GREAT Flexi Protect Series 3: Comprehensive Life Protection with Flexible Coverage Options

In today's uncertain world, securing your family's future is more important than ever. Did you know that 1 in 5 Singaporeans will be diagnosed with cancer before reaching 75 years old? Or that cardiovascular diseases account for 30% of all deaths in Singapore? These sobering statistics highlight the importance of comprehensive life protection. If you're looking for a flexible and robust insurance plan that grows with your needs, the GREAT Flexi Protect Series 3 might be the solution you've been searching for.

Click here to get personalized advice from 5 insurance experts on GREAT Flexi Protect Series 3 and similar plans

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What is GREAT Flexi Protect Series 3?

GREAT Flexi Protect Series 3 is a comprehensive whole life participating insurance plan designed to offer you and your family enhanced protection with flexible choices on multiplied coverage . It's not just a single plan, but a series of options that allow you to tailor your protection according to your specific needs and budget.

Key Features That Set GREAT Flexi Protect Series 3 Apart

Flexible Base Plan Options

Choose between two comprehensive whole life participating plans. Customize your coverage based on your specific needs.

Optional Multiplier Riders

Boost your coverage by 200%, 300%, or even more . No limit to the multiplier factor.

Increasing Protection Value Over Time

Non-guaranteed bonuses accumulate with each policy year. Your protection value grows as you age.

Comprehensive Protection with Additional Benefits

Special benefits for specific medical conditions. Coverage for your children under the Juvenile Benefit.

Lifetime Coverage with Flexible Premium Terms

Choose to pay premiums for 20 years or until age 65. Enjoy lifelong protection even after premium payments end.

Real premiums suggested for GREAT Flexi Protect Series 3

28, Male making $5,000 a month

Coverage:

pre 70:

death

$300,000

critical illness

$300,000

early critical illness

$180,000

post 70:

death

$120,000

critical illness

$120,000

early critical illness

Premium:

$3,274.05

30, Female making $3,008.333 a month

Coverage:

base

$50,000

rider

$150,000

total

$200,000

Premium:

Not provided

30, Male making $5,000 a month

Coverage:

pre 65:

$300,000

eci

$180,000

death

$300,000

post 65:

$56,000

eci

death

$56,000

Premium:

$2,303.85

22, Female making $2,300 a month

Coverage:

pre 65:

$200,000

eci

$150,000

death

$200,000

post 65:

$105,000

eci

death

$105,000

Premium:

$1,965.25

36, Male making $2,000 a month

Coverage:

TPD

$200,000

death

$200,000

critical illness:

early to late

$200,000

num illnesses covered

$53

terminal illness

$200,000

Premium:

$2,978.95

Age	What suggestion covers	Premium
28, Male making $5,000 a month	pre 70: death $300,000 critical illness $300,000 early critical illness $180,000 post 70: death $120,000 critical illness $120,000 early critical illness $0	$3,274.05 Read More
30, Female making $3,008.333 a month	base $50,000 rider $150,000 total $200,000	Not provided Read More
30, Male making $5,000 a month	pre 65: ci $300,000 eci $180,000 death $300,000 post 65: ci $56,000 eci $0 death $56,000	$2,303.85 Read More
22, Female making $2,300 a month	pre 65: ci $200,000 eci $150,000 death $200,000 post 65: ci $105,000 eci $0 death $105,000	$1,965.25 Read More
36, Male making $2,000 a month	TPD $200,000 death $200,000 critical illness: early to late $200,000 num illnesses covered $53 terminal illness $200,000	$2,978.95 Read More

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What Does GREAT Flexi Protect Series 3 Cover?

Base Plans

GREAT Flexi Living Protect 2: Covers Death, Total & Permanent Disability (TPD), Accidental TPD (ATPD), Terminal Illness (TI), and Critical Stage of Critical Illness (CI) with Additional Benefit. br>b>GREAT Complete Flexi Living Protect 2: Covers all the above, plus Early and Intermediate Stages of CI with Additional Benefit.

Optional Multiplier Riders

Living Multiplier Rider: Covers Death, TPD, TI, and Critical Stage of CI with Additional Benefit. br>b>Complete Living Multiplier Rider: Covers all the above, plus Early and Intermediate Stages of CI with Additional Benefit.

Additional Benefits

Special Benefit: Covers specific medical conditionsbr>Senior Benefit: Additional coverage for age-related conditionsbr>Benign Tumour Benefit: Coverage for non-cancerous tumoursbr>Juvenile Benefit: Protects your children up to age 18

How Does the Multiplier Coverage Work?

The unique feature of GREAT Flexi Protect Series 3 is its multiplier option. Here's how it works:

Choose your base plan coverage amount

Add a multiplier rider to increase your coverage by 200%, 300%, or more

There's no limit to the multiplier factor, allowing you to customize your protection level

For example, if you choose a base plan coverage of $100,000 and add a 300% multiplier, your total coverage would be $400,000.

Real-Life Scenario: How GREAT Flexi Protect Series 3 Works

Meet James, a 30-year-old non-smoker, married with a child.

James chooses:

GREAT Complete Flexi Living Protect 2 with $50,000 lifetime coverage

Complete Living Multiplier Rider: $350,000

Living Multiplier Rider: $50,000

Total Initial Combined Coverage: $450,000

Monthly Premium: $386

Payment Term: 20 years

Here's how James benefits from his policy over time:

Age 30: James undergoes Angioplasty

Receives $25,000 payout as Additional Benefit

Age 45: Diagnosed with Early Stage Kidney Failure

Receives $350,000 payout from Complete Living Multiplier Rider

Age 50: Diagnosed with Early Stage Lung Disease

Age 55: Receives a total payout of $73,969

$50,000 from base plan

$23,969 in non-guaranteed bonuses

Age 70: Coverage continues for life

This example illustrates how the plan provides comprehensive protection throughout different life stages, with increasing benefits over time.

Why Compare GREAT Flexi Protect Series 3 with other Whole Life Options through Whatins?

Traditional Approach

Limited comparison of growth projections
Single company's whole life performance history
May oversimplify cash value benefits

Whatins Advantage

Compare whole life cash value projections across insurers
See different whole life dividend histories
Understand various whole life premium payment options
Compare guaranteed vs non-guaranteed values

Pros and Cons of GREAT Flexi Protect Series 3

Pros

Flexible coverage options to suit different needs and budgets
Multiplier riders allow for significantly increased coverage
Comprehensive protection including early and intermediate stages of critical illnesses
Additional benefits for specific medical conditions and age groups
Increasing protection value over time through non-guaranteed bonuses
Lifetime coverage with limited premium payment terms

Cons

Premium rates are not guaranteed and may increase over time
Non-guaranteed bonuses depend on the performance of the participating fund
Early termination of the policy may result in high costs and low surrender value

Frequently Asked Questions

Can I change my coverage amount after purchasing the policy?

You should check with Great Eastern about options for adjusting your coverage after purchase.

What happens if I can't pay my premiums?

The policy may lapse if premiums are not paid. It's important to choose a premium term that fits your financial situation.

Are the bonuses guaranteed?

No, the bonuses are not guaranteed and depend on the performance of the participating fund.

Can I add riders to my policy later?

This depends on the specific terms of the policy. Consult with your Great Eastern representative for details.

What's not covered by this plan?

Like all insurance policies, there are exclusions. Be sure to read the policy contract carefully for full details.

Conclusion

GREAT Flexi Protect Series 3 offers a unique combination of comprehensive coverage and flexibility , allowing you to tailor your protection to your specific needs and life stage. With its multiplier options, additional benefits, and increasing protection value over time, it provides a robust safety net for you and your family.

However, as with any significant financial decision, it's crucial to carefully consider your personal circumstances, long-term goals, and budget before committing to a policy. The flexibility of this plan is a double-edged sword – while it allows for customization, it also requires careful consideration to ensure you're choosing the right options for your situation.

Remember, the best insurance plan is one that provides you with peace of mind and fits seamlessly into your overall financial strategy. If you're considering GREAT Flexi Protect Series 3 or any other life insurance plan, it's always wise to consult with a qualified financial advisor who can provide personalized recommendations based on your unique circumstances.

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