Flexi Wealth Plus | Limited Pay Universal Life Plan

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Flexi Wealth Plus | Limited Pay Universal Life Plan

Make the most of your savings potential 

Imagine being able to make your savings work harder for you while protecting yourself against life’s many uncertainties. Now you can do so with GREAT Flexi Wealth Plus. It’s the universal life plan that allows you choose your premium payment term while helping you build towards a secure financial future. That’s because the plan provides you with a guaranteed cash payment each year and a maturity benefit when it matures.

GREAT Flexi Wealth Plus also protects you for 25 years against death or Total and Permanent Disability, with coverage up to three times the prevailing sum assured in the event of accidental death. That means you and your loved ones will have a financial safety net if anything unfortunate were to happen. With GREAT Flexi Wealth Plus, you can make the most of your savings potential on your life journey together.

Key benefits


 

Flexible financial commitment with limited premium payment terms

With Great Flexi Wealth Plus, you can choose between a premium payment term of either 10 or 20 years for life protection that lasts you 25 years1 .

 

 

Hassle-free enrolment with no medical underwriting

Enjoy a hassle-free application process with no health questions asked and no medical examinations required1 .

 

 

Yearly Guaranteed Cash Payment (GCP)

17% of the Basic Annualised Premium will be payable as GCP2 each year. Your yearly GCP2 can be withdrawn or you may choose to leave it with the Company for a potential upside1 .

Additional benefits


 

Comprehensive protection for death or TPD

You and your loved ones will be financially protected should the unexpected happen, with a payout of the higher of the Prevailing Sum Assured3or Account 1 Value; plus any Account 2 Value, payable upon death or TPD4,5,1.

 

 

Maturity benefit at the end of your policy term

Upon maturity, you'll receive in one lump sum the higher of 105% of total Basic Annualised Premium6 paid less total GCP paid, or Account 1 Value; plus any Account 2 Value1 . 

 

 

Up to triple the protection for accidental death

Nobody knows what the future holds, which is why GREAT Flexi Wealth Plus provides you with higher coverage up to 3 times of the prevailing sum assured3 to financially protect your loved ones should accidental death occur1

 

 

Continuous protection with No-Lapse Guarantee

Flexi Wealth Plus comes with a ‘No-Lapse Guarantee’. This valuable feature ensures that your policy will continue to remain in force even if your Account 1 Value and Account 2 Value (if any), become zero, so long as the premiums are paid up to date and there is no overdue premium interest on your policy1.

Flexi Wealth Plus is on limited offer from 23 May 2022 to 31 July 2022. 

Footnotes and disclaimers


Please do take note of the below to ensure you fully understand what this product does and does not cover.

Footnotes
 

1 Terms and conditions apply.

2 A percentage of the Basic Annualised Premium (excluding any advance premium paid) will be payable to you as the GCP, provided all premium and overdue premium interest, if any, for the respective year is paid. This cash benefit will be payable until death, TPD, surrender, or maturity, whichever occurs first.

3 Prevailing Sum Assured is the percentage of the total Basic Premium paid less total GCP paid, excluding any advance premium paid.

4 Total and Permanent Disability.

5 Occurs prior to the policy anniversary of attained age 70 years next birthday.

6 Excluding any advance premium paid.

 

Disclaimer
 

Flexi Wealth Plus is a limited pay non-participating universal life plan with 25 years' coverage term. This plan is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. Premiums are payable until the end of the premium payment term, or until death or TPD or termination of the policy, whichever occurs first. Premium will remain the same throughout the premium payment term, however, the fees and charges are not guaranteed and the Company might revise the charges on policy anniversary by giving 3 months’ written notice.

 

You should satisfy yourself that this plan will best serve your needs and that the premium payable under the policy is an amount you can afford. A free-look period of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the Company shall refund an amount equal to the sum of:

 

a.  Account 1 Value; and
b.  unallocated premium for the basic policy; and
c.  charges such as insurance charge and policy fee; and
d.  any Account 2 Value (if any).

 

If you surrender your policy early, you may get back less than the amount you have paid. The policy will not lapse if you do not pay premiums after the 30 days grace period as long as there is a sufficient value in Account 1 and Account 2 to pay the insurance charges and policy fees. Any premium paid after the grace period will not be eligible for credited return which has been determined prior to such payment. It will be charged with overdue premium interest at a rate to be determined by the Company from time to time. The prevailing interest rate is available on the Company’s official website. The interest is chargeable from the premium due date and will not be allocated into Account 1 and Account 2 (if any). Your policy may lapse if you fail to pay your premium and the required charges exceed the value in Account 1 and Account 2 (if any).

 

Credited return is calculated based on the crediting rate. The actual crediting rates are NOT GUARANTEED and will fluctuate based on the investment performance. A higher credited return may be credited if the investments have performed well and conversely, a lower or negative credited return may be credited if the investments have performed poorly. A negative crediting rate will result in a reduction of Account Value.

 

Any amount of the premium paid for your basic policy that has not been allocated into Account 1 is used to meet the payment of commissions to intermediaries and general expenses of the Company.

 

The above is for general information only. It is not a contract of insurance. You are advised to refer to the Sales Illustration, Fund Fact Sheet, Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted above are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life.

 

If there is any discrepancy between the English, Bahasa Malaysia and Chinese versions of this brochure, the English version shall prevail.

Information correct as at 1 January 2021.



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