GREAT Flexi Goal
GREAT Flexi Goal | Regular Premium Endowment Plan
Future-proof your family’s financial future with certainty
Your financial goals evolve as you journey through different stages in life. From just starting out in your career to building your wealth for a new family and eventually towards your desired retirement, you’ll want your savings to work harder to fulfil these wealth aspirations.
GREAT Flexi Goal is a regular premium endowment plan designed to grow your money through potential returns with choice of premium payment terms. This plan lets you attain your life goals with certainty and guaranteed acceptance for coverage against Death1, Total and Permanent Disability2 and Terminal Illness.
Start saving regularly with GREAT Flexi Goal and ensure your saving priorities are met at every life stage, one sure step at a time.
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Key benefits
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Up to 3% p.a.* potential returns upon maturity
Look forward to a lump sum payout with an attractive yield of up to 3% p.a.* upon maturity to achieve your life goals with greater ease.
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Different premium payment terms, whatever suits you from S$100 per month
Plan towards your goals, your way. With a selection of either 15-year or 20-year policy terms, you can customise a plan that best suits your budget deciding between premium payment terms of Limited or Full Pay over 15 years or Full Pay over 20 years.
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Be assured with capital guaranteed3
Your capital is 100% guaranteed when the policy matures – a promise we fulfil as a security to your medium to long term commitment.
Your questions answered
GREAT Flexi Goal is a regular premium participating endowment plan. It provides a maturity benefit at the end of the policy term. It also provides financial protection against Death1, Total and Permanent Disability2 and Terminal Illness.
Plan Variation |
Premium Term |
Policy Term |
15-Pay 15 |
15 years |
15 years |
15-Pay 20 |
15 years |
20 years |
20-Pay 20 |
20 years |
20 years |
This plan is offered on a guaranteed issuance basis (GIO) with no medical underwriting. Financial underwriting still applies.
1 The Company will pay the higher of the following in one lump sum, plus attaching bonus (if any), less any debt:
(a) 105% of total standard yearly annual premiums paid; or
(b) guaranteed surrender value.
2 For Total and Permanent Disability (TPD) that takes the form of total and irrecoverable loss of the: (a) sight in both eyes; (b) use of two limbs at or above the wrist or ankle; or (c) sight in one eye and the use of one limb at or above the wrist or ankle, the life assured will be covered for the whole of the policy term. For other forms of TPD, it must occur before the policy anniversary on which the life assured is age 65 next birthday. You are advised to refer to the product summary for more details.
GREAT Flexi Goal provides financial protection against Death1, Total and Permanent Disability2 and Terminal Illness.
If the insured suffered from any of the abovementioned events during the policy term, we will pay the following in one lump sum, plus attaching bonuses (if any), less any outstanding debts:
- 105% of total standard yearly premiums paid4; or
- guaranteed surrender value;
whichever is higher.
The policy will end when we make this payment.
We will pay a guaranteed maturity benefit plus attaching bonuses (if any) when the policy matures, if the life assured is still surviving at the end of the policy term.
4 Standard yearly premium refers to the premium of the basic policy on a yearly basis, taking into account any adjustment based on the amount of the sum assured, but excluding any extra loadings or discounts.
GREAT Flexi Goal provides both guaranteed and non-guaranteed benefits. The guaranteed benefits, including bonuses which have already been declared, will be paid regardless of how the participating fund performs. Non-guaranteed benefits are in the form of future bonuses. The future bonuses which have yet to be declared are not guaranteed and are dependent on the performance of the participating fund. There are two main types of bonuses for GREAT Flexi Goal:
- reversionary bonus; and
- terminal bonus.
The reversionary bonus is declared yearly (if any). Once declared, it will form part of the guaranteed benefit of the policy. However, it can only be added to your policy benefits after three (3) full policy years or otherwise as decided by us.
You will receive the reversionary bonus (if any) and the terminal bonus (if any) in one lump sum when:
(a) there is a claim admitted under the policy that terminates the policy;
(b) your policy matures; or
(c) you surrender your policy,
whichever event first occurs.
We usually review the reversionary and terminal bonuses yearly.
You will receive an annual bonus update that will include the following:
- the performance of the participating fund and its future outlook, which you should receive around the second quarter of each year after bonus is declared for your policy; and
- an annual statement regarding bonuses for your policy, which you should receive around the second quarter of each year after bonus is declared for your policy.
When there is a change in the rate of bonuses declared, you can ask us for an update of the illustrated values.
We will pay the surrender values when you surrender your policy after you have paid at least 3 full policy years of premiums and your policy has been in force for at least 3 years.
However, if you surrender your policy after the 14-day free-look period and before the end of your policy term, you may lose part or all of the premiums paid. This is because the surrender value you receive, if any, that is payable to you may be zero or less than the total premiums paid.
If you do not pay your premiums on time, your policy may lapse (after 30 days grace period) depending on the net surrender value. If the policy has enough net surrender value, you will be given an automatic premium loan. If your policy lapses because it does not have enough net surrender value, you may reinstate the policy within 6 months from the date it lapsed and usual reinstatement conditions apply.
We have included fees and charges when working out the premium and you will not be separately charged for these. Please refer to the Product Summary on more details of the fees and charges.
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Understand the details before buying
1 The Company will pay the higher of the following in one lump sum, plus attaching bonus (if any), less any debt:
(a) 105% of total standard yearly premiums paid; or
(b) guaranteed surrender value.
2 Coverage for Presumptive Total and Permanent Disability (TPD) is for the whole of the policy term, while coverage for other forms of TPD is up till the policy anniversary on which the life assured is age 65. Presumptive TPD refers to a state of incapacity which is total and permanent and takes the form of total and irrecoverable loss of:
(a) the sight in both eyes;
(b) the use of two limbs at or above the wrist or ankle; or
(c) the sight in one eye and the use of one limb at or above the wrist or ankle.
For more details on other forms of TPD, please refer to product summary.
3 Capital guaranteed upon maturity is only applicable to Limited Pay option with premium payment term of 15 years and policy term of 20 years.
* The figure comprises guaranteed and non-guaranteed benefits. The non-guaranteed benefit is illustrated based on the illustrated investment rate of return (IIRR) of the participating fund of 4.25% p.a.. The actual benefits payable may vary according to the future experience of the Participating Fund.
At an IIRR of 3.00% p.a., the total maturity benefit is S$114,886 (whereby S$94,517 is guaranteed and S$20,369 is non-guaranteed) with 1.87% p.a. yield to maturity.
All ages specified refer to age next birthday.
Figures illustrated are rounded to the nearest dollar.
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.
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).
In case of discrepancy between the English and Chinese versions, the English version shall prevail.
Information correct as at 22 February 2022.