NTUC introduced a new LP Whole Life PAR plan (VivoSave)

NTUC Income, has pushed out its new premium payment plan, VivoSave, which combines significant long-term savings with flexible cash flow. It provides financial help at different stages in life and ensures benefits for future generations.

• 10 and 15-year premium payment terms,  
• Guaranteed cash benefit¹ (up to 8% of the sum assured)
• Option to withdraw or deposit the cash benefit¹
• Extended death benefit payable for 10 years to your loved ones²
• Protection against Death and Total and Permanent Disability (TPD before age 65)
• Lump sum maturity benefit³ payout upon age 85

The cash benefits are 3 per cent of the sum assured in the initial 10 years after payment, 6 per cent in the following 10 years and 8 per cent for the years after until the insured person reaches 85 years of age.

It can be taken out to fund home renovations or school education.

NTUC Income said the application for VivoSave will not take into account a policyholder's medical condition for a sum assured up to $100,000, to make it more accessible.

NTUC Income's senior vice-president and general manager of distribution, Ken Ng, said the plan "addresses the financial needs of a population that is ageing while becoming more affluent".

http://www.vivosavecashcow.com.sg/