SMARTPROTECT Wealth Max | Limited Pay Investment-linked Insurance Plan
SMARTPROTECT Wealth Max | Limited Pay Investment-linked Insurance Plan
Financial assurance with optimal protection
In search of an investment-linked insurance plan with high coverage and financial assurance features to safeguard yourself and your loved ones? Meet SmartProtect Wealth Max, a limited-pay insurance plan with multiple savings component to ensure that you will be equipped with financial resources for your income protection and legacy creation needs, should the need arise.
The SmartProtect Wealth Max provides protection options up to 70, 80 or 90 years next birthday with flexible premium payment terms, high payout up to 300% basic sum assured for accidental death on public conveyances, and multiple booster rewards throughout your policy term. In addition to that, you may also receive a double maturity booster at the end of your policy term to aid in your wealth accumulation journey.
Safeguard yourself and your loved ones and plan your life with SmartProtect Wealth Max now.
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Key benefits
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Various coverage term options with flexible premium payment terms
SmartProtect Wealth Max provides you with a protection plan of up to 70, 80, or 90 years next birthday, with premium payment term options of 5, 10 or 20 years1.
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Multiple booster rewards to celebrate policy milestones
Depending on your entry age and coverage term, a booster reward3, 1 of up to 5% basic sum assured4 will be credited into your total investment value account1.
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Double maturity booster to enhance your savings
Once your policy matures, you will receive 100% of your total investment value plus maturity booster6,5,1 to boost up your wealth accumulation journey.
The maturity booster will double up if you have not made more than 5 partial withdrawals from the account, and all premiums due have been paid up to date1.
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Financial protection for life’s unexpected events
With coverage starting from RM500,000, SmartProtect Wealth Max helps ensure that you and your loved ones will not be financially burdened if the worst should happen, like death or TPD2,1.
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Double or triple coverage for accidental death
Upon accidental death prior to the policy anniversary of attained age 70 years next birthday, your loved ones will receive an additional 100% of the total of basic sum assured and any additional sum assured1.
For accidental death on public conveyance, an additional 200% of the total of basic sum assured and any additional sum assured will be payable to you1.
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Extra safety net of additional 5% sum assured every 10 years
Reap the resources you need from the plan’s extra safety net feature. Your coverage will increase by 5% of the basic sum assured every 10 policy years1, up to a maximum of 30% of the basic sum assured.
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High non-medical limit up to RM8.0million
Depending on your entry age and health condition, you may get protected up to RM8.0million without going through a medical check-up1.
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Optional conversion of your plan at maturity
Upon maturity of your SmartProtect Wealth Max plan7, you may purchase a level sum assured endowment or whole life policy without medical underwriting1.
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Security of No-Lapse Guarantee
SmartProtect Wealth Max comes with a No-Lapse Guarantee in the first 6 policy years. This valuable feature ensures that your policy will continue to remain in-force even if your total investment value becomes zero, so long as your premiums are paid consistently and no withdrawals are made in the first 6 policy years1 .
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Boosted protection with optional riders
You can enjoy greater peace of mind by attaching optional riders to your SmartProtect Wealth Max plan1.
Your questions answered
1. What is investment-linked insurance?
Investment-linked insurance plan (ILP) combines life insurance coverage with investment opportunities. You are given the option of investing in wide range of investment-linked fund(s) that best suits your risk appetite. This type of policy allows you to build wealth while staying protected.
1. Who can apply?
The minimum entry age is 14 days attained age and the maximum entry age is subject to the coverage term chosen, as shown in the table below:
Coverage Term |
Maximum entry age |
Up to 70 years next birthday |
45 years next birthday |
Up to 80 years next birthday |
65 years next birthday |
Up to 90 years next birthday |
70 years next birthday |
1. What are some of the exclusions under the plan?
No benefit is payable under the following circumstances:
- Death during the first policy year from the risk commencement date of the policy or the date of any reinstatement, whichever is later, as a result of suicide, while sane or insane;
- TPD caused directly or indirectly by self-inflicted injuries, while sane or insane;
- TPD that has existed prior to the risk commencement date of the policy or the date of any reinstatement, whichever is later;
- Accidental death benefit if death of the life assured does not occur within 90 days from the date of accident.
Note: The exclusions highlighted here are not exhaustive. Full details are available in the policy document.
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Understand the details before buying
1 Terms and conditions apply.
2 Coverage for Total and Permanent Disability (TPD) is only applicable for TPD that occurs prior to the policy anniversary on which the life assured attains age 75 years next birthday.
3 On the policy anniversary of age 65, 75, or 85 years next birthday, and every subsequent 10 years, depending on your entry age.
4 Based on a coverage term of more than or equal to 35 policy years.
5 The maturity booster payout varies by coverage term.
6 For coverage term of 90 years next birthday, the maturity booster will be payable if death occurs on or after the policy anniversary on which the life assured has attained age 80 years next birthday.
7 Maturity must not be later than the year in which you have attained age 80 years next birthday.
SmartProtect Wealth Max is a limited pay investment-linked insurance plan. Some of the choices of funds invest in Shariah-approved securities. However, this is not a Shariah-compliant product. This plan is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. Premiums are payable until the end of the premium payment term, or until death or TPD or termination of the policy, whichever comes first.
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 Company shall refund an amount equal to the sum of:
a. the total investment values of the policy based on the net asset value at the next valuation date; and
b. the investment values of the units which have been cancelled to pay for insurance charges and policy fees; and
c. the amount of premiums that have not been allocated;
minus the expenses incurred for medical examinations, if any.
Net asset value is the single price at which the policy owner buys the units in a unit fund and sells the units back to the unit fund. If you switch over 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 the acceptance of your proposal will be subject to the terms and conditions to be imposed at the time of the policy switching or replacement.
In cases where the purchase involves a premium of a sizeable amount (i.e. RM5,000 and more), you should consider purchasing a single premium investment-linked insurance plan as single premium plans offer better allocation rates for investment. However, please take note that single premium plans may not offer as much insurance protection as regular premium plans and may have less riders/supplementary benefits available.
You may stop paying the premiums and still enjoy protection as long as there is a sufficient total investment value to pay for the insurance charges, policy fee and supplementary benefit premiums, where applicable. However, there is a possibility of the policy lapsing when the required charges, including rider charges, exceed the value of the fund units available. Purchasing too many unit-deduction riders may deplete the fund units.
In the event the actual sustainability of the policy is reduced due to revisions to insurance charges, the Company may vary the Basic Annual Premium and any regular investment top-ups on the policy anniversary by giving you 3 months’ advance written notice.
Buying an investment-linked insurance plan is a long-term commitment. An early termination of the policy involves high costs and the withdrawal value is dependent on prevailing market value of the underlying assets of the unit fund. Therefore, the withdrawal value may be less than the total premiums paid. The policy value may rise or fall, based on the underlying performance of the funds. The performance of the funds is not guaranteed. The sustainability of the policy depends on the underlying performance of the funds. The investment risk under the policy will be borne solely by the policy owner. Past actual performance is not a guide to future performance, which may be different.
Any amount of the premium that has not been allocated to purchase units is used to meet the payment of commissions to intermediaries and general expenses of the Company. The Company reserves the right, in circumstances it considers exceptional, to suspend issuance or redemption of units.
This material is for general information only. It is not a contract of insurance. You are advised to refer to the Sales Illustration, Fund Fact Sheet, 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.
PROTECTION BY PIDM ON BENEFITS PAYABLE FROM THE UNIT PORTION OF THIS POLICY/PRODUCT IS SUBJECT TO LIMITATIONS. 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 on 1 June 2024.