Orange Health — Get $50 rewards for health screening

NTUC Income is reward­ing you with $50 Cap­it­aMall vouch­ers for exist­ing poli­cy­holder of IncomeShield/Enhanced IncomeShield;  or $50 dis­count off the 1st year premium for new sign-up of Enhanced IncomeShield if you meet the accept­able ranges of read­ings from the fol­low­ing 4 health indicators:-

  • Height and weight exam­in­a­tion to determ­ine your BMI
  • Blood pres­sure reading
  • Lip­ids pro­file (total cho­les­terol, LDL, HDL and triglycerides)
  • Fast­ing blood gluc­ose level test

You just need to book appoint­ment (for 21 years old and above) with NTUC Income part­ners, Unity Phar­macy or Health­way Med­ical at a spe­cial rate of $15 (inclus­ive of GST). Book­ing of appoint­ment at www.income.com.sg/OrangeHealth slots must be made at least 14 days prior to the health screen­ing date.

Accept­able ranges of readings

No Tests Items meas­ured Accept­able ranges
1 Height and Weight (to cal­cu­late BMI) BMI range • 18.5 to 24.9 kg/m2
2 Dia­betes Mel­litus Profile Fast­ing Glucose • 3.9 – 6.0 mmol/L
3 Blood Pres­sure Reading Systolic Dia­stolic • 90 to 140 mmHg • 60 to 90 mmHg
4 Lip­ids Profile Total Cho­les­terol Trigly­cerides HDL-cholesterol LDL-cholesterol Total Cholesterol/HDL Ratio • < 5.2 mmol/L • < 2.26 mmol/L • > 1.03 mmol/L • < 3.36 mmol/L • < 4.51

 

New Short-term savings plan LP Revosave (3-pay-10)

NTUC Income has just launched a new short-term sav­ings plan, LP Revosave (3 pay 10) with the fea­ture of allow­ing you to with­draw cash­back (5% of Sum Assured) from the end of 2nd year onwards.
This plan 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-to-date through­out the term.

This is how LP Revosave (3 Pay 10) works.
1) You save a fixed sum of money to NTUC Income for 3 years.

2) At the end of second year, NTUC Income will return part of the premium back (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.

The policy will mature in 10 years’ time.
Sample : Male age 40 years old with Sum Assured $25,000

Pay­ment Term Monthly Sav­ings Yearly Premium Yearly Cash­back (From 2nd year onwards) Total Premium Paid Total Cash upon matur­ity (Non-withdrawal) Total Cash upon matur­ity (With yearly withdrawal)
3 years $861.50 $9,940 $1,250 $29,820 $39,382 $37,671

($1250 yearly plus $27,671 upon maturity)

Com­par­ison between SP SAIL and LP Revosave (3 Pay 10)
Single Premium Plan SP SAIL with lump sum sav­ings of $29,820, the matur­ity amount is $38,577 after 10 years. So if your inten­tion is to with­draw the matur­ity amount after 10 years, LP Revosave will give bet­ter returns. Moreover, you have the flex­ib­il­ity to with­draw 5% of the Sum Assured from the end of second year. SP SAIL does not have this flexibility.

SG 50 Celebration from NTUC Income

Enhanced Incomeshield New Sign-up

To cel­eb­rate Singapore’s 50th birth­day, you will receive Cap­it­aMall vouch­ers, when you sign up for a new Enhanced IncomeSheild plan dur­ing the pro­mo­tion period from 10 May 2015 to 31 Decem­ber 2015.

For chil­dren (aged 12 years and below)
Enhanced IncomeShield plans Voucher amount
Pre­ferred (SG/PR/FR) $195
Advant­age (SG/PR/FR) $120
Basic (SG) $100
Basic (PR) $110
Basic (FR) $115
For all other new sign-ups
Enhanced IncomeShield Main plans Voucher amount
All plan types $100

SG – Singa­por­ean; PR – Per­man­ent Res­id­ent; FR – For­eigner
Terms and Con­di­tions apply. Click here for more information.

Med­ical Sub­sidy for Chil­dren hold­ing CHAS Blue Card
Chil­dren, aged 12 and below and hold­ing the Com­munity Health Assist Scheme (CHAS) Blue Card, now enjoy a Med­ical Sub­sidy at all Health­way Med­ical Group Clin­ics. NTUC Income OrangeAid reaches out to fam­il­ies on the CHAS Blue scheme to reduce their expenses for GP med­ical treat­ment.
Each child can claim a total amount of $100.00 (exclud­ing GST), on top of the CHAS Blue Card subsidy.

This Sub­sidy is valid for all CHAS Blue child card­hold­ers (born in 2003 and there­after). If your child is ill, to receive the sub­sidy, simply take the fol­low­ing steps:
1. Bring your child and 2 neces­sary doc­u­ments (child’s CHAS Blue card and Birth Cer­ti­fic­ate) to a Health­way Med­ical Group clinic.
2. Fill in the Patient Con­sent Form at the clinic. For your ref­er­ence, a copy of the form is here.
With the com­pleted Patient Con­sent Form, NTUC Income will sub­sid­ise your child’s GP med­ical bills up to $100.00 (exclud­ing GST) in cel­eb­ra­tion of SG50.

View the list of par­ti­cip­at­ing clinics

 

SG50 Reward­ing First Gen­er­a­tion Policy Own­ers
NTUC Income will be reward­ing its poli­cy­hold­ers who own policies which are issued in 1970s and 1980s.  Cus­tom­ers who are eli­gible for this reward will be noti­fied by end June 2015.
For policies issued between 1 Jan 1970 t0 31 Dec 1979, the Cap­it­aMall voucher amount is equi­val­ent to the cal­cu­lated annual premium of the reg­u­lar premium policy, roun­ded up to the nearest $100. The table below shows some examples:

Cal­cu­lated annual premium of the policy Amount of Cap­it­aMall vouch­ers per policy
$100.00 and below $100
$100.01 to $200.00 $200
$500.01 to $600.00 $600
$1,500.01 to $1,600.00 $1,600
$2,000.01 to $2,100.00 $2,100

For policies issued between 1 Jan 1980 to 31 Dec 1989, the voucher amount is fixed at $50, regard­less of the annual premium amount.
Please note that the reg­u­lar premium NTUC Income Life Insur­ance Policies issued in 1989 or earlier must be in force as of 1 Janu­ary 2015.
How­ever, cer­tain policies are excluded for this reward as stated below:

  • Where policy own­ers are deceased;
  • Where policy own­ers are undis­charged bankrupts;
  • Sub­ject to trusts under sec­tion 73 of Con­vey­an­cing and Law of Prop­erty Act;
  • With irre­voc­able nom­in­a­tion under sec­tion 49L of the Insur­ance Act; or
  • Without any valid Singa­pore billing address.

Re-launch of Plus Rider for Enhanced IncomeShield

NTUC Income has just star­ted to offer the PLUS rider for new applic­a­tion and upgrade that is attached to the Enhanced IncomeShield. Stand­ard IncomeShield is still not entitled to pur­chase Plus Rider.
PLUS rider cov­ers the deduct­ible and 100% of the co-insurance of Enhanced IncomeShield.
Assist rider cov­ers the deduct­ible and 90% of the co-insurance of Enhanced IncomeShield. How­ever, the co-insurance pay­ment is sub­ject to a cap of $2000 for Basic Plan, $2500 for Advant­age Plan and $3000 for Pre­ferred Plan only.
For exist­ing Enhanced IncomeShield poli­cy­holder, you can apply to upgrade from Assist Rider to Plus Rider, sub­ject to under­writ­ing.
New applic­ant can now choose to apply for Assist Rider or Plus rider to attach to his/her Enhanced IncomeShield.

Yearly Premium for Assist Rider can be found here

Yearly premium for Plus Rider can be found here 

Inform­a­tion on Enhanced IncomeShield can be found here

Launch of Global Income Fund from NTUC Income

NTUC Income has just launched a new fund, Global Income Fund that intends to dis­trib­ute monthly dividend pay­out of 4–5% per annum.

The Global Income Fund aims to provide income and cap­ital growth over the medium to longer term by invest­ing primar­ily in global equit­ies and global fixed income secur­it­ies dir­ectly or indir­ectly through the use of Invest­ment Funds or fin­an­cial deriv­at­ive instru­ments (includ­ing, but not lim­ited to, futures, options and credit default swaps). The under­ly­ing Fund is act­ively man­aged between asset classes, allow­ing it to achieve the object­ive of achiev­ing yield and max­im­iz­ing total returns dur­ing all phases of the eco­nomic cycle.

The sub-fund aims to provide a sus­tain­able level of income. It invests in a broad range of assets from around the world, and seeks to identify attract­ive sources of income whilst diver­si­fy­ing risk. The sub-fund intends to achieve this object­ive by invest­ing all or sub­stan­tially all of its assets in Sch­roder Inter­na­tional Selec­tion Fund Global Multi-Asset Income which is man­aged by Sch­roder Invest­ment Man­age­ment Limited.

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 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 Cur­rent Pro­mo­tion offers a 10% bonus on the net amount of the new dis­tri­bu­tion declared for Global Income Fund and will be given each month, up to 22 Septem­ber 2015. This bonus is only pay­able once for each dis­tri­bu­tion arising from net new invest­ments and top-ups. It is not applic­able to monthly dis­tri­bu­tion arising from switches into this fund. The declar­a­tion of the dividend rate will be announced on the fourth Tues­day of the month, start­ing from 28 April 2015. NTUC Income will pay or re-invest the dis­tri­bu­tion within 45 days from the declar­a­tion date.

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

For example, if Mr Lee invests in Global Income Fund and gets a monthly dis­tri­bu­tion of $500 per month. The 10% bonus pay­able for each dis­tri­bu­tion is $50 dur­ing this pro­mo­tion period as shown below:

Declar­a­tion Date in 2015 28 April 26 May 23 June 28 July 25 August 22 Septem­ber
Monthly Dis­tri­bu­tion $500 $500 $500 $500 $500 $500
10% Bonus $50 $50 $50 $50 $50 $50

The extra bonus pay­able based on the above example is $300.

Sub­scrip­tion Method: Cash/SRS

Global Income Fund Factsheet is here at http://www.income.com.sg/fund/pdf/2015/globalincome(jan).pdf

Global Income Fund Product High­light Sheet is here at http://www.income.com.sg/fund/phs/2014/globalincome(jun).pdf

New NTUC Income Retirement Plan – FlexRetire

About FlexRe­tire

FlexRe­tire is a reg­u­lar premium par­ti­cip­at­ing endow­ment plan. It allows you to start sav­ings reg­u­larly now for your planned retire­ment age of 55, 60, 65 or 70 Last Birth Date (LBD). Upon retire­ment, you will receive reg­u­lar retire­ment pay­out for the next 10, 20 or 30 years. You will also enjoy free pro­tec­tion of 105% premium paid-to-date plus 100% of the bonuses against death and Total Per­man­ent. Dis­ab­il­ity. FlexRe­tire is guar­an­teed accept­ance, i.e. any­one can pur­chase the plan without the needs for a med­ical check-up.

FlexRe­tire is divided into 2 phases — Accu­mu­la­tion Period and Pay­out Period.

Accu­mu­la­tion Period = Chosen Retire­ment Age (up to age 55/60/65/70 LBD) – Entry Age (LBD)

Pay­out Period = Choice of 10, 20 or 30 years

Dur­ing the Accu­mu­la­tion Period, you can choose to pay the premium in 5 years, 10 years or Accu­mu­la­tion Period minus five years. That is, if the Accu­mu­la­tion Period is 25 years, you only need to pay for 20 years and start get­ting the reg­u­lar pay­out from the 25th year onwards.

At the end of Accu­mu­la­tion Period, you can choose to

  • with­draw the full matur­ity amount;
  • with­draw par­tial matur­ity amount, rede­posit the
    remain­ing cash (at least $10,000) with Income and receive monthly pay­out for the next 10/20/30 years; or
  • save the full matur­ity amount with Income with addi­tional cash value given and receive monthly pay­out for the next 10/20/30 years.

Dur­ing the Pay­out Period when you are receiv­ing the monthly pay­out, you can choose to:

  • use the pay­out as your monthly retire­ment income; or
  • deposit the pay­out with NTUC Income at the cur­rent interest rate of 3.5% p.a.. This is a deposit
    account and you can with­draw the money anytime.

At the end of the Pay­out Period, you will receive

  • the final monthly payout;
  • Future Gift, pro­jec­ted at 24 times of the final monthly pay­out; and
  • the reg­u­lar depos­ited pay­ment accu­mu­lated with NTUC Income and accu­mu­lated interest, if any.

The min­imum entry age is 20 and last entry age is 60 LBD.

 

How FlexRe­tire Lets You Retire the Way You Want?

Sup­pose you are now 35-year-old and desire a monthly retire­ment
income of at least $1,000 for 20 years when you retire at age 65. You can start build­ing your retire­ment funds through FlexRe­tire plan as follows:

Monthly Premium Yearly Premium Total Premium Paid for 10 years Guar­an­teed Matur­ity Amount at 65 years old Bonus upon matur­ity @ 4.75% IRR* Total Matur­ity Amount at 65 years old
$1082.10 $12,485 $124,850 $124,850 $75,796 $200,646

If the full matur­ity amount is re-deposited with NTUC Income at the end of Accu­mu­la­tion Period,

New Prin­cipal Amount Pro­jec­ted Monthly Pay­ment @4.75% IRR* for 20 years Pro­jec­ted Future Gift Total Amount drawn over 20 years, includ­ing Future Gift
$454,704 $2,216 $53,184 $585,024

*IRR : Invest­ment Rate of Returns

An Illustration for FlexRetire Plan

Illus­tra­tion for FlexRe­tire Plan

Deflation again in December 2014

Infla­tion was neg­at­ive 0.2% in Decem­ber 2014, com­pared to Decem­ber 2013. This was due mainly to fluc­tu­ations in cer­ti­fic­ate of enti­tle­ment premi­ums, soft hous­ing rental mar­ket and cheaper oil.
This is the second con­sec­ut­ive month that Singa­pore encoun­ters defla­tion, with the index at –0.3% in Novem­ber 2014.

Core infla­tion, which excludes the cost of accom­mod­a­tion and private road trans­port, how­ever, remained at 1.5% in Decem­ber 2014. Food and pre­pared meals were the largest pos­it­ive con­trib­ut­ing factor to infla­tion in Decem­ber 2014.

The over­all infla­tion in 2014 is 1%, com­pared with 2.4% in 2013, the low­est since 2009. The core infla­tion in 2014 increased to 1.9% from 1.7% in 2013.

Offi­cial fore­casts for head­line infla­tion is between 0.5% to 1.5%, while the core infla­tion is between 2% to 3% in 2015.