GREAT Wealth Advantage Welcome Bonus Campaign 2022: (“Promotion”) Terms and Conditions
1. This Promotion is open to policyholders who have submitted an application and purchased a GREAT Wealth Advantage 2 (Full-pay) plan (“Qualifying Plan”) from The Great Eastern Life Assurance Company Limited (“GELS”) between 1st of August 2022 to 30th of September 2022 (both dates inclusive).
2. An additional Welcome Bonus of up to 20% of the first year’s premium, available to all premium payment frequencies, will be awarded in the form of extra units apportioned in the fund(s) selected by the customer based on the customer’s latest premium apportionment instructions (“Campaign Welcome Bonus”). This is in addition to the Qualifying Plan’s existing welcome bonus of extra units awarded for premiums paid for the first policy year, as set out below:
| Qualifying Annual Premium^ | Current Welcome Bonus | Additional Campaign Welcome Bonus | Total Welcome Bonus |
|---|---|---|---|
| 2,400 - $5,999.99 | 10% | 5% | 15% |
| $6,000 - $11,999.9 | 10% | 7.5% | 17.5% |
| $12,000 - $17,999.99 | 40% | 10% | 50% |
| $18,000 and above | 40% | 20% | 60% |
3. To be eligible for the Promotion, the application has to fulfill the following qualifying criteria (“Qualifying Criteria”):* Qualifying Annual Premium refers to the annual mode premium reflected in the Policy Illustration, excluding attaching cash-paying riders, which are not eligible for this consumer promotion.
| Qualifying Plan | Minimum Qualifying Annual Premium* | New Business Submission period | Policy Inforce Date |
|---|---|---|---|
GREAT Wealth Advantage 2 (Full-pay) |
$2,400 and above | 1 August 2022 - 30 september 2022 (both dates inclusive) |
31 October 2022 |
4. The Campaign Welcome Bonus is not applicable to any premiums received for optional supplementary benefits and/or any ad hoc top-ups.
5. The Campaign Welcome Bonus is not transferrable or exchangeable for cash (with the exception of the sole purpose of purchasing and selling of units within the Qualifying Plan), credit or any other goods and services.
6. GELS reserves the right to recover or adjust the amount equivalent to the Campaign Welcome Bonus in any manner at its sole discretion in any of the following events:
a) Campaign Welcome Bonus has been credited but any of the qualifying criteria has not been met; or
b) Policy is cancelled during the free-look period; or
c) If the life assured dies due to a pre-existing condition within one (1) year from the date of issue or the date of any reinstatement of the policy; or
d) If the life assured dies by suicide, while sane or insane, within one (1) year from the Date of Issue of this Policy or from the date of any reinstatement of the policy; or
e) If the policy is terminated due to any misrepresentation or non-disclosure of material facts.
7. This Promotion is not valid with any other offers or promotions (including where premium vouchers are utilised for payment of premiums) held by GELS, unless otherwise specified by GELS.
8. GELS reserves the right to vary the terms and conditions or withdraw this Promotion at any time without prior notice. The decision of GELS on all matters relating to this Promotion shall be final and binding on all customers.
9. Notwithstanding anything herein, GELS has the absolute discretion to determine the eligibility of any person to participate in the Promotion. If GELS subsequently determines that a person is in fact not eligible, for any reason whatsoever, GELS may at its discretion, disqualify the participant and clawback/cancel the Campaign Welcome Bonus without prior notice.
10. By participating in this Promotion, you agree and consent to GELS and its related corporations (collectively, the "Companies"), as well as their respective representatives, agents, the Companies' authorised service providers and relevant third parties (the Companies and all the other foregoing parties, collectively, “Great Eastern Persons”), collecting, using, disclosing, and/or sharing amongst themselves your personal data, for purposes reasonably required by the Companies to evaluate your proposal and to provide the products or services which you are applying for (including any policy renewals and policy upgrades, substitutions or replacements) and such other purposes as described in Great Eastern's Privacy Statement (collectively, the “Purposes”) which is accessible from Great Eastern Singapore’s website at https://www.greateasternlife.com, which you confirm you have read and understood.
Your consents herein supplement but do not supersede nor replace any other consents you may have previously provided to Great Eastern Persons, and your consents herein are cumulative and additional to any rights which any of the Great Eastern Persons may have to collect, use, and/or disclose of your Personal Data, with or without your consent, to the extent permitted under applicable law.
In addition, where personal data of any person is disclosed by you, you further confirm and represent that you have obtained the consent of the individual concerned for the Purposes, unless such consent is not required under applicable laws: (i) to collect such personal data; (ii) for the disclosure of such personal data to the Great Eastern Persons; and (iii) for the Great Eastern Persons’ collection, use and/or disclosure of such personal data.
11. The terms and conditions of this Promotion shall be governed by and interpreted in accordance with Singapore law. The courts of Singapore shall have exclusive jurisdiction over any disputes arising from the terms and conditions, including the validity and enforceability thereof.