Life Insurance Corporation’s Grow-Easy

3.24% Guaranteed Total Return (3-year term)*

8.22% Guaranteed Total Return (6-year term)

Higher than SSB & Fixed Deposits!

*Returns based on a single premium of $50,000.

LIMITED TRANCHE

First Come, First Served Basis

 

InsureDIY is a Broker licensed by the Monetary Authority of Singapore and is an Exempt Financial Adviser.

 

Grow-Easy Sep 2021

Minimum single premium is $20,000

Pay by:

Premiums will be paid directly to LIC after you receive the Letter of Acceptance.


Details on the Cheque payment methods will also be emailed to you. 
Method 1: Cheques can be submitted at: 
Life Insurance Corporation (Singapore) Pte Ltd
3  Raffles Place
#07- 01, Bharat Building
Singapore 048617

Method 2: Cheque can be mailed via postal service to:
Life Insurance Corporation (Singapore) Pte Ltd
3  Raffles Place
#07- 01, Bharat Building
Singapore 048617


Your policy number will be emailed to you in 1-2 working days. You can proceed to make payment via bank transfer after you have received your policy number as this will need to be quoted as a payment reference number.   

* For Bank Transfer, Funds are to be paid out of an account held in your name (i.e. the policyholder).


Details on the Cashier's Order (CO) payment methods will also be emailed to you. 
Method 1: COs can be submitted at: 
Life Insurance Corporation (Singapore) Pte Ltd
3  Raffles Place
#07- 01, Bharat Building
Singapore 048617

Method 2: COs can be mailed via postal service to:
Life Insurance Corporation (Singapore) Pte Ltd
3  Raffles Place
#07- 01, Bharat Building
Singapore 048617

The Cashier's Order Application Form must be submitted together with the Cashier's Order.


Email Address
Handphone No. (8 digit of your phone no)
First Name As In NRIC
Last Name As In NRIC
Surname or Family Name
NRIC Number
Gender
Date of Birth
Block Number
Unit Number
Street/Building Name
Postal Code
Are you currently residing in Singapore?
Have you resided outside of Singapore continuously for 5 years or more preceding the date of this application?
Have you resided in Singapore for 183 days or more in the last 12 months preceding this application?
Do you have a pass that has a duration longer than 90 days and have you been residing in Singapore for 90 days or more in the last 12 months preceding this application?
Please upload documentary proof such as work or student permit issued by relevant authorities in the foreign country where you are residing.
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Are you solely a tax resident of Singapore?
Are you a U.S. Person / Person with a U.S. Indicia?
Tax Identification Number
I confirm that i am not a tax resident of any country (ies) other than the one (s) that I have declared above. I shall notify the Insurer within 30 days from date of change.
Politically Exposed Person (PEP) is an individual who is or has been entrusted with prominent public functions whether in Singapore or a foreign country. Prominent public function as defined in MAS Notice on Prevention of Money Laundering and Countering the Financing or Terrorism includes the roles held by head of state, a head of government, government ministers, senior civil or public servants, senior judicial or military officials, senior executives of state owned corporations, senior political party officials, members of the legislature and senior management of international organisations. By "related", we mean that the life insured, proposer, beneficiary, or beneficial owner are closely connected to a politically exposed person either socially or professionally, or are a parent, step-parent, child, step-child, adopted child, spouse, sibling, step-sibling and adopted sibling of a politically exposed person.
Full Name of the PEP
Full Name of the person related to PEP
Relationship with PEP
Politically Exposed Person (PEP) is an individual who is or has been entrusted with prominent public functions whether in Singapore or a foreign country. Prominent public function as defined in MAS Notice on Prevention of Money Laundering and Countering the Financing or Terrorism includes the roles held by head of state, a head of government, government ministers, senior civil or public servants, senior judicial or military officials, senior executives of state owned corporations, senior political party officials, members of the legislature and senior management of international organisations. By "related", we mean that the life insured, proposer, beneficiary, or beneficial owner are closely connected to a politically exposed person either socially or professionally, or are a parent, step-parent, child, step-child, adopted child, spouse, sibling, step-sibling and adopted sibling of a politically exposed person.
Full Name of the PEP
Full Name of the Person related to PEP
Relationship with PEP
Nature of Work
Name of Employer
Nature of Business
Nature of Work in Previous Occupation
Previous Occupation
Upload Picture of NRIC - Front
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Are you a smoker?
Upload Picture of NRIC - Back
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Source Of Wealth Others
Additional Details for Source of Funds
Details for Personal Savings (if currently not employed) / Proceeds from a Policy / Others. If not applicable, please fill in with a "-".

Are you the Payor for this policy?

Payor Contact Number
First Name of Payor
Last Name of Payor
Payor NRIC
Date of Birth of Payor
Payor Source of Wealth Others
Additional Details for Source of Funds
Details for Personal Savings (if currently not employed) / Proceeds from a Policy / Others. If not applicable, please fill in with a "-".
Upload Picture Payor's NRIC - Front
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Upload Picture Payor's NRIC - Back
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Receive Maturity Payout by:


Name of Bank and Branch
Bank Account Number
Name of Account Holder
Copy of your bank book or recent bank statement
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Is this application to replace or intended to replace any of the existing life insurance policies?
For the avoidance of doubt, this is NOT a nomination of beneficiary (ies) under the policy. [Beneficial owner, in relation to a customer of a financial adviser, means the natural person who ultimately owns or controls the customer or the natural person on whose behalf business relations are established, and includes any person who exercises ultimate effective control over a legal person or legal arrangement.]
Existing Insurance Policies Table or Applications Pending with any Insurance Company
Name of Company Inforce or Pending Sum Assured $ (Life) Sum Assured $ (TPD) Sum Assured $ (Critical Illness) Other (Please specify type) Annual Premium ($) Year Issued
Please provide details of your total insurance coverage (including concurrent applications and applications pending approval from other companies and indicate the currency.
Replacement of Existing Policies Table
Name of Company Policy No. Type of Policy Sum Assured ($) Year Issued
Please provide details of your total existing insurance coverage (including applications pending approval from other companies).
Declaration on Beneficial Owner Table
Full Name as shown on NRIC/Fin/Passport NRIC/Fin/Passport number Relationship to Proposer
If Yes, please provide the particulars of the beneficial owner (s) to this policy and provide a copy of their NRIC/Fin/Passport to us.
Upload Picture of NRIC Beneficial Owner - Front*
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Upload NRIC of Beneficial Owner - Back*
Accepted image file only jpg, jpeg, png max 10MB (pdf not accepted)
Referral Code

Declarations

 

I confirm that I am solely a tax resident of Singapore and do not have a foreign tax residency. My Singapore TIN is my NRIC or FIN. I am not currently residing outside Singapore and have not resided outside Singapore for 5 or more years. For PRs: I have been residing in Singapore for 183 days or more in the last 12 months preceding the date of this application.

I am not a Politically Exposed Person (PEP).

I am not currently applying for any other Life Insurance policies and I do not intend to replace any of my existing policies with this policy.

I would not like my dependant(s) to be taken into consideration for the needs analysis and recommendation(s).

I wish to receive product advice only and do not need my other insurance plans to be considered for needs analysis.

My financial priority is short-term savings. I prefer fixed income, capital guaranteed products. The return is within my expectations.

I tend to be conservative and would sell my investments to preserve cash in a short-term decline and I am uncomfortable with any loss of capital.

Capital preservation is my priority and my investment time frame is less than 5 years.

There are no events that will affect my financial condition in the next 12 months. I am not an undischarged bankrupt.

I can understand that I can view or download a copy of Your Guide to Life Insurance as well as Your Guide to Health Insurance/Your Guide to Participating Policies/Your Guide to Investment-Linked Plans (where applicable) from www.lia.org.sg.

I understand that my personal data will be used and transferred to InsureDIY Pte Ltd in accordance with the Privacy Policy, although I understand that InsureDIY Pte Ltd acknowledges that I may opt out of the use of my personal data for direct marketing purposes by indicating as such to sg_service@insurediy.com.

InsureDIY Pte Ltd and its affiliated companies would like to send me information on relevant products and services that may be of interest to me. Often, InsureDIY Pte Ltd or its affiliated companies are able to notify me on promotional prices that will give me good value. I agree to InsureDIY Pte Ltd and their affiliated companies using my personal data (email, telephone number and postal address) for direct marketing of products and services as set out in their Privacy Policy.

Do you agree to the declaration above

Key Features for LICS Grow-Easy

Guaranteed Returns

Up to 8.22% Guaranteed Total Return

Capital Guaranteed

 Capital Guaranteed & Protected by SDIC

3 year term

3-or 6-Year Term

InsureDIY Capital Plus Promotions

Up to $140 InsureDIY Promo

InsureDIY Online Application

Easy Online
Application through
InsureDIY

Why Apply for Grow-Easy

Looking for an investment with higher returns than Singapore Savings Bonds (0.52%) and Fixed Deposits (0.4%-0.65%)?

Enjoy a guaranteed total return of 8.22% (1.37% p.a.) in 6 years or 3.24% (1.08% p.a.) in just 3 years, with premiums as low as $50,000. Please see below illustration for returns on premiums below $50,000.

With guaranteed protection in the event of death and total permanent disability.

Plus, Grow-Easy is capital guaranteed and protected by SDIC.

Apply now before this tranche is closed!

InsureDIY is the only adviser platform where you can easily apply for Life Insurance Corporation’s Grow-Easy online and pay the premium directly to Life Insurance Corporation from the comfort of your own home.

Enjoy an exclusive promotion of up to $140 when you apply now!

Your application will be submitted directly to Life Insurance Corporation.

LICS Grow Easy Promotion

Each DIY$ is worth $1 and can be exchanged for vouchers including InsureDIY vouchers, NTUC Fairprice and Cold Storage vouchers. Or cash out at DIY$500! Check out our rewards catalogue here.

 

Single Premium Amount Promotion*
$500,000 and above DIY$40 + $100 Motor Insurance Voucher
$200,000 and $499,999 DIY$15 + $100 Motor Insurance Voucher
$100,000 to $199,999 DIY$10 + $80 Motor Insurance Voucher
$50,000 to $99,999 DIY$5 + $60 Motor Insurance Voucher
$20,000 to $49,999 $60 Motor Insurance Voucher

 

You can also redeem your existing DIY$ to enjoy cash rebates on LICS Grow-Easy, with 25% boost** on your points!

You will be paying the premium directly to Life Insurance Corporation. We will credit your cash rebate separately after your free-look period. You can choose to redeem the cash rebate before or after application.

 

Redemption Cash Rebate
DIY$8 $10
DIY$40 $50
DIY$80 $100

Total premiums will be aggregated across policies if you are applying for multiple LICS Grow-Easy policies.

* DIY$ will be awarded to both new and existing InsureDIY users, upon successful application of LICS Grow-Easy, after 30 days from the policy commencement. Motor Insurance Vouchers are transferable and will be valid for 1 Year. Subject to a minimum motor insurance premium of $600 and cannot be used with any other InsureDIY promotions.

** only available for users who have existing DIY$, excluding the DIY$ awarded for this tranche of LICS Grow Easy.

Referral Program

LICS Grow Easy is also eligible for the Refer a Friend program. Refer your friends and family for LICS Grow Easy and get DIY$10 for each referral.

DIY$ can be exchanged for vouchers including InsureDIY vouchers, NTUC Fairprice and Cold Storage vouchers. Check out our rewards catalogue here.

How to refer:
Simply ask your friend to select "Referral" during the application process and key in your email address or referral code when they apply for LICS Grow Easy here

Referral Reward
DIY$10 each

LICS Grow Easy Details

Life Insurance Corporation’s Grow-Easy is a Single Premium Endowment Plan with Guaranteed Returns. You can choose either a 3- or 6-year term. With higher guaranteed returns than SSB’s 0.52% p.a. and Fixed Deposit rates of 0.4%-0.65% p.a., Grow-Easy also pays out an additional 10% of single premium for Accidental Death in the first year of policy and before age 70.

Life Insurance Corporation’s Grow-Easy 2021 Product Illustration:

Maturity Value 3 Year Term

Quantum of Single Premium in S$ Maturity Value 3 Year Term Guaranteed Return – Simple Interest
20,000 (min) 20,618 1.03 per annum
50,000 51,620 1.08 per annum
200,000 206,480 1.08 per annum

Maturity Value 6 Year Term

Quantum of Single Premium in S$ Maturity Value 6 Year Term Guaranteed Return – Simple Interest
20,000 (min) 21,584 1.32 per annum
50,000 51,110 1.37 per annum
200,000 216,440 1.37 per annum

 

Please note that the Guaranteed Death Benefit within 11 months from the issue date of the policy is 100% of the Basic Premium Paid-to-date instead, and the Guaranteed Death Benefit from the 12th month and thereafter is 105% of the Basic Premium Paid-to-date.

Forest

Commonly Asked Questions about Life Insurance Corporation’s Grow-Easy Plan

  1. Who is suitable for LICS Grow-Easy?

    LICS Grow-Easy is suitable for individuals who prefer guaranteed returns and capital protection, with short to medium-term investment horizon.

  2. Is there any difference between buying Life Insurance Corporation’s Grow-Easy through InsureDIY or from other distributors?

    When you apply through InsureDIY, you are applying for the same product as other distributors, but with exclusive promotions not available anywhere else! We are also the only distributor offering an online application process, so you will get to save time while enjoying more value. Apply now through InsureDIY and grab this limited tranche opportunity before it’s gone.

  3. What are the benefits covered under LICS Grow-Easy?

    LICS Grow-Easy provides death benefit, accidental death benefit, Total Permanent Disability (TPD) benefit and maturity benefit.

  4. What is the minimum and maximum premium size for Life Insurance Corporation’s Grow-Easy?

    LICS Grow-Easy has a minimum premium of S$20,000 and maximum premium of S$200,000 for 3-years and 6-years term.

  5. What are the minimum and maximum ages for Life Insurance Corporation’s Grow-Easy?

    Individuals from ages 18 to 70 (next birthday) are eligible to apply for Life Insurance Corporation’s Grow-Easy.

  6. Is there a limit to the number of policies you can purchase?

    No, there is no limit. Multiple policies are allowed under the same life insured, subject to a maximum aggregate single premium of S$200,000 per tranche.

  7. If I am a foreigner, can I apply for Life Insurance Corporation’s Grow-Easy?

    Yes, if you are residing in Singapore at the time of application, with a valid pass that has a minimum validity period of 6 months from the proposal signed date. However, foreigners from sanctioned countries will be turned down.

  8. What are the acceptable source of funds for Life Insurance Corporation’s Grow-Easy?

    The Single Premium payment can be made via Cheque or Cashier's Order only, payable to " Life Insurance Corporation (Singapore) Pte Ltd".

    If submitting a Cashier's Order, please submit a copy of cashier’s order application form or a copy of the debit advice showing the payer’s details.

  9. Can I use my SRS funds to apply for Life Insurance Corporation’s Grow-Easy?

    No, SRS funds cannot be used for LICS Grow-Easy. The Single Premium payment has to be made via Cheque or Cashier's Order.

  10. Is Life Insurance Corporation’s LICS Grow Easy covered by SDIC?

    Yes, subjected to a maximum of S$500,000 for the aggregated guaranteed sum assured and S$100,000 for the aggregated guaranteed surrender value per life assured per insurer.​

  11. Is there any medical requirements for LICS Grow-Easy?

    No medical examination is needed.

  12. Can I make nomination?

    Yes, you can assign or nominate anyone as a beneficiary.

InsureDIY is a Broker licensed by the Monetary Authority of Singapore and is an Exempt Financial Adviser. This advertisement has not been reviewed by the Monetary Authority of Singapore.