Frequently Asked Questions

Gro Saver Flex Pro

Product Coverage

  • Q:What is Gro Saver Flex Pro?

    A:

    Gro Saver Flex Pro is a participating endowment1 plan. It provides protection against death and terminal illness of the insured during the policy term.


    We will also pay a maturity benefit at the end of the policy term.


    1An endowment plan combines insurance protection with a savings element. A participating policy is entitled to share in the profits of the participating fund. These profits are distributed via bonus declarations and are payable upon maturity, surrender or when there is a claim.

  • Q:Is there guaranteed acceptance for this plan?

    A:

    Yes, there is guaranteed acceptance for this plan regardless of the insured’s health condition. However, financial underwriting is applicable.

Death Benefit

  • Q:What is the death benefit payable?

    A:

    If the insured dies during the term of this policy, we will pay: 

    - 105% of all net premium(s) paid; or

    - 101% of the surrender value;

    whichever is higher.

    This policy will end when we make this payment.

    If you have appointed a secondary insured before the insured dies, we will not pay this benefit. Upon the death of the insured, the secondary insured becomes the insured and this policy will continue.

  • Q:What are the exclusion(s) for death benefit?

    A:

    This policy is not valid if the insured commits suicide within one year from the cover start date.

    We will refund the total premiums paid, without interest, less any amounts we have paid the policyholder, and any amount the policyholder owes us, from the cover start date.

Terminal Illness (TI) Benefit

  • Q:What is the TI benefit payable?

    A:

    If the insured becomes terminally ill during the term of this policy, we will pay:

    - 105% of all net premium(s) paid; or 

    - 101% of the cash value;

    whichever is higher.

    This policy will end when we make this payment.

     If you have appointed a secondary insured before the insured dies, we will not pay this benefit. Upon the death of the insured, the secondary insured becomes the insured and this policy will continue.

  • Q:What is the definition of TI?

    A:

    Terminal illness (TI), and terminally ill mean an illness which, in the opinion of the registered medical practitioner involved and a registered medical practitioner we have appointed, is highly likely to lead to death within 12 months. However, we will exclude terminal illness in the presence of human immunodeficiency virus (HIV).

  • Q:What are the exclusion(s) for TI benefit?

    A:

    We will not pay this benefit if your claim arises from: 

    - deliberate acts such as self-inflicted injuries, illnesses or attempted suicide; or 

    - unlawful acts, provoked assault, or deliberate exposure to danger; or 

    - the effects of alcohol, drugs or any dependence.

Guaranteed Insurability Option to Buy Another Life Policy

  • Q:When will the guaranteed insurability option to buy another life policy be available?

    A:

    If the original insured experiences any of the following life events, the original insured may choose to take up a new policy (with only death and total and permanent disability benefits) on their own life, without evidence of good health: 

    - Turning 21
    - Marriage
    - Divorce
    - Becoming a parent
    - Death of spouse
    - Purchase of a residential property

  • Q:What are the conditions that must be met to exercise this option?

    A:

    The following conditions are to be met to exercise the option to buy another life policy: 

    - The sum assured for the new policy will be limited to 50% of the sum assured for this policy, or S$100,000, whichever is lower. 

    - The original insured must take up this option within three months after the date of the life event. 

    - The original insured must not be totally and permanently disabled, or be diagnosed with an advanced-stage dread disease at the time of taking up this option. 

    - The original insured must be 50 years old and under at the time of taking up this option. 

    - The life event must have taken place no earlier than 12 months after the cover start date of this policy. 

    - At our request, the original insured must provide satisfactory documentary proof of a life event. 

    - The original insured can take up this option no more than two times. Each time the original insured takes up this option, it must be on a different life event. 

    - Any special terms that are added to this policy (such as extra exclusions or an increased premium) will also be added to the new policy which the insured takes up.

  • Q:What are the plans that I can apply under the guaranteed insurability option?

    A:

    The original insured has the option to buy another new life policy which covers only death and total and permanent disability. The list of plans available under the guaranteed insurability option are:

    • Star Term Protect
    • Mortgage Term
    • Star Secure Pro
    • DIRECT Star Protect Pro
Secondary Insured Option

  • Q:What is secondary insured option?

    A:

    You may appoint or remove a secondary insured before the death of the insured provided the following conditions are met: 

    - the premium of this policy is paid only with cash;
    - no nomination of beneficiary has been made for this policy; and
    - there is no change to the ownership of this policy including assignment, bankruptcy, and trust.

    In the event of death of the insured, the secondary insured will become the insured of the policy and the policy continues until the death of the insured or end of the policy term, whichever happens first.

    Any premium payments shall continue to be payable.

    The policy can only have one insured at any point of time.

  • Q:What is the definition of secondary insured?

    A:

    The secondary insured must be you (before the age of 65 years old), your spouse (before the age of 65 years old), or your child or ward (before the age of 18 years old) at the time of exercising this option.

  • Q:How many times can I exercise the secondary insured option?

    A:

    You can exercise this option to appoint a secondary insured no more than three times.

Riders / Supplementary Benefits

  • Q:What are Riders / Supplementary Benefits?

    A:

    Riders, also known as supplementary benefits, can be attached to a basic insurance policy to provide additional protection at lower cost.

  • Q:What are the rider(s) that can be attached to this plan?

    A:

    The following rider(s) can be added to Gro Saver Flex Pro:

    List of available rider(s)
    Cancer Premium Waiver (GIO)
    Savings Protector Pro*

    * Not applicable if the premium term for Gro Saver Flex Pro is single premium.

Cash Value, Bonuses & Maturity Benefit

  • Q:Is there any cash value for this policy?

    A:

    Yes, for regular premium policy, you can only cash in this policy after you have been paying premiums for at least two years.

    For single premium policy, you can only cash in this policy after you have paid the net premium(s).

  • Q:What is the maturity benefit payable?

    A:

    If the insured survives at the end of the policy term and this policy has not already ended, we will pay the cash value.

    This policy will end when we make this payment.

  • Q:Is this policy eligible for any bonus?

    A:

    Yes, this policy is eligible for bonuses after the end of the second policy year. There are two types of bonuses:

    1. “Annual” or “reversionary” bonus is added to the policy each year.
    2. “Terminal” bonus is an extra bonus that we pay at the time of claim, surrender or maturity.


    Bonuses are not guaranteed. They are recommended by our Appointed Actuary and approved by our Board of Directors.


    Bonus pay-outs to policyholders are primarily influenced by the performance of the Life Participating Fund (Par Fund). The Fund’s performance is predominantly driven by factors such as the investment returns of the Par Fund, its expenses and claims experience. Aligned to industry practice, Income is safeguarding policyholders’ interest by allocating 90% of Par Fund surpluses to them. This means for every $9 distributed to policyholders, only a maximum of $1 is allocated to shareholders.

Eligibility & Premium Payments

  • Q:What are the minimum and maximum entry ages?

    A:

    For single premium term:


    		MinimumMaximum
    Insured075
    Policyholder16*N.A.


    For premium terms 5, 10, 15, 20, 25 or 30 years:


    		MinimumMaximum
    Insured075 less premium term
    Policyholder16*N.A.


    *Parents cannot be the policyholder on their child who are 18 years old (age last birthday) and above at the point of application.

  • Q:What is the minimum and maximum sum assured set for this policy?

    A:

    For single premium:

    The minimum single premium is S$10,000 and the maximum single premium is S$7,000,000.


    For regular premium:

    Policy TermMinimumMaximum
    10, 15, 20, 25 or 30 yearsS$25,000S$2,000,000
    till age 120S$25,000S$3,500,000



  • Q:What are the premium terms and policy terms available?

    A:

    You have a choice to select a policy term of 10, 15, 20, 25, 30 years or till age 120 depending on selected premium payment term.

    Premium Term (Years)Policy Term (Years)
    Single Premium / 510, 15, 20, 25, 30 years or till age 120
    1015, 20, 25, 30 years or till age 120
    1520, 25, 30 years or till age 120
    2025, 30 years or till age 120
    2530 years or till age 120
    30till age 120

  • Q:Can I use funds in Central Provident Fund (CPF) or Supplementary Retirement Scheme (SRS) to buy this policy?

    A:

    For single premium, this plan can be bought using cash or SRS. 

    For regular premium, this plan can only be bought using cash.

  • Q:Can I backdate my policy?

    A:

    Backdating is only allowed for policy term till age 120 and if all of the following conditions are met:

    1. The backdating is for a traditional individual (savings or protection) life policy paying regular premium or single premium. Backdating for investment-linked policy and annuity policy is not allowed;
    2. The backdating results in a lower premium or better protection value / policy payouts due to a lower entry age; and
    3. The policy is backdated to a date up to one day before the Insured’s last birthday and it must be within 6 months from date of receipt of application by Income.
    4. Backdating of policy to a date before the launch date of the main plan or rider is not allowed.

  • Q:What are the premium frequencies available?

    A:

    You can pay either via a single or regular premium.

    For regular premium, the premiums can be paid monthly, quarterly, half-yearly or yearly.

Policy Loan

  • Q:Can I take a policy loan?

    A:

    Yes, we may grant the loan from this policy depending on our terms and conditions.

    We will take all loans and their interest from any amount we may be due to pay under this policy. If at any time the amount of the loans and interest is more than the cash value, this policy will end.