GE Great CareShield
We analysed GE Great CareShield docs so you don't have to. Key find: Payouts start from just 1 ADL disability. Protect your parents and yourself. See our full review for more insights.
In today's unpredictable world, have you ever wondered what would happen to your family's financial stability if you suddenly couldn't work due to illness or injury? It's a concern that many of us share, but few are prepared for. That's where Pay Assure comes in – a unique income protection plan designed to give you peace of mind and financial security when you need it most .
Find the right coverage in minutes
Use our advanced calculator to get personalized insurance recommendations
Get precise coverage recommendations based on your needs
Receive instant results without lengthy consultations
Get tailored recommendations based on your unique situation
Pay Assure is an innovative health protection plan offered by Great Eastern Life Assurance Company. It's designed to provide a financial lifeline by protecting your salary if you're unable to work in your current occupation due to illness (including mental conditions) or injury . Think of it as a safety net that catches you and your loved ones if life throws you an unexpected curveball.
Receive up to 75% of your average monthly salary . Coverage continues if you can't work in your current occupation due to illness or injury. Partial benefits available if you return to work in a reduced capacity.
Lump sum payment of six times your monthly benefit to your loved ones.
Get reimbursed for rehabilitation expenses up to three times your monthly benefit .
Choose a 60, 90, or 180-day pre-benefit period. Select to receive benefits up to age 55, 60, or 65.
Age | What suggestion covers | Premium |
---|---|---|
26, Female making $9,166.667 a month | death benefit $24,000 monthly disability benefit $4,000 | $1,630.75 |
24, Female making $3,333.333 a month | death benefit $12,000 total disability benefit $2,000 | $1,318 |
73, Female making $15,000 a month | death benefit $12,000 total disability benefit $2,000 | $392 |
25, Male making $4,000 a month | death benefit $12,000 total disability benefit $2,000 | $392 |
Let's break it down with a real-life example:
Meet Andrew, a 35-year-old outdoor sales executive earning S$6,000 a month. He chooses Pay Assure with the following options:
At age 40, Andrew is diagnosed with a spinal disorder that prevents him from performing his job as an outdoor salesperson. Here's how Pay Assure helps:
Two years later, at age 42, Andrew recovers enough to work as an indoor telemarketer, earning S$3,000 a month. Pay Assure continues to support him:
This support continues until Andrew reaches age 60 or fully recovers, whichever comes first.
Pay Assure doesn't just cover injuries. It also protects you against illnesses, including mental health conditions . In today's high-stress world, this is a crucial feature that many other plans overlook.
The ability to choose your pre-benefit period and coverage duration allows you to tailor the plan to your specific needs and budget .
The rehabilitation expense reimbursement is a unique feature that goes beyond just replacing income . It actively supports your recovery process.
If you can return to work but in a reduced capacity with lower pay, Pay Assure continues to support you by supplementing your income .
While the primary focus is on income protection, the inclusion of a death benefit provides an additional layer of financial security for your loved ones .
If your family relies on your income, Pay Assure can ensure their financial stability even if you're unable to work.
Without employer-provided benefits, self-employed people are particularly vulnerable to income loss due to illness or injury.
If your job requires physical ability, an injury could significantly impact your earning capacity.
If you don't have substantial savings to fall back on, Pay Assure can provide crucial financial support during difficult times.
Whether you have children, aging parents, or other dependents, Pay Assure helps ensure you can continue supporting them.
Assess your monthly expenses and choose a benefit amount that would adequately cover these costs. Remember, you can insure up to 75% of your average monthly salary .
Choose between 60, 90, or 180 days. A longer pre-benefit period typically results in lower premiums but means you'll need to rely on savings for longer if you become unable to work.
Decide whether you want coverage until age 55, 60, or 65. Consider your retirement plans and any other income protection you might have when making this decision.
Pay Assure defines your current occupation as the one you held prior to disability. This is important because benefits are paid if you can't work in that specific occupation , even if you might be able to do other types of work.
Your average monthly salary is determined based on your earnings over the last 12 or 36 months at the time of application, depending on your employment nature and income.
While Pay Assure offers reimbursement for rehabilitation expenses, it's important to understand what types of expenses qualify. Always check with Great Eastern for specifics.
Remember that your premiums are waived after the pre-benefit period if you're receiving benefits . This helps ensure you maintain coverage even when you're not earning.
Pay Assure is a pure protection plan. It doesn't have any savings or investment features, which means there's no cash value if the policy ends or is terminated early.
It's best to check with Great Eastern about options for adjusting your coverage after purchase.
Your coverage is based on your occupation at the time of claim. If you change to a higher-risk occupation, it might affect your coverage or premiums.
Like all insurance policies, Pay Assure will have certain exclusions. It's crucial to review these in detail with your Great Eastern Financial Representative.
While similar, Pay Assure focuses on your ability to work in your specific occupation, which can provide more comprehensive coverage in many situations.
Yes, Pay Assure can complement your existing health insurance by focusing specifically on income protection.
In an unpredictable world, Pay Assure offers a valuable safety net for you and your loved ones. By providing a steady income stream when you're unable to work due to illness or injury, it helps ensure that your family's financial stability isn't compromised during challenging times .
However, as with any financial decision, it's crucial to carefully consider your personal circumstances, existing coverage, and long-term goals before purchasing a Pay Assure plan. While the benefits are significant, you'll want to ensure that the coverage aligns with your specific needs and budget.
Ready to take the next step in protecting your income and securing your family's financial future? Don't rely on just one perspective. Get expert insights tailored to your unique situation . Sign up now to receive 5 expert opinions on income protection insurance. 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 your options and ensure you're choosing the best coverage for your needs. Don't leave your financial security to chance – get the expert advice you deserve today.
By filling this out, you agree to allow us to contact you about insurance related information.
Compare other disability options to find the best coverage for your needs
We analysed GE Great CareShield docs so you don't have to. Key find: Payouts start from just 1 ADL disability. Protect your parents and yourself. See our full review for more insights.
We analysed GREAT LifeSecure docs so you don't have to. Key find: Up to S$5,000 monthly for life on disability. Protect your parents too. See our full review for more insights.
We analysed AIA Pay Protector docs so you don't have to. Key find: Covers mental illnesses, crucial for young professionals. Protect your income like your parents advised. Full review has more eye-openers.
We analysed AIA Premier Disability Cover docs so you don't have to. Key find: Up to 75% income replacement. Protect your family's future. See our full review for more insights and relevance.
We analysed Care Secure docs so you don't have to. Key find: Up to 600% support benefit for severe disability. Protect your parents' future. See our full review for more insights.
We analysed Singlife CareShield docs so you don't have to. Key find: Up to S$5,000 monthly payout for severe disability. Protect your parents too. See our full review for more insights.
We analysed Singlife Dementia Cover docs so you don't have to. Key find: Up to S$170,000 total payout for cognitive care. Protect your parents' future. See our full review for more insights.
We analysed Singlife ElderShield docs so you don't have to. Key find: Up to S$5,000 monthly for severe disability. Protect your parents' future. See our full review for more insights.