GREAT Wealth Advantage
GREAT Wealth Advantage 3 | Regular Premium Investment-linked Plan
Power up your investment portfolio on your terms
Getting ahead in life with your wealth goals can be daunting without an investment plan in place. With a smarter investment strategy to grow your wealth on your terms, achieving your wealth goals comes with complete ease.
GREAT Wealth Advantage 3, a regular premium investment-linked plan, helps you achieve your wealth goals in a simple, customisable way — investing regularly to build wealth towards your financial goals, and having a choice to pass on your legacy to your loved ones.
Get greater value on your investment with 100% of your premium invested from day one, plus up to 55% Welcome Bonus1 as well as Loyalty Bonus2 in the form of extra units. Plus, you will be protected against Death3, Total and Permanent Disability4 and Terminal Illness.
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Key benefits
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Boost your investment with up to 55% Welcome Bonus1
Kickstart your investment journey by enjoying up to 55% Welcome Bonus1 for the first policy year. What’s more, get further rewarded with Loyalty Bonus2 every year when you continue making regular investments.
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Freedom to build your wealth the way you want
Customise your journey with a choice of 3 different investment plans (Choice 5, Choice 10 or Choice 15), to suit your goals and cash flow commitment.
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Stay in control with a suite of diverse funds
Invest with confidence as our professional fund managers have curated a range of diverse funds for you — including dividend paying funds5. So whatever your risk appetite, there’s something for you to build your investment strategy towards your goals.
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Grow your legacy for the next generation
Enjoy the flexibility to transfer your policy ownership or change the life assured6 to your loved ones, so that your investment can continue to grow and support their future.
Your questions answered
1. What is GREAT Wealth Advantage 3?
GREAT Wealth Advantage 3 is a regular premium investment-linked plan (ILP) designed to meet your wealth accumulation needs. This plan also gives you access to professionally managed ILP sub-funds.
From day one, 100% of the basic regular premium which you pay will be used to create units in the funds and the value of the policy will vary directly with the performance of the funds.
2. What is the coverage under GREAT Wealth Advantage 3?
GREAT Wealth Advantage 3 provides you with financial protection against death, total and permanent disability (TPD) and terminal illness.
3. How would I receive the Welcome Bonus?
Upon the receipt of each basic regular premium payable for the first policy year, we will pay a Welcome Bonus depending on the plan you have chosen (Choice 5, Choice 10 or Choice 15). The Welcome Bonus will then be added to the policy in the form of extra units.
We will stop paying any Welcome Bonus if the policy is on premium holiday. We will resume paying the Welcome Bonus when you resume paying the basic regular premium payable for the first policy year.
| Where the Annual Premium7 for the 1st policy year is | Percentage of each payment of basic regular premium for the 1st policy year to be paid as Welcome Bonus | ||
| GREAT Wealth Advantage 3 - Choice 5 | GREAT Wealth Advantage 3 - Choice 10 | GREAT Wealth Advantage 3 - Choice 15 | |
| S$1,200 to S$2,399.99 | Not Applicable | Not Applicable | 7.5% |
| S$2,400 to S$3,599.99 | Not Applicable | 5% | 15% |
| S$3,600 to S$5,999.99 | Not Applicable | 10% | 25% |
| S$6,000 to S$11,999.99 | 15% | 20% | 30% |
| S$12,000 and above | 30% | 40% | 55% |
7 “Annual Premium” refers to the total amount of basic regular premium(s) payable by the policyholder for a policy year based on annual premium frequency.
4. How would I receive the Loyalty Bonus?
We will on an annual basis pay a Loyalty Bonus at the end of the policy year depending on the plan you have chosen (Choice 5, Choice 10 or Choice 15), as set out in the table below, provided that all basic regular premium payable is paid up to date and there are no withdrawals during that policy year. The Loyalty Bonus will then be added to the policy in the form of extra units.
| Plan | Loyalty Bonus to be paid annually from the end of the | Percentage of account value of the policy to be paid as Loyalty Bonus |
| GREAT Wealth Advantage 3 – Choice 5 | 5th policy year | 0.20% |
| GREAT Wealth Advantage 3 – Choice 10 | 10th policy year | 0.30% |
| GREAT Wealth Advantage 3 – Choice 15 | 15th policy year | 0.30% |
5. What are the funds available under GREAT Wealth Advantage 3?
You can choose to invest in one or more of the GreatLink Funds. For the full list of funds available for your policy, you can refer to our website. Details of each fund can be found in their respective fund documents, which will explain the risk that is specific to each 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.
6. What happens if you surrender the policy early?
If you surrender your policy after the 14-day free-look period, you may lose part or all of the premiums paid. This is because the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
7. What happens if you do not pay your premiums on time?
If you do not pay your premiums on time, your policy may lapse (after 30 days grace period) depending on the account value. If the policy has enough account value, your policy will be on premium holiday and fees and charges due will continue to be deducted from the account value. If the account value is insufficient, the policy lapses. There will be no protection if your policy lapses.
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Understand the details before buying
1 The Welcome Bonus varies according to your choice of plans and the basic regular premium payable on an annual basis. 55% Welcome Bonus is applicable to GREAT Wealth Advantage 3 – Choice 15, with a minimum annual basic regular premium of S$12,000. The Welcome Bonus is payable in the form of extra units, upon receipt of each basic regular premium payable for the first policy year. It will not be paid while the policy is on premium holiday. Single premium top-ups are not applicable for Welcome Bonus.
2 The Loyalty Bonus varies according to your choice of plans. For GREAT Wealth Advantage 3 – Choice 5, the Loyalty Bonus payable annually from the end of the 5th policy year onwards is equal to 0.20% of the account value as at the end of the policy year. For GREAT Wealth Advantage 3 – Choice 10, the Loyalty Bonus payable annually from the end of the 10th policy year onwards is equal to 0.30% of the account value as at the end of the policy year. For GREAT Wealth Advantage 3 – Choice 15, the Loyalty Bonus payable annually from the end of the 15th policy year onwards is equal to 0.30% of the account value as at the end of the policy year. The Loyalty Bonus will be paid annually in the form of extra units. Payment of the Loyalty Bonus for each policy year is subject to all the basic regular premium being paid up to date and there are no withdrawals made in that policy year that the Loyalty Bonus is being paid for. Please refer to the product summary for more details.
3 The Death Benefit will be payable in one lump sum as follows, if the life assured dies:
a) 105% of total basic regular premiums paid plus 105% of total single premium top-ups paid (if any), less 105% of total withdrawals (if any, including any withdrawal charges); or
b) the account value,
whichever is higher.
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.
4 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 TPD definitions.
5 The payment of dividends may reduce the net asset value of the fund which is used to calculate the fund value and the benefits payable under your policy. The dividend rate and frequency varies according to the chosen dividend paying funds. The dividend distributions are not guaranteed and are determined by the relevant fund manager in its absolute discretion.
6 You may request for a change in the life assured from the second policy year onwards while the policy is in force, up to two times during the policy term. Please refer to the product summary for more details.
^ At an IIRR of 4% p.a., the illustrated potential monthly dividend income is 4% p.a..
§ At an IIRR of 4% p.a., the illustrated total monthly dividends received in a year for end of policy year 1 is S$6,117, year 2 is S$9,878, year 3 is S$13,525, year 4 is S$17,061, year 5 is S$20,489, year 6 is S$23,814, year 7 is S$27,037, year 8 is S$30,162, year 9 is S$33,192, year 10 is S$36,131, year 11 is S$38,979, year 12 is S$41,742, year 13 is S$44,420, year 14 is S$47,017, year 15 is S$49,535, year 16 is S$52,374, year 17 is S$55,362, year 18 is S$58,294, year 19 is S$61,171, and year 20 is S$63,994.
‡ At an IIRR of 4% p.a., the Loyalty Bonus at age 60 is S$3,650.
¶ At an IIRR of 4% p.a., the illustrated potential monthly dividend income received by Mr. Lim is 4% p.a.. Illustrated total monthly dividend income received by Mr. Lim at age 65 is S$730,294 (0.36x of total premiums paid), total surrender value received by Adam is S$1,583,339 (0.79x of total premiums paid) and total illustrated benefits at age 65 is S$2,313,633 (1.15x of total premiums paid).
All figures in the above illustrations are based on the IIRR of 8% p.a. and a fund management charge of 1.50% p.a., and are subject to rounding.
The two rates of return used (4% p.a. and 8% p.a.) are purely illustrative and do not represent upper and lower 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 the Chinese versions, the English version shall prevail.
Information correct as at 28 April 2023.
