Everything to Know About the Great Eastern Endowment Plan

Endowment plan

Great Eastern Hospital Cash Plan

The Great SP Series 12 is a two-year Single Premium endowment plan that provides guaranteed returns of 3.50% per annum. Here’s what you need to know about it.

What is an endowment insurance plan?

An endowment insurance plan is akin to a savings plan to help you meet specific financial goals, with a part of your premium going towards insurance coverage while the rest is invested and subject to risk.

Payment for the plan can be done as a lump sum (“single premium”), or regularly throughout the premium payment period (“regular premiums”).

Endowment insurance plans come with varying maturity periods. Some span up to 15 years, while others have shorter maturity periods like the Great Eastern SP Series 12 underwritten by Great Eastern.

In case of your demise, an endowment insurance plan would pay a death benefit, although the sum may differ from plan to plan. For the Great Eastern SP Series 12 Endowment Plan, 105% of your premium will be paid upon death if the policy is still in force. That means a sum of S$10,500 will be paid out to your claimant or beneficiary if you paid S$10,000 for this policy.

           

 

What is the Great Eastern Series 12 Endowment Plan?

Details 

Great Eastern SP series 12 (Tranche Closed)

Premium 

Single premium

Maturity Period 

2 years

Premium Amount

S$10,000 (minimum amount) 

      

Maturity Return

3.50% p.a. guaranteed returns upon maturity

Death/TPD Benefit 

105% of a single premium 

Policy Protection

Up to specified limits by SDIC

Underwriting Requirements

No medical assessment required

 

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The Great Eastern SP Series 12 is a single-premium, non-participating life insurance savings plan. It has a maturity period of two years* and requires a minimum premium of S$10,000. You are guaranteed, on top of 100% capital preservation, a 3.50% per annum return as a maturity benefit upon completing the policy term. 

Upon death or TPD, there is a benefit of 105% (exclusions apply) of the premium paid. Policy Protection will be up to specified limits by SDIC.(Kindly refer to their Product Summary for more details)

*As this is a limited tranche, it is available on a first-come first-served basis.

 

 EASY Online Application Using Singpass MyInfo

 

Summary of GREAT SP Series 12

Highlights of the plan include:

  • Short two-year commitment
  • 100% capital guaranteed at the end of two-year policy term
  • High interest rates at 3.50% p.a.
  • Comes with insurance coverage for Death/Total and Permanent Disability

         

How can I learn more about the Great Eastern SP Series 12?

Click here to find out more!

 

Read More: 
VC Compares: Endowment Plans vs ILPs — Which Should You Get?
Best Endowment and Insurance Savings Plan in Singapore
Guide to Health Insurance Plans in Singapore (2023)

 

Protected up to specified limits by SDIC. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation or endorsement by AMTD PolicyPal Group in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. You may wish to seek advice from a qualified adviser before buying the product. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.

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