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Wealth Accumulation - Our Insurance Products | Plans and...
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Great Eastern is the oldest and most established life &...
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- Wealth Accumulation
Great Eastern is the oldest and most established life & general insurance company in Malaysia. We got you covered in all aspects of life. Learn more.
WELCOME TO e-CONNECT! A dedicated portal for you to: View your entire insurance portfolio with Great Eastern. Perform selected transactions online. Check status of your claim.
May 25, 2007 · 1) Smart Protect Essential Insurance 2. Description: Regular premium investment-linked policy. Example Benefits: Death Benefit RM45k, Critical Illness RM45k and waive premium, TPD (Total and Permanent Disability) RM45k plus waive premium, Health Card Room & Board (R&B) RM180, annual limit: RM100k, lifetime limit: RM2 million,
- Introduction
- Plan Description
- Plan Benefits
- Supreme Care Is Suitable For These Needs
- Sample of Sales Illustration
- Summary
Before this review, I have done a few reviews of Great Eastern products such as Great Protectlink Insurance (Investment-linked), Supreme Livin’Care Insurance (Living Assurance) and Great Income Advantage Series 2(Whole Life plan). Supreme Care (SC) was launched way back before all those plan mentioned here. It is a very basic traditional plan. At t...
Supreme Care a Whole Life non-participating policy, maturing at age 99. The Sum assured is payable if Life Assured becomes Totally and Permanently Disabled before age 60 or upon death. What is Non-participating policy(non-par)?
1. Death and Total Permanent Benefit (TPD) Benefits In the event of death (before age 99) or TPD (before age 65), the basic sum assured will be payable. This is a 2D plan (Death & Disability). Unlike SLC+, the sum assured will not increase over time. 2. Guaranteed Cash Value Since Supreme Care is non-par, the premium won’t be invested. Thus, the su...
1. Funding a Buy Sell Agreement
Buy sell agreement is a part of business succession plan. It needs another long post to explain what is Buy Sell Agreement. In order to ensure that the buying party will have sufficient fund to pay for the share value of a company when his partner dies, all the partners can be insured so that the insurance payout can be used. Supreme Care is a perfect plan for this situation.
2. Funding a private trust
When you set up some kind of trust, no matter it is a charitable trust, maintenance trust, or incentive trust, you need to pump in money into the trust fund for it to function. If the trust is meant to be functioning only after a person pass away, life insurance can serve as a more economic funding method. If you need a RM500,000 for the maintenance of your children in case something happens to you, just buy a Supreme Care with the sum assured RM500k and assign it to the trust. This method is...
3. Liability Cancellation
Liability include all kind of debt: credit debt, mortgage, business loan etc. Let’s look at the effect of mortgage. If you are the sole breadwinner of your family. You bought a house that accommodates your spouse and children. Probably the bank officers asked you to take up an insurance plan known as Mortgage Reducing Term Assurance (MRTA) to protect their mortgageyour family. When something happens to you, the bank get the money and your family get the house. If there is no such arrangement,...
Case Study Mr. A bought a new house and took up a home loan of RM100,000. He is 30 years old. Instead of getting a MRTA (Mortgage Reducing Term Assurance), he bought a Supreme Care ( premium RM980 per annum with Sum Assured RM100,000). Figure 1 shows clearly the break-even analysis. Figure 1: Break-even Analysis created with GELSIS 4.27 Red line (o...
Finally, let’s recap the main feature of Supreme Care 1. guaranteed surrender value 2. sum assured always stay level throughout whole life until age 99 3. one of the most cost effective funding method for trust, buy-sell agreement, and liability cancellation plan. 4. break-even point is around year 16. (total premium paid = surrender value) Next we...
Jul 22, 2009 · In this new partnership, OCBC Malaysia will distribute life insurance products developed by Great Eastern Life Assurance (Malaysia) through its 29 conventional banking branches. The range of products selected for distribution will be assessed to ensure that they meet the different lifestyle and life stage needs of the Bank’s retail customers.
May 23, 2023 · KUALA LUMPUR: Great Eastern Life Malaysia (GELM) launched Great Multi-Gen Wealth, a wealth accumulation plan at its head office recently. It is the first-of-its-kind insurance plan in Malaysia ...
