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GREAT Term Direct | Affordable Term Life Insurance

Affordable term life protection made easy

Ensuring you have access to life insurance is extremely vital so that your family can lead their lives comfortably with no financial worries, even in your absence. Discover new plans with Great Eastern Malaysia for securing your and your family’s financial needs.

GREAT Term life Direct is an affordable term life protection plan that can be purchased directly from Great Eastern Life without any intermediaries involved in sales or marketing. The plan provides essential coverage with a reasonably low premium payment and allows you to choose your preferred sum assured amount that suits your financial and protection needs.

Great Eastern Life Assurance (Malaysia) Berhad (93745-A) is licensed under the Financial Services Act 2013 and is regulated by Bank Negara Malaysia.

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Product Summary View Product Brochure Product Summary Product Disclosure (English) Product Summary Product Disclosure (Bahasa Malaysia)

Key benefits

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    Affordable premiums till 80 years

    You will receive protection till the age of 80 years next birthday1. 
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    Financial cushion during bereavement

    Your loved ones will receive the first RM5,000 of the Basic Sum Assured upfront upon the death of the Life Assured2,1. 
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    Death Benefit

    If death occurs, the balance of the Basic Sum Assured will be payable after deduction of the Bereavement Benefit1.
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    Total and Permanent Disability (TPD) Benefit

    If TPD occurs prior to age 65 years next birthday, you will receive the Basic Sum Assured in accordance with the TPD provisions of your policy1.
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    Easy application

    It is easy for you to obtain the protection you need. You just need to answer some simple health related questions and are not required to undergo any medical examinations in order to apply for this plan. All insurance applications are subject to Great Eastern Life’s underwriting and acceptance1.

Your questions answered

1. What is GREAT Term Direct?

GREAT Term Direct is a non-participating term plan with guaranteed renewal until 80 years next birthday.

2. What are the benefits under this plan?

• Bereavement Benefit
• Death Benefit
• Total and Permanent Disability (TPD) Benefit

3. Is this product suitable for me?

This product is suitable if you are looking for a non-participating term plan that provides coverage in the event of death or Total and Permanent Disability (“TPD”). You should satisfy yourself that this plan will best serve your needs and that the premium payable under the policy is an amount you can afford.

1. Who can purchase?

• Individuals aged 18 to 60 years next birthday
• A Malaysian citizen residing in Malaysia (Malaysian PR is excluded), who
- has a valid Malaysian mobile number
- has a valid email address
- is the beneficial owner who ultimately owns and/or has effective control over the policy purchased
- does not have pre-existing health and medical conditions

The eligibilities highlighted here are not exhaustive. Full eligibility checklist is available on our website at greateasternlife.com/my/direct.

2. Where can I purchase this plan?

You can purchase this plan directly from our website at greateasternlife.com/my/direct. No intermediaries are involved in the sales or marketing of GREAT Term Direct.

3. What documents do I need to provide?

You need to upload soft copies of NRIC front and back in PDF, PNG, JPG, BMP or GIF format. Maximum file size is 2MB each.

4. Can I purchase more than 1 plan?

Yes, you may purchase more than one GREAT Term Direct plan subject to the maximum aggregate coverage amount of RM500,000 per life.

1. How much Basic Sum Assured can I purchase?

There are 5 Basic Sum Assured options for you to choose - RM100,000, RM200,000, RM300,000, RM400,000 and RM500,000.

2. How much coverage do I need?

Click here and continue to get a quote to find out your coverage needs and affordability.

3. What happens in the event of death during the policy’s term?

Your loved ones will receive an upfront amount of RM5,000 from the Basic Sum Assured as Bereavement Benefit. The balance of the Basic Sum Assured will be payable in one lump sum as Death Benefit after deduction of Bereavement Benefit.

4. What happens if Total & Permanent Disability (TPD) occurs?

If TPD occurs prior to age 65 years next birthday, you will receive the Basic Sum Assured in accordance with the TPD provisions of your policy.

1. How much premiums do I have to pay?

The premium that you have to pay for this plan is based on your chosen Basic Sum Assured and premium mode. The premiums are to be paid up to 80 years next birthday. Premium varies by attained age next birthday, gender, smoker status and the premium will increase as you get older.

2. How do I pay my premiums?

You have the flexibility to pay your premium annually, half-yearly, quarterly or even monthly by credit card or debit card (issued by local banks).

3. What happens if I do not pay my premium?

You have 30-days Grace Period from the premium due date to pay the renewal premium, after which the policy will lapse if the premium remains unpaid upon the expiry of the Grace Period.

4. Will I receive any notification if there is a revision of premium for my policy?

No, you may check on the revised premium based on your attained age in your policy document.

1. What are some of the exclusions of the plan?

No benefit is payable under the following circumstances:
• Death during the first policy year from the risk commencement date or from the date of any reinstatement of the policy, whichever is later, as a result of suicide, while sane or insane.
• TPD resulting from self-inflicted injuries, while sane or insane.

The exclusions highlighted here are not exhaustive. Full details are available in the policy document.

*Please take note that before you can proceed with any policy servicing request, you are required to perform a one-time signature update Over-the-Counter. You may visit our Customer Service Centre at our Head Office or any of our branches for the signature update.

1. How do I check the status of my application?

You will be notified via email on your application status within 5 working days. If your application is accepted, you will receive your electronic policy contract via e-Connect. If you have not received any email after 5 working days, please write in to wecare-my@greateasternlife.com with your full name and NRIC number.

2. How do I access or view my electronic policy (ePolicy) contract?

Once your policy is inforce, you will be notified via SMS and email to sign up or log in to e-Connect to view your ePolicy contract within 2 working days. For first-time users, you will need to sign up for an e-Connect account.

3. What should I do after I have viewed my ePolicy contract?

After you have viewed your ePolicy contract, remember to acknowledge receipt of the policy document, by selecting on the Acknowledge checkbox for the selected policy, followed by “I acknowledge receipt of the policy document” checkbox and Continue button.

4. What do I need to do if I have any policy servicing request*?

You can login to e-Connect and select My Service Request tab to use the online policy servicing for change of payment method/frequency or click on My Mailbox to send your enquiry through our secured mail.

5. How do I make a Nomination?

You can make a nomination by filling up Appointment / Change Of Nominee(s) / Trustee (s) Form* and mail the form to our Head Office or any of our branches.

6. How do I appoint a Trustee?

You can appoint trustee by filling up Appointment / Change Of Nominee(s) / Trustee (s) Form* and mail the form to our Head Office or any of our branches.

However, if your form is not completed with a witness detail and signature, please present to our Customer Service Centre at our Head Office or any of our branches together with the person(s) you wish to appoint as the Trustee to complete the Appointment / Change Of Nominee(s) / Trustee (s) Form* and update your Trustee’s signature Over-the-Counter.

7. Can I change my sum assured?

You may decrease your sum assured at any time according to the available 5 options (no other Basic Sum Assured other than the 5 options is allowed), subject to the minimum sum assured limit. Decrease in sum assured will take effect from next premium due date. However, increase in sum assured is not allowed after policy is inforce.

8. Can I reinstate my policy?

Your policy can be reinstated within 3 months from the lapsed date with no underwriting required. Please pay the outstanding payment/s inclusive of interest (if any) within 3 months from the lapse date.

9. Can I cancel my policy?

If you cancel your policy within the free-look period of 15 days, the full premium will be refunded to you. You may submit your cancellation request in writing*.

10. How do I get my Premium Statement for income tax declaration?

You can login to e-Connect and select My Portfolio/e-Document tab to view/print your yearly Premium Statement (SLAPP) for income tax declaration.

1. How do I make a claim?

Documents required vary according to type of claims. Click here for a step by step guide on making a claim.

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Understand the details before buying

1 Terms and conditions apply.

2 The payment of the Bereavement Benefit does not constitute an admission of liability by the Company to pay the balance of Basic Sum Assured.

GREAT Term Direct is a non-participating term plan with guaranteed renewal until 80 years next birthday. You should satisfy yourself that this plan will best serve your needs and that the premium payable under the policy is an amount you can afford. A free-look period of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the full premium would be refunded to the policy owner minus the expenses incurred for the medical examination, if any. If you switch your policy from one company to another or if you exchange your current policy with another policy within the same company, you may be required to submit an application where acceptance of your proposal will be subject to the terms and conditions to be imposed at the time of policy switching or replacement.

Cessation of premium payment before the end of the premium payment term may lead to early termination of coverage. Great Eastern Life reserves the right to revise the premiums of GREAT Term Direct by giving at least 3 months’ notice.

The above is for general information only. It is not a contract of insurance. You are advised to refer to the Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted above are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life.

The terms “Great Eastern Life” and “the Company” shall refer to Great Eastern Life Assurance (Malaysia) Berhad.

The benefit(s) payable under eligible policy/product is(are) protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure or contact Great Eastern Life Assurance (Malaysia) Berhad or PIDM (visit www.pidm.gov.my).

Information correct as of 23 May 2024.