Press Releases

Press Releases

NTUC Income Launches Savings Plan That Combines Significant Long-Term Savings With Flexible Cash Flow

3 Sep 2012

Innovative limited premium payment plan comes with high-value, long-term savings and flexible cash flow to help customers meet their varied financial needs

Singapore, 3 September 2012 – NTUC Income, a leading Singapore insurer, today launched VivoSave, an innovative limited premium payment plan that combines significant long-term savings with flexible cash flow.  This will help policyholders meet their financial needs at different life stages and secure benefits for future generations.

Policyholders can choose between a 10-year and a 15-year premium payment term, after which they will enjoy yearly guaranteed cash benefits that are payable until the insured reaches the age of 85.  The amount of guaranteed cash benefits payable each year increases over time.  The maturity benefit is payable at age 85.

A unique feature of the plan are guaranteed cash benefits of 3% of the sum assured in the first 10 years after the premium payment period, 6% in the next 10 years and 8% in the years after, up to age 85 of the insured.  These coupon rates provide the best customer value among savings plans in the market.  To optimise the benefits of VivoSave, policyholders may opt to take up the plan for their children.

Policyholders can withdraw these cash benefits to help fund a variety of objectives, from paying for home renovations to supporting a child’s education. Alternatively, these cash benefits can be deposited with NTUC Income to earn additional interest, until the time that the policyholder wishes to withdraw them.

NTUC Income will guarantee acceptance of VivoSave applications regardless of the insured’s medical conditions for a sum assured of up to $100,000.  This makes the plan accessible to more people.

NTUC Income Senior Vice President & General Manager, Distribution Ken Ng said, “VivoSave is an innovative product that addresses the financial needs of a population that is aging while becoming more affluent.  It helps customers manage planned and unplanned expenses at different life stages and build a legacy for their children and grandchildren.  The plan allows them to invest for a limited period and enjoy significant benefits that last for generations.”

Appendix A: Illustration of how VivoSave works for a 35-year male
(based on 10-year premium payment period)

Mr Lee bought a VivoSave policy at age 35 for sum assured of $25,000 and a premium payment term of 10 years.


1 You will receive the cash benefit as long as Insured is alive, you have paid in full for your policy and your policy has not ended. If your policy has been converted to paid-up, you will not receive any cash benefit. Paid-up means reducing the sum assured of your policy after it has built up a cash value, so you will not have to pay any further premiums.

2 Extended death benefit is payable if the Insured dies after the 5th year. Your loved ones will not receive the extended death benefit if your policy has been converted to paid-up policy.

3 The maturity benefit will be paid as long as the insured is alive at the end of the policy term and the policy has not ended.

4 Interest rate is not guaranteed. Prevailing interest rate at the point of deposit will be determined by NTUC Income.

5 Bonus rates are not guaranteed and will change according to the future performance of the Life Participating Fund.

6 The projected figure is not guaranteed and is based on the assumption that the Life Participating Fund earns an average return of 5.25% per annum in the future. Bonus rates are not guaranteed. The actual benefit payable will vary according to the future performance of the Life Participating Fund. The yearly cash benefits are assumed to be withdrawn by the policyholder.