Term Assurance

Overview
Getting married, starting a family, buying a home, paying for children’s education, starting a business – whatever goals you have, you need good financial planning to fulfill them.

A good financial plan requires a solid foundation and Life Assurance is the foundation of all financial plans. Death, an accident or a serious illness can impact not only your immediate circumstances but also your future plans. Without sufficient life cover, you may be putting your entire financial plan at risk.

Term Assurance – probably the simplest and most affordable form of life assurance policy – can help you and your loved ones financially, and most importantly, it can keep your financial dreams or goals alive.

Great Eastern has a comprehensive and competitive range of Term Assurance plans * to meet your needs:
- Essential Term and Essential Living Term
- Smart Term and Smart Living Term
- MortgageCare and CreditCare

Contact a Great Eastern Life Planner today for a comprehensive review of your life insurance needs and other financial plans.

Essential Term – High Coverage At low Cost
-	Guaranteed sum assured
-	Guaranteed level premium
-	Wide choice of policy terms
-	Choice of plans to include coverage against 30 critical illnesses
-	Worldwide coverage

Essential Term Assurance is probably the simplest and yet most cost-effective life assurance policy. It is a level term assurance plan that pays a lump sum benefit (sum assured) should the life assured die or suffer from Total and Permanent Disability (TPD) within the policy term.

You can also be protected against 30 critical illnesses by taking out the Essential Living Term Assurance.

Smart Term – Short Term And Yet Flexible
-	Short 5-year policy term and premium commitment
-	Guaranteed renewable option
-	Guaranteed convertible option
-	Guaranteed sum assured
-	Choice of plans to include coverage against 30 critical illnesses
-	Worldwide coverage

Smart Term Assurance is a 5-year Renewable and Convertible Term Assurance plan that provides coverage against Death and TPD during the policy term. It is smart because it gives you the flexibility to adjust the coverage according to their needs and budget with the renewable and convertible options.

You can also be protected against 30 critical illnesses by taking out the Smart Living Term Assurance.

Decreasing Term Assurance – Let Your Coverage Match Your Obligations
A Decreasing Term Assurance is a term assurance policy where the sum assured decreases over the term of the policy. These policies are commonly used to cover a reducing debt such as a mortgage or a loan.

At Great Eastern, we provide 2 widely used decreasing term assurance policies as follows:

1.	MortgageCare – protect your home
	- Guaranteed sum assured to repay your outstanding housing loan - Guaranteed premiums (except policies with critical illnesses coverage) - Shorter premium paying term, i.e. pay premium for only 80% of the term of the loan or policy. - Flexible premium payment mode, i.e. one-time lump sum payment, yearly, semi-annually, quarterly or even monthly. - Wide choice of policy terms to suit the term of your housing loan - Policy can be issued on a single life or joint-life basis. It can also be issued as a rider to other Great Eastern policies. - Choice of plans to include coverage against 30 critical illnesses. - Worldwide coverage
2.	CreditCare – protect your other financial obligations
	Like MortgageCare, CreditCare will take care of your other loans, e.g. car loan, renovation loan, credit card bills, etc. should anything untowards happen to you. While CreditCare offer similar benefits as MortgageCare, the following features are unique to CreditCare:
	- It does not have to tie-in with a loan. In other words, the remaining sum assured will still be payable even though there is zero outstanding loan or unpaid bills at time of death or TPD. Therefore, CreditCare can be used as a pure insurance solution to certain individuals. - It comes with convertible option that allows the policyholder to convert it into a permanent whole life or endowment plan before the end of the policy term and not later than the policy anniversary on which the Life Assured’s age is 60 next birthday.

*	The Term Assurance plans have no cash value upon termination.
	Terms and conditions apply.

Let Great Eastern make it work for you!
Contact your Life Planner from Great Eastern to discover more.