Life is full of 'what ifs.' What if you get married? What if you have a child? What if your financial priorities change? Great Eastern's Smart Life Advantage is designed to help you navigate these uncertainties with flexibility and comprehensive coverage . Let's dive deep into this innovative whole-life investment-linked plan and explore how it can provide you with a smart advantage in life.
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Smart Life Advantage is a unique whole-life investment-linked insurance plan that combines comprehensive life coverage with the flexibility to adapt to your changing needs . It's designed to address both your protection and wealth accumulation needs in a single policy, giving you greater control and transparency over your financial future.
Protection Account: Covers your insurance needs b>Accumulation Account: Allows for regular and ad hoc investments
Increase your coverage at key life milestones without medical underwriting
Option to reduce Death, TPD, and TI coverage at age 55
Add protection for various stages of Critical Illness, Personal Accident, and more
Access to a wide selection of professionally managed funds
This separation provides greater transparency and control over your finances . You can clearly see how much of your premium is going towards protection and how much is being invested for potential growth.
Covers your basic insurance needs (Death, Total and Permanent Disability, Terminal Illness)br>Allows for additional Critical Illness coveragebr>Premiums for this account are used to provide insurance protection
Designed for wealth accumulation br>Allows regular and ad hoc investmentsbr>Gives access to a variety of professionally managed fundsbr>Potential to grow your wealth over time
This feature is particularly valuable because it allows your insurance coverage to grow along with your responsibilities, without the hassle of medical check-ups or the risk of being denied due to health changes .
Death, Total and Permanent Disability (TPD), and Terminal Illness (TI)br>Critical Illness (CI)
Turning 21
Getting married
Third policy anniversary
Birth of a child
Legal adoption of a child
Up to S$100,000 or 50% of your initial sum assured, whichever is lowerbr>Can be exercised twice during the policy term for each type of coverage
As you approach your golden years, your insurance needs may change. Smart Life Advantage recognizes this by offering a unique option when you turn 55:
This flexibility ensures that your insurance continues to meet your needs as you age, potentially freeing up resources for health-related coverage that becomes more crucial in later years.
These riders allow you to create a truly comprehensive protection plan tailored to your specific needs and concerns .
Cover early, intermediate, and critical stages of illnesses
Additional protection against accidents
Provides income if you're unable to work due to disability
Waives future premiums in case of Death, TPD, TI, or various stages of Critical Illness
Ensures premiums are paid even if the payer (e.g., a parent) faces Death, TPD, TI, or Critical Illness
Through the Accumulation Account, Smart Life Advantage offers access to a wide range of professionally managed funds. This feature allows you to:
It's important to note that investments are subject to market risks, and returns are not guaranteed . However, this feature provides an opportunity for those who want to combine protection with potential wealth accumulation.
Sarah, 25, takes out a Smart Life Advantage policy. When she gets married at 28, she uses the Smart Life Guarantee to increase her coverage without medical underwriting. Later, when she has her first child at 32, she increases her coverage again and adds a Critical Illness rider for extra protection.
John, 35, has a Smart Life Advantage policy. When his child is born, he not only increases his coverage but also adds a Payer Benefit Rider to ensure the policy remains in force even if something happens to him.
Linda, 55, has had her policy for 20 years. She chooses to reduce her Death, TPD, and TI coverage, optimizing her Protection Account for Critical Illness coverage, which is more relevant to her current life stage.
Flexibility to adjust coverage as life changes
Combines protection and potential wealth accumulation
Comprehensive rider options for tailored protection
Smart Life Guarantee allows coverage increase without medical underwriting
Option to optimize coverage in later years
Investment returns are not guaranteed
May be more complex than traditional life insurance policies
Premiums may be higher than some term insurance options
Yes, most investment-linked policies allow fund switching, but check the specific terms with your representative.
The policy may lapse if premiums are not paid. Some policies offer a premium holiday feature, but this can affect your coverage and investments.
Usually, yes, but withdrawals may be subject to fees and can affect your coverage. Check the policy terms for details.
No, it can only be exercised before the policy anniversary on which you turn 60.
The Smart Life Guarantee is an option, not an obligation. You can choose not to use it if your coverage remains sufficient.
Great Eastern's Smart Life Advantage offers a unique combination of life insurance protection and investment opportunities, with the flexibility to adapt to your changing needs . Its innovative features like the Smart Life Guarantee and the dual account structure set it apart in the market.
However, as with any financial product, it's essential to carefully consider your personal needs, financial situation, and long-term goals before making a decision. While Smart Life Advantage offers many advantages, it may not be the best fit for everyone.
Ready to explore if Smart Life Advantage is right for you? Don't rely on just one perspective. Get expert insights tailored to your unique situation . Sign up now to receive 5 expert opinions on how Smart Life Advantage compares to other insurance options. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of how Smart Life Advantage fits into your overall financial plan. Don't leave your financial future to chance – get the expert advice you deserve today.
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Read the complete transcript of our expert discussion about GE Smart Life Advantage. This detailed analysis covers key features, benefits, and important considerations for potential policyholders.
Welcome to the deep dive. If you're just starting your career journey here in Singapore, you're probably hearing a lot ab
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