GREAT Lifetime Payout 2 Special
The plan that keeps on giving
Total benefits
Monthly payouts received over the years
$204,180
Lump sum inheritance
$181,366
$385,546
Early cancellation
What Ms Lim would get back over the years if she chooses
to cancel the plan
Ms Lim may get back less than what she paid if she cancels the policy anytime before the end of year 6.
Eligibility requirements
Minimum age
15 days from birth or discharge from hospital, whichever is later
Maximum age
75 years old (age next birthday)
More information
or contact us at 1800 363 3333
Our hotline is available 24 hours a day.
Calling from overseas? Please contact +65 6363 3333.
Important notice
GREAT Lifetime Payout 2 Special is provided by The Great Eastern Life Assurance Company Limited, a wholly owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group. This plan is not a bank deposit and OCBC Bank does not guarantee or have any obligations in connection with it.
This document does not take into account your particular investment and protection aims, financial situation or needs. You may want to seek advice from a financial adviser before committing to buy the product. If you choose not to seek advice from a financial adviser, you should consider whether the product is suitable for you.
As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
This document is for general information only. It is not a contract of insurance or an offer to buy an insurance product or service. It is also not meant to provide any insurance or financial advice. The specific terms and conditions of the plan are set out in the policy documents. If you are interested in the insurance policy, you should read the product summary and policy illustration (available from us) before deciding whether to buy this product.
We do not guarantee, represent or warrant that any of the information provided in this document is accurate and you should not rely on it as such. We do not undertake to update the information or to correct any inaccuracies. All information may change without notice. We will not be liable for any loss or damage arising directly or indirectly in connection with or as a result of you acting on the information in this document.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information presented as at 2 October 2023.
Policy Owners' Protection Scheme
This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).
Your monthly payout comprises guaranteed and non-guaranteed amounts. The total payout amount depends on the annual premium of your policy, as shown in the table below:
Based on an illustrated investment rate of return of the participating fund at 4.25% per annum |
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Annual premium | Guaranteed payout | Total payout |
$30,000 and above | From 43rd to 48th policy month: 3.28% p.a. From 49th policy month onwards: 0.85% p.a. |
Up to 3.28% p.a. |
Below $30,000 | From 43rd to 48th policy month: 3.15% p.a. From 49th policy month onwards: 0.80% p.a. |
Up to 3.15% p.a. |
Based on an illustrated investment rate of return of the participating fund at 3.00% per annum, the total payout is up to 2.19% per annum of the total annual premiums paid (for annual premium of $30,000 and above) and up to 2.04% per annum of the total annual premiums paid (for annual premium below $30,000).
This refers to 105% of your total annual premiums paid plus non-guaranteed bonuses (if any), less any indebtedness.
A lump sum death benefit will be payable on a definite diagnosis of an illness that is expected to result in the life assured's death within 12 months of the diagnosis.
The diagnosis has to be supported by a registered medical practitioner and when required, to be confirmed by Great Eastern's appointed medical practitioner.
Guaranteed payout | Non-guaranteed payout | |
Monthly payouts received over the years | $54,735 | $149,445 |
Lump sum inheritance | $157,500 | $23,866 |
Total benefits | $212,235 | $173,311 |