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SmartEducate Saver

SmartEducate Saver -  Great Eastern

SmartEducate Saver

Grow your child’s education fund affordably

As parents, many of us wonder what our little one is going to grow up to be. A doctor? A lawyer, perhaps? In any career, a good education goes a long way towards helping your child enjoy a smoother, more successful journey through life. With the rising cost of education, it’s never too soon to prepare for the day you send your little one to college.

SmartEducate Saver opens the door for your child to enjoy better education opportunities. An investment-linked insurance plan, it grows your child’s education fund with additional investment allocations – while also providing protection against the unexpected. You can start with as low as RM100 a month, making it an affordable education plan to secure your child’s future.

Key benefits

Grow your child’s education fund

To boost the investment value of your policy, an extra investment allocation of 2% will be added1 for premiums paid at every 3rd policy year.

Boost your investment value any time

You can boost the investment value of your policy via single premium top-ups – we will direct 95% of it to unit funds1 to grow your potential returns.

Plan ahead with flexible terms

Choose the policy term from 8 to 24 years – at the end of your term, you’ll receive the plan’s total investment value1 to fund your child’s education.

Be protected against life’s uncertainties

Should death or TPD occur, the plan provides financial support with payment of the Basic Sum Assured, along with the total investment value1 in accordance with the provisions of the policy.

Choose your own unit funds

SmartEducate Saver allows you to choose from a wide range of professionally managed unit funds to suit your risk appetite and investment style, as well as the flexibility to switch funds1.

No-Lapse Guarantee in the early policy years

A ‘No-Lapse Guarantee’ in the first three policy years ensures that your policy will continue to remain in-force even if your Total Investment Value (TIV) becomes zero, so long as the premiums are paid consistently on each premium due date, or during the grace period, and no withdrawal is made within the first three policy years1.

Tax relief

Benefits received from SmartEducate Saver are generally non-taxable and premiums paid may qualify for tax relief. However, tax benefits are subject to the Malaysian Income Tax Act, 1967, and final decision of the Inland Revenue Board.

Life planning advisor

Contact a life planning advisor

Talk to your Great Eastern life planning advisor to see which insurance solutions are right for you. No representative yet? Simply browse through our list of life planning advisors.

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303 Jalan Ampang
50450 Kuala Lumpur

Footnotes and Disclaimers

Please do take note of the below to ensure you fully understand what this product does and does not cover. If in doubt, contact your Great Eastern life planning advisor or have us call you back.

Footnotes

1 Terms and conditions apply.

Disclaimer

SmartEducate Saver is a regular premium investment-linked insurance plan. Some of the choice of funds invest in Shariah-approved securities. This plan is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. This is not a Shariah-compliant product. Premiums are payable for the whole term of the policy, or until death or TPD, whichever comes first. You should satisfy yourself that this plan will best serve your needs and that the premium payable under the policy is an amount you can afford.

A free-look period of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the Company shall refund an amount equal to the sum of:

  1. the total investment values of the policy based on the Net Asset Value at the next valuation date; and
  2. the investment values of the units which have been cancelled to pay for insurance charges and policy fee; and
  3. the amount of premiums that have not been allocated; minus the expenses incurred for medical examination, if any.

Net Asset Value is the single price at which the policy owner buys the units in a unit fund and sells the units back to the unit fund.

The minimum basic premium allowable for the policy is RM1,200 a year. The premium paid is segregated into Insurance Premium and Balancer (ratio of 1:1 at new business stage and Balancer to be at least 50% of the basic premium thereafter).

In cases where the purchase involves a premium of a sizeable amount i.e. RM5,000 and more, the prospect should consider purchasing a single premium investment-linked insurance plan as single premium plans offer better allocation rates for investment. However, please take note that single premium plans may not offer as much insurance protection as regular premium plans and may have less riders/supplementary benefits available.

You may stop paying the premiums and still enjoy protection as long as there is a sufficient total investment value to pay for the insurance charges, policy fee and supplementary benefit premiums, where applicable. However, there is a possibility of the policy lapsing when the required charges, including rider charges, exceed the value of the fund units available. Purchasing too many unit-deduction riders may deplete the fund units.

Buying an investment-linked insurance plan is a long-term commitment. An early termination of the policy involves high costs and the withdrawal value is dependent on prevailing market value of the underlying assets of the unit fund. Therefore, the withdrawal value may be less than the total premiums paid. The policy value may rise or fall, based on the underlying performance of the funds. The performance of the funds is not guaranteed. The investment risk under the policy will be borne solely by the policy owner. Past actual performance is not a guide to future performance, which may be different.

Any amount of the premium that has not been allocated to purchase units is used to meet the payment of commissions to intermediaries and general expenses of the Company. The Company reserves the right, in circumstances it considers exceptional, to suspend issuance or redemption of units.

The above is for general information only. It is not a contract of insurance. You are advised to refer to the Sales Illustration, Fund Fact Sheet, Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted above are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life.

The terms "Great Eastern Life" and "the Company" shall refer to Great Eastern Life Assurance (Malaysia) Berhad.

Information correct as on 1 February 2015.

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Great Eastern Holdings Ltd | Great Eastern Life Assurance Co Ltd | Great Eastern General Insurance Ltd
Great Eastern Holdings Ltd | Great Eastern Life Assurance Co Ltd | Great Eastern General Insurance Ltd