GREATLife Endowment Insurance

Multiply your returns to meet your changing life goals

Why you will love this

Grow your wealth at up to 4.03% a year

Who can apply

Anyone between 1 month old (age exact birthday) and 70 years old (age next birthday)

Features and benefits

Grow your wealth at up to 4.03% p.a.

Based on entry age of 25, retirement age of 65 and premium payment term of 10 years.

Based on entry age of 25, retirement age of 65 and premium payment term of 10 years.

Make full or partial withdrawal

As long as there is a cash value. Basic sum assured will be reduced.

As long as there is a cash value. Basic sum assured will be reduced.

Enjoy guaranteed capital

From the end of the 15th policy year, if no withdrawals are made.

From the end of the 15th policy year, if no withdrawals are made.

Continue your policy with your loved one

Insure another loved one. If the unfortunate happens, the policy will insure your appointed loved one and continue to grow.

Insure another loved one. If the unfortunate happens, the policy will insure your appointed loved one and continue to grow.

No health check-up needed

No medical underwriting is required.

No medical underwriting is required.

Get essential insurance coverage

Receive coverage for Death, Total & Permanent Disability and Terminal Illness for as long as this policy is in effect.

Receive coverage for Death, Total & Permanent Disability and Terminal Illness for as long as this policy is in effect.

This is not a fixed or savings deposit. It is an endowment insurance plan.

Grow your wealth at up to 4.03% p.a.

Based on entry age of 25, retirement age of 65 and premium payment term of 10 years.

Make full or partial withdrawal

As long as there is a cash value. Basic sum assured will be reduced.

Enjoy guaranteed capital

From the end of the 15th policy year, if no withdrawals are made.

Continue your policy with your loved one

Insure another loved one. If the unfortunate happens, the policy will insure your appointed loved one and continue to grow.

No health check-up needed

No medical underwriting is required.

Get essential insurance coverage

Receive coverage for Death, Total & Permanent Disability and Terminal Illness for as long as this policy is in effect.

This is not a fixed or savings deposit. It is an endowment insurance plan.

How it works

Based on a yearly premium of S$5,000 for 10 years

Cashing out the policy after 30 years

I would like to set a yearly premium of S$5000

S$5000

S$10000

I would like to pay the yearly premium for 10 years

5 years

15 years

I will need this money in 30 years

15 years

50 years

See how your payout changes with different premium and policy durations.

Pay yearly premium of S$5,000 for 10 years

Total yearly premiums paid (10 years): S$50,000

Year 15

Capital guaranteed at end of Year 15

Year 15

Total payout of S$135,669

2.71x of total premiums paid

Total payout

S$61,669

Guaranteed cash value

+

S$74,000

Non-guaranteed bonus

=

S$135,669

Any partial withdrawal will reduce the value of the policy and is subject to the terms of reduction in basic sum assured. Policy will terminate upon full withdrawal of the policy value.

The figures used are for illustrative purposes only and are subject to rounding. Please refer to the policy illustration for the exact values. Premiums are computed based on premium payment term. The non-guaranteed bonuses are based on an illustrated investment rate of return of the participating fund at 4.75% a year. At 3.25% illustrated investment rate of return a year, the total payout at the end of policy year 60 will be S$220,697. The actual benefits payable will vary according to the future performance of the participating fund.

Before you apply
What are the premium payment options?

You can choose to pay your premiums monthly or annually, over 5 years, 10 years, or 15 years.

For the 5-year premium payment term option, you can choose to pre-pay in advance in one lump sum, in exchange for a discount.

Can I purchase GREATLife Endowment Insurance if I have pre-existing health conditions?

Yes. However, if the life insured passes away due to a pre-existing condition within 12 months from the start date of the policy or suffers from pre-existing Terminal Illness, the policy will end and all the premiums paid (less any debt and bonus paid under the policy) will be refunded. Payment of the Total and Permanent Disability (TPD) benefit will not be made if the life insured has pre-existing TPD.

Can I make a partial withdrawal if I need the cash during the policy term?

Yes, provided there is value in your policy. Note that if you make a withdrawal, it will reduce the value of your policy.

What are the important notices and Policy Owners' Protection Scheme?

Important notice

4.03% a year is based on entry age of 25, retirement age of 65 and premium payment term of 10 years.

GREATLife Endowment Insurance is provided by The Great Eastern Life Assurance Company Limited, a wholly owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group. This plan is not a bank deposit and OCBC Bank does not guarantee or have any obligations in connection with it.

This document does not take into account your particular investment and protection aims, financial situation or needs. You may want to seek advice from a financial adviser before committing to buy the product. If you choose not to seek advice from a financial adviser, you should consider whether the product is suitable for you.

As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.

This document is for general information only. It is not a contract of insurance or an offer to buy an insurance product or service. It is also not meant to provide any insurance or financial advice. The specific terms and conditions of the plan are set out in the policy documents. If you are interested in the insurance policy, you should read the product summary and policy illustration (available from us) before deciding whether to buy this product.

We do not guarantee, represent or warrant that any of the information provided in this document is accurate and you should not rely on it as such. We do not undertake to update the information or to correct any inaccuracies. All information may change without notice. We will not be liable for any loss or damage arising directly or indirectly in connection with or as a result of you acting on the information in this document.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Information presented as at 1 September 2020.

Policy Owners’ Protection Scheme

This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

More questions and answers

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