GREAT Term Plan: Affordable Lifetime Protection for Your Peace of Mind

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 the GREAT Term Plan from Great Eastern Life Assurance Company – a flexible and affordable term insurance solution designed to provide you with peace of mind throughout your life journey.

Insurance Calculator

Find the right coverage in minutes

Discover Your Ideal Coverage

Use our advanced calculator to get personalized insurance recommendations

Accurate Estimates
Get precise coverage recommendations based on your needs
Save Time
Receive instant results without lengthy consultations
Personalized Analysis
Get tailored recommendations based on your unique situation

Insurance Calculator

Find the right coverage in minutes

Accurate coverage estimates
Save time with instant results
Personalized recommendations

What is the GREAT Term Plan?

The GREAT Term Plan is a customizable term insurance policy that offers coverage against death and terminal illness . What sets it apart is its flexibility, affordability, and the option to add supplementary riders for enhanced protection. Whether you're just starting your career, building a family, or planning for retirement, this plan can be tailored to meet your changing needs at different life stages.

Key Features That Make GREAT Term Stand Out

Affordable Lifetime Coverage

Protect yourself against death and terminal illness for up to a lifetime . Premiums start from as low as S$0.86 per day*.

Customizable Protection

Add optional riders to cover Total and Permanent Disability (TPD). Include coverage for up to 121 critical illness conditions.

Easy Online Application

Secure coverage of up to S$300,000 in just 10 minutes . Answer only two health questions for quick approval.

Future-Proof Your Coverage

Option to convert your term plan to a life policy with cash value. Conversion available regardless of your future health status.

Real premiums suggested for Great Term Plan

37, Female making $5,000 a month

Coverage:

death

$300,000

critical illness

$300,000

terminal illness

$300,000

Premium:

$1,897.45

28, Male making $5,000 a month

Coverage:

till 85:

death

$25,000

critical illness

$180,000

early critical illness

$180,000

Premium:

$832.05

30, Male making $5,000 a month

Coverage:

till 65:

$300,000

eci

$300,000

death

$25,000

multi pay:

$900,000

eci

$900,000

Premium:

$1,502.3

22, Female making $2,300 a month

Coverage:

$150,000

eci

$150,000

death

$25,000

multi pay

$450,000

Premium:

$1,559.25

24, Male making $5,000 a month

Coverage:

death tpd

$600,000

critical illness

$300,000

Premium:

$3,252.6

Age	What suggestion covers	Premium
37, Female making $5,000 a month	death $300,000 critical illness $300,000 terminal illness $300,000	$1,897.45 Read More
28, Male making $5,000 a month	till 85: death $25,000 critical illness $180,000 early critical illness $180,000	$832.05 Read More
30, Male making $5,000 a month	till 65: ci $300,000 eci $300,000 death $25,000 multi pay: ci $900,000 eci $900,000	$1,502.3 Read More
22, Female making $2,300 a month	ci $150,000 eci $150,000 death $25,000 multi pay $450,000	$1,559.25 Read More
24, Male making $5,000 a month	death tpd $600,000 critical illness $300,000	$3,252.6 Read More

Get your own quotes →

Detailed Breakdown of Coverage Options

Basic Coverage: GREAT Term

Provides protection against death and terminal illness. Coverage available up to age 100.

Optional TPD Benefit

Adds protection against Total and Permanent Disability. Compulsory when purchased online, optional through a financial representative.

Critical Illness Riders

Living Care Rider: Covers critical stage critical illnesses. Complete Living Care Rider: Covers early, intermediate, and critical stage critical illnesses. (Available through financial representatives)

How Much Coverage Can You Get?

The GREAT Term Plan offers flexible coverage amounts to suit your needs and budget. Here's an example of how it works:

Mark, a 35-year-old non-smoker, chooses the following coverage:

GREAT Term with TPD Benefit: S$300,000 (up to age 100)

Living Care Rider: S$100,000 (40-year term)

Complete Living Care Rider: S$100,000 (40-year term)

Total Monthly Premium: S$211.25 (S$139.35 for basic coverage + S$71.90 for CI riders)

Real-Life Scenarios: How GREAT Term Protects You

Age 35: Mark starts his GREAT Term Plan

Full coverage in place: S$300,000 for death, terminal illness, and TPD. Additional S$200,000 for critical illnesses.

Age 45: Early Stage Bladder Cancer Diagnosis

Receives S$100,000 lump sum from Complete Living Care Rider. Remaining coverage: S$300,000 for death, terminal illness, and TPD; S$100,000 for critical illnesses.

Age 60: Total and Permanent Disability

Receives S$100,000 lump sum from TPD Benefit. Remaining coverage: S$200,000 for death and terminal illness; S$100,000 for critical illnesses.

Age 65: End Stage Kidney Failure Diagnosis

Receives final S$100,000 lump sum from Living Care Rider. Remaining coverage: S$200,000 for death and terminal illness.

Why Compare Great Term Plan with other Term Life Options through Whatins?

Traditional Approach

Limited term length options from one insurer
May push longer terms than needed

Whatins Advantage

Compare term lengths across multiple insurers
See how different term life insurance periods affect premiums
Understand renewal options across insurers
See competing term length justifications and determine which one is best for you

Premiums and Affordability

One of the most attractive features of the GREAT Term Plan is its affordability. Let's break down the costs:

For a 35-year-old non-smoker like Mark:

Basic coverage (S$300,000, up to age 100): S$139.35 per month

CI riders (S$200,000, 40-year term): S$71.90 per month

Total: S$211.25 per month

It's important to note that while the basic coverage premiums are guaranteed, the CI rider premiums may be adjusted based on future experience.

For younger individuals, the premiums can be even more affordable. A 25-year-old non-smoking male can get S$300,000 coverage for death, terminal illness, and TPD for just S$311.95 per year – that's only S$0.86 per day!

Flexibility for the Future

Life is unpredictable, and your insurance needs may change over time. The GREAT Term Plan offers a unique conversion privilege that allows you to adapt your coverage as your life evolves:

Convert your term plan to a life policy with cash value

Convert TPD and CI riders to equivalent or similar coverage

No medical underwriting required for conversion

Available anytime during the policy term (subject to prevailing rules)

This feature ensures that your coverage can grow and change with you, providing lifelong peace of mind.

Easy Application Process

In today's digital age, convenience is key. The GREAT Term Plan offers a streamlined online application process:

Answer just two health questions

Get coverage up to S$300,000 for death, terminal illness, and TPD

Complete the process in as little as 10 minutes

No medical appointments necessary

This hassle-free approach makes it easier than ever to secure essential life insurance coverage.

Who Should Consider the GREAT Term Plan?

The GREAT Term Plan is ideal for:

Young professionals starting their careers

Newlyweds planning for the future

Parents looking to protect their family's financial security

Individuals seeking affordable, long-term life insurance coverage

Anyone who wants the flexibility to adjust their coverage over time

Pros and Cons

Pros

Affordable premiums for comprehensive coverage
Flexibility to add riders for enhanced protection
Easy online application for basic coverage
Option to convert to a cash value policy in the future
Coverage available up to age 100

Cons

CI rider premiums are not guaranteed and may increase
Online purchase limited to death, terminal illness, and TPD coverage
No savings or investment component

Frequently Asked Questions

Can I purchase this plan if I have pre-existing conditions?

The online application is subject to two health questions. For more complex health situations, consult a Great Eastern Financial Representative.

Is the premium fixed throughout the policy term?

Basic coverage premiums are guaranteed, but CI rider premiums may be adjusted.

Can I increase my coverage amount later?

You may need to apply for additional coverage. Consult with Great Eastern for specific options.

What happens if I stop paying premiums?

The policy will lapse after the grace period, and you'll lose coverage.

Is there a cash value if I surrender the policy?

No, this is a term insurance plan with no savings or investment component.

Conclusion

The GREAT Term Plan offers a compelling solution for those seeking affordable, flexible, and comprehensive life insurance coverage . With its customizable options, easy application process, and unique conversion privilege, it provides a solid foundation for your financial protection strategy.

However, as with any financial decision, it's essential to carefully consider your personal needs, budget, and long-term goals. While the GREAT Term Plan offers many advantages, it may not be the perfect fit for everyone.

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.

Click here to get 5 expert opinions on term life insurance

By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best coverage for your needs. Don't leave your family's financial security to chance – get the expert advice you deserve today.

Get 5 Expert Opinions on Term Life Insurance