Great Flexi Wealth 储蓄
Category: Education Planning / Retirement Fund
A solution that takes your savings further
Looking for a way to make your savings work for you? Watch your finances grow with Great Flexi Wealth, the universal life plan with a flexible premium payment term of 5 or 10 years and protection of 20 years.
With yearly guaranteed cash payment and protection for death or total and permanent disability, this plan allows you to meet your financial aspirations while providing your loved ones with the assurance that you are protected regardless of what may befall you. The plan will bring you closer each year towards the dreams you treasure for yourself and your loved ones.
Short financial commitment, limited premium payment terms
With Great Flexi Wealth, you can choose between a premium payment term of either 5 or 10 years for protection that lasts you 20 years1 .
Yearly Guaranteed Cash Payment (GCP)
Watch your finances grow with regular cash benefits. You can choose to withdraw or leave your yearly GCP2 with the Company for potential upside1 .
Hassle-free enrolment with no medical underwriting
Enjoy a simplified application process with no health questions asked and no medical examinations required1 .
Protection for death or TPD
Your loved ones are protected should the unexpected happen, with a payout of the higher of the Prevailing Sum Assured3 or Account 1 Value; plus any Account 2 Value, payable upon death due to non-accidental causes or TPD4,5 due to all causes1 .
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 Premium7 paid less total GCP paid, or Account 1 Value; plus any Account 2 Value1 .
Double or triple protection for accidental death
You will never know what tomorrow may bring. However, with Great Flexi Wealth, your family members will have the assurance of higher protection should accidental death6 occur to you1 .
Uninterrupted protection with No-Lapse Guarantee
Great Flexi Wealth 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 .
How Great Flexi Wealth works
Footnotes and disclaimers
Please do take note of the below to ensure you fully understand what this product does and does not cover.
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 Occurs prior to the policy anniversary of attained age 65 years next birthday.
7 Excluding any advance premium paid.
Great Flexi Wealth is a limited pay non-participating universal life plan with 20 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 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 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.
The terms “Great Eastern Life” and “the Company” shall refer to Great Eastern Life Assurance (Malaysia) Berhad.
Information correct as at 1 January 2021.
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