GREAT SP USD | US Dollar Single Premium

GREAT SP USD is a non-participating single premium endowment plan denominated in US dollars with a 36-month policy term. It provides financial protection against death and total and permanent disability until the end of the policy term. It also pays a maturity benefit at the end of the policy term.

This plan pays a guaranteed survival benefit of 3.38% of the single premium at the end of the 12^th, 24^th, and 36^th policy month.

The objective of the plan is to provide stable returns together with insurance protection.

GREAT SP USD provides you with financial protection against death and total and permanent disability (TPD)¹.

We will pay the following if the life assured dies during the term of the policy:
(a) 105% of the single premium; or
(b) the surrender value of the policy,
whichever is higher, less any indebtedness under the policy.

We will pay the death benefit in one lump sum, if the life assured suffers from TPD¹ during the term of the policy.

¹ For TPD that takes the form of total and irrecoverable loss of the: (a) sight in both eyes; (b) use of two limbs at or above the wrist or ankle; or (c) sight in one eye and the use of one limb at or above the wrist or ankle, the life assured will be covered 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 65 age next birthday. You are advised to refer to the product summary for more details.

We will pay a guaranteed survival benefit of 3.38% of the single premium on the survival of the life assured at the end of the 12th, 24th, and 36th policy month.

We will pay a maturity benefit of an amount equal to 100% of the single premium when the policy matures, if the life assured is still surviving at the end of the policy term.

For example, if your GREAT SP USD policy’s single premium is US$100,000, you will receive US$3,380 three times over the term of the policy which will be at the end of the 12th, 24th, and 36th policy month. You will also receive US$100,000 at the end of the policy term. At the end of 36 months, the total guaranteed payout that you will receive will be US$110,140.

Yes. You have the choice to receive your survival benefit paid out to you, or to accumulate your survival benefit with us to earn non-guaranteed interest until the end of your policy term. Please note that the rate of the non-guaranteed interest is subject to change without prior notice.

GREAT SP USD’s maximum entry age of the life assured is 75 age next birthday. 

We have included fees and charges when working out the premium and you will not be separately charged for these. However, if any payments to be made under the policy, such as premiums, benefits, claims, refunds, or surrender values, will incur any fees or charges associated with making such payments, including but not limited to, bank or remittance fees and charges, you will be required to bear all such fees and charges. 

If you surrender your policy after the 14-day free-look period, you may lose part of the premiums paid. This is because the surrender value, if any, that is payable to you may be less than the total premiums paid.

The surrender value you will receive is reflected in your policy illustration.

As GREAT SP USD is denominated in US dollars, you should be aware that if the US dollar is not your home currency, you will be exposed to foreign exchange volatility risks between the time you purchase the policy to the time the policy benefits are payable. You must therefore recognise and accept this foreign exchange exposure.

For more details on GREAT SP USD, please refer to the product summary of the plan. Alternatively, you may also speak to your financial representative or call us at 1800 248 2888 (weekdays 9.00am to 5.30pm).
 

The acceptable payment methods are via telegraphic transfer or cheque in US dollars.