Prestige Legacy Advantage
Prestige Legacy Index | Universal Life Single Premium Legacy Solution
Build timeless value of your legacy with high lifetime protection
Life is full of twists and turns. You’re successful today because you’ve made the most of them, safeguarding the life you’ve created while nurturing opportunities to their fullest potential.
Prestige Legacy Index is designed to grow your wealth without compromising what you’ve already built. Offering the best of both worlds, this US dollar-denominated1 universal life plan combines potentially higher growth through participation in market indices while limiting your risk exposure during market downturns. You are also assured of lifelong protection against death and terminal illness, ensuring your loved ones are always taken care of.
Legacy is about ensuring your great achievements continue to benefit your loved ones. Prestige Legacy Index empowers you to build new horizons from current successes - so you can protect what matters and create a substantial legacy for generations to come.
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Key Benefits
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High lifetime protection of up to 10 times2 the premium paid
Invest with a single premium and create an immediate estate to enhance your legacy for future generations. The security of a non-lapse guarantee3 ensures that your high level of protection continues for the first 5 policy years, regardless of market performance, further enabling your investment to reach its full growth potential.
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Potential growth with protection from market volatility
Based on your risk tolerance and financial aspirations, you can choose from 3 premium apportionment options between the Index Account and Fixed Account:
Option 1 Option 2 Option 3 Index Account 100% 75% 50% Fixed Account 0% 25% 50% •Index Account: Enjoy higher potential returns4 with the assurance of a guaranteed minimum floor rate of 0% p.a. to safeguard your account from market downturns.
•Fixed Account: Benefit from a guaranteed crediting rate of 4.20% p.a. for the first year. Thereafter, the rate will be based on the prevailing rate determined by Great Eastern, with a guaranteed minimum crediting rate of 2.00% p.a..
Additionally, gain extra peace of mind knowing your policy is protected against market downturns; if you choose to surrender5 your policy, the higher of the minimum surrender value6 and account value will be paid out.
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Flexibility to adapt to your life’s changing needs
You have the option to:
• Spread the net premium allocated to the Index Account over 12 months to smooth the impact of market fluctuations for a more stable long-term return through the automatic premium spread optional feature.
• Adjust your premium apportionment or rebalance the account values between the Fixed Account and Index Account through the account reallocation feature7 to align with your changing risk appetite.
• Access your cash value through the partial withdrawal8 feature or surrender5 the policy whenever needed.
• Change the life assured9 and pass the policy on to the next generation.
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Our financial representative will answer any questions you may have about our products and planning.
Understand the details before buying
1 Please be aware that if the US Dollar is not your home currency, you will be exposed to foreign exchange volatility risk.
2 Based on the illustration of a 40-year-old male, non-smoker, with a standard risk class and a sum assured of USD 0.5 million. The premium payable varies based on the life assured’s age at entry, gender, smoker status, country of residency at inception, underwriting risk class, sum assured and premium apportionment mix.
3 The non-lapse guarantee feature is only applicable for the first 5 policy years provided that no partial withdrawals are made and there is no change to the life assured.
4 The crediting rate for the Index Account is calculated based on the performance of the underlying index, subject to the applicable floor and cap rates, plus a loyalty crediting rate (if any). The cap rate will not go below 3.00% p.a.. Please refer to the policy illustration and product summary for more details.
5 Subject to surrender charges for the first 15 policy years.
6 Upon full surrender, we will pay either (a) the minimum surrender value; or (b) the account value less any surrender charge, whichever is higher, less any outstanding debts. The minimum surrender value is determined based on the accumulation of net premium (premium payable less premium charge) received with interest accrued daily based on the crediting rate of 2% p.a., less deduction of any monthly deductions, any partial withdrawal amount and any partial withdrawal charges, and surrender charges (where applicable).
7 You can apply for the change of premium apportionment and account reallocation features only from the 3rd policy year onwards and before you reach age 100. For each feature, each request must be 2 years apart.
8 Subject to applicable terms, conditions and charges. For partial withdrawal made during the first 10 policy years, the basic sum assured and account value will be reduced by the partial withdrawal amount and the partial withdrawal charges.
Starting from the 11th policy year, you can enjoy the flexibility of withdrawing up to 5% of the policy's account value annually without the basic sum assured being reduced.
From the 11th to the 15th policy year only, withdrawal charges shall apply if the amount withdrawn is in excess of 5% of the policy's account annually. If the partial withdrawal amount made is in excess of the 5% of policy's account value annually from the 11th year onwards, the basic sum assured will be reduced by the partial withdrawal amount that is in excess.
9 This is only allowed for single premium policies with no premium financing and acceptance of the new life assured is subject to underwriting. Other terms and conditions apply.
^ This is not guaranteed and may change from time to time.
# If the life assured dies or is being diagnosed with terminal illness before the policy anniversary immediately following the life assured’s 121st birthday, we will pay either (a) the basic sum assured; or (b) account value of the policy, whichever is higher, less any outstanding debts. If the life assured dies or is being diagnosed with terminal illness on or after the policy anniversary following the life assured’s 121st birthday, we will pay the account value of the policy, less any outstanding debts.
All ages specified refer to age last birthday.
All figures used are for illustrative purposes only and are subject to rounding.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
The above is for general information only. It is not a contract of insurance. The precise terms and conditions of this insurance plan are specified in the policy contract.
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.
In case of discrepancy between the English and the Chinese versions, the English version shall prevail.
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).
Information correct as at 7 October 2024.