How
PayCare Can Meet Your Needs Great Eastern Life’s PayCare is designed to suit
your individual income protection needs. You decide on the following:
PayCare
Policy or Rider
You may purchase PayCare as a stand-alone policy or as a rider to
supplement a regular premium whole life, endowment or investment-linked
policy that you have with Great Eastern.
Level or
Escalating Monthly Disability Benefit You can be insured for up to 75% of your average monthly
earned income over the last 12 months. Opt for a level Monthly Disability
Benefit or escalating benefit at 2.5% per annum to keep up with
inflation.
Coverage
Period Insure your income for a period ranging from 10 to 30 years,
or up to age 55, 60 or 65 years on your next birthday.
Pre-Benefit
Period This is the period following the onset of disability before
you begin to receive the Monthly Disability Benefit. You have a
choice of 60, 90 or 180 days.
Benefit
Payable Period Choose to receive benefits for up to the age of 55, 60
or 65 years on your next birthday.
Premium Payment
Schedules You can choose to pay your premiums* on a monthly, quarterly,
half-yearly or yearly basis. Premiums will be waived during the
period you are receiving total or partial disability benefit.
* Premium rates are not guaranteed.
LIG Let Great Eastern make it work for you! Contact your Life Planner from Great Eastern to discover more.
The above is for general information
only. It is not a contract of insurance. Please refer to the policy
document for the precise terms and conditions of the insurance
plan.
Buying a life insurance policy
is a long-term commitment. An early termination of the policy
usually involves high costs and the surrender value payable may
be less than the total premium paid.
It is usually detrimental to
replace an existing accident and health insurance policy with
a new one. A penalty may be imposed for early policy termination
and the new policy may cost more or have less benefits at the
same cost.
