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

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.