You pay a lower premium because you are young and healthy. Depending on the design of the term insurance, you can choose your desired coverage term for protection against Death, Total and Permanent Disability (TPD), Terminal Illness (TI) or Critical Illness (CI). For example, Great Eastern’s GREAT Term provides coverage against death and terminal illness and you can add on optional supplementary riders to protect against TPD and CI.
Saves you a lot of money
The younger you purchase life insurance, the lower the premiums you have to pay. With term insurance, you are likely to pay from as low as S$0.39 a day* for essential protection.
Protects the future for you and loved ones
You have loved ones, whom you do not want to burden should any thing happen to you.
Boosts your financial confidence
At a time when you are focused on building your career and the future of your dreams, term insurance gives you peace of mind knowing you are well protected, whatever happens.
Keeps you in charge of your savings goals
As term insurance does not build up cash value, the premium is relatively cheaper than a life policy that offers cash value. You can channel your savings from not having to pay a relatively higher premiums to meet your other financial goals.
Secures your dreams and goals
Term insurance can be customised to your needs and may offer the flexibility to convert to a life policy offering cash value later in your life. For example, Great Eastern’s GREAT Term gives you the option to convert your Term Plan to a life policy offering cash value with no further medical assessment required. This option keeps you in control with your changing needs in your different life stages.
Gets you ahead of the curve
Later in life, when you have achieved your dreams and goals, you’ll be glad you had the foresight to protect yourself with high coverage at a young age. That is why term insurance is critical to the strong financial protection foundation for the rest of your life.
Notes and Disclaimers
*Based on a 25 years old (age next birthday), non-smoking female who purchased Great Eastern’s GREAT Term with Total and Permanent disability Benefit for a sum assured of S$300,000 for 20 years, up to age 45. The daily premium is calculated based on the total annual premium divided by the total number of days in a year rounded to the nearest cent.
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 if the policy is terminated prematurely. It is usually detrimental to replace an existing accident and health plan with a new one. A penalty may be imposed for early plan termination and the new plan may cost more, or have less benefts at the same cost.
Protected up to specified limits by SDIC.