NTUC Income has just launched a new short-term savings plan, LP Revosave that only requires you to save for 5 years or 10 years.
You will be able to draw down cashback of 5% of the Sum Assured from the end of second year onwards till maturity.
LP Revosave 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 for the first 3 years. From the beginning of 4th year, you will be totally covered with the Sum Assured, that means, full coverage!
This is how LP Revosave works.
1) You save a fixed sum of money to NTUC Income for 5 or 10 years.
2) At the end of second year, NTUC Income will return 5% of 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.