GREAT SP (GSP) Endowment Plan | OCBC Singapore

GREAT SP (GSP)

GREAT SP – Guaranteed return of 2.60% p.a. upon maturity in 24 months

Why you will love this

100% capital guaranteed upon maturity

Pay using cash or your SRS funds

Insurance coverage for Death and Total & Permanent Disability

Who is eligible

Online:
Singaporeans and Singapore PRs between 19 and 75 years old (age next birthday)

At OCBC branches:
Anyone between 1 and 75 years old (age next birthday)

GREAT SP — A 24 months single premium insurance plan.

Features and benefits
Total guaranteed returns

Guaranteed return of 2.60% p.a. upon maturity in 24 months

Capital guaranteed

100% capital guaranteed upon maturity

Payment options

Cash or Supplementary Retirement Scheme (SRS) funds can be used

No medical check-up required

No medical check-up required

Insurance coverage

Insurance coverage for Death and Total & Permanent Disability

This is not a fixed or savings deposit. It is a non-participating endowment insurance plan.

How it works

You have the option to receive a one-time payout or yearly payouts. The one-time payout option includes additional non-guaranteed accumulation interest at the end of the policy term, while the yearly payout option will not include additional non-guaranteed accumulation interest.

Total illustrated payout upon maturity
Total illustrated payout upon maturity
Total illustrated payout upon maturity
Total illustrated payout upon maturity
Total illustrated payout upon maturity
Total illustrated payout upon maturity

The figures used are only for illustrative purposes and may have been rounded up or down. The non-guaranteed payout is calculated based on an illustrated accumulation interest rate of 3.00% per annum. Based on an illustrated accumulation interest rate of 1.50% per annum, the total illustrated payout at the end of 24 months will be $52,619. The accumulation interest rate is not guaranteed and can change from time to time.

Before you apply
Frequently asked questions
More questions and answers
Is GREAT SP a regular premium insurance plan? How much money do I need to set aside?

GREAT SP is a single premium insurance plan. You only need to make a one-time payment. The minimum single premium will depend on the entry age (as of next birthday) of the life assured and the payment method.

Age next birthday Cash Supplementary Retirement Scheme (SRS) funds
65 and below 10,000 SGD 10,000 SGD
66 to 75 20,000 SGD 15,000 SGD
What is the minimum one-time payout that I will receive at the end of 24 months?

Based on accumulation option, at the end of 24 months, your one-time payout will consist of 3 components:

  1. Full money back: Get back the full amount of money which you had set aside.
  2. Guaranteed payout: Receive 2.60% guaranteed yearly payout of the money which you had set aside.
  3. Accumulated interest: This refers to the additional non-guaranteed interest on the yearly payout.

You can also choose to receive yearly guaranteed payouts at the end of 12 months and 24 months. To opt for yearly payouts, you can apply on your browser or visit any OCBC branch.

Can I buy more than 1 policy?

Yes, you can buy multiple policies.

Can I buy the policy for my spouse or child?

Yes, you can apply at any OCBC branch. Our OCBC Personal Financial Consultant will help you with the application.

More questions and answers