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Great Junior/Income Advantage Series 2 : Whole Life Income Plan

Started by KCLau · 1 year ago

On the past Monday and Tuesday, I posted about two bestselling product from Great Eastern insurance product reviews. Today, we are going to learn another special product known as tri-generation benefit plan by other company. On tomorrow and the day after that, I will cover another two quite popular insurance plan. Here is the schedule:
Monday: […] ... Continue reading »

10 comments

andree
10 months ago

This policy would be great for those who can live till 87 years old. How abt someone death within the 5th - 10 th years of premium. They will lost compare to wht they gave?

reply

KCLau
10 months ago

the beneficiary will get the sum assured, which is always higher than the total premium paid.

reply

crane
10 months ago

how about after 10 years tpd happen?

thankyou!

reply

KCLau
10 months ago

can claim the total death benefit
or don't do anything and still receive the yearly payment

reply

Li
7 months ago

Just to check, is there any single premium for this insurance product? Any deduction on the premium?

reply

KCLau
7 months ago

Yes. It used to have advanced premium discount. But this year GE
introduced APA account - advanced premium account. Your advanced
premium will get 4% per annum interest, and being used to pay premium
when it is due.

Http://Kclau.com

reply

Sam
7 months ago

With reference to this plan, what is the min monthly premium payable ?

If I pay RM300 monthly, how much annually I get after 10 years?

What happened if < 10 years I lose my job and have no money to pay the monthly premium, will this plan automatically forfeitted by the insurance company? Or I can pause and continue later?

What is the disadvantage of this plan?

reply

KCLau
7 months ago

Hi Sam,
Regarding you question:

1. Min monthly payment is about RM300.. slightly different depends on age
2. If pay RM300/month, the payout is about half of it on the 10th years
onward (about RM1800/year)
3. If you can't afford to pay any premium, you can stop for a while. But the
plan have to be fully paid within the first 10 years. If you not, the
feature won't kick in at the end of the 10th year. If there is some premium
loan, you will need to pay some interest charges on daily basis (7% p.a.)
4. Disadvantage - you need to commit at least 10 years for premium payment
(force saving). It is not very liquid although you can take premium loan.

KC

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