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Investment Linked Plan

Introduction

In today's dynamic financial landscape, investment-linked plans (ILPs) have emerged as a powerful tool for individuals seeking to combine life insurance protection with wealth accumulation. The GREAT Prestige Portfolio, offered by Great Eastern, stands out as a versatile and personalized ILP designed to meet the evolving needs of successful individuals. This innovative product provides access to a wide array of funds managed by award-winning professionals, allowing you to tailor your investment strategy to your unique goals and risk appetite. With the added benefit of financial security through accidental death coverage and the option to enhance protection with riders, GREAT Prestige Portfolio offers a comprehensive solution for those looking to invest in a future of potentially greater returns.

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How ILPs Work

Investment-linked plans (ILPs) combine life insurance coverage with investment opportunities, offering a unique approach to financial planning. With an ILP like GREAT Prestige Portfolio, a portion of your premium goes towards life insurance protection, while the remainder is invested in a selection of funds of your choice. The premium allocation allows you to customize your coverage and investment strategy according to your needs and goals. GREAT Prestige Portfolio offers access to over 100 funds spanning various sectors, asset classes, and geographical markets, catering to different risk appetites and investment horizons. This flexibility enables you to adjust your portfolio as your financial objectives evolve, potentially maximizing returns while maintaining essential life coverage. It's important to note that the investment component carries risks, and returns are not guaranteed, making ILPs suitable for those comfortable with market fluctuations in pursuit of potentially higher gains.

Insurance Coverage

GREAT Prestige Portfolio offers essential insurance coverage to protect you and your loved ones. While the product details don't specify exact coverage amounts, it's important to understand the key components of the insurance protection provided. Let's explore the main aspects of the coverage offered by this investment-linked plan.

Accidental Death Benefit

GREAT Prestige Portfolio provides coverage for accidental death at no extra cost. This benefit offers additional financial protection for your beneficiaries in the event of your untimely demise due to an accident.

No Medical Underwriting

One of the advantages of GREAT Prestige Portfolio is that it requires no medical underwriting. This means you can obtain coverage without the need for medical examinations or extensive health questionnaires.

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Insurance Rider Options

GREAT Prestige Portfolio offers the flexibility to enhance your coverage through additional rider options. These riders allow you to customize your policy to better suit your specific needs and provide extra protection in various scenarios. While the product details don't provide an exhaustive list of available riders, they do mention one important option that can significantly benefit policyholders.

Premium Waiver Rider

The Premium Waiver Rider (ILP) is available for the regular premium version of GREAT Prestige Portfolio. This rider ensures that your investment premiums continue to be contributed to your plan if you are diagnosed with a covered Critical Illness.

Investment Component

The investment component of GREAT Prestige Portfolio is designed to offer flexibility and potential for growth. With access to a wide range of funds managed by professional and award-winning fund managers, you have the opportunity to build a diversified portfolio tailored to your financial goals and risk tolerance. Let's explore the key aspects of the investment component that make GREAT Prestige Portfolio stand out.

Diverse Fund Choices

GREAT Prestige Portfolio offers access to over 100 funds spanning different sectors, asset classes, and geographical markets. This wide selection allows you to create a well-diversified portfolio suited to your investment objectives and risk appetite.

Professional Management

The funds available in GREAT Prestige Portfolio are managed by established and recognized award-winning fund managers. This ensures that your investments are handled by experienced professionals with a track record of success.

Flexible Switching

GREAT Prestige Portfolio allows fund switching at no additional cost, subject to change at any time. This flexibility enables you to adjust your portfolio as market conditions or your financial goals change.

Dividend Options

The product includes a selection of dividend-paying funds. You have the option to reinvest these dividends or receive them as payouts, providing additional flexibility in managing your investment returns.

Fees and Charges

Understanding the fees and charges associated with GREAT Prestige Portfolio is crucial for making an informed decision. While the product details don't provide specific percentages for all charges, they do mention some important aspects. Here's an overview of the key fees and charges you should be aware of when considering this investment-linked plan.

Premium Charge

A Premium Charge of 2% is deducted from each payment of the annual premium and Investment Top-up(s). This charge helps cover the costs associated with administering your policy.

Wrap Fee

A wrap fee of 1% per annum is applied to the Total Investment Value. This fee covers various services provided by the plan, including fund management and administration.

Fund Management Charge

While not explicitly stated, it's important to note that underlying funds typically have their own management fees. These fees are usually reflected in the fund's unit price and vary depending on the specific fund.

No Partial Withdrawal Charge

GREAT Prestige Portfolio allows you to make withdrawals regularly or as a lump sum without incurring partial withdrawal charges. This provides flexibility in accessing your funds when needed.

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Flexibility and Customization

GREAT Prestige Portfolio is designed to adapt to your changing financial needs and goals. The plan offers various features that allow you to customize your investment strategy and adjust your coverage as your life circumstances evolve. Let's explore the key aspects of flexibility and customization that make GREAT Prestige Portfolio a versatile choice for investors.

Flexible Premium Options

You can build your investment portfolio through regular premium cash contributions, recurring single premiums via SRS, or a lump sum single premium of at least S$20,000. This flexibility allows you to choose the premium payment method that best suits your financial situation.

Adjustable Contributions

GREAT Prestige Portfolio allows you to adjust your premium contribution, make top-ups, or change premium apportionment according to your changing financial goals. This feature enables you to adapt your investment strategy as needed.

Easy Withdrawals

With no minimum lock-in investing period, you have the flexibility to make withdrawals regularly for a steady stream of income or as a lump sum to finance purchases. This feature allows you to access your funds without incurring partial withdrawal charges.

Fund Switching

GREAT Prestige Portfolio offers fund switching at no additional cost, subject to change at any time. This allows you to adjust your investment allocation as market conditions or your risk appetite changes.

Conclusion

GREAT Prestige Portfolio offers a versatile investment-linked plan that can cater to various investor profiles. It may be particularly suitable for successful individuals looking to combine life insurance protection with wealth accumulation opportunities. The plan's flexibility in premium payments, fund choices, and withdrawals makes it attractive for those who value adaptability in their financial planning. Additionally, investors seeking professional fund management and a wide range of investment options may find GREAT Prestige Portfolio appealing.
. This unique opportunity allows you to compare various approaches and find the best fit for your needs. Plus, by participating, you'll be entered into our 'Premiums On Us' campaign, where you could win your quarterly insurance premiums paid by Whatins. Don't miss this chance to make an informed decision about your financial future while potentially saving on your insurance costs!