Affordable Term Life Insurance For Seniors Over 60 – ⚠️ WARNING: We have been alerted to calls from people pretending to be Great Eastern employees or agents regarding CareShield Life matters. Please do not answer such calls and do not disclose any personal information.
Time is precious when you are young and just starting out in life. You work hard to create your achievements, goals and dreams. Knowing that whatever you set out to achieve is well secured will give you the confidence to reach greater heights. That’s why we’ve made lifetime protection affordable, simple and easy for you.
Affordable Term Life Insurance For Seniors Over 60
Great Term, an affordable insurance plan, provides cover for death and terminal illness. It provides the flexibility to add optional additional riders to cover Total and Permanent Disability (TPD).
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Based on a 25-year-old male non-smoker purchasing a premium term with TPD benefits, with a sum assured of S$300,000 and a policy term of 40 years. The total annual premium is S$311.95, the premium amount shown divided by 365 days, rounded to the nearest percentage.
Life Care Rider and Comprehensive Life Care Rider surcharges are not guaranteed and may be adjusted based on future experience.
The TPD facility is an optional additional endorsement that can be added when purchasing through a Great Eastern Financial representative. Otherwise, TPD facility is a mandatory endorsement if purchased directly online.
These critical illness riders may be added when purchased through a Great Eastern Financial representative, but do not apply to policies purchased directly online.
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Conversion facility is applicable on Great Term Policy, PDT Facility, Comprehensive Living Care Rider and Living Care Rider. Conversion Privilege enables riders (along with the Basic Plan) to convert to a new TPD or Critical Illness benefit providing equivalent or similar coverage (as determined by us), without proof of insurance, provided the conversion period has been met as per applicable rules. This conversion privilege is not applicable to policies purchased directly online
Above is for general information only. This is not an insurance contract. The exact conditions for this insurance are specified in the insurance contract.
As this product has no savings or investment features, there is no cash value if the policy is closed or early closed.
You may seek the advice of a financial advisor before committing to this product. If you decide not to seek advice from a financial advisor, you should consider whether this product is right for you.
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This policy is protected by the Policyholder Protection Program administered by the Singapore Deposit Insurance Corporation (SDIC). Your insurance coverage is automatic and requires no further action on your part. For more information on the type of benefits included under the scheme and coverage limits, if any, please contact us or visit the websites of the Life Insurance Association (LIA) or SDIC (www.lia .org.sg or www. .sdic). org.sg). We’ll help you check if your insurance cover is right for you at this stage of your life (and let you know when your needs change).
We shop among suppliers without bias, so you get the best choices. Our support is always continuous from purchase to service depending on your needs.
Our team of licensed experts is here to answer questions, handle paperwork and help you make decisions with confidence.
Our complaints team will get back to you within a day. You will not only have one person to help you, but a team of experts working to handle your needs. That is our promise.
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I last reviewed my insurance coverage several years ago and was amazed that PB provided me with an insurance assessment tool that calculated and explained my needs. After syncing my policies, I also got a complete picture of my coverage gaps and duplicates
Excited when I found this app…I track all my expenses through Excel and this app has changed my spending habits! Much more aware of spending and savings now that it’s clearly stated to me without having to do the math, and now I have realistic savings goals to reach for my home purchase.
My parents bought me health insurance before I started working, but I wasn’t sure what it covered. PB’s built-in assessment helped me understand what my current insurance covers and suggested updates to my old plan that I had overlooked. I’m really glad I did this before I complained.
I did the “income protection” assessment and realized that my critical illness cover was now inadequate as my expenses had increased. I spoke to one of their advisors and he explained to me what options I had to close the gap.
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A really great app to track my expenses! The app is beautifully designed and syncs easily with multiple banks in Singapore. The auto categorization feature is very useful and saves me time by categorizing each transaction.
As someone who is not financially savvy, this app is a godsend. I can see my assets in all organizations in one application. I get an idea of my expenses instantly, without having to go through the tedious process of entering them manually.
You can see how much time, energy and thought went into the design. When you sync your bank account, it tells you the status of your request so you can know and anticipate interactive steps as needed. Details of small customer facing issues that the team has resolved.
This app presents a clear picture of my finances across my various bank accounts in Singapore and Hong Kong. I also like how I can see at a glance any suspicious charges on my credit card and when I need to pay for my insurance plan.
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This app has simplified the insurance terms so that it is easy for me to remember the policies I have purchased Being able to see my life insurance from Prudential and my car insurance from AXA makes it so convenient. It also saves me remembering my car insurance renewal dates.
Thanks to their recommendation, I purchased a CareShield Life supplement. There is a good balance between technology and human interaction in the purchase process, as I was able to speak to one of their advisors to clear any doubts before purchasing.
All data is read-only and we do not store your login details or passwords. We cannot transfer funds to or from your account, nor can we make changes to your policy.
Planner Bee works on single read-only access and uploads transactions on your behalf. For some banks, for security reasons, you will receive a new one-time password each time you log in Once the connection is established, the latest data will be safely restored. Term life insurance, also known as pure life insurance, is a type of death benefit that is paid to the policyholder’s heirs for a specified period of time.
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Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent cover or let the life insurance expire.
When you buy a life insurance policy, the insurance company determines the premium based on the policy value (payment size) and your age, gender and health.
In some cases, a medical examination may be required. Insurance companies may also tell you about your driving record, current medications, smoking status, occupation, hobbies and family history.
If you die during the policy term, the insurance company will pay the face value of the policy to your beneficiaries. This cash assistance, which is mostly tax-free, can be used by recipients for, among other things, your health and funeral expenses, consumer loans or mortgage loans.
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If the policy expires before your death, no payment is made. You may be able to renew a term policy once it expires, but the premium will be recalculated based on your age at the time of renewal.
A term life insurance policy has no value beyond the guaranteed death benefit. There is no savings component available in a whole life insurance product.
Term life insurance is generally the cheapest life insurance available, as it provides a benefit for a limited period of time and only provides a death benefit. For example, a healthy 35-year-old male non-smoker can get whole life insurance with a $500,000 benefit starting in 2021 for an average of $28 per month. At age 50, the premium will increase to $71 a month.
Depending on the issuer, buying whole life will result in significantly higher premiums, perhaps $200 to $300 a month or more.
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Most permanent life insurance policies expire without paying a death benefit. It reduces the overall risk of the insurer as compared to permanent life insurance. Reduced risk allows insurance companies to charge lower premiums.
Interest rates, insurance company finances and national regulations can also affect premiums. In general, companies often offer better rates at “breakpoint” coverage levels of $100,000, $250,000, $500,000 and $1,000,000.
When you consider the amount of coverage you can get for your premium, term life insurance tends to be the cheapest life insurance option.
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