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GREAT Term | Customisable Term Insurance

Secure your future with up to a lifetime of coverage

You have great ambitions especially when you are young and starting out in life. Having an added assurance and resilience can be invaluable in helping you to pace towards success.

With GREAT Term, you are assured of up to a lifetime of coverage against death and terminal illness. This term plan also offers the flexibility to add optional supplementary riders to cover total and permanent disability (TPD)1, and early, intermediate and / or critical stage critical illness (CI)2.

Product Summary View Product Brochure

Why you should consider this plan?

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    Affordable and customisable coverage, up to a lifetime

    Assurance from having up to a lifetime of coverage against death, terminal illness and TPD1 from as low as S$0.86* per day. You can also add optional supplementary riders to cover up to 121 CI conditions2 for greater peace of mind.

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    Flexibility to convert your policy

    Enjoy the flexibility to convert3 the term plan and its rider(s) to a life policy offering cash value in the future. This option comes in handy when your needs in life evolve over time. 

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    Secure your coverage in 10 minutes

    Fast, easy and convenient as it takes only 10 minutes to cover yourself for up to S$300,000 online, with no appointments needed.

How GREAT Term provides up to a lifetime of coverage

Great Eastern

Your questions answered

1.  What are the benefits offered under GREAT Term series?

GREAT Term is a non-participating, regular premium term plan that provides a wide range of policy terms from 6 years to up to age 100 next birthday. This plan provides basic coverage against death and terminal illness, with the flexibility to enhance your coverage through a wide range of optional riders such as for comprehensive critical illness cover from early to critical stages, according to your protection needs.

GREAT Term can be purchased through a Great Eastern Financial Representative or via direct online purchase.

2. What are the differences between a GREAT Term plan purchased through a Great Eastern Financial Representative as compared to purchased directly online?

 

    GREAT Term (via Financial Representative) GREAT Term (via direct online purchase)
Death Benefit Yes Yes
Terminal Illness Benefit Yes Yes
Total & Permanent Disability Benefit Optional Compulsory
Critical Illness (CI) Benefit Optional (covers Early, Intermediate and/or Critical stage CI benefit) No
Conversion Privilege Yes No
Sum Assured *subject to minimum annual premium of S$120 Min: S$50,000* Max: Subject to financial underwriting (in multiples of S$5,000) Min: S$100,000* Max: S$300,000 (in multiples of S$50,000)
Entry Age of Life Assured (based on age next birthday (ANB)) Minimum: 1 ANB Maximum: 75 ANB Minimum: 17ANB Maximum: 55 ANB
Plan Availability Available to First and/or Third Party Policy Available to First Party Policy only
 

3. What is Conversion Privilege?

Conversion Privilege allows policyholder to convert the GREAT Term policy (together with the supplementary rider(s) that offers this privilege, if applicable) to a life policy offering cash value, without evidence of insurability, provided that prevailing rules at the time of conversion are met.

The new life policy is to offer equivalent or similar coverage (as determined by us) as the benefits being offered under the GREAT Term policy.

This conversion privilege is not applicable to GREAT Term policy purchased directly online.


4. Can foreigners purchase GREAT Term?

Yes, foreigners can purchase GREAT Term plan via a Great Eastern Financial Representative.

Foreigners cannot purchase GREAT Term online.

 

5. What happens if you do not pay your premiums on time?

If there is no premium payment after the 30-day grace period, the policy will lapse, and the coverage will cease.

Policyholders can apply to reinstate the policy within 6 months from the policy lapse date and the usual reinstatement conditions apply.

 

6. What happens if you surrender GREAT Term early?

As this product has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely.

Buying a new policy may mean we need to reassess the life assured’s health and circumstances and may result in higher premiums and/or benefit exclusions due to the age and health status.

Let us match you with a qualified financial representative

Our financial representative will answer any questions you may have about our products and planning.

 

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Understand the details before buying

Premium rates for the Living Care Rider and Complete Living Care Rider are not guaranteed and may be adjusted based on future experience.

* Based on a 25-year-old non-smoker male (age next birthday) who purchases GREAT Term with TPD benefit, with a sum assured of S$300,000 and policy term of 40 years. The total annual premium is S$311.95, premium amount shown is divided by 365 days, rounded up to the nearest cent.

1 TPD benefit is an optional supplementary rider that can be added upon purchase through a Great Eastern Financial Representative. Otherwise, the TPD Benefit is a compulsory rider when purchased directly online.

2 These critical illness riders can be added upon purchase through a Great Eastern Financial Representative but not applicable to policy purchased directly online.

3 Conversion privilege is applicable to GREAT Term, TPD Benefit, Complete Living Care Rider and Living Care Rider. The conversion privilege enables the riders to be converted (together with the basic plan) to a new TPD benefit and / or critical stage critical illness benefit offering equivalent or similar coverage (as determined by us), without evidence of insurability, provided that prevailing rules at the time of conversion are met. This conversion privilege is not applicable to policies purchased directly online. Conversion privilege can only be exercised once, be it a full or partial conversion.

All ages specified refer to age next birthday.

Figures are subject to rounding in the illustration.

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 this product has no savings or investment feature, there is no cash value if the policy ends or is terminated prematurely.

You may wish to seek advice from a financial adviser before making a commitment to purchase this product.  If you choose not to seek advice from a financial adviser, you should consider whether this product is suitable for you.

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 the Chinese versions, the English version shall prevail.

Information correct as at 1 April 2024. 

Enhance your coverage

Check out products that supplement your coverage on top of what GREAT Term provides