Endowment

GREAT Lifetime Payout 2 Special: Your Path to Financial Freedom and Legacy

Are you looking for a way to secure your financial future while also leaving a lasting legacy for your loved ones? The GREAT Lifetime Payout 2 Special might be the solution you've been searching for. This innovative whole life insurance plan offers a unique combination of lifetime income and wealth accumulation , designed to provide you with financial freedom and peace of mind.

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What is GREAT Lifetime Payout 2 Special?

GREAT Lifetime Payout 2 Special is a participating whole life insurance plan that offers lifetime monthly payouts and the potential for wealth accumulation. It's designed to help you manage your wealth flexibly, adapting to your evolving needs throughout your life. Whether you're saving for your child's education, planning for retirement, or looking to leave a legacy, this plan offers the versatility to meet your financial goals.

Key Features That Set GREAT Lifetime Payout 2 Special Apart

Lifetime Monthly Payouts

Receive up to 3.28% per annum1 in monthly payouts . Payouts start after just 3.5 years.

Short Premium Commitment

Pay premiums for only 3 years . Minimum annual premium of S$10,000.

Capital Guarantee

100% of your capital is guaranteed from the end of the 6th policy year2.

Flexibility

Choose to receive monthly payouts or accumulate them for potentially higher returns3.

Legacy Planning

Leave an inheritance with a lump sum benefit of 105% of total premiums paid plus bonuses .

Why compare GREAT Lifetime Payout 2 Special with other Endowment options through Whatins?

Traditional Approach

  • Only see one company's projected returns
  • May push higher projections without context
  • Limited comparison of guaranteed amounts

Whatins Advantage

  • Compare guaranteed returns across insurers
  • See how different companies project returns
  • Get multiple views on bonus rate histories
  • Understand different payout structures

In summary: If you want more control and multiple suggestions, then Whatins is the way to go.

How Does GREAT Lifetime Payout 2 Special Work?

Premium Payment

You pay premiums for 3 years. Minimum annual premium is S$10,000.

Monthly Payouts

Start receiving payouts after 3.5 years (from the 43rd policy month). For the first 6 months: Up to 3.28% p.a. for premiums of S$30,000 and above. From the 49th policy month onwards: Guaranteed payout of 0.85% p.a. plus non-guaranteed payout of up to 2.43% p.a.

Capital Guarantee

Your capital is 100% guaranteed from the end of the 6th policy year2.

Death Benefit

105% of total premiums paid plus any bonuses.

Real-Life Scenarios

Retirement Planning

Michelle, a 50-year-old patisserie owner, invests S$90,000 over 3 years. By age 85, she could receive total benefits of S$197,690 (2.19x total premiums paid) , including monthly payouts and death benefit.

Education Fund and Legacy Planning

Michael, a 35-year-old engineer, invests for his newborn son. By age 85, the plan could provide total benefits of S$366,448 (4.07x total premiums paid) , including education funding and lifetime payouts.

Pros and Cons

Pros

  • Lifetime monthly payouts

  • Short premium payment period (3 years)

  • 100% capital guarantee from the 6th policy year2

  • Flexibility to receive or accumulate payouts

  • Potential for wealth accumulation and legacy planning

Cons

  • Non-guaranteed portions of payouts depend on fund performance

  • Early surrender may result in losses

  • Inflation may affect the real value of payouts over time

Is GREAT Lifetime Payout 2 Special Right for You?

This plan might be suitable if you:

• Want a steady stream of lifetime income

• Have a lump sum to invest over a short period

• Are looking for potential wealth accumulation

• Want to leave a financial legacy for your loved ones

• Prefer the security of a capital guarantee

However, it may not be ideal if you:

• Cannot commit to the minimum premium amount

• Need immediate access to all your funds

• Are looking for pure investment products with potentially higher returns

How to Get Started

Remember, it's always wise to consult with a financial advisor to ensure this plan aligns with your overall financial strategy.

  • Contact a Great Eastern Financial Representative

  • Discuss your financial goals and needs

  • Review the plan details and customize it to your situation

  • Complete the application process

Frequently Asked Questions

Can I change the payout frequency?

Check with Great Eastern about options for changing payout frequency.

What happens if I miss a premium payment?

Discuss premium payment options and consequences with your Financial Representative.

Can I increase my coverage later?

This would depend on Great Eastern's policies. Consult your Financial Representative for options.

How are the non-guaranteed portions determined?

They depend on the performance of the participating fund. Actual returns may vary.

Is there a surrender value if I terminate the policy early?

Yes, but it may be less than the total premiums paid, especially in the early years.

Conclusion

GREAT Lifetime Payout 2 Special offers a unique combination of lifetime income, potential wealth accumulation, and legacy planning . With its short premium term and lifetime payouts, it can be an attractive option for those looking to secure their financial future and leave something for the next generation. However, like all financial products, it's important to carefully consider your personal needs, goals, and circumstances before making a decision.

Remember, the best financial plan is one that aligns with your specific situation and long-term objectives. If you're considering GREAT Lifetime Payout 2 Special or any other financial product, it's always beneficial to get expert advice.

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