This is NOT a fixed or savings deposit. It is an endowment insurance plan.
MaxGrowth Plus is a 12-year regular premium, limited pay endowment insurance plan. You can use MaxGrowth Plus to save for future goals such as your retirement or child's education.
With MaxGrowth Plus, you only need to pay regular premiums for the first 6 years of the 12-year endowment insurance plan.
Through the whole policy term of 12 years, you enjoy protection against death, total and permanent disability (TPD), as well as terminal illness (TI).
You can choose to receive yearly cash payouts starting from the end of the second policy year, or accumulate them. At the end of the policy term, you will receive a lump sum maturity benefit, including non-guaranteed bonuses for your future goals.
The figures used are for illustrative purposes only. Please refer to the policy illustration and product summary for the exact values. The non-guaranteed bonuses are based on a projected investment rate of return of 4.60% p.a. and the actual benefits payable will depend on how the participating fund performs in the future.
Mr Tan chooses to accumulate his yearly cash payouts from the end of the second policy year.
He will get a total maturity benefit of S$74,320 after 12 years, which consists of a guaranteed sum of S$50,000 and non-guaranteed bonuses of S$24,320 (based on a projected investment rate of return of 4.60% p.a.)
Mr Tan chooses to receive yearly cash payouts from the end of the second policy year.
The cash payout of 1.5% for sum assured of S$50,000 is payable starting from the end of the second policy year. The percentage will increase by 0.5% of the sum assured yearly up to 6% at the end of the 11th policy year.
He will get a total maturity benefit of S$52,899 after 12 years, which consists of a guaranteed sum of S$31,250 and non-guaranteed bonuses of S$21,649 (based on a projected investment rate of return of 4.60% p.a.)
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.
MaxGrowth Plus 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.
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.
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 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 benefi 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)