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Surprise Bonus fo NTUC Income Policyholders

Monday, 15 February 2010 08:00 Ginny Lim
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NTUC Income Policyholders can expect a surprise extra bonus in 2010 to commemorate its 40th anniversary. Details will be announced in March/April 2010 when the investment results are finalised.

Besides bringing this good news to the policyholders, NTUC Income also posted stellar sales performance in 2009. Income’s weighted life insurance new business premiums grew to $275million last year, up 7 percent from $256 million in 2008. In comparison, the industry contracted by an estimated 14 per cent last year. This result is top compared to Great Eastern Life’s $270 million and Prudential’s $265 million. The weighted premium measure is used by insurers here to benchmark performance and it takes into account just 10% of a single premium and all of a year’s premiums for annual premium plans. 

 

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NTUC Income pay out $415.5m bonus to policyholders , 30 Apr 2010

Insurer NTUC Income are pleased to declare an additional special anniversary bonus to complement your annual bonus. As well as a cash bonus1 for our long-standing policyholders.

Once again, NTUC Income has resolutely published thier yields for one reason – to be transparent.

 Actual Yield: Endowment

Policy Term For males & females, entry age: 25 years old, S$100 monthly premium2
Maturing in 2010 Average Maturity Yield (2006 - 2010)
20 5.47% 5.88%
25 5.95% 6.03%
30 5.90% 5.92%


Actual Yield: Whole Life

Gender Entry age: 30 years old with Sum Assured of S$50,000
At age 55 in 2010 Average Yield (2006 - 2010)
Male 4.72% 4.72%
Female 5.41% 5.41%

1 This cash bonus is paid out on your oldest policy, which must have been in force for at least 10 years as at 31 December 2009. If you are residing overseas, or if the policy has been placed under a trust or is under the care of the Official Assignee, this cash bonus will be credited to your policy to offset future premium payments; or if no premiums are payable, the cash bonus will be paid out when the policy matures, is surrendered or if a claim is made. This cash bonus is not included in the calculations for actual yield.

2 Yields are calculated based on annual premium equivalent to S$100 monthly. Yield calculations are audited by Towers Watson. Actual yields may not be indicative of future policy yields.
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