There are a total of 4 premium payment options – Single Premium, or Regular Premium over 5 years, 10 years, or 15 years. For Regular Premium payment option, you can choose to pay your premiums either monthly or annually.
GREATLife Endowment Insurance 3
Multiply your potential returns to meet your changing life goals
Features and benefits
Grow your wealth at up to 3.58% a year and more
Based on entry age of 25, retirement age of 65 and premium payment term of 10 years.
Based on entry age of 25, retirement age of 65 and premium payment term of 10 years.
Flexibility to fund life’s milestones
As long as there is a cash value. Basic sum assured will be reduced.
As long as there is a cash value. Basic sum assured will be reduced.
Enjoy guaranteed capital
From the end of the 10th policy year, 15th policy year, or 20th policy year, depending on the premium payment option selected, if no policy alterations are made.
From the end of the 10th policy year, 15th policy year, or 20th policy year, depending on the premium payment option selected, if no policy alterations are made.
Continue your policy with your loved one
Insure another loved one. If the unfortunate happens, the policy will insure your appointed loved one and continue to grow.
Insure another loved one. If the unfortunate happens, the policy will insure your appointed loved one and continue to grow.
No health check-up needed
No medical underwriting is required.
No medical underwriting is required.
This is not a fixed or savings deposit. It is an endowment insurance plan.
Grow your wealth at up to 3.58% a year and more
Based on entry age of 25, retirement age of 65 and premium payment term of 10 years.
Flexibility to fund life’s milestones
As long as there is a cash value. Basic sum assured will be reduced.
Enjoy guaranteed capital
From the end of the 10th policy year, 15th policy year, or 20th policy year, depending on the premium payment option selected, if no policy alterations are made.
Continue your policy with your loved one
Insure another loved one. If the unfortunate happens, the policy will insure your appointed loved one and continue to grow.
No health check-up needed
No medical underwriting is required.
This is not a fixed or savings deposit. It is an endowment insurance plan.
How it works
Based on a yearly premium of SGD for years
Cashing out the policy after years
See how your payout changes with different premium and policy durations.
Pay annual premium of SGD for years
Total annual premiums paid ( years): SGD
Year 15
Capital guaranteed at end of Policy Year 15
Year 15
Total payout of 0 SGD
0x of total premiums paid
Illustrated return upon full surrender: 0% a year
Total payout
0 SGD
Guaranteed cash value
+
0 SGD
Non-guaranteed bonus
=
0 SGD
The figures used are for illustrative purposes only and are subject to rounding. Please refer to the policy illustration for the exact values. Premiums are computed based on premium payment term. The non-guaranteed bonuses are based on an illustrated investment rate of return of the participating fund at 4.25% a year. At an illustrated investment rate of return of the participating fund at 3.00% a year, the total payout at the end of policy year 0 will be 0 SGD and the return will be 0% a year. The actual benefits payable will vary according to the future performance of the participating fund.
Based on a single premium of SGD for years
Cashing out the policy after years
See how your payout changes with different premium and policy duration.
Pay single premium of SGD (Only applicable for payment via SRS account)
Year 15
Capital guaranteed at end of Policy Year 10
Year 10
Total payout of 0 SGD
1x of total premiums paid
0% yield
Total payout
0 SGD
Guaranteed cash value
+
0 SGD
Non-guaranteed bonus
=
0 SGD
The figures used are for illustrative purposes only and are subject to rounding. Please refer to the policy illustration for the exact values. Premiums are computed based on premium payment term. The non-guaranteed bonuses are based on an illustrated investment rate of return of the participating fund at 4.25% a year. At an illustrated investment rate of return of the participating fund at 3.00% a year, the total payout at the end of policy year 0 will be 0 SGD and the return will be 0% a year. The actual benefits payable will vary according to the future performance of the participating fund.
Before you apply
Eligibility requirements
Minimum age
15 days from birth or discharge from hospital, whichever is later
Maximum age
70 years old (age next birthday) for Single Premium and Regular Premium (5-year and 10-year) payment options
65 years old (age next birthday) for Regular Premium (15-year) payment option
Common questions
More questions and answersWhat are the premium payment options?
Can I pay through my Supplementary Retirement Scheme (SRS) account?
Yes, SRS payment is allowed for Single Premium mode only, with a minimum single premium of S$15,000. Note that the minimum entry age for SRS payment is 19 years old (age next birthday).
Can I purchase GREATLife Endowment Insurance 3 if I have pre-existing health conditions?
Yes, you can. However, if the life assured passes away due to a pre-existing condition within 12 months from the date the policy was issued, the policy will be void and all the premiums paid (less any debt, benefits and/or bonuses paid under the policy) will be refunded. Payment of Terminal Illness (TI) benefit or Total and Permanent Disability (TPD) benefit will not be made if the life assured has pre-existing TI or pre-existing TPD, or pre-existing conditions that lead to a TI or TPD event within 12 months from the date the policy was issued.
Can I make a partial surrender if I need the cash proceeds for my personal use during the policy term?
Yes, provided there is cash value in your policy. Note that if you make a partial surrender, it will reduce the basic sum assured which may affect the amount of future bonuses payable (if any) under the policy. The policy will terminate upon full surrender of the policy. Terms and conditions apply.
More information
| Premium term | Capital guaranteed at the end of policy year |
|---|---|
| Single Premium | 10 |
| 5 years or 10 years | 15 |
| 15 years | 20 |
Capital guarantee is on the condition that no policy alterations are made.
Terminal Illness
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.
Total & Permanent Disability
Total & Permanent Disability refers to an irrecoverable state of incapacity to perform any work or occupation to earn any income.
It may also refer to the following total and irrecoverable disability:
- loss of sight in both eyes; or
- loss of the use of 2 limbs at or above the wrist or ankle; or
- loss of the sight in 1 eye and loss of the use of 1 limb at or above the wrist or ankle
You are advised to read the policy contract for the exact definitions and full list of exclusions.
Important notice
The illustrated return of 3.58% a year is based on entry age of 25, retirement age of 65, premium payment term of 10 years and an illustrated investment rate of return of the participating fund at 4.25% a year. Based on an illustrated investment rate of return of the participating fund at 3.00% a year, the illustrated return will be 2.30% a year.
GREATLife Endowment Insurance 3 is underwritten 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 30 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).