GREAT Life Advantage 4
GREAT Life Advantage 4 | Life Insurance with Add-on Critical Illness Coverage
Whole life coverage with add-on critical illness protection in one flexible plan
In today’s fast-paced world, securing your financial future should be simple. GREAT Life Advantage 4 offers a comprehensive protection solution with whole life coverage and optional critical illness protection in one plan.
Tailored for dynamic individuals like you, this whole of life, regular premium investment-linked plan provides lifetime protection against Death1, Total and Permanent Disability2 and Terminal Illness. You can enhance your coverage with optional riders that offer extra financial support against critical illness at early, intermediate and critical stages. Additionally, you have the flexibility to customise your coverage to align with your changing priorities.
With affordable premiums, rest assured that you’re well protected while enjoying the financial freedom to pursue your dreams at every stage of life.
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Key benefits
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Well-rounded protection at great value
Secure whole life coverage from just S$100* a month, customisable to fit your budget and needs. Complement it with a wide range of optional riders, including coverage for early, intermediate and critical stage critical illnesses, to create a comprehensive protection solution.
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Flexible coverage that evolves with life’s milestones
Whether it’s saying “I do” or welcoming a new family member, you can increase your coverage at any of the eight life’s milestone events3—all without the hassle of a medical assessment.
Plus, enjoy the flexibility to make single premium top-ups4 to your policy and partial withdrawals5 whenever needed, keeping your plan in tune with your evolving needs.
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Guaranteed protection for the first 10 years6
Rest easy knowing you’ll be protected by the coverage you’ve chosen for the first 10 years6 of your policy, providing you with greater assurance regardless of investment performance.
Child Cover Benefit
Your child, and any future children, are automatically covered under your plan with the Child Cover Benefit7 which provides a S$20,000 payout if your child encounters a major life-impacting event7. This strengthens the financial support you need for what matters most.
How GREAT Life Advantage 4 and GREAT CI Advantage Plus rider offer whole of life and critical illness protection
Your questions answered
GREAT Life Advantage 4 is a regular premium whole of life investment-linked insurance plan designed to meet your protection needs.
It provides financial protection against Death, Total and Permanent Disability (TPD) and Terminal Illness (TI).
This plan also provides child cover benefit that pays S$20,000 in a lump sum when a child of the life assured dies, suffers from TPD or is diagnosed with TI.
Subject to terms and conditions, the GISA option allows the life assured to increase the basic sum assured of the policy without medical underwriting upon the occurrence of any of the following 8 milestone events before the policy anniversary on which the life assured is age 60 next birthday:
1) on the 3rd policy anniversary;
2) when the life assured attains the age of 21;
3) when the life assured enters full time employment after graduation from a tertiary institution;
4) when the life assured completes a full marathon or triathlon;
5) when the life assured gets married;
6) when the life assured welcomes a newborn;
7) when the life assured legally adopts a child; or
8) when the life assured’s child enters primary school or secondary school or university (or equivalent educational institution on a full-time basis) before age 21.
Please refer to the policy contract for all the terms and conditions relating to this option.
The NLG benefit ensures your policy and the attaching riders (if any) do not lapse even if the account value falls to zero or below during the first 10 policy years provided that the following conditions are met:
(a) all basic regular premiums and premiums for cash-paying riders (if any) are paid before the expiry of their respective grace periods; and
(b) no partial withdrawal of the account value of your policy has been made.
The NLG benefit will cease if any or both of the above conditions are not fulfilled.
When the non-lapse guarantee benefit is in effect, we will continue to deduct from the account value, fees and charges of the policy and insurance charges of any unit-deducting rider which will be considered as debts owed to us. We will first deduct any debts owed to us from the account value when it becomes positive.
When the non-lapse guarantee benefit ceases and the account value is insufficient to pay the debts owed to us, we will deduct the remaining amount of the account value and the policy and any attaching riders will lapse.
Please refer to the policy contract for all the terms and conditions relating to this benefit.
You may attach one or more unit-deducting rider(s) (UDR) to your GREAT Life Advantage 4 policy to enhance the protection coverage. A UDR does not require additional premium to be payable on top of the basic regular premium.
Here is the list of optional UDRs offered for GREAT Life Advantage 4:
UDRs that offer additional benefits for critical illness:
(a) GREAT CI Advantage Rider
(b) GREAT CI Advantage Plus Rider
UDRs that waive the premium of the policy for specified covered medical conditions:
(c) GREAT Premium Waiver Advantage Rider (CriticalCare)
(d) GREAT Payer Advantage Rider
(e) GREAT Payer Advantage Rider (CriticalCare)
Other than UDRs, cash-paying rider(s) (CPR) may also be attachable to GREAT Life Advantage 4 for a more comprehensive coverage. A CPR requires additional premium to be payable on top of the basic regular premium.
Below is the list of optional CPRs offered for GREAT Life Advantage 4:
CPRs that offer disability benefit:
(f) LifeSecure Rider
(g) PayAssure Rider
CPRs that offer personal accident benefit:
(h) AccidentCare Plus II Rider
(i) Essential Protector Plus Rider (Provision)
Please note that the riders offered for GREAT Life Advantage 4 may be subject to change from time to time.
You may invest in one or more of the GreatLink Funds that do not pay dividends. For a list of the available funds, please visit our website.
Details of each fund can be found in their respective fund document, which will explain the risk that is specific to the fund.
The following documents are also made available for you to better understand each fund:
- Prospectus/Fund Details/Fund Summary (where applicable);
- Product Highlights Sheet (PHS);
- Provider’s Factsheet;
- Semi-annual and Annual Reports; and
- Performance charts.
Please note that every fund or combination of funds has its own investment objectives, horizon, liquidity, and level of risk. You are advised to select fund(s) that match your risk profile, needs and preferences.
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Understand the details before buying
1 The Death Benefit will be payable in one lump sum as follows and the policy will be terminated, if the life assured dies:
(a) basic sum assured plus total single premium top-ups paid (if any), less total amount of partial withdrawals (if any), including any partial withdrawal charges; or
(b) the account value,
whichever is higher, less any debt owed under the policy.
If the life assured is diagnosed with a Terminal Illness or Total and Permanent Disability (TPD), the Death Benefit will be paid in one lump sum and the policy will be terminated.
2 For TPD that takes the form of total and irrecoverable loss of the sight in both eyes; the use of two limbs at or above the wrist or ankle; or the sight in one eye and the use of one limb at or above the wrist or ankle, coverage will be for the whole of the policy term. For other forms of TPD, it must occur before the policy anniversary on which the life assured is age 65. You are advised to refer to the policy contract for more details on the definition of TPD.
3 Subject to a maximum increase in the basic sum assured of S$100,000 or 50% of the basic sum assured as at the commencement date of the policy, whichever is lower, for each exercise of this option to adjust your coverage. Other terms and conditions apply. The basic regular premiums payable may be revised upon increasing the basic sum assured.
4 Subject to terms and conditions. You may make single premium top-ups to the policy provided that:
(a) the single premium top-up is made after the inception of the policy; and
(b) all basic regular premiums for the base plan and premiums for attaching cash-paying riders (if any) which are due are paid up to date.
5 Subject to terms and conditions. You may make a partial withdrawal from the account value of the policy at any time provided the account value of the policy is positive. We may deduct a partial withdrawal charge from the amount to be withdrawn depending on the policy year during which the partial withdrawal occurs. Do note that with partial withdrawal(s), there is potential risk that the account value may not be sufficient to cover the relevant charges, thereby causing the policy to lapse. Please refer to the policy contract for further details.
6 The Non-Lapse Guarantee Benefit will be applicable during the first 10 policy years from the commencement date of the policy. During this period, the policy and its attaching rider(s) will not lapse, even if the account value falls to zero or below, provided that all basic regular premiums for the base plan and premiums for cash-paying riders (if any) are paid before the expiry of their respective grace periods and no partial withdrawals have been made from the policy. When the Non-Lapse Guarantee Benefit is in effect, we will continue to deduct from the account value, fees and charges of the policy and insurance charges of any unit-deducting rider which will be considered as debts owed to us. We will first deduct any debts owed to us from the account value when it becomes positive. Please refer to the policy contract for further details.
7 Subject to terms and conditions. Child Cover Benefit covers children of the life assured up to age 18 only. Child Cover Benefit pays a lump sum of S$20,000 if the child of the life assured suffers from TPD, or is diagnosed with terminal illness, or passes away while the policy is in force. The maximum amount payable for this benefit is capped at S$20,000 per child. Please refer to the policy contract for further details.
* Premium is based on age 25 female, non-smoker, who purchases GREAT Life Advantage 4 with GREAT CI Advantage Plus rider at sum assured of S$100,000 and S$50,000 respectively and with fund management charge of 1.25% p.a..
All figures in the above illustration are based on an Illustrated Investment Rate of Return (IIRR) of 8% p.a. and a fund management charge of 1.25% p.a., and are subject to rounding.
Based on an IIRR of 4% p.a.:
# The death benefit payable at age 70 is S$90,000.
† The total payouts received by age 70 would be S$150,000.
The two rates of return used (4% p.a. and 8% p.a.) are purely illustrative and do not represent lower and upper limits on the investment performance. The actual benefits payable will depend on the actual performance of the underlying assets of the funds. The performance of the funds is not guaranteed and the surrender value may be less than the total premiums paid.
All ages specified refer to age next birthday.
All figures used are for illustrative purposes only and are subject to rounding.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
The above is for general information only. It is not a contract of insurance. The precise terms and conditions of this insurance plan are specified in the policy contract.
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.
Investments in this plan are subject to investment risks including the possible loss of the principal amount invested. Please refer to Fund Details and Product Highlights Sheet for the specific risks of the fund(s). Past performance is not necessarily indicative of future performance.
A Product Summary and a Product Highlights Sheet in relation to the fund(s) may be obtained through The Great Eastern Life Assurance Company Limited or its financial representatives. Potential investors should read the Product Summary and the Product Highlights Sheet before deciding whether to invest in the fund(s). Returns on the units of the fund(s) are not guaranteed. The value of the units in the fund(s) and the income accruing to the units, if any, may fall or rise.
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).
In case of discrepancy between the English and Chinese versions, the English version shall prevail.
Information correct as at 11 December 2024.
