Great Eastern Critical Illness Review: Who Does it Benefit?
Great Eastern Critical Illness Review: Who Does it Benefit?
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Pros
- Individuals looking to customise their coverage with multiple payouts for up to 3 claims episode.
- Individuals who only want coverage against the top 3 critical illnesses
Cons
- Consumers on a tight budget
Great Eastern's GREAT Critical Cover Series is a unique critical illness plan that stands out due to its flexibility. For instance, it can be easily purchased online—unlike other critical illness plans that require you to either first purchase a life insurance policy or go through an insurance agent.
You are also able to tailor your coverage to suit your needs. You can get overage for a total of 53 critical illnesses, 16 more than the minimum 37 illnesses other critical illness plans cover. If you do not need such comprehensive coverage, you are also able to opt to just cover the top 3 critical illness conditions or even purchase the protect me rider so that you can gain additional coverage of 100% lump sum payout for multiple critical illness episodes.
| Summary of Great Eastern GREAT Critical Cover |
|---|
| Purchasable online on your own without a need to have a life insurance policy |
| Covers up to 53 critical illnesses; able to get coverage for just the top 3 critical illnesses if you do not need full coverage |
| Has an add-on rider option available to gain coverage of 100% lump sum payouts for an additional two critical illness episodes |
Great Eastern GREAT Critical Cover Highlights
Great Eastern's GREAT Critical Cover Series is a critical illness plan that provides customisable coverage so that you are able to tailor your coverage to your needs. It is also one of two critical illness plans that can be purchased online, making it convenient for those that don't have time to visit an insurance agent.
In terms of coverage, under the standard coverage, you are able to receive a 100% lump sum payout upon diagnoses of 53 critical illnesses at an early, intermediate or critical stage.
You can also add an optional “Protect Me Again” rider to provide coverage for two additional episodes of critical illness. How this works is that you will receive a lump sum payout of 100% of the sum assured after your diagnosis of one of the 53 critical illnesses. If you have purchased the optional Protect Me Again rider, your coverage will restore to 100% after a lump sum payout and you will once again be fully covered against the 53 critical illnesses. In total, with the rider, you are able to receive three lump sum payouts of 100% of the sum assured upon diagnosis of a critical illness.
Another feature that makes the Great Eastern’s GREAT Critical Cover incredibly flexible is that you are able to reduce your coverage if you do not think you need coverage for all 53 critical illnesses. If you are only looking to get coverage for the three most common critical illnesses, namely cancer, heart attack and stroke, you are able to do so with the Top 3 CI version of the critical illness plan. This allows you to tailor your coverage to fit your needs so that you are not over-insured.
Policy Exclusions
Great Eastern's GREAT Critical Cover plan is eligible to consumers between 1 to 60 (age next birthday) who are existing Great Eastern or Dependants' Protection Scheme customers. For a list of policy exclusions, you should consult your policy document.
Claims & Contact Information
You can submit your critical illness claim through your distribution representative or by post to Great Eastern's Claims Department (see table below). You can check the status of your claim online via e-Connect. You should carefully follow the instructions provided by Great Eastern and submit all the required documentation to avoid delaying your claims payout.
| Contact Information | |
|---|---|
| Customer Service Hotline | 1800 248 2888 |
| Product Enquiry Hotline | +65 6248 2211 |
| [email protected] | |
| Mailing Address | The Great Eastern Life Assurance Company Limited, 1 Pickering Street, Great Eastern Centre #13-01, Singapore 048659 |
| Claims Submission | Documentation and Instructions |
Great Eastern GREAT Critical Cover Summary
If you are looking for a critical illness plan that will give you the most flexibility, then the Great Eastern’s GREAT Critical Cover Series may be appropriate for you. However, you should always carefully weigh the benefits of any insurance policy against your ability to pay.
Please note that you should speak to a financial representative if you are unsure how long-term insurance options like health, life and critical illness policies will affect your financial situation. You can speak to a Great Eastern financial advisor by filling up the form here.
If you want to compare how Great Eastern's critical illness policy compares against others on the market, you can read our guide to the best critical illness plans in Singapore.