GREATLife Endowment Insurance

Multiply your returns to meet your changing life goals

Why this is for you

Enjoy flexibility to make partial or full withdrawal of your cash value to meet your needs.

Eligibility

1 to 70 years old (age next birthday)

What is GREATLife Endowment Insurance?

You work hard to achieve your life goals. But your goals may change along the way. With GREATLife Endowment Insurance, multiply your returns to ensure that you meet your goals in life, even as they change. This is not a fixed or savings deposit. It is an endowment insurance plan.

Why choose GREATLife Endowment Insurance?

  • Flexibility to withdraw cash value

    Enjoy flexibility to make partial or full withdrawal of your cash value to meet your life goals, or to suit your lifestyle needs.

  • Capital guaranteed from the end of the 15th policy year

    Your capital is guaranteed from the end of the 15th policy year. Thereafter, your returns may multiply as your plan's non-guaranteed bonuses grow.

  • Hassle-free application

    No medical underwriting is required when you apply for GREATLife Endowment Insurance.

  • Choice of premium payment terms

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

  • Insurance coverage

    GREATLife Endowment Insurance provides insurance coverage against Death, Total and Permanent Disability (TPD) and Terminal Illness (TI) till the policy anniversary on which the insured person is 120 years old (age next birthday). Optional riders are available to provide premium waiver benefit and retrenchment benefit should the unfortunate happen. Please refer to the policy contract for full terms and conditions.

  • Policy continuity (Option available in or around December 2019)

    You have the option to appoint your loved one as a secondary life assured. Should the unfortunate happen to you, the policy will continue to grow for your appointed loved one's life goals.

    The option to appoint the secondary life assured is anticipated to be available in or around December 2019. The foregoing reflects the current intentions by The Great Eastern Life Assurance Company Limited to implement such feature unless market conditions should change. In any event, The Great Eastern Life Assurance Company Limited reserves the right to revise, refine and/or supplement such features, and terms and conditions shall apply.

How it works

Mr Chan is 30 years old. He signs up for GREATLife Endowment Insurance with a yearly premium of S$5,000 and a premium payment term of 10 years.

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

The figures used are for illustrative purposes only and are rounded down to the nearest dollar. All ages specified refer to age next birthday. Please refer to the policy illustration for the exact values. Premiums are computed based on premium payment term and sum assured. The non-guaranteed bonuses are based on an illustrated investment rate of return of the participating fund at 4.75% p.a. At 3.25% p.a. illustrated investment rate of return, the total surrender values at the end of policy years 20, 30, 50 and 60 are S$70,120, S$93,233, S$164,766 and S$220,697 respectively. The actual benefits payable will vary accordingly to the future performance of the participating fund. Please refer to the policy illustration and product summary for more information.

How to Apply

Call us
(65) 6722 2293
Mon - Fri, 9am to 6pm

Policy Owners' Protection Scheme

This plan 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).

Important Information on GREATLife Endowment Insurance

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 is correct as of 1 November 2018.