COVID-19 has created a situation that certain parts of the world’s economy are in distress. We have a sudden dislocation of resource allocation. Central banks around the world have provided liquidity to prevent the global economy from going into a freefall. We are seeing exceptionally low interest rate. Rates that we have not seen in the past. This has hurt traditional savers the most. The traditional savers are more risk averse. A larger proportion of their net wealth is in cash. In 2020, we have seen various financial institutions reducing their fixed deposit rates, interest rates on hurdle accounts. The incentive to save has reduced. NTUC Income is back with their Gro Capital Ease. Gro Capital Ease is a 3-year endowment plan that will deliver a guaranteed return of 1.58% p.a.¹ at maturity. All you need to do is commit a single premium (a one-time lump-sum payment), and at the end of the 3 years, you will receive a guaranteed maturity benefit of 104.82%² of the single premium....