Whole life insurance provides lifelong protection and financial security for your loved ones. The GREAT Flexi Protect Series 3 offers comprehensive coverage with flexible options to suit your needs. This innovative product from Great Eastern combines life protection, critical illness coverage, and potential for cash value growth. With customizable features and optional riders, you can tailor your policy to ensure your family's financial future is secure. Let's explore the key benefits and features of this versatile whole life insurance plan.
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The GREAT Flexi Protect Series 3 offers a range of comprehensive coverage options to protect you and your family. From death benefits to critical illness protection, this policy is designed to provide financial security in various life scenarios. Let's examine the key coverage components and benefits offered by this versatile whole life insurance plan.
Provides financial protection for beneficiaries. Pays out the sum assured plus any accumulated bonuses upon the insured's death.
Builds cash value over time. Accumulates as a percentage of premiums paid, providing a savings component to the policy.
Potential for additional returns. May include annual reversionary bonuses and terminal bonuses, enhancing the policy's value over time.
Advance payout for terminal conditions. Provides the full death benefit if diagnosed with a terminal illness expected to result in death within 12 months.
Coverage for total disability. Pays out the full sum assured if the insured becomes totally and permanently disabled before age 65.
Protection against severe illnesses. Covers early, intermediate, and critical stages of specified conditions, with payouts based on the stage and severity.
The GREAT Flexi Protect Series 3 not only provides insurance coverage but also offers potential for wealth accumulation. Through its participating fund structure, policyholders can benefit from both guaranteed and non-guaranteed returns. Let's explore the investment strategy, historical performance, and projected growth potential of this whole life insurance plan.
Diversified asset allocation. The participating fund aims for stable long-term returns through a mix of equities (23%), bonds (61%), properties (8%), and other assets.
Consistent returns over time. The participating fund has achieved 5-year and 10-year annualized returns of 5.78% p.a. and 5.52% p.a. respectively, as of December 2021.
Potential for cash value increase. Non-guaranteed bonuses may enhance policy value, with projections based on illustrated investment rates of 3.00% p.a. and 4.25% p.a.
| Age | What suggestion covers | Premium |
|---|---|---|
| 24, Female making $4,200 a month | personal accident $250,000 | $626.21 annual |
| 23, Female making $2,300 a month | annual limit $1,200,000 ward Up to Private hospital A ward (can also stay in Govt hospital) | $221.05 annual |
| 27, Female making $4,500 a month | post 65: ci $60,000 death $60,000 eci $0 pre 65: ci $250,000 death $250,000 eci $220,000 | $2,186.55 annual |
| 26, Female making $3,300 a month | co insurance: cap $3,000 percentage $5 policy limit $2,500,000 post hospitalization $365 pre hospitalization $180 | $498.5 annual |
| 24, Male making $1,500 a month | critical illness $210,000 death $25,000 early critical illness $210,000 | $810.85 annual |
The GREAT Flexi Protect Series 3 offers optional riders to enhance your coverage and tailor the policy to your specific needs. These riders provide additional protection and flexibility, allowing you to customize your insurance plan. Let's examine the available riders and their benefits.
Boosts critical illness coverage. Increases protection for death, TPD, terminal illness, and critical stage of critical illness by up to 300% or more of the base sum assured.
Comprehensive CI enhancement. Extends coverage to early and intermediate stages of critical illnesses, in addition to the benefits provided by the Living Multiplier Rider.
The GREAT Flexi Protect Series 3 provides flexibility in accessing your policy's cash value through loans and surrender options. Understanding these features can help you make informed decisions about your financial needs. Let's explore the policy loan terms, surrender value calculation, and how they compare to average whole life insurance products.
Access to cash value. Policyholders can borrow against the policy's cash value, subject to interest rates set by Great Eastern.
Cash out option available. After paying premiums for at least 3 consecutive years, you can surrender the policy and receive the guaranteed surrender value plus any declared bonuses.
Competitive features. The GREAT Flexi Protect Series 3 offers comparable loan and surrender options to other whole life insurance products in the market.
Great Eastern is committed to providing excellent customer support and a smooth claims process for GREAT Flexi Protect Series 3 policyholders. To file a claim, you can contact their dedicated claims team at +65 6248 2211 or email [email protected]. The company's website also offers online claim submission options for added convenience. For general inquiries or policy-related assistance, customers can reach out to Great Eastern's customer service team through the same contact channels. Their representatives are trained to guide you through the claims process and address any concerns you may have about your policy.
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The GREAT Flexi Protect Series 3 is an excellent choice for individuals seeking comprehensive whole life insurance coverage with flexibility and potential for cash value growth. This policy is particularly well-suited for young families looking to secure their financial future, professionals wanting to supplement their employee benefits, and those planning for long-term financial security. With its customizable features and optional riders, it can be tailored to meet a variety of protection needs.
, you'll be connected with 5 different insurance advisors who can provide diverse perspectives on your options. This approach allows you to compare multiple viewpoints and make a more informed decision about your insurance coverage. Plus, by participating, you'll be entered into the 'Premiums On Us' campaign, giving you the chance to have your quarterly premiums paid by Whatins. Don't miss this opportunity to secure your financial future with expert guidance and potential rewards!
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