Details
Greater living with wealth protection
Greater living is celebrating the best of life with the people closest to your heart. This is why you strive to provide a better life for them, one that allows them to realise their dreams while being free from financial adversity.
With SmartProtect Wealth 20, you have the opportunity to protect what is most precious to you, helping your loved ones carry on should the unexpected befall you. On top of high insurance coverage, this plan prioritises building your wealth by granting you access to a host of professionally managed unit funds, a flexible premium payment term and rewards to mark certain policy milestones.
You can never put a price on the happiness and wellbeing of the people you love – let SmartProtect Wealth 20 help you continue to put a smile on their faces for many years to come.
Key benefits
20 years of protection with flexible premium payment terms
SmartProtect Wealth 20 covers you for 20 years, with the flexibility of selecting your preferred premium payment term of 5, 10 or 20 years1 .
High protection against death or TPD
With coverage starting from RM500,000, SmartProtect Wealth 20 helps ensure that you and your loved ones will not be financially burdened if the worst should happen1 .
Additional 1% sum assured each year
Your sum assured will grow by 1% every completed policy year throughout your coverage period, up to a maximum of 30 years1 .
Additional coverage for accidental death
Upon accidental death prior to the policy anniversary of attained age 70 years next birthday, your loved ones will receive an additional amount of your basic sum assured1 .
Additional benefits
Extension of coverage at maturity
Your SmartProtect Wealth 20 plan comes with an automatic 10-year extension of coverage at maturity, which further extends your protection for 10-year periods, up to age 100 next birthday1,2 .
Security of No-Lapse Guarantee
SmartProtect Wealth 20 comes with a No-Lapse Guarantee in the first 6 policy years. This valuable feature ensures that your policy will continue to remain in-force even if your TIV4 becomes zero, so long as your premiums are paid consistently and no withdrawals are made in the first 6 policy years1 .
Booster reward to celebrate policy milestones
A booster reward of 12% of the basic sum assured will be credited3 into your TIV4 account, provided the policy is in-force and all premiums due5 are paid up-to-date.
Boosted protection with optional riders
You can enjoy further peace of mind by attaching various optional riders to your SmartProtect Wealth 20 plan1 .
Maturity benefit at the end of your policy term
Once your policy matures, you will receive 100% of your total investment value less indebtedness (if any)1 .
Footnotes and disclaimers
Please do take note of the below to ensure you fully understand what this product does and does not cover.
1 Terms and conditions apply.
2 New regular premiums will be required during this extended term of coverage. You can terminate the Auto-Extension by notifying the Company at least 30 days prior to the initial or extended maturity of the policy.
3 On the policy anniversary of age 70 years next birthday or at the end of the 30th policy year, whichever is later.
4 Total investment value.
5 Including premiums due during the Auto-Extension period.
SmartProtect Wealth 20 is a regular premium investment-linked insurance plan. Some of the choice of funds invests in Shariah-approved securities. However, this is not a Shariah-compliant product. This plan is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. Premiums are payable until the end of the premium payment term, or until death or TPD or termination of the policy, whichever comes first.
You should satisfy yourself that this plan will best serve your needs and that the premium payable under the policy is an amount you can afford. A free-look period of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the Company shall refund an amount equal to the sum of:
a) the total investment values of the policy based on the net asset value at the next valuation date; and
b) the investment values of the units which have been cancelled to pay for insurance charges and policy fees; and
c) the amount of premiums that have not been allocated;
minus the expenses incurred for medical examinations, if any.
Net asset value is the single price at which the policy owner buys the units in a unit fund and sells the units back to the unit fund.
In cases where the purchase involves a premium of a sizeable amount (i.e. RM5,000 and more), you should consider purchasing a single premium investment-linked insurance plan as single premium plans offer better allocation rates for investment. However, please take note that single premium plans may not offer as much insurance protection as regular premium plans and may have less riders/supplementary benefits available.
You may stop paying the premiums and still enjoy protection as long as there is a sufficient total investment value to pay for the insurance charges, policy fee and supplementary benefit premiums, where applicable. However, there is a possibility of the policy lapsing when the required charges, including rider charges, exceed the value of the fund units available. Purchasing too many unit-deduction riders may deplete the fund units.
In the event the actual sustainability of the policy is reduced due to revisions to insurance charges, the Company may vary the Basic Annual Premium and any regular investment top-ups on the policy anniversary by giving you 3 months’ advance written notice.
Buying an investment-linked insurance plan is a long-term commitment. An early termination of the policy involves high costs and the withdrawal value is dependent on prevailing market value of the underlying assets of the unit fund. Therefore, the withdrawal value may be less than the total premiums paid. The policy value may rise or fall, based on the underlying performance of the funds. The performance of the funds is not guaranteed. Sustainability of the plan depends on the underlying performance of the funds. The investment risk under the policy will be borne solely by the policy owner. Past actual performance is not a guide to future performance, which may be different.
Any amount of the premium that has not been allocated to purchase units is used to meet the payment of commissions to intermediaries and general expenses of the Company. The Company reserves the right, in circumstances it considers exceptional, to suspend issuance or redemption of units.
The above is for general information only. It is not a contract of insurance. You are advised to refer to the Sales Illustration, Fund Fact Sheet, Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted above are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life.
If there is any discrepancy between the English, Bahasa Malaysia and Chinese versions of this brochure, the English version shall prevail.
The terms “Great Eastern Life” and “the Company” shall refer to Great Eastern Life Assurance (Malaysia) Berhad.
Information correct as at 17 September 2019.
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