Great Eastern unveils two first-in-market solutions to address caregiving pressures and long-term wealth planning
SINGAPORE, 25 JULY 2025 – Great Eastern today introduced two new solutions, designed to address the evolving protection and wealth accumulation needs of its customers in Singapore. These plans are tailored to support Singaporeans through distinct life stages – from caregiving to long-term wealth building.
GREAT Life Multiplier – Protection that grows with life’s responsibilities
A first-in-market whole-life plan designed for the sandwich generation – adults juggling the dual responsibilities of aging parents and growing children - GREAT Life Multiplier offers affordable, comprehensive and multi-generational coverage that addresses life’s changing demands.
Recognising the pressures this customer segment faces, the plan provides a holistic, one-stop solution to protect not just the policyholder, but also their children and elderly parents.
The base plan offers lifelong protection against death, terminal illness, and total and permanent disability, with the option to multiply coverage by up to 10 times during key financial years. In addition, customers can choose to enhance protection with a critical illness rider called the Parent Care Rider.
One of the unique features of the Parent Care Rider is that it provides late-stage critical illness coverage for parents against conditions such as severe dementia, Alzheimer's, Parkinson’s and major head trauma, up to age 100. It requires no underwriting or information of the parent upon the point of purchase. This allows policy holders to purchase the plan independently for their parents, offering peace of mind without the need for their parents to take action themselves. By allowing individuals to proactively secure coverage for their parents, the new rider provides caregivers with greater support when they need it the most.
The launch of this product is timely, given that by 2030, an estimated one in four Singaporeans will be aged 65 and above, with approximately 100,000 seniors expected to require assistance with at least one activity of daily living.
For young parents, GREAT Life Multiplier serves as a protection plan for their children, and it evolves as the child grows. Upon reaching 18 years of age, the ownership of the policy can be transferred to the child, providing them lifelong protection and flexible access to accumulated cash value that can be used when needed.
Greg Hingston, Group Chief Executive Officer, Great Eastern said: “We recognised that the market lacked a single affordable solution that could address the pain points of young professionals and mid-career adults, many of whom are juggling the dual responsibility of caring for their parents while building a future for their children.”
“GREAT Life Multiplier delivers enhanced life protection that scales over time, helping families stay resilient as financial responsibilities increase. It was conceptualised based on feedback from our customers, gathered by our financial representatives who walk alongside them through every stage of life. This customer-centric approach helped us understand our customers’ evolving needs and design products that benefit them for generations to come,” he added.
GREAT Index Income – Capital Guaranteed, Wealth Accumulation for the Discerning Investor
Catering to Singaporeans looking to build long-term wealth, GREAT Index Income is a capital guaranteed, single premium non-participating endowment plan with yearly payouts linked to the UBS Multi Asset Engle SGD Index. Annual payouts can be withdrawn or reinvested. The plan also includes death and accidental death coverage, all with no medical assessment required.
With a minimum investment of SGD 50,000, GREAT Index Income is geared towards the needs of mass-affluent Singaporeans – including those aged 55 and above who may be considering investment options for their CPF withdrawals or savings and are seeking diversified growth amid modest interest rates.
“In today’s environment of moderate returns, customers need solutions that help them build wealth with confidence and security,” added Mr Hingston. “GREAT Index Income does precisely that, offering capital protection with upside potential and flexibility, giving policyholders peace of mind.”
These two market-first offerings underscore Great Eastern’s commitment to innovation and its customer-first approach in addressing the real-life challenges and aspirations of Singaporeans.
About Great Eastern
Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16.5 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei.
The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength ratings of "AA" by Fitch Ratings and "AA-" by S&P Global Ratings, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia.
Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
For more information, please contact:
Pamela Pung / Sharan Nanwani
Group Corporate Communications
Email: Corpcomms-sg@greateasternlife.com
Krittika Venkatesh / Sim Bao Zi
Edelman Singapore
Email: greateastern@edelman.com