# Product Summary ## GREAT Term 2 Please keep this copy for reference. The Great Eastern Life Assurance Company Limited (Registration No. 1908 00011G) PS Version 2.0 (Errors and Omissions Excepted) 1 Pickering Street #01-01, Great Eastern Centre, Singapore 048659 Website: www.greateasternlife.com [p.1] ## About your plan GREAT Term 2 is a non-participating, regular premium level term insurance plan that provides 5 options of policy terms, up to age 65, 70, 75, 80 and 85 next birthday. It is designed to provide protection against death and terminal illness. GREAT Term 2 offers a conversion privilege that enables this plan to be converted to a new basic plan before age 70 next birthday without further medical evidence from the life assured. ## The provider of your plan GREAT Term 2 is provided by The Great Eastern Life Assurance Company Limited, at 1 Pickering Street, #01-01, Great Eastern Centre, Singapore 048659. The Great Eastern Life Assurance Company Limited is a wholly owned subsidiary of Great Eastern Holdings Limited and a member of the OCBC Group. ## Benefits ### Death benefit If the life assured dies, we will pay the higher of: (a) the basic sum assured; or (b) total premiums paid, and the policy will then end. Total premiums paid refers to the premium of the basic policy (taking into account any adjustment based on the amount of the sum assured) multiplied by the premium frequency, multiplied by the number of complete policy years up to the next policy anniversary. ### Terminal illness benefit We will pay the death benefit in one lump sum on a definite diagnosis of an illness that is expected to result in the life assured's death within 12 months from diagnosis. The policy will then end. We require this diagnosis to be supported by a registered medical practitioner and to be confirmed by a medical practitioner appointed by us. ### Conversion privilege The policy is convertible into any available whole life, endowment, index universal life or investment-linked policy offering equivalent or similar coverage (as determined by us), without requiring medical underwriting, provided the conversion is effected before the expiry date of the policy and not later than the policy anniversary on which the life assured attained age 70 next birthday. The maximum sum assured of the converted policy is 100% of the in-force sum assured of the original policy as at the time of conversion. Partial conversion is allowed and the policy will be reduced by the amount converted (subject to the minimum sum assured required). The premiums for the converted policy will be determined based on the attained age of the life assured on the date of conversion and the same risk classification as this Policy. This means that any exclusions or additional premium loadings that apply to this Policy (if any) will continue to apply to the new policy after conversion. If the converted policy has additional risk classifications that are not available under this policy (for example, super standard, preferred, or super preferred), the conversion privilege benefit is only available if this policy was originally issued on standard terms, without any exclusions or additional premium loadings. The converted policy will be issued on standard terms. If the Policyholder wishes to obtain better terms (such as super standard, preferred, or super preferred), the Policyholder must apply and successfully complete the underwriting process required by the Company. Riders or supplementary contracts may be added to the converted policy according to the prevailing rules at the time of conversion and subject to further medical underwriting. You are advised to read the policy contract for the detailed terms and conditions. ## When will you not receive the benefits of this plan? There are certain situations where we will not pay the benefits under this policy. These conditions are stated in the policy contract. ### Death benefit We will not pay the benefit if the life assured commits suicide, while sane or insane, within 1 year from the date we issue the policy or from the date of any reinstatement, whichever is later. The policy will be void. We will refund all the premiums you have paid to you or your legal personal representative if you are both the life assured and policyholder of the policy, regardless of whether you have transferred the legal right of the policy to someone else. ### Terminal illness benefit We will not pay the benefit for: (a) terminal illness in the presence of HIV infection; or (b) any pre-existing condition. You are advised to read the policy contract for the detailed terms and conditions. ## Will we change your premium rates for this plan? Please note that premium rates for the policy are guaranteed. ## Risks of this plan ### What happens if you surrender the policy early? If you surrender your policy after the free-look period, you may lose part or all of the premiums paid. This is because the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. Buying a new policy may mean we need to reassess the life assured's health and circumstances and may result in higher premiums and/or benefit exclusions due to the age and health status. ### What is the worst case scenario if you surrender your policy early? There will be no protection under the policy if you surrender your policy early. As this product has no savings or investment feature, there is no cash value if the policy ends or if the policy is terminated prematurely. ### What happens if you do not pay your premiums on time? If you do not pay your premiums on time, your policy will lapse (after 30 days grace period). However, reinstatement of the policy is allowed within 6 months from the lapse date and the usual reinstatement conditions apply. [p.2] ### What happens if your policy lapses? There will be no protection under the policy if your policy lapses. ### What are the risks that we will refuse your claim? The claim must meet the terms as shown in the policy contract before we can approve a claim. We may reject your claim if the life assured has a pre-existing condition and: * has not declared it in the proposal form as required for a new policy (if applicable); or * has not declared it in the reinstatement form as required for a reinstatement (if applicable); or * has not declared it in the application form as required for an increase in the sum assured (if applicable). You are advised to read the policy contract for the exact definitions, terms and conditions and full list of exclusions. ## When will your policy be terminated? The policy will terminate on the earliest of the following dates: (a) when the death benefit or terminal illness benefit claim is admitted; (b) when the basic sum assured is fully paid; (c) when the policy lapses; (d) when the policy expires; (e) when the policy is fully converted to another plan; or (f) when we receive your written request for termination of the policy. You are advised to read the policy contract for the detailed terms and conditions. ## What is the free-look period? After purchasing a life insurance policy, you have a 14-day free-look period starting from the day you receive your policy documents to review the documents carefully. During this time, if you choose to cancel your policy, we will refund you the premiums you have paid, less any medical fees and other expenses, such as payments for medical check-ups and medical reports, incurred by us. If your policy document is sent by post, we will assume it has been delivered and received 7 days after the date of posting. [p.3] ## Policy Owners' Protection Scheme This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg). ## General information This product summary is for general information only. It is not a contract of insurance. The precise terms and conditions of this insurance plan are shown in the policy contract. You are responsible for the accuracy and completeness of the information given to us: (i) in any application for the policy; and (ii) when making any claim under the policy. You can contact your financial representative for details on the procedures for withdrawing, surrendering or making claims under your policy. You may also visit Great Eastern's website for information on how to make a claim. This document may be translated into Chinese. If there is any difference between the English and Chinese versions, the English version will apply. [p.4] --- # Product Summary ## TPD Benefit Rider 2 Please keep this copy for reference. The Great Eastern Life Assurance Company Limited (Registration No. 1908 00011G) PS Version 2.0 (Errors and Omissions Excepted) 1 Pickering Street #01-01, Great Eastern Centre, Singapore 048659 Website: www.greateasternlife.com [p.1] ## About your rider TPD Benefit Rider 2 is a non-participating, regular premium insurance rider which provides protection against Total and Permanent Disability (TPD). This rider offers a conversion privilege which enables it to be converted (together with the basic plan) to a new TPD benefit before age 70 next birthday without further medical evidence from the life assured. ## Benefit ### Total and permanent disability benefit We will pay the below benefit (where applicable) if the life assured suffers from total and permanent disability (TPD): #### (a) If sum assured of rider is equivalent to sum assured of basic plan We will pay the death benefit from the basic plan and the policy will then end. #### (b) If sum assured of rider is less than sum assured of basic plan We will pay the sum assured of this rider, which will be accelerated from the basic plan. | Life Assured's age | Life Assured suffers from a state of incapacity which is total and permanent, and which: | Applicable period | |---|---|---| | Above 15 years old | (a) is such that there is not at that time, nor at any time thereafter, any work, occupation or profession which the Life Assured can ever perform or follow sufficiently to earn or obtain any wage, remuneration or profit; or | Happens before the policy anniversary on which the Life Assured is 65 age next birthday. | | | (b) takes the form of total and irrecoverable loss of: (i) the sight in both eyes; (ii) the use of 2 limbs at or above the wrist or ankle; or (iii) the sight in 1 eye and the use of 1 limb at or above the wrist or ankle. | Applies for the whole of policy term. | | 15 years old and below | (a) is such that the Life Assured has been confined to a home, hospital or other institution requiring constant care and medical attention for at least 6 consecutive months; or | Happens before the Life Assured turns 16 years old. | | | (b) takes the form of total and irrecoverable loss of: (i) the sight in both eyes; (ii) the use of 2 limbs at or above the wrist or ankle; or (iii) the sight in 1 eye and the use of 1 limb at or above the wrist or ankle. | Applies for the whole of policy term. | TPD must, in the opinion of a registered medical practitioner, be deemed to be total and permanent. We will pay 20% of the TPD benefit in one lump sum if the life assured suffers from TPD before turning age 1, and the rider will end. The most we will pay in benefit for TPD for all policies and riders we have issued for each life assured is S$5,000,000. ### Conversion privilege When the conversion privilege of the basic plan is exercised, this rider is also convertible to another TPD benefit offering equivalent or similar coverage (as determined by us), without requiring medical underwriting, provided the conversion is effected before the expiry date of the policy and not later than the policy anniversary on which the life assured attained age 70 next birthday. The maximum sum assured of the new TPD benefit is 100% of the in force sum assured of this rider as at the time of conversion. Partial conversion is allowed and this rider will be reduced by the amount converted (subject to the minimum sum assured required). The premiums for the new TPD benefit will be determined based on the attained age of the life assured on the date of conversion and the same risk classification as this rider. This means that any exclusions or additional premium loadings that apply to this rider (if any) will continue to apply to the new TPD benefit after conversion. If the new TPD benefit is attached to the converted policy that has additional risk classifications that are not available under this rider and basic plan (for example, super standard, preferred, or super preferred), the conversion privilege benefit is only available if this rider and basic plan was originally issued on standard terms, without any exclusions or additional premium loadings. The new TPD benefit and converted policy will be issued on standard terms. If the Policyholder wishes to obtain better terms (such as super standard, preferred, or super preferred), the Policyholder must apply and successfully complete the underwriting process required by the Company. Riders or supplementary contracts may be added to the converted policy according to the prevailing rules at the time of conversion and subject to further medical underwriting. You are advised to read the policy contract for the detailed terms and conditions. ## When will you not receive the benefits of this rider? There are certain situations where we will not pay the benefits under this rider. These conditions are stated in the policy contract. ### TPD Benefit We will not pay the benefit for TPD resulting: (a) directly or indirectly, wholly or partly, from self-inflicted injury, while sane or insane; (b) directly or indirectly, wholly or partly, from bodily injury sustained while in or on, or boarding or descending from, an aircraft other than as a: (i) fare-paying passenger or crew member on an aircraft licensed for passenger service and operated by a commercial airline on a scheduled route; (ii) passenger who is a member of the armed forces on a military transport aircraft; or (iii) provider of airport ground handling, aviation catering, aircraft engineering or other aviation-related services while the aircraft is on the ground; or (c) any pre-existing condition. You are advised to read the policy contract for the detailed terms and conditions. ## Will we change your premium rates for this rider? Please note that premium rates for the rider are guaranteed. [p.2] ## Risks of this rider ### What happens if you surrender the rider early? If you surrender your rider early, you may lose part or all of the premiums paid. This is because the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. Buying a new rider may mean we need to reassess the life assured's health and circumstances and may result in higher premiums and/or benefit exclusions due to the age and health status. ### What is the worst case scenario if you surrender your rider early? There will be no protection under this rider if you surrender your rider early. As this product has no savings or investment feature, there is no cash value if the rider ends or if the rider is terminated prematurely. ### What happens if you do not pay your premiums on time? If you do not pay your premiums on time, your rider will lapse (after 30 days grace period). However, reinstatement of the rider is allowed within 6 months from the lapse date and the usual reinstatement conditions apply. ### What happens if your rider lapses? There will be no protection under the rider if your rider lapses. ### What are the risks that we will refuse your claim? The claim must meet the terms as shown in the policy contract before we can approve a claim. We may reject your claim if the life assured has a pre-existing condition and: * has not declared it in the proposal form as required for a new policy (if applicable); or * has not declared it in the reinstatement form as required for a reinstatement (if applicable); or * has not declared it in the application form as required for an increase in the sum assured (if applicable). You are advised to read the policy contract for the exact definitions, terms and conditions and full list of exclusions. [p.3] ## When will your rider be terminated? Your rider will terminate on the earliest of the following dates: * when the rider lapses; * when the rider expires; * when the TPD benefit claim is admitted; * when the basic plan, to which the rider is attached to, is fully converted to a new basic plan; * when the policy lapses, is surrendered, or otherwise terminated; or * when we receive your written request for termination of this rider or the policy. You are advised to read the policy contract for the detailed terms and conditions. ## Policy Owners' Protection Scheme This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg). ## General information This product summary is for general information only. It is not a contract of insurance. The precise terms and conditions of this insurance plan are shown in the policy contract. You are responsible for the accuracy and completeness of the information given to us: (i) in any application for the policy; and (ii) when making any claim under the policy. You can contact your financial representative for details on the procedures for withdrawing, surrendering or making claims under your policy. You may also visit Great Eastern's website for information on how to make a claim. This document may be translated into Chinese. If there is any difference between the English and Chinese versions, the English version will apply. [p.4]