Everything to Know About the Great Eastern Endowment Plan, GREAT SP

The Great SP is a two-year Single Premium endowment plan that provides guaranteed returns of 3.20% per annum. Here’s what you need to know about it.

great eastern endowment plan great sp

An endowment insurance plan is akin to a savings plan to help you meet specific financial goals, with a part of your premium going towards insurance coverage while the rest is invested and subject to risk.

Payment for the plan can be done as a lump sum (“single premium”), or regularly throughout the premium payment period (“regular premiums”).

Endowment insurance plans come with varying maturity periods. Some span up to 15 years, while others have shorter maturity periods like the GREAT SP underwritten by Great Eastern.

In case of your demise, an endowment insurance plan would pay a death benefit, although the sum may differ from plan to plan. For the GREAT SP endowment plan, 105% of your premium will be paid upon death if the policy is still in force for age 80 and below. That means a sum of S$10,500 will be paid out to your claimant or beneficiary if you paid S$10,000 for this policy.

What is the Great Eastern Endowment Plan?

Details GREAT SP
Premium Single premium
Maturity Period 2 years
Premium AmountS$10,000 (minimum amount) 
Maturity Return3.20% p.a. guaranteed returns upon maturity
Death/TPD Benefit 105% of a single premium 
Policy ProtectionUp to specified limits by SDIC
Underwriting RequirementsNo medical assessment required


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The GREAT SP is a single-premium, non-participating life insurance savings plan. It has a maturity period of two years* and requires a minimum premium of S$10,000. You are guaranteed, on top of 100% capital preservation, a 3.20% per annum return as a maturity benefit upon completing the policy term. 

Under Guaranteed Survival Benefit, the Great SP will pay a guaranteed survival benefit on the survival of the life assured at the end of the 12th policy month and the 24th policy month.

Upon death or TPD, there is a benefit of 105% (exclusions apply) of the premium paid. Policy Protection will be up to specified limits by SDIC. Kindly refer to their Product Summary for more details. You can also apply online using Singpass MyInfo.

Summary of GREAT SP

Highlights of the plan include:

  • Short two-year commitment
  • 100% capital guaranteed at the end of two-year policy term
  • High interest rates at 3.20% p.a.
  • Comes with insurance coverage for Death/Total and Permanent Disability

How can I learn more about the GREAT SP?

More details can be found here.

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Cover Image: Great Eastern

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