MEDIA RELEASE
For Immediate Release

Great Eastern scores 1st again with its
Early-Payout CriticalCare
The only plan that pays at earlier stages of critical illness

Singapore, 31 March 2009: Singapore’s leading life insurer, Great Eastern, launches a new tiered critical illness plan called Early-Payout CriticalCare. The first of its kind in Singapore, Early-Payout CriticalCare pays claims during earlier or less severe stages of critical illness. This product launch is reminiscent of the successful launch of the first critical illness plan in Singapore some 22 years ago, also by Great Eastern.

First developed in 1983 by Dr Marius Barnard in South Africa, critical illness insurance pays a lump sum "living benefit" upon the diagnosis of a critical illness. When Great Eastern first launched the product in Singapore in 1987, it covered only 5 critical illnesses. Other insurers soon followed suit and offered similar critical illness plans. The list of critical illnesses has since grown to 30. The claim definition of each critical illness has also recently been standardised across the industry.

Rationale for launching Early-Payout CriticalCare
Current critical illness plans pay only when the critical illness reaches an advance stage and meets the standardised definition set by the Life Insurance Association. They will not pay when the critical illness is at an early or less severe stage. However, with medical advances and the emphasis on screenings and regular check-ups, critical illnesses are likely to be detected at much earlier stages than before. With early treatment, the survival rates for many critical illnesses have improved dramatically.

Early-Payout CriticalCare pays at earlier or less severe stages of critical illness
Most critical illness plans in the market usually allow claims only at the more severe or advance stages of a critical illness. Now, Great Eastern's Early-Payout CriticalCare pays at earlier or less severe stages of critical illness. For example, in the case of Cancer, Early-Payout CriticalCare provides a payout upon the diagnosis of Carcinoma-in-Situ across 15 body sites. (Carcinoma-in-Situ is equivalent to Stage 0 of Cancer.) Early-Payout CriticalCare provides the patient with the financial means to seek crucial and appropriate treatment without delay.

Great Eastern's Managing Director (Singapore), Mr Tan Hak Leh says: "Medical science is very advance now. With earlier diagnosis and treatment, the chance of recovery and survival is a lot higher. What people need now is immediate funding to enable them to seek early treatment. At Great Eastern, we constantly review our products to ensure that our policyholders enjoy the protection they deserve. We are very excited about Early-Payout CriticalCare and the tremendous benefits and impact it will have on our policyholders. It is heartening to know that more patients will survive because they have the necessary funding for treatment before their illness worsens."

Dr See Hui Ti, Consultant Medical Oncologist from Parkway Cancer Centre, commented on the new product: "We have had patients who bought insurance as a form of safeguard for their health but were unable to make successful claims because their illnesses had not reached the severity level defined in their policies. As more cancer cases are diagnosed in the very early stages, critical illness plans must also evolve if they are to be beneficial to individuals who buy health policies." Great Eastern's Early-Payout CriticalCare closes the gap between early detection and early treatment.

Other Key Benefits

•	Multiple lump sum payouts at different stages of the same critical illness or across different critical illnesses Early-Payout CriticalCare offers lump sum payouts to policyholders at different stages and severity levels of any of the 30 critical illnesses. Multiple lump sum payouts across different critical illnesses at different severity levels can also be made. In effect, Early-Payout CriticalCare covers up to 60 medical conditions, categorised according to different severity levels (Severity 25, Severity 50 and Severity 100) of the standard 30 critical illnesses.
•	No waiting period in between claims Of significance is the fact that there is no waiting period in between claims. For example, a patient is diagnosed with stroke (Severity 25), resulting in the first payout. Subsequently, the patient suffers a heart attack (Severity 50). Early-Payout CriticalCare will pay the second claim regardless of how soon the heart attack occurred after the stroke.
•	No waiting period in between claims Of significance is the fact that there is no waiting period in between claims. For example, a patient is diagnosed with stroke (Severity 25), resulting in the first payout. Subsequently, the patient suffers a heart attack (Severity 50). Early-Payout CriticalCare will pay the second claim regardless of how soon the heart attack occurred after the stroke.

More Features and Benefits

•	Early-Payout CriticalCare may be purchased as a standalone term policy or as a term rider for an existing life policy.
•	Any individual aged from one to 60 years old on their next birthday is eligible to purchase the plan with a policy term from six to 75 years and a sum assured ranging from $50,000 to $1 million.
•	In the event of death, a payout of $10,000 will be made.

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About Great Eastern
Founded on 26 Aug 1908, Great Eastern Life Assurance Co Ltd is the oldest and most established life insurance company in Singapore and Malaysia. In Nov 1999, Great Eastern Holdings Ltd was incorporated and became the holding company of Great Eastern Life. Overseas Assurance Corporation Ltd, incorporated in 1920 as the first composite insurer in Singapore, merged with Great Eastern Holdings in Dec 2000. Today, Great Eastern is the largest insurance group and the market leader in Singapore and Malaysia, with $44 billion in assets and 3 million policyholders, and with two successful distribution channels - the tied agency force and bancassurance. The Company also operates in China, Indonesia, Vietnam and Brunei.

Great Eastern is a subsidiary of OCBC Bank, Singapore’s longest established bank with assets of $181 billion and a network of over 480 branches and representative offices in 15 countries and territories. Great Eastern’s subsidiary, Lion Global Investors Ltd, is one of the largest asset management companies in Southeast Asia.

For more information, please contact:

Margaret Lim
AVP (Corporate Communications)
Great Eastern Life Assurance Co Ltd
Tel: 6248 2103
Mobile: 9735 3347
Email: margaretlim@lifeisgreat.com.sg


Charmaine Lim
Assistant Corporate Communications Manager
Great Eastern Life Assurance Co Ltd
Tel: 6248 2547
Mobile: 9424 7023
Email: charmainelimzy@lifeisgreat.com.sg