical site infec­tion or trans­fu­sion due to retained pla­centa fol­low­ing child­birth. 1% of Sum Assured per each day of hos­pital stay, up to 30% of S.A..

Death Bene­fit – 100% of Sum Assured will be payable.

 

Child’s Bene­fit Table

Con­gen­ital Ill­nesses Bene­fits – Absence of two limbs; Anal atresia; Atrial septal defect; Bil­i­ary atresia; Cereb­ral palsy; Cleft lip and cleft pal­ate; Club foot; Con­gen­ital blind­ness; Con­gen­ital catar­act; Con­gen­ital deaf­ness; Con­gen­ital dia­phrag­matic her­nia; Con­gen­ital hyper­trophic pyloric sten­osis; Devel­op­ment dys­plasia of the hip; Down’s syn­drome; Infant­ile hydro­ceph­alus; Pat­ent duc­tus arteriosus; Ret­ino­pathy of pre­ma­tur­ity; Spina bifida; Tet­ra­logy of fal­lot; Trancheo-esophageal fis­tula or eso­pha­geal atresia; Trans­pos­i­tion of the great ves­sels; Trun­cus arteriosus; Ventricu­lar septal defect.

Hos­pital Cash Bene­fit – Bron­chitis; Dengue haem­or­rhagic fever; Hand, foot and mouth dis­ease; Incub­a­tion imme­di­ately after birth for more than 3 con­sec­ut­ive days; Pho­to­ther­apy or bold trans­fu­sion for severe neonatal jaun­dice; Pneu­mo­nia; Pre­ma­ture Birth. 1% of S.A. for each day of hos­pital stay, up to 30% of S.A..

Out­pa­tient Pho­to­ther­apy Bene­fit – Pho­to­ther­apy treat­ment due to severe neonatal jaun­dice. 1% of S.A. for each day of hos­pital stay, up to 30% of S.A..

Sim­pli­fied Applic­a­tion Bene­fit – Child can buy a new policy based on sim­pli­fied health declar­a­tion within 60 days after birth. Max­imum S.A. is $150,000 and cur­rent eli­gible plans are Vivo­life, Viv­alink, Revosave, VivoChild.

Death Bene­fit – 100% of Sum Assured will be payable.

New Senior Disease Insurance Plan, Silver Secure, from NTUC Income

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NTUC Income has just timely launched a new insur­ance plan, Sil­ver Secure, to provide monthly pay­out till 100 years old when insured is dia­gnosed with any of the 8 defined senior dis­eases that are likely to plague the Singa­pore aging pop­u­la­tion in 2030 when we will have 1 in 4 Singa­por­eans aged 65 and above.

Sil­ver Secure is a non-participating, reg­u­lar premium plan that provides monthly pay­out till 100 years old for insured who are 40 to 74 years old and dia­gnosed with senior dis­eases. The bene­fits include:-

  • Senior Dis­ease Bene­fit – Inter­me­di­ate stage Alzheimer’s dis­ease or demen­tia; Inter­me­di­ate stage Parkinson’s dis­ease; Severe chronic obstruct­ive pul­mon­ary dis­ease (COPD); Amyotrophic lat­eral scler­osis; Blind­ness (loss of sight); Kid­ney fail­ure; Major head trauma; Para­lysis (loss of use of limbs).
  • Sup­port Bene­fit – Upon suc­cess­ful claim of Senior Dis­ease Bene­fit, a lump sum amount equal to six time of the monthly bene­fit will be pay­able. This bene­fit can be claimed once only.
  • Premium Waiver Bene­fit — Upon suc­cess­ful claim of Senior Dis­ease Bene­fit, premium will be waived until the policy ends.
  • Spe­cial Bene­fit – Upon dia­gnosis of the insured with any of the con­di­tions covered under the Spe­cial Bene­fit dur­ing the term of the policy, a lump sum equal to 3 times the monthly bene­fits will be pay­able (cap at $6,000). This bene­fit can be claimed once only.
  • Care Bene­fit – Sil­ver Secure provides insured with care bene­fits through a list of pre­ferred health­care pro­viders such as 10% off Home Care ser­vices from NTUC Health, 12% off Long Term Home Care Pack­ages from Tet­suyu Homecare.
  • Death Bene­fit – 100% of total premium will be refun­ded if death occurs within one year, oth­er­wise, $10,000 will be payable.

Con­di­tions covered under the Spe­cial Bene­fit are:

Move­ment – Osteoarth­ritis requir­ing sur­gery; Osteo­porosis with frac­tures requir­ing sur­gery; Rheum­at­oid arth­ritis with joint deformity.

Sens­ory — Age-related mac­u­lar degen­er­a­tion with visual impair­ment; Glauc­oma requir­ing sur­gery; Severe pres­by­cusis (age-related hear­ing loss)

Urin­ary dis­orders – Benign pro­static hyper­plasia requir­ing sur­gery; Stress urin­ary incon­tin­ence requir­ing sur­gery or procedure

Other dis­orders – Varicose veins requir­ing sur­gery; Severe obstruct­ive requir­ing sur­gery; Out­pa­tient psy­chi­at­ric con­di­tion due to loss of spouse or child.

The min­imum monthly bene­fit is $500, up to $10,000 per life, in mul­tiples of $100.

NTUC Income New Asian Bond Fund with monthly payout features

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NTUC Income has launched a new fund, Asian Bond Fund that intends to dis­trib­ute monthly dividend pay­out of 4.5%-5.5% per annum.

The Asian Bond Fund aims to provide a medium to long-term rate of return by invest­ing mainly in Asian Fixed Income Secur­it­ies. The sub-fund is inves­ted in the Black­Rock Global Funds– Asian Tiger Bond Fund A6 SGD Hedged Share Class (the under­ly­ing fund).

The under­ly­ing fund will invest at least 70% of its total assets in the fixed income trans­fer­able secur­it­ies of issuers dom­i­ciled in, or exer­cising the pre­dom­in­ant part of their eco­nomic activ­ity in, Asian Tiger coun­tries (i.e. South Korea, the People’s Repub­lic of China, Taiwan, Hong Kong, the Phil­ip­pines, Thai­l­and, Malay­sia, Singa­pore, Viet­nam, Cam­bodia, Laos, Myan­mar, Indone­sia, Macau, India and Pakistan). The under­ly­ing fund may also invest in the full spec­trum of avail­able secur­it­ies, includ­ing non-investment grade. It may use fin­an­cial deriv­at­ive instru­ments for effi­cient port­fo­lio man­age­ment or to hedge mar­ket, interest rate and cur­rency risk.

The sub-fund offers a monthly pay­out fea­ture and intends to provide a monthly dis­tri­bu­tion with effect from 27 May 2016. The Man­ager intends to pay the dis­tri­bu­tion within 45 days from the declar­a­tion date. The declar­a­tion date is set on the 3rd last busi­ness day of every month. The declar­a­tion date is sub­ject to review and the Man­ager has the sole dis­cre­tion to determ­ine the rate and fre­quency of the dis­tri­bu­tion. Dis­tri­bu­tions are not guar­an­teed and can be made out of income, cap­ital gains, and/or cap­ital of the sub-fund.

More import­antly, NTUC Income will guar­an­tee 105% of the invest­ment amount or cash value, whichever is higher, in the event of untimely death or Total Per­man­ent Dis­ab­il­ity (TPD before age 70) before age 65. After age 65, it is 100% of the invest­ment amount or cash value, whichever is higher, in the event of untimely death. This is on top of the monthly with­drawal of the dividends over the years.

The min­imum single premium to invest is $10,000.

Fund Man­ager: NTUC Income

Sub-Investment Man­ager: Black­Rock (Lux­em­bourg) S.A.

Ini­tial Sales Charge: 3% (For single premium and top-up)

Annual Man­age­ment Fee: 1% p.a.

Annual Policy Fee from 2nd year onwards: $50, waive if invest­ment amount is $25,000 and above.

For example, below is the hypo­thet­ical illus­tra­tion of how the dividend will be calculated.

Invest­ment $100,000
Offer Price $1
Num­ber of units $100,000/$1 = 100,000
Dividend Rate $0.004053 per unit
Dividend pay­able 100,000*0.004053 = $405.30

Sub­scrip­tion Method: Cash/SRS

Asian Bond Fund Factsheet is here at http://www.income.com.sg/fund/pdf/2016/asianbond(may).pdf

Asian Bond Fund Product High­light Sheet is here at http://www.income.com.sg/fund/phs/2016/asianbond(dec).pdf

1.54m Singaporeans to get GST Vouchers and other Budget Benefits

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About 1.54 mil­lion Singa­por­eans will receive let­ters from Min­istry of Fin­ance inform­ing them of their eli­gib­il­ity for GST vouch­ers and other budget bene­fits by 1 July 2016.

For indi­vidual Singa­por­ean aged 21 and above whose assess­able income for Year of Assess­ment 2015 is less than $26,000 and who does not own more than one prop­erty, you will get $500 on 1 August 2016 if the annual value if home is $13,000 and below; or $250 if the annual value of home is from $13,001 to $21,000.

For Pion­eer Singa­por­ean, they will also get up to $800 top-up per year to their medis­ave based on the cri­teria below.

Pion­eer Gen­er­a­tion Medis­ave Top-up
Born in Age in 2016 Amount of Medis­ave top-up per year
1945 — 1949 67 — 71 $200
1940 — 1944 72 — 76 $400
1935 – 1939 77 — 81 $600
1934 or earlier >= 82 $800

 

For Non-Pioneers, they will also get up to $200 top-up per year to their medis­ave till 2018 based on the cri­teria below.

5-Year Medis­ave Top-up (2014 – 2018)
Annual Value of Home as at 21 Dec 2015 Up to $13,000 Above $13,000 or owns more than property
Singa­pore Cit­izens born in 1959 and earlier who are not Pioneers $200/year $100/year
One-off addi­tional medis­ave top-up for those age 65 and above in 2016 and who does not own more than one property. For those age 65 to 74, to get addi­tional $250.

 

For those age 75 to 84, to get addi­tional $350.

 

For those age 85 and above, to get addi­tional $450.

 

 For those age 65 to 74, to get addi­tional $150.

 

For those age 75 to 84, to get addi­tional $250.

 

For those age 85 and above, to get addi­tional $350.

 

 

For house­holds stay­ing in HDB flats, gov­ern­ment will give up to $260 deduc­tion in util­it­ies bills in equal instal­ments over 4 months in July 2016, Octo­ber 2016, Janu­ary 2017 and April 2017. Each house­hold will also get up to 3 months of S&CC rebate.

 

House­hold bene­fits for 2016
Flat Type 1 And 2-Room 3-Room 4-Room 5-Room Executive/Mulit-Generation
GSTV – U-Save $260 $240 $220 $200 $180
S&CC rebate (months) 3 2 2 1.5 1

Ref­er­ence : https://www.gstvoucher.gov.sg

New Personal Accident insurance for riding bicycle and personal mobility device

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NTUC Income has just launched a new insur­ance plan, Per­sonal Mobil­ity Guard, to cover acci­dental death or per­man­ent dis­ab­il­ity, med­ical expenses and per­sonal liab­il­it­ies due to acci­dents while rid­ing a bicycle or a per­sonal mobil­ity device.

The table of bene­fits are as follows:

Bene­fit Sum Insured
Per­sonal acci­dent (per policy year) $200,000
Med­ical Expenses for injury due to an acci­dent (Per accident) $2,500 (Excess : $100 per accident)
Per­sonal Liab­il­ity (per policy year) $1,000,000

The yearly premium is $96, inclus­ive of GST. You will enjoy 30% off if you sign up before 30 June 2016.

Source : http://www.income.com.sg/insurance/home-lifestyle-insurance/personal-mobility-guard