Endowment

Prestige Life Rewards Series: Building Your Legacy with Lifetime Payouts

Are you looking for a way to secure your financial future and leave a lasting legacy for your loved ones? The Prestige Life Rewards Series from Great Eastern Life might be the solution you've been searching for. This comprehensive guide will walk you through everything you need to know about these innovative whole life participating plans.

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What is the Prestige Life Rewards Series?

The Prestige Life Rewards Series is a collection of three whole life participating plans designed to help you build and preserve wealth for generations to come . These plans offer:

  1. Lifetime monthly payouts
  1. Coverage against death and terminal illness
  1. Options in Singapore Dollar (SGD) or US Dollar (USD)
  1. A single premium payment for lifelong benefits

Let's dive deeper into what makes these plans unique and how they can benefit you and your family.

Three Plans to Choose From

Prestige Life Rewards 5 (SGD)

Ideal for: Those seeking better liquidity with early payouts in SGD b>Key feature: Monthly payouts start from the 3rd policy year b>Payout rate: Up to 3.35% per annum of the single premium paid

Prestige Life Rewards 4 (USD)

Ideal for: Those preferring USD currency with the earliest payouts b>Key feature: Monthly payouts start from the 2nd policy year b>Payout rate: Up to 4.10% per annum of the single premium paid

Prestige Life Rewards 5A (SGD)

Ideal for: Those prioritizing higher accumulated value for inheritance b>Key feature: Monthly payouts start from the 5th policy year b>Payout rate: Up to 3.00% per annum of the single premium paid b>Benefit: Potentially higher policy value due to longer accumulation period

Why compare Prestige Life Rewards Series 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.

Key Benefits of the Prestige Life Rewards Series

One-time Commitment, Lifetime Rewards

With a single premium payment, you secure lifetime monthly payouts and the ability to transfer wealth to future generations.

Early Payouts in Your Preferred Currency

Choose between SGD and USD plans, with payouts starting as early as the 2nd policy year .

Potential for Higher Inheritance

The Prestige Life Rewards 5A (SGD) offers a longer accumulation period, potentially resulting in a higher policy value for your beneficiaries .

Flexibility to Meet Changing Financial Needs

All plans offer a guaranteed surrender value of 80% of the single premium from day one , providing liquidity when you need it most.

Lifelong Protection

Coverage against death and terminal illness for your entire life , ensuring your family's financial security.

How the Plans Work: Real-Life Scenarios

Prestige Life Rewards 5 (SGD) - The Early Liquidity Option

Walter, 40, invests S$300,000 for his 5-year-old daughter, Chloe. b>Monthly payout: S$837 from 3rd policy year b>Total potential benefits: S$1,243,180 (4.14 times the single premium paid)

Prestige Life Rewards 5A (SGD) - The Higher Inheritance Option

Martin, 40, invests S$500,000 for his 5-year-old son, Joshua. b>Monthly payout: S$1,250 from 5th policy year b>Total potential benefits: S$3,360,429 (6.72 times the single premium paid)

Prestige Life Rewards 4 (USD) - The USD Early Liquidity Option

William, 40, invests US$500,000. b>Monthly payout: US$1,709 from 2nd policy year b>Total potential benefits: US$1,495,984 (2.99 times the single premium paid)

Important Considerations

  • Currency Risk: Be aware of potential foreign exchange volatility if choosing the USD plan.

  • Non-Guaranteed Benefits: Some benefits depend on the performance of the participating fund.

  • Early Termination Costs: Surrendering early may result in receiving less than the total premiums paid.

  • Long-Term Commitment: These plans are designed for long-term financial planning and wealth transfer.

Frequently Asked Questions

Can I change my plan after purchase?

It's best to consult with a Great Eastern representative about any changes after purchase.

What happens if I need to access my funds before the payout period?

All plans offer a guaranteed surrender value of 80% of the single premium from day one .

Are the payouts guaranteed?

The plans offer both guaranteed and non-guaranteed benefits. Actual payouts may vary based on the participating fund's performance.

Can I purchase multiple plans?

Yes, you can purchase multiple plans to diversify your portfolio or meet different financial goals.

Is there an age limit for purchasing these plans?

Specific age limits aren't mentioned. Consult with a Great Eastern representative for personalized advice.

Conclusion

The Prestige Life Rewards Series offers a unique opportunity to secure your financial future and leave a lasting legacy for your loved ones. With options for early liquidity, higher inheritance value, and choice of currency, these plans can be tailored to meet your specific wealth management goals.

However, as with any significant financial decision, it's crucial to carefully consider your personal circumstances, risk tolerance, and long-term objectives before committing to a plan.

Ready to take the next step in securing your financial legacy? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on wealth management and legacy planning. These professionals will review your specific needs and provide personalized recommendations, helping you make the most informed decision possible.

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