GIFT policy

GIFT is the name given by NTUC Income for a special product that provides a "guaranteed income for a fixed term".

You invest a lump sum and received a guaranteed income for 5, 10 or 15 years. The rate of return is about 3% to 4% p.a depending on term. This is guaranteed.

This plan is suitable for you to provide a monthly allowance to a parent, child or a family member. After setting aside the lump sum, the monthly payment is made to the bank account of the beneficiary. It is almost like a "gift".

You can also make a gift for yourself.

This is different from a life annuity in the following aspects:

* it is paid for a fixed term, and not for life
* the capital is exhausted at the end of the term
* in the event of death of the beneficary during the term, the discounted value of the remaining payments will be refunded.