GREAT SP | Guaranteed Returns
GREAT SP | Guaranteed Returns
Enjoy guaranteed returns of 2.60% p.a.* upon maturity
Grow your wealth with GREAT SP, a single premium non-participating endowment plan that offers guaranteed returns of 2.60% p.a.* and a capital guarantee upon maturity.
With a short-term commitment of 24 months, this plan also provides coverage against Death and Total and Permanent Disability1.
Apply online with single premium starting from S$10,000† (Cash or Supplementary Retirement Scheme (SRS) funds applicable), with no medical assessment needed. Don't miss the opportunity to lock in attractive guaranteed returns.
Key benefits
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Guaranteed returns of 2.60% p.a.* and 100% capital guaranteed upon maturity
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Short-term commitment of 24 months
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Added protection against Death and Total and Permanent Disability with no medical assessment needed
Your questions answered
GREAT SP is a non-participating single premium endowment plan with a 24-month policy term. It provides financial protection against death and total and permanent disability until the end of the policy term. It also pays a maturity benefit at the end of the policy term.
This plan pays a guaranteed survival benefit at the end of the 12th policy month and the 24th policy month.
The objective of the plan is to provide stable returns together with insurance protection.
GREAT SP provides you with financial protection against death and total and permanent disability.
If the life assured’s age next birthday as at the date of issue of the policy is 80 and below, we will pay the following if the life assured dies during the term of the policy:
(a) 105% of the single premium; or
(b) the surrender value of the policy,
whichever is higher.
If the life assured’s age next birthday as at the date of issue of the policy is 81 and above, we will pay the following if the life assured dies during the term of the policy:
(a) 101% of the single premium; or
(b) the surrender value of the policy,
whichever is higher.
We will pay the death benefit in one lump sum, if the life assured suffers from total and permanent disability1 (TPD) during the term of the policy.
We will pay a guaranteed survival benefit on the survival of the life assured at the end of the 12th policy month and the 24th policy month.
We will pay a maturity benefit of an amount equal to 100% of the single premium when the policy matures, if the life assured is still surviving at the end of the policy term.
For example, if your GREAT SP policy’s single premium is S$100,000 and the applicable rate of the guaranteed survival benefit is 3.00% per annum, you will receive S$3,000 at the end of the 12th policy month and the 24th policy month. You will also receive S$100,000 at the end of the policy term. At the end of 24 months, the total guaranteed payout that you shall receive will be S$106,000. The actual rate applicable to your policy may differ from this example, which is purely for illustrative purposes.
The rate of the guaranteed survival benefit for your GREAT SP policy will be based on the applicable rate for the date on which you submitted the application, assuming you have paid for your policy, and it is in force. You should refer to your policy documents for the rate. The rates currently displayed on the website may not be the rate applicable to your policy.
We reserve the right to amend the policy term and the prevailing rates of the survival benefit at any time without prior notice. Such amendments will not affect any policies already submitted or in force. You will need to pay the premium for your application by the stipulated due date for payment so that your policy will be issued with the rate of survival benefit quoted as of the date on which you submitted your application. Please refer to Question 6 for more information on the due date for payment of premium.
Yes. You have the choice to receive your survival benefit paid out to you, or to accumulate your survival benefit with us to earn non-guaranteed interest until the end of your policy term. Please note that the rate of the non-guaranteed interest is subject to change without prior notice.
If you are paying for your GREAT SP policy with cash or via your Supplementary Retirement Scheme (SRS), you have 7 calendar days to fully pay for your policy and for your policy to turn in-force (which shall be subject to our acceptance of your application at our sole discretion), excluding the date of submission of your application. For example, if you submitted your application on 1st June 2024, you have up to 8th June 2024 (inclusive) to fully pay for your policy and for your policy to turn in-force.
We reserve the right to invalidate any application where the policy has not turned in-force within 7 days from the date of submission of the application.
If you are paying for your GREAT SP policy with maturity rollover (MRO) proceeds, you will only be able to select the payment option of using the MRO proceeds if your application is submitted to us within 14 to 30 calendar days before the maturity date of your maturing policy.
GREAT SP’s maximum entry of the life assured is 85 age next birthday. However, policies where the life assured is between 81 to 85 age next birthday must be submitted via a financial representative.
If you surrender your policy after the 14-day free-look period, you may lose part of the premiums paid. This is because the surrender value, if any, that is payable to you may be less than the total premiums paid.
The surrender value you will receive is reflected in your policy illustration.
When you invest in this plan using funds from your Supplementary Retirement Scheme (SRS), the plan will be managed in compliance with the SRS regulations as amended from time to time. If the terms and conditions are inconsistent with those regulations, then the regulations shall prevail.
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Understand the details before buying
* Guaranteed survival benefit equivalent to 2.60% of the single premium will be payable on the survival of the life assured at the end of the 12th and 24th policy month.
1 If the life assured dies or suffers from Total and Permanent Disability (TPD), the company will pay: (a) 105% of the single premium (for entry age of 80 and below) or 101% of the single premium (for entry age of 81 and above); or (b) the surrender value of the policy, whichever is higher, less any indebtedness under the policy. For 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. You are advised to refer to the product summary for more details.
† The minimum single premium amount will depend on the entry age of the life assured and the payment method.
All ages specified refer to age next birthday.
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.
You may wish to seek advice from a financial adviser before making a commitment to purchase this product. If you choose not to seek advice from a financial adviser, you should consider whether this product is suitable for you.
The Company reserves the right to amend GREAT SP’s policy term and rates payable for the survival benefit at any time without prior notice. Such amendments will not affect any applications which have been submitted or policies that are in-force. Please refer to your policy illustration for your policy’s applicable policy term and survival benefit. The Company also reserves the right to invalidate any application to be paid with cash, cash equivalents, or via the Supplementary Retirement Scheme (SRS) where the policy has not turned in-force within 7 days from the date of submission of the application.
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 the Chinese versions, the English version shall prevail.
Information correct as at 29 August 2024.