Stay assured. Secure a lasting legacy for the next generation.

Stay assured. Secure a lasting legacy for the next generation.

Lifetime monthly income
from the 5th policy year and steps up on the 10th, 15th and 20th policy year
Lump sum inheritance
for your next generation

PremierLife Generation III

PremierLife Generation III

Enjoy lifetime monthly payouts from the 5th policy year and your monthly income steps up on the 10th, 15th, and 20th policy year. Your monthly payout is made up of guaranteed survival benefit (i.e monthly income) and non-guaranteed cash bonuses.
A lump sum payout (i.e. death and terminal illness benefit) which consists of 105% of the single premium and non-guaranteed terminal bonus (if any), will be paid out upon an untimely demise.
There is an option to take up a loan to fund part of your insurance premium.
This is a whole of life insurance plan. It is not a fixed or savings deposit. This is a SGD denominated plan.

Here’s an example of planning for 2 generations with PremierLife Generation III (SGD)

Here’s an example of planning for 2 generations with PremierLife Generation III (SGD)

In the illustration below, all ages specified refer to the age next birthday. The illustrated figures consist of guaranteed benefit and non-guaranteed bonuses. In the illustration below, the non-guaranteed bonuses are based on an illustrated investment rate of return at 4.75% p.a. and the actual benefits payable will depend on how the participating fund performs in the future.

CUSTOMISE YOUR PLAN

You may take up a loan from OCBC to fund part of your insurance policy. To find out more, please speak to your Relationship Manager.

Financing will be suitable for you if you are able to:

  • Make payments towards your loan during your lifetime

The interest rate you are paying is subject to interest rate fluctuations.

An increase in interest rate will result in higher interest payment. If there is a default in payment, the bank may be forced to surrender the policy and you will lose the protection from your policy.

  • Repay part of your loan if your loan exceeds the value of your policy

If the interest rate from your loan increases or the value of your policy decreases, you could end up owing the bank more than you initially borrowed.

You have an option to pay off the loan and interest during your loan tenure.

Options to pay off your loan:

  • Monthly instalment

Make regular payments towards the principal amount.

  • Lump sum payment

Pay off the loan partially or in full.

Based on an illustrated investment rate of return at 3.25% p.a., he will receive S$629 monthly from the 5th – 9th policy year; S$641 monthly from the 10th – 14th policy year; S$660 monthly from the 15th – 19th policy year and S$689 monthly from the 20th policy year onwards. The total monthly payout received during his lifetime is S$289,197 and his family would receive an inheritance of S$405,750. The total benefit he and his family would receive is S$694,947.



Figures used are for illustrative purposes and subject to rounding.

Please refer to the policy illustration for the exact values.
Important Notice

All ages specified refer to age next birthday.

PremierLife Generation V (SGD) is underwritten 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.

PremierLife Generation V (SGD) is only available in SGD currency.

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.

Any and all scenario analysis that are set out is provided for demonstrative purposes only. It does not present all possible outcomes or describe all possible factors that may affect the value of the proposed transaction.

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. The premium financing is provided by OCBC Bank, while the insurance benefits are provided by The Great Eastern Life Assurance Company Limited.

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 document may be translated into the Chinese language. If there are any differences between the English and Chinese versions, the English version will prevail.

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

Information presented as at 1 March 2024.

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).

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