Vivocash: whole-life endowment plan that gives you cash benefit till you are 100 years old!

Dear All,

NTUC Income has just launched Vivoc­ash, a lim­ited-premi­um but whole-life endow­ment plan that gives you cash bene­fit from end of 5th year till you are 100 years old!

Vivoc­ash, is a reg­u­lar sav­ings plan that provides yearly cash­flow from the end of 5th year till you are 100 years old! Not only it offers bet­ter interest rate, it provides pro­tec­tion against death and Total per­man­ent Dis­ab­il­ity (Lost of sight, two legs etc.) regard­less of your cur­rent health. It is 100% guar­an­tee to be accep­ted with no under­writ­ing required. You will be covered for 105% of the net premi­um paid for the first 5 years and 120% of all net premi­um paid from the sixth year onwards!

Vivoc­ash cov­ers:

  • Death and Total Per­man­ent Dis­ab­il­ity (TPD before age 70) – 105% of net premi­um paid for first 5 years and ter­min­al bonus, 120% of net premi­um paid from 6th year onwards plus any of the accu­mu­lated cash bene­fits and cash bonuses and a ter­min­al bonus.
  • Acci­dent­al Death and TPD (before age 70) – addi­tion­al 100% of the sum assured, in addi­tion to the death/TPD bene­fit.
  • Retrench­ment Bene­fit – 2% of the sum assured is pay­able if poli­cy­hold­er is unem­ployed for at least 3 months and after 6 months policy start date. This bene­fit can be claimed once.

This is how Vivoc­ash works.

  1. You save a fixed sum of money to NTUC Income for 5,10, 15 or 20 years.
  2. At the end of fifth year, NTUC Income will return up to 4.25% of the Sum Assured (called cash bene­fit) to you till you are 100 years old. You can choose toa) 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. On the 20th and 30th policy year, you will receive addi­tion­al 4% of the Sum Assured for your spend­ing.
  5. If insured sur­vives till 100 years old, the policy will pay centen­ni­al matur­ity bene­fits of 120% of all net premi­um paid plus ter­min­al bonus.

For example,

Michael, age 40, is plan­ning for his retire­ment. He signs up for Vivoc­ash, pay­ing yearly premi­um of $9,424 for 10 years with sum assured of $80,000. At age 45, he will receive $3,400 yearly cash bene­fits till 100 years old. He will receive addi­tion­al $3,200 at 60 and 70 years old. He will also receive centen­ni­al matur­ity bene­fit of $139,491 if he sur­vives till 100 years old.

Vivocash illustration

Vivoc­ash illus­tra­tion


Note : The above pro­jec­tion is based on NTUC Income achiev­ing 4.75% invest­ment rate of returns.