In today's fast-paced world, where time is precious and the future uncertain, having reliable life insurance coverage is more important than ever. But with so many options available, how do you choose a plan that offers comprehensive protection without breaking the bank? Enter GREAT Term , an innovative term insurance plan designed to provide up to a lifetime of coverage at affordable premiums. Let's dive deep into what makes this plan stand out and why it might be the perfect fit for your life protection needs.
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GREAT Term is a flexible term insurance plan offered by Great Eastern Life Assurance Company. It's designed to provide coverage against death and terminal illness, with the option to add supplementary riders for total and permanent disability (TPD) and critical illness (CI) protection. The plan's standout feature is its affordability combined with the potential for lifetime coverage , making it an attractive option for those looking to secure their financial future without a hefty price tag.
Protection against death and terminal illness up to age 100 . TPD coverage available as an optional rider. Premiums start from as low as S$0.86 per day*.
Option to add riders for TPD and critical illness coverage. CI riders can cover up to 121 conditions across early, intermediate, and critical stages .
Boost your coverage up to S$300,000 in just 10 minutes . Simple online process with only two health questions.
Option to convert the term plan and its riders to a life policy with cash value in the future. Conversion available regardless of your health status at the time.
Choose coverage duration that suits your needs, up to age 100.
| Age | What suggestion covers | Premium |
|---|---|---|
| 26, Male making $8,083.333 a month | death $1,500,000 critical illness $200,000 early critical illness $200,000 | $1,785.35 |
| 31, Male making $8,333.333 a month | child: death $10,000 hospital care: max days $30 daily amount $200 congenital illness $10,000 juvenile conditions $10,000 major organ surgery $5,000 mother: death or tpd $10,000 hospital care: max days $30 daily amount $200 pregnancy complications $10,000 psychological consultations: per consultation $100 max consultations $3 | $678 |
| 25, Female making $4,350 a month | death $500,000 disability income $3,000 personal accident $300,000 late critical illness $300,000 early critical illness $200,000 | $4,284.65 |
| 23, Female making $0 a month | tpd $300,000 death $300,000 personal accident $300,000 late critical illness $300,000 early critical illness $300,000 | $185.8 |
| 25, Female making $6,800 a month | death tpd $1,000,000 disability income $5,100 personal accident $500,000 late critical illness $500,000 early critical illness $300,000 | $411.7 |
This scenario illustrates how GREAT Term can provide comprehensive protection throughout different life stages , offering financial support when it's needed most.
GREAT Term with TPD Benefit: S$300,000. Living Care Rider (critical stage CI): S$100,000. Complete Living Care Rider: S$100,000.
Mark is diagnosed with Early Stage Bladder Cancer. Receives a lump sum payout of S$100,000 from the Complete Living Care Rider. GREAT Term with TPD Benefit reduces to S$200,000.
Mark is diagnosed with End Stage Kidney Failure. Receives another lump sum payout of S$100,000 from the Living Care Rider. GREAT Term with TPD Benefit further reduces to S$100,000.
Mark's GREAT Term with TPD Benefit continues at S$100,000 coverage.
One of GREAT Term's strengths is its flexibility. You can tailor your coverage to suit your specific needs and budget:
Choose how long you want your coverage to last, up to age 100.
Select the amount of coverage you need, starting from S$100,000.
TPD Benefit: Provides a lump sum payout if you become totally and permanently disabled. Living Care Rider: Covers critical stage critical illnesses. Complete Living Care Rider: Covers early, intermediate, and critical stage critical illnesses.
For a streamlined process, you can purchase GREAT Term online with TPD coverage up to S$300,000, answering just two health questions.
GREAT Term's affordability is one of its most attractive features. Premiums start from as low as S$0.86 per day for a 25-year-old non-smoker male with S$300,000 coverage over a 40-year term.
It's important to note that while the basic GREAT Term premiums are guaranteed, rider premiums (such as for the Living Care Rider and Complete Living Care Rider) are not guaranteed and may be adjusted based on future experience.
Life is unpredictable, and your insurance needs may change over time. GREAT Term offers a valuable conversion privilege that allows you to convert your term plan and its riders to a life policy with cash value in the future, regardless of your health status at the time of conversion. This feature provides flexibility and peace of mind, knowing that you can adapt your coverage as your life circumstances evolve.
In today's digital age, convenience is key. GREAT Term offers a streamlined online application process for those seeking quick and hassle-free coverage:
This online option is perfect for those who need immediate coverage or prefer a no-fuss application process.
GREAT Term is an excellent option for:
Affordable premiums for substantial coverage
Flexibility to add riders for comprehensive protection
Option for lifetime coverage (up to age 100)
Easy online application process for basic coverage
Conversion privilege for future needs
Rider premiums are not guaranteed and may increase
No cash value if the policy is terminated early
Online purchase limited to S$300,000 coverage and doesn't include CI riders
While GREAT Term offers many attractive features, it's essential to consider your personal circumstances, financial goals, and long-term needs before making a decision. Here are some steps to help you make an informed choice:
Remember, while the online purchase option is convenient, consulting with a Great Eastern Financial Representative can provide you with personalized advice and help you explore all available options, including the critical illness riders not available online.
GREAT Term offers a compelling combination of affordability, flexibility, and comprehensive coverage . Its ability to provide up to lifetime protection at competitive rates makes it an attractive option for many Singaporeans looking to secure their financial future. The added benefits of customizable coverage, easy online application, and the conversion privilege further enhance its appeal.
However, as with any financial decision, it's crucial to carefully consider your personal needs and circumstances before committing to a policy. While GREAT Term can offer excellent value, it's always wise to explore multiple options and seek professional advice to ensure you're making the best choice for your unique situation.
Ready to explore your options further? Don't rely on just one perspective. Get expert insights tailored to your unique needs. Sign up now to receive 5 expert opinions on term life insurance. These professionals will review your specific situation and provide personalized recommendations, helping you make the most informed decision possible.
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