GREAT Retire Income
Enjoy your golden years with monthly retirement income
Enjoy monthly retirement income
Capital guaranteed
This is not a fixed or savings deposit. It is an endowment insurance plan.
Mr Lim wants to
Mr Lim wants to
Mr Lim selects a retirement age of 56 as he prefers to receive his monthly income earlier even if the amount is slightly lower.
Age 46 years old
46 years old
Selected retirement age 56 years old
56 years old
Selected annual premium
15,000 SGD
15,000 SGD
Selected payment term 10 years
10 years
Choice of income period
All ages specified refer to age next birthday. All figures in the above illustration are based on illustrated investment rate of return of the participating fund at 4.25% per annum and are subject to rounding. Mr Lim will receive monthly income at the end of each policy month, starting from the policy anniversary when he reaches his selected retirement age. Monthly income includes guaranteed and non-guaranteed returns. Please refer to the policy illustration for the exact values. Based on illustrated investment rate of return of 3.00% per annum, the monthly income will be 1,970 SGD and the total benefits received over the income period will be 236,480 SGD. This rate is not guaranteed and can be changed from time to time. The actual benefits payable may vary according to the future experience of the participating fund.
All ages specified refer to age next birthday. All figures in the above illustration are based on illustrated investment rate of return of the participating fund at 4.25% per annum and are subject to rounding. Mr Lim will receive monthly income at the end of each policy month, starting from the policy anniversary when he reaches his selected retirement age. Monthly income includes guaranteed and non-guaranteed returns. Please refer to the policy illustration for the exact values. Based on illustrated investment rate of return of 3.00% per annum, the monthly income will be 1,169 SGD and the total benefits received over the income period will be 280,720 SGD. This rate is not guaranteed and can be changed from time to time. The actual benefits payable may vary according to the future experience of the participating fund.
All ages specified refer to age next birthday. All figures in the above illustration are based on illustrated investment rate of return of the participating fund at 4.25% per annum and are subject to rounding. Mr Lim will receive monthly income at the end of each policy month, starting from the policy anniversary when he reaches his selected retirement age. Monthly income includes guaranteed and non-guaranteed returns. Please refer to the policy illustration for the exact values. Based on illustrated investment rate of return of 3.00% per annum, the monthly income will be 791 SGD and the total benefits received over the income period will be 94,980 SGD. This rate is not guaranteed and can be changed from time to time. The actual benefits payable may vary according to the future experience of the participating fund.
All ages specified refer to age next birthday. All figures in the above illustration are based on illustrated investment rate of return of the participating fund at 4.25% per annum and are subject to rounding. Mr Lim will receive monthly income at the end of each policy month, starting from the policy anniversary when he reaches his selected retirement age. Monthly income includes guaranteed and non-guaranteed returns. Please refer to the policy illustration for the exact values. Based on illustrated investment rate of return of 3.00% per annum, the monthly income will be 435 SGD and the total benefits received over the income period will be 104,560 SGD. This rate is not guaranteed and can be changed from time to time. The actual benefits payable may vary according to the future experience of the participating fund.
More information
Capital guaranteed
Capital guarantee is on the condition that no policy alterations are made.
All ages specified refer to age next birthday.
Disability refers to the inability to perform the following Activities of Daily Living (ADLs)
Disability refers to the inability to perform the following Activities of Daily Living (ADLs) without the continual physical assistance of another person throughout the entire activity.
Washing
The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.
The ability to wash in the bath or shower (including getting into and out of the bath or shower) or wash by other means.
Dressing
The ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.
The ability to put on, take off, secure and unfasten all garments and, as appropriate, any braces, artificial limbs or other surgical or medical appliances.
Feeding
The ability to feed oneself food after it has been prepared and made available.
The ability to feed oneself food after it has been prepared and made available.
Toileting
The ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.
The ability to use the lavatory or manage bowel and bladder function through the use of protective undergarments or surgical appliances if appropriate.
Walking or moving around
The ability to move indoors from room to room on level surfaces.
The ability to move indoors from room to room on level surfaces.
Transferring
The ability to move from a bed to an upright chair or wheelchair, and vice versa.
The ability to move from a bed to an upright chair or wheelchair, and vice versa.
Unable to perform at least 2 ADLs:
Additional 50% of guaranteed monthly income (capped at 2,500 SGD per month)
Unable to perform at least 3 ADLs:
Additional 100% of guaranteed monthly income (capped at 5,000 SGD per month)
The inability to perform any Activities of Daily Living will need to be assessed by a medical practitioner.
Terminal illness and death coverage applies throughout policy term.
A lump sum death benefit will be payable upon death or 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 medical practitioner and when required the Life Assured must undergo medical examination by a medical practitioner appointed by Great Eastern.
Total & Permanent Disability Benefit
| Coverage period | Definition |
|---|---|
| Until selected retirement age |
Presumptive TPD refers to the following total and irrecoverable loss of:
|
| Until selected retirement age or age 65, whichever is earlier | Non presumptive TPD refers to an irrecoverable state of incapacity to perform any work or occupation to earn any income. |
You are advised to read the policy contract for the exact definitions and full list of exclusions.
If you pay with SRS, your monthly payouts will be accumulated with Great Eastern.
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).
Important notes
GREAT Retire Income 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 1 October 2021.