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April 2023
Click below to read more.
Hear from Our Leaders
» Message from Patrick Peck, MD, Regional Agency / FA and Bancassurance
Highlights of the Quarter
» High Achievers, High Life – only at GELAC Convention 2023
Must-Knows
» Engage your customers, be a joymaker
Great Eastern Women’s Run 2023 is your opportunity to shine and do good
» Charging… charging… with boosters to up your game in our Q2 Challenge!
» Three latest Great Eastern products you must know
Good-To-Knows
» Q2 2023 Market Outlook
» Simple W-A-T-E-R saving actions to save our future
» Event calendar
From Good to Great
» Fulfilling fun: Bonding over doing good
» The game plan to plant 919 trees this year is now on
» A national record for doing good
Click here for past TGC issues.
Message from Patrick Peck, MD, Regional Agency / FA and Bancassurance
Dear Leaders and Representatives,
Three months have passed in the blink of an eye! My deep appreciation for your tremendous tenacity to carry on and push things through despite the challenging environment. Because of your perseverance, I am confident that we can stay on track to raise our performance standards in the months ahead.
For us to reach greater heights, we must constantly strive to outdo ourselves and overcome self-limiting beliefs. To achieve this, we must first acknowledge the current tough market climate and improve our readiness for battle. Success is within reach when we are united by a common purpose and passion that make us resilient in the face of adversity.
We opened a new thrilling chapter with our latest Great Eastern Life Achievers Club (GELAC) Convention in April, the first in four years due to COVID-19 travel restrictions, which saw a troop comprising more than a thousand Great Eastern representatives conquering Zurich, Switzerland. Congratulations to all the achievers – your efforts have been well recognised! For those who did not qualify, 2023 provides new opportunities for you to sell and shine. Do put up a strong showing – it can be YOU next to reap the rich fruits of your labour.
I also look forward to celebrating our achievers and strengthening our bonds at Achievers Day as well as Achievers Night in May. These high-profile and dynamic events bring us closer and act as an ideation catalyst for fresh perspectives and friendships to emerge so that we can break new ground together.
Meanwhile, need something extra to spark meaningful conversations and connections with customers/prospects? Ladies can sign up for the Great Eastern Women's Run Reach for Great Fundraising Challenge 2023 and “jio” customers/prospects to form teams together. This provides a five-month runway to seed and strengthen relationships! Whether running together or rallying them to support your team through monetary donations, it’s a not-to-be-missed opportunity for more heartfelt and authentic exchanges. Gentlemen can be the advocates and patrons behind our female participants and use the fundraiser as an essential talking point when engaging customers/prospects!
Last but not least, always remember that when the going gets tough, the tough Reach for Great and move as ONE! May everyone be blessed with good health and peace. Thank you for giving your best consistently so that we keep our lead as the industry’s epitome of excellence.
High Achievers, High Life – only at GELAC Convention 2023
The Great Eastern Life Achievers Club (GELAC) Convention this April was our first in four years, due to travel restrictions – and what a splendid party it was! We celebrated all 1,279 of you, first with 1,027 main convention attendees enjoying a 5D4N stay in Zurich, Switzerland and another 212 Voyager attendees living it up for 3D2N in Milan, Italy.
Congratulations to all qualifiers! But don’t stop here, because we have raised the stakes with new challenges and incentives. There’s a lot more to gain by staying competitive and driven. Remember, you make your own luck and Paris is beckoning in 2024.
Relive the glorious moments of this 2023 extravaganza with the following video:
Be inspired by our high achievers through their GELAC Convention thoughts and experiences.
Jean Chai (seated, first from left) having a wonderful time with agency mates.
This incentive trip is more than a reward to me. It shows what I can accomplish when I work hard, how Great Eastern is ever ready to invest in the best for its agents and people as well as the amazing opportunities that are open to us when we are prepared and motivated to push ourselves.
It was fantastic to travel once again. I deeply treasure this chance to socialise and build relationships with other agents. I'm looking forward to the 2024 Paris convention!
Jean Chai, Senior Financial Consultant, Breakthrough Advisory
It’s Benjamin Lim’s first time bringing his son overseas for a convention trip, together with wife Chelsea Tan (first from top)!
The importance of GELAC lies in the camaraderie forged. It’s also a huge pat on the shoulder! Newbies, set your goals for execution and be consistent in landing your targets to earn a coveted spot at the next convention.
I want to thank my clients for their continuous trust in me and my work. This year marks my five-year run with Great Eastern, while my wife - my greatest mentor - is celebrating her 10th year milestone. She brings out the greatness in me, and sets a fine example that through hard work and dedication, everything is possible.
Benjamin Lim, Associate Director, Pinnacle Financial Group
Karen Tay feeling top of the world on the white alps!
Switzerland has always been a bucket list location for me and being able to travel together with friends and colleagues is such an amazing experience. The most memorable part of the trip was the convention dinner held at Umwelt Arena. It was a well-planned event during which everyone let our hair down to have fun. I thank my team members and clients for their unwavering support and commitment. Aspiring attendees, it’s always important to have your goals and work towards realising them steadily. See you in Paris 2024!
Karen Tay, Executive Senior Manager, Altitude Alliance
Engage your customers, be a joymaker
Great Eastern Women’s Run 2023 is your opportunity to shine and do good
Ladies, alert! The Great Eastern Women’s Run is back on 29 October 2023. In the lead up to the race, the Reach for Great Fundraising Challenge returns from May to September. Need a strong ice breaker? Want to form closer bonds with customers and prospects? The Fundraising Challenge provides you that extra special boost for the next five months when you sign up as a fundraiser in a TEAM OF 4 (with fellow female Great Eastern financial representatives and/or with your female customers/prospects) or as an INDIVIDUAL.
By signing up, you now have an additional meaningful reason to engage your customers/prospects and start conversations with practically anyone: “Hey, want to join my posse to run for donations?” Or, “Want to hear about my run and why I’m running?” You can deepen relationships by forming teams to raise funds for a good cause.
For guys, join this fundraiser by being important advocates for teams or individuals – rally and canvass donations to support your female colleagues as they run to chalk up the dollars.
So get ready to put your best foot forward. This year, all proceeds will go to Daughters Of Tomorrow and Singapore Cancer Society. The funds will support underprivileged women in their back-to-work journey and helping cancer survivors to integrate into everyday life and to regain a strong sense of community and identity.
Participation perks
Pssssst… did you know you also stand to win free race slots and other prizes while doing good?
- Complimentary Great Eastern Women’s Run 2023 race slots for teams that raise at least $400 and individuals who raise at least $100 by 31 July. This minimum amount can be accumulated through a customised donation link as well as through distance clocked.
- Prizes for the top 5 Teams and top 5 Individuals
Here’s a quick snapshot of how to sign up:
Slots are limited! Scan the QR code below or click on the link HERE to sign up now.
- Till 30 June 2023: The Charge Up Challenge focuses on RP Life protection, and enables you to activate your incentive tier with a chance to earn up to $10,000! But that's not all. Our exclusive Fast Start April offer for GELAC Zurich Qualifiers lets you earn an additional $1,000 on top of the main challenge.
- Till 31 July 2023: The popular Accident & Health (A&H) Challenge returns. This time, we're taking you to the vibrant city of Seoul, South Korea! And to make it even more exciting, you stand a chance to win either $300 or $1,000 in spending cash by qualifying for either of the two incentive tiers.
Annyeonghaseyo, Agency Managers and Directors! You too can reap the rewards by encouraging 4 or 8 Producers, respectively, to qualify for the challenges.
- Till 22 May 2023: Given the fast and furious responses to the “Together As One” and “Back for Scratch” Challenge in Q1, we are bringing back this activity challenge, now incarnated as the Peel ‘N’ Win Challenge. Every eligible case entitles you to a Peel ‘N’ Win card with attractive prizes ranging from $18 to $1,888.
So, boot up and charge towards your Q2 targets to enjoy fantastic rewards! For more information, please refer to the following notices:
008/23/ABD/Q22023CHARGEUPCHALLENGE
009/23/ABD/Q22023A&HCHALLENGE
010/23/ABD/Q22023PEELNWINCHALLENGE
Three latest Great Eastern products you must know
Here are the key highlights of three products you shouldn’t miss in Q2
1. GREAT SupremeHealth & GREAT TotalCare
Under our Integrated Shield and Supplementary Plans, our cancer drug list (CDL) coverage for both cancer drugs and services is the best in the Singapore market for providing greater value and support to customers.
The new outpatient cancer drug benefits under our GREAT TotalCare are as follows:
Also important to note are key non-cancer enhancements:
- Congenital Abnormalities of the Life Assured – As-charged coverage from day 1.
- Physical, Speech and Occupational Therapy – Embedded under pre-hospitalisation benefit with as-charged coverage.
2. GREAT Wealth Advantage 3 (with GreatLink US Income and Growth Fund)
The enhanced GREAT Wealth Advantage 3 provides more options to our customers with Choice 5, 10 and 15:
- Transfer of life option - Customers can choose to gift the policy to their loved ones.
- Reduced minimum monthly investment amount - just $100 for Choice 15!
- Regular income stream – this is made possible by onboarding the popular dividend-paying GreatLink US Income and Growth Fund.
3. GREAT Flexi Cashback
The well-received GREAT Flexi Cashback returns, with three limited premium options of 10, 15 and 20 years and corresponding policy terms of 15, 20 and 25 years!
With guaranteed annual cash payouts from the end of 2nd policy year, customers can enjoy occasional treats and the little pleasures in life, while the lump sum payout upon maturity will help them meet their long-term goals.
In addition, customers will be covered against Death, Total & Permanent Disability and Terminal Illness at 105% of premiums paid.
Please refer to the website and product brochures for full details:
Q2 2023 Market Outlook
Global economic growth has tapered off and is expected to slow down due to rate hikes and financial sector turbulence. Although inflation is anticipated to decelerate, its pace remains uncertain. The major central banks are nearing the end of their tightening cycles, yet a quick reversal of current inflation levels is unlikely unless the banking sector falls into deep distress. While the relief rally in global equity markets could continue over the next few months, tight financial conditions, elevated inflation, uninspiring earnings growth, and potential recession may limit upside potential. Investors should remain neutral on risk assets and weigh risks as well as opportunities.
This quarter, we recommend shifting global equities to a 'neutral' position. The outlook for global equities is hazy due to geopolitical realignment, tighter financial conditions, and the potential for a recession. Sticky inflation and an ongoing earnings downgrade cycle may also curtail growth potential. In the near term, equity markets are expected to remain range-bound.
Similarly, we also recommend ‘neutral’ in global bonds. Fixed income remains crucial for investors. Caution is advised due to credit downgrades and maturity walls in high-yield, and corporate investment grade credit spreads have not fully reflected the potential risks. While vulnerabilities in high-yield credits are fewer than usual, spreads may widen with faltering growth. Diversifying portfolios is one way to find opportunities.
Simple W-A-T-E-R saving actions to save our future
In Singapore, clean drinking water is readily available with just a turn of the tap, so it’s easy to forget that water remains a scarce resource in many parts of the world. Erratic rainfalls brought about by climate change only exacerbates this lack.
With Singapore’s water demand expected to almost double by 2065, the amount of energy required to treat and produce water is likely to quadruple. If we do not have a more thoughtful and conscientious approach towards water usage and conservation, this would lead to a corresponding increase in our carbon footprint.
We can help ensure a sustainable water supply for future generations by consuming and using water responsibly in our daily lives. Make every drop count with the simple W-A-T-E-R saving actions below!
This is the third in a four-part series on sustainability. Learn about how you can reduce your carbon footprint by choosing local produce in the next issue!
Fulfilling fun: Bonding over doing good
Director Fabian Chan and eight financial representatives from Credence Group kept Singapore waters clean by participating in the Paddle ‘N’ Klean Challenge held yearly by PAssion WaVe. In March, they paddled for 16km and cleaned part of Singapore River and Kallang Basin by removing litter that comprised glass bottles, plastic items and even shoes from the river.
Fabian is proud of his team for their dedication, unity and passion – they went beyond concern for their careers and were willing to contribute meaningfully to society as well. In this case, it’s protecting the environment by greening Singapore – and every effort counts!
The game plan to plant 919 trees this year is now on
Our financial representatives are working hard to continue Great Eastern’s tree-planting legacy.
Some 152 of our financial representatives and colleagues planted 200 trees along Petir Road and Bedok Reservoir Park over two days in February and March. Great Eastern Financial Advisers CEO Jesslyn Tan kickstarted both sessions by speaking on the benefits of having more trees and greenery.
This is part of the 1,429 trees Great Eastern has committed to planting in support of the #OneMillionTrees project by National Parks Board to nurture and restore nature in urbanised Singapore. Under this project, 510 trees planted in the last two years.
Do join us in our upcoming tree planting events to protect the environment!
A national record for doing good
During the Great Eastern Takaful Berhad (“GETB”) Agency Sales Kick Off in January, the agency set a new national record by building the largest sand turtle sculpture in Malaysia with active participation from 1,200 financial representatives. The sculpture’s size of 8.8-metre length and 6.4-metre width was officially recognised in the Malaysia Book of Records.
This innovative initiative successfully raised both agent and public awareness on plastic contamination in the ocean and the impact to marine wildlife
GETB CEO Shahrul Azlan Shahriman also briefed the representatives on the plastic pollution problem and demonstrated how to use a plastic recycle machine that GETB has invested in to walk the talk. The machine recycles plastic waste into pellets which could be used to produce new plastic products for use such as combs, rulers, bag clips and soap containers.
