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Great Eastern Smart Life Advantage Annual Charges VS Annual Premium Paid

This post is a follow-up from our last article on PruLink Protection Plus Account. We received several enquiries, and one of them is to review Great Eastern Smart Life Advantage. It is an investment-linked plan from Great Eastern, and it is of similar nature to Prudential’s plan.

He wanted to our 2nd opinion urgently as he has just committed the plan but yet to made the first payment. So we did an analysis to illustrate the insurance charges and policy fee of Great Eastern Smart Life Advantage. Do note that the analysis below excludes the additional expensive cost of smart critical care waiver rider. If we were to add in the cost of riders, it would be even higher.

Great Eastern Smart Life Advantage Insurance Charges

In this case,  our prospective client is a non-smoker male, current age 47. He was recommended a coverage of $250,000 Death/TPD, $100,000 Smart Critical Care (Advance Stage CI coverage) and $100,000 of Smart Early Critical Care. The annual premium is $6,600 per annum. The total insurance charges from age 47 to age 80 is a whopping $359,467! Please refer the table below

Great Eastern Smart Life Advantage Insurance Charges

You may notice that the insurance charges exceed his annual premium at his age 62, and that’s only 15 years into the policy term. The insurance charges escalate exponentially after that. We show him several other scenarios till age 70, 75, 85 and 90 so that he has a better overall picture. Needless to say, he was very grateful for our analysis.

As per our last article, we have uploaded a scale down version of the analysis that you can test drive our analysis (download here) if you are looking into Great Eastern Smart Life Advantage.

Great Eastern Smart Life Advantage Charges Illustrator

Instruction: Change the values in blue boxes to suits your policy

  1. Key in your age at the “Start age”
  2. Select the ending age
  3. Key in your annual insurance premium
  4. Choose the amount of death/TPD, terminal illnesses coverage in your policy
  5. Select the amount of crisis coverage (advance stage CI coverage) in your policy

To review your existing Great Eastern Investment link plan

To know more about the policy and insurance charges of investment link plan

To learn more about the alternative options of investment link plan.

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Besides Great Eastern Smart Life Advantage, you may want to read more on other insurance at our homepage.

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