GREAT Prestige Heritage Protector AFP: Single Premium USD | Great Eastern Life Indonesia

General requirements:

• Insured Entry Age: 18 years – 80 years 
• Policyholder entry age: 18 years – 99 years
• Age Calculation Method: Next birthday method
• Sum insured: 

Notes: 

• Maximum Sum Insured Depends on the Adequacy of Cash Value
• Customers with certain health conditions whose insurance applications are rejected or postponed by the Company have the option to purchase Accidental Death Insurance, as a replacement for Life Insurance for any reason.
  

• Insurance Period: Until the Insured is 99 years old
• Premium Payment Period: Single Premium is paid in one lump sum 
• Premium Terms: 
  • Single Basic Premium:
    • Minimum : USD 10.000
    • Maximum: in accordance with underwriting provisions
• Withdrawals: Policyholders are permitted to withdraw funds under the following conditions. For complete information, please see the withdrawal section.
  
  • Partial Withdrawals can be made after 2 years of active Policy. Partial Fund Withdrawals
  • The minimum withdrawal amount of USD 1,000 refers to the minimum balance of the Policy Cash Value after withdrawal of USD 20,000.
  • Any withdrawal of funds will be taken from the Cash Value, with the following conditions:
    • Withdrawals made from the 2nd (second) Policy Anniversary to the 10th (tenth) Policy Year will be subject to a Fund Withdrawal Fee and will not reduce the Sum Insured. 
    • Withdrawals made starting from the 11th (eleventh) Policy year will not be subject to a Withdrawal Fee, but will reduce the Sum Insured and subsequently the Sum Insured will be reduced by the amount of withdrawals made by the Policy Holder.  

    The maximum withdrawal amount is 60% of the Single Basic Premium. Valid for policy years 3 through 10.

  • Policy Redemption: The Policyholder may submit a written request to the Company to redeem the Policy or withdraw the entire Total Cash Value. Upon request to redeem the Policy, the Company will pay the Total Cash Value available in the Policy upon approval of the Policy redemption and charge a policy redemption fee, and the Policy will then terminate.

• Costs: 
  • The Initial Fee charged to the Policyholder is 13.5% of the Single Basic Premium
  • Administration Fees will be deducted every Policy month which will be taken from each Basic Cash Value in the amount of = 0.1% per year of the Cash Value divided by 12
  • Insurance costs are calculated based on the sum insured, age and gender of the insured, which falls due on each policy anniversary date as long as the policy is still valid.
  • Fund Withdrawal Fee: Fund withdrawals made from the 2nd (second) Policy Anniversary to the 10th (tenth) Policy Year will be subject to Fund Withdrawal Fees for the Policy Holder as follows:

• Redemptions made in the 1st (one) to 10th (tenth) Policy Year will incur a Redemption Fee to the Policyholder as follows:

GREAT Prestige Heritage Protector is a life insurance product owned by PT Great Eastern Life Indonesia ("Great Eastern Life Indonesia"), PT Great Eastern Life Indonesia is fully responsible for the GREAT Prestige Heritage Protector product and the contents of the insurance policy issued for the GREAT Prestige Heritage Protector product. The premium paid by the Policyholder includes acquisition, administration, fund management, bank commission and marketing staff commission (if any). The information in this document must be read and subject to the provisions of the Policy and other provisions related to the GREAT Prestige Heritage Protector product that are currently in effect or any changes in the future.

GREAT Prestige Heritage Protector is a Single Premium product in USD currency with flexibility in determining the amount of insurance according to the customer's wishes. GREAT Prestige Heritage Protector provides customers with the opportunity to enjoy a fixed Return for the first 10 (ten) years of the Policy and provides a Loyalty Bonus of 3% of the Single Premium at the end of the 10th policy year in accordance with applicable provisions. GREAT Prestige Heritage Protector will protect your long-term goals with an Insurance Period up to the age of 99 (ninety-nine) years.  This product has received approval from the Financial Services Authority. For further information regarding the benefits available in this insurance product as well as matters not covered in this product, please contact us at the address, telephone number and e-mail provided or visit www.greateasternlife.com/id .