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GREAT Term | Customisable Term Insurance

Secure your future with a customisable, affordable term plan

You have great ambitions, especially when you are young and starting out in life. But unforeseen events may disrupt your aspirations. To ensure you have the financial support to let you stay on track throughout your life’s milestones, it is essential to have a protection plan that can be customised to meet your evolving needs.

That’s why GREAT Term, a regular premium, non-participating term insurance is designed to provide you with the added financial security to pace towards success.

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Why GREAT Term

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    Customise the duration of your coverage to suit your needs

    You can customise the duration of your coverage from a 6-year-term, to up to age 85. With a regular premium level term plan, your premiums remain constant throughout your policy term. This allows you to secure your future financial plan with greater confidence.

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    Affordable premiums coupled with comprehensive coverage

    From as low as S$0.62* a day, you can be protected against death and terminal illness. Enjoy the flexibility to add optional supplementary riders to cover total and permanent disability, early, intermediate and / or critical stage critical illness, and accident. Further, take comfort by adding our premium waiver riders to free up financial concerns over managing premiums upon diagnosis of a covered condition.

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    Flexibility to convert your policy

    As your needs evolve into different phases of life, you have the flexibility to convert1 your term plan and its rider(s) to a life policy offering cash value in the future, without the need to undergo medical examination. This allows you to adjust your coverage to suit your changing needs at different life stages, without disrupting your protection levels.

How GREAT Term can be customised to suit your needs

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 85 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 total and permanent disability, early, intermediate and/or critical stage critical illness, accident and premium waivers, according to your protection needs.

GREAT Term can be purchased through a Great Eastern Financial Representative.

 

2. 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 Basic Sum Assured of the new converted policy must not exceed the Basic Sum Assured of the GREAT Term policy at the date of conversion.

 

3. Can foreigners purchase GREAT Term?

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

 

4. 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.

 

5. 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.

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Understand the details before buying

* Based on a 25 years old, female non-smoker who purchases GREAT Term with a sum assured of S$300,000 and policy term of up to age 65. The total annual premium is S$226.50, premium amount shown is divided by 365 days, rounded to the nearest cent.

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

Subject to terms and conditions, conversion privilege is applicable to GREAT Term, TPD Benefit, Living Care Rider and Complete Living Care Rider. The Basic Sum Assured of the new converted policy must not exceed the Basic Sum Assured of the GREAT Term policy at the date of conversion. Conversion privilege can only be exercised once, be it a full or partial conversion, and not later than the policy anniversary on which the life assured’s next birthday is 70 years old. Please refer to policy contract for the precise terms and conditions.

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. 

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 14 January 2025. 

Enhance your coverage

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