What is wealth accumulation insurance plan?

A good wealth accumulation insurance plan comes with the systematic process of strategically building and growing financial assets over time through prudent financial planning and disciplined savings. The key objectives of a wealth accumulation insurance plan could be to help you generate an income stream, to grow and compound your wealth through disciplined savings and investments, and to manage your financial risk and insurance coverage based on your personal needs. Understanding these key objectives and combining them with your own financial preferences will be crucial to navigating the world of wealth accumulation effectively.

Why is wealth accumulation important (and how do I grow my wealth)?

Wealth accumulation is important in achieving long-term financial goals such as home ownership, education funding, medical cost funding and maintaining a comfortable lifestyle into retirement or building an inheritance for your next generation. It is also crucial to start your wealth accumulation journey early so that your investment has sufficient runway to generate compounded returns. Wealth accumulation plans are designed to optimise the growth of your financial portfolio via a mixture of investment instruments while also balancing risk and return. There are different forms of wealth accumulation plans with different underlying investments, curated based on your risk tolerance. The key lies in selecting a plan that aligns well with your current financial goals and potential aspirations in the future. These plans leverage strategies such as diversification, compounding, and dollar-cost averaging for investing.

What are the types of wealth accumulation insurance plans offered by Great Eastern?

Great Eastern offers a diverse range of wealth accumulation insurance plans, including participating endowment insurance plans and investment-linked insurance plans. Great Eastern’s participating endowment insurance plans provide medium to long-term returns which makes them attractive for risk-averse customers. Great Eastern’s investment-linked insurance plans such as GREAT Wealth Advantage 4A offer growth potential through exposure to professionally managed funds. With a diverse range of investment options, customers who have higher risk appetite can curate an investment strategy towards their goals. For more personalised advice and detailed information on these plans, speak to our qualified Financial Representatives or explore our website today.

Which wealth accumulation insurance plan can I buy using my SRS (Supplementary Retirement Scheme) funds?

Great Eastern offers a selection of wealth accumulation insurance plans in which the premium can be paid using your Supplementary Retirement Scheme (SRS) funds. Grow your wealth with these wealth accumulation insurance plans, while you enjoy potential tax savings on your SRS contributions. Two such wealth accumulation insurance plans offered by Great Eastern are GREAT Prime Rewards 3 and GREAT Wealth Multiplier 3.