NTUC Income Regular savings plan, DreamSaver, is a short-term savings plan for everybody, regardless of your health status! It is guaranteed acceptance with 101% or 105% protection value with bonus.
Dreamsaver only requires you to save for 5 years. You can start to withdraw your FULL monthly premium back from the 6th years to the maturity term (8 or 10 years), without affecting the Protection Value during the drawdown. Not only it offers better interest rate of 3.06% p.a., it provides protection against death and Total permanent Disability (Lost of sight, two legs etc.).
This is how DreamSaver works.
1) You save a fixed sum of money to NTUC Income for 5 years.
2) From the 61th policy month (6th year), NTUC Income will give you cashback of an amount equal to your monthly premium every month till maturity at the 8th or 10th year. 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) Upon Maturity, you will also receive the terminal bonus declare by NTUC Income.
An example is as shown below:
|Monthly Cashback (From 61st month onwards)||$500|
|Total Premium Paid||$30,000|
|Guaranteed Maturity Amount||$30,250|
|Total Cash upon Maturity (Non-withdrawal)||$37,691|
|Total Cash upon Maturity (with Monthly Withdrawal)||$35,000|
|Protection Value||$6,300 to $67,491|
For further enquiry, askGinny.