This is NOT a fixed or savings deposits. It is a term insurance plan.
MaxFamily Protector pays a stream of income in the event that the insured person dies or suffers total and permanent disability (TPD). A lump sum benefit of 3 times the annual income benefit will be paid out immediately and future premiums are waived. The annual income benefit will be paid out from the next policy anniversary following the claim event, until the policy term ends.
Take up MaxFamily Protector (CI) to also include coverage against critical illnesses.
Mr Lim bought MaxFamily Protector with an annual income benefit of S$50,000 at age 30 (nearest birthday). He pays a yearly premium of S$6,161 for 20 years as he wants to be financially protected until he is 50 years old. He is a non-smoker. Premiums are computed based on age nearest birthday, policy term, smoking status, gender and country of residency.
Mr Lim does not make any claim.
Mr Lim is struck with the unfortunate at age 40 and loses both his limbs due to an accident. He makes a claim for TPD.
Use the exclusive S$108 Premium voucher to purchase SupremeHealth (a Medisave-approved Integrated Shield Plan) as early as 15 days after your child is born to give him/her protection. Protect your child with hospitalisation and surgical benefits, including emergency medical treatment outside Singapore.
For more information, please contact our Financial Protection Specialists at 6722 2293.
MaxFamily Protector and MaxFamily Protector (CI) are 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.
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. It is usually detrimental to replace an existing accident and health plan with a new one. A penalty may be imposed for early plan termination and the new plan may cost more, or have less benefits at the same cost. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable, if any, may be 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 benefit 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 plan is protected under the Policy Owner's 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)