Great Eastern Birthday Insurance Promotion (Purchase of Policy) terms and conditions
Birthday Insurance Promotion (Purchase of Policy) terms and conditions
1. This Promotion is open to:
a) Great Eastern policyholders whose birthdays fall between 1 January 2024 and 31 December 2024, both dates inclusive (referred to as “eligible Great Eastern policyholders”), in particular:
(i) eligible Great Eastern policyholders from the age of 17 and above (based on age next birthday) who purchase a qualifying plan with a minimum qualifying premium (“Qualifying Plan(s)”) as described below from The Great Eastern Life Assurance Company Limited (“Great Eastern”).
| Qualifying Plans | Qualifying Annualised Premium* Per Plan | Rewards |
|---|---|---|
| Selected new Life regular premium plans | Minimum of S$2,000 |
10,000 GREAT Dollars (worth S$100) |
| Selected Accident & Health regular premium plans | Minimum of S$400 |
3,000 GREAT Dollars (worth S$30) |
* including GST and after any premium discounts.
Qualifying annualised premium for Regular Premium plans with less than 10 years payment term, e.g. GREAT Wealth Multiplier 3 (5 years payment term), GREAT Lifetime Payout 2 Special (3 years payment term), will be based on weighted annualised premium.
See below table on how to calculate Weighted Annualised Premium.
| Premium payment term (years) |
Multiply factor on Annualised Premium |
| 3 | 30% |
| 4 | 40% |
| 5 | 50% |
| 6 | 60% |
| 7 | 70% |
| 8 | 80% |
| 9 | 90% |
| 10 & above | 100% |
Examples:
| Plan | Annualised Premium |
Total Weighted Premium used to calculate rewards amount | Rewards |
|---|---|---|---|
| GREAT Wealth Multiplier 3 (5 years payment term) |
S$3,000 | S$1,500 [50% of S$3000] | Not eligible |
| GREAT Wealth Multiplier 3 (5 years payment term) |
S$4,000 | S$2,000 [50% of S$4000] | S$100 worth of rewards |
| GREAT Lifetime Payout 2 Special (3 years payment term) |
S$7,000 | S$2,100 [30% of S$7000] | S$100 worth of rewards |
2. The following plans will not constitute as Qualifying Plans for this Promotion:
- GREAT SupremeHealth series
- GREAT TotalCare and GREAT TotalCare Plus
- GoGreat Term Life
- Government Scheme plans (e.g. CareShield Life, Dependants’ Protection Scheme)
- CareShield series (e.g. GREAT CareShield)
- All Single Premium and Recurrent Single Premium Plans
3. Payment frequency for all Qualifying Plans can be on a monthly, quarterly, half yearly or yearly basis.
4. The plan will need to be submitted within the valid promotion period and in force within 14 days from the Birthday Insurance Promotion end date. For example,
| Birthday Month | Birthday Insurance Promotion Start Date | Birthday Insurance Promotion End Date | Latest In Force Date |
|---|---|---|---|
| April | 1 March 2024 | 31 May 2024 | 14 June 2024 |
5. Each policyholder is only entitled to one reward for each category of Qualifying Plans, regardless of the number of plans purchased.
6. This promotion is not transferrable and not valid with other offers or promotions held by Great Eastern unless otherwise stated.
7. In the event that any duplicate reward is made or if the policy is cancelled within the free-look period, Great Eastern reserves the right to recover the full value of the reward (or duplicate reward, as the case may be) from the policyholder.
8. GREAT Dollars will be credited into the eligible policyholder’s account within 2 months after the Birthday Insurance Promotion end date, and after the 14-day free look period.
9. Eligible policyholders are required to download the Great Eastern Rewards mobile application and register for an account using a valid email address in order to receive the GREAT Dollars.
10. Great Eastern reserves the right to vary the terms and conditions or withdraw this Promotion at any time without prior notice. The decision of Great Eastern on all matters relating to this Promotion shall be final and binding on all customers.
11. The terms and conditions of this promotion shall be governed by and interpreted in accordance with Singapore law. The courts of Singapore shall have exclusive jurisdiction over any disputes arising from the terms and conditions, including the validity and enforceability thereof.
Information updated as at 20 March 2024