Introduction
In today's uncertain world, securing your family's financial future is paramount. Term life insurance offers an affordable way to provide substantial coverage for a specific period. Great Eastern's GREAT Term is a versatile term life insurance plan that offers protection against death and terminal illness, with the flexibility to add coverage for total and permanent disability (TPD) and critical illnesses (CI). With premiums starting from as low as S$0.86 per day, GREAT Term provides comprehensive coverage that can last up to a lifetime, ensuring your loved ones are protected when they need it most.
Coverage and Benefits
GREAT Term offers a range of comprehensive benefits to ensure you and your loved ones are well-protected. From death coverage to critical illness protection, this plan is designed to provide financial security when you need it most. Let's explore the key features and benefits of GREAT Term.
Death Benefit
Financial Security for Loved Ones. Upon the insured's death, GREAT Term pays out the basic sum assured or the sum of premium payments, whichever is higher. This ensures your beneficiaries receive substantial financial support.
Terminal Illness Benefit
Support in Difficult Times. If diagnosed with a terminal illness expected to result in death within 12 months, you'll receive a one-time payout equal to the Death Benefit. This provides crucial financial assistance during challenging times.
Total and Permanent Disability (TPD) Benefit
Protection Against Disability. The TPD Benefit covers various disability scenarios, including presumptive TPD and other types. The benefit amount can be up to S$5 million across all Great Eastern policies and riders.
Critical Illness Coverage
Comprehensive CI Protection. With optional riders, you can get coverage for up to 121 early, intermediate, and major stage critical illnesses. The Living Care Rider covers 53 major stage CIs, while the Complete Living Care Rider offers more extensive protection.
Policy Terms and Flexibility
GREAT Term offers flexibility in policy terms and options to adapt to your changing needs. Understanding these features can help you make the most of your coverage throughout your life stages. Here's an overview of the key policy terms and flexibility options:
Policy Terms
Flexible Coverage Duration. GREAT Term offers coverage periods starting from 6 years up to age 100, allowing you to choose a term that aligns with your protection needs and financial goals.
Premium Payment
Affordable and Customizable. Premiums start from as low as S$120 annually, with various payment terms available. For example, a 35-year-old non-smoking male can get S$500K coverage till age 100 for S$182.80 monthly.
Conversion Privilege
Adapt to Changing Needs. Before age 70, you can convert your GREAT Term policy (partially or fully) into an endowment, whole life, universal life, or investment-linked plan without medical underwriting, offering flexibility as your needs evolve.
No Renewability Option
Long-Term Coverage Focus. GREAT Term does not offer a renewability option. However, its long-term coverage options and conversion privilege provide alternatives for extended protection.
Riders
GREAT Term offers optional riders to enhance your coverage and provide comprehensive protection against various risks. These riders allow you to customize your policy to meet your specific needs. Here's an overview of the available riders:
TPD Benefit Rider
Disability Protection. This rider provides coverage for total and permanent disability, with benefits up to S$5 million across all Great Eastern policies. It covers various TPD scenarios, including presumptive TPD and other types.
Living Care Rider
Major CI Coverage. This rider protects against 53 major stage critical illnesses, providing a lump sum payout upon diagnosis. The benefit amount can be up to S$3 million across all Great Eastern policies and riders.
Complete Living Care Rider
Extensive CI Protection. This comprehensive rider covers 121 early, intermediate, and major stage critical illnesses. It offers more extensive protection compared to the Living Care Rider, providing coverage for a wider range of health conditions.
Claims and Customer Service
While we are not affiliated with Great Eastern, we understand the importance of smooth claims processing and reliable customer support. Great Eastern provides multiple channels for policyholders to file claims and seek assistance. Customers can typically submit claims through online portals, mobile apps, or by contacting their customer service hotline. For specific inquiries or support, policyholders can reach out to Great Eastern's customer service team via phone, email, or by visiting their nearest branch office. It's advisable to keep all relevant documents and policy information readily available when filing a claim or seeking assistance to ensure a smoother process.
Conclusion
Great Eastern's GREAT Term is an excellent choice for individuals seeking affordable, long-term life insurance coverage. It's particularly suitable for young adults starting their careers, new parents looking to protect their growing families, and those seeking flexible coverage that can adapt to their changing needs over time. The plan's customizable nature, with its range of riders and conversion options, makes it a versatile choice for many Singaporeans.
, you'll be matched with 5 different insurance advisors, each offering unique insights and proposals tailored to your specific situation. This approach allows you to make a well-informed decision based on diverse expert opinions. Plus, by participating, you'll enter our 'Premiums On Us' campaign, where you could win your quarterly insurance premiums paid by Whatins. Don't miss this opportunity to secure your future while potentially saving on premiums – sign up with Whatins today!
