Singapore:Great Eastern extending help to single parents with multi-generational critical Illness protection

| 14 Nov 2019

Single parents have a lot on their plate, are often overworked and their sacrifices for their families overlooked. For them, insurance may seem like a luxury and not a necessity. Not because they do not think it is important, but because they have many other financial commitments which they have to manage on their own.

Great Eastern recognises that parenting is no easy feat, and even more so for single parents. While they have launched the GREAT Family Care that addresses the financial needs of the sandwich generation in May 2019, Great Eastern is now stepping in to help with the strain faced by single parents by co-funding 50% of the first-year premiums for the GREAT Family Care plan. 

The GREAT Family Care plan is a multi-generational critical illness plan that covers three generations in a single policy. Launched with the intention of supporting the sandwich generation- individuals who bear the responsibility of caring for young children and aging parents, while juggling other financial responsibilities such as housing loans and childcare costs.

Today, about one in every four working adults is part of the sandwich generation and the GREAT Family Care plan is an innovative package designed specifically to address their protection needs.

 

 

Key features of GREAT Family Care include complimentary coverage for all current and future children of the life assured up till the age of 18 years, with each child enjoying comprehensive coverage of up to $100,000 against 53 critical illnesses and 25 juvenile conditions such as severe asthma and epilepsy with no medical underwriting required.

The plan also boasts another first in Singapore benefit in providing coverage against major cancers, Alzheimer’s disease or severe dementia and Parkinson’s disease for the parents of the life assured without any medical underwriting, through a Parent Protect rider. These illnesses are covered as they commonly affect the elderly and pose a long-term strain on their families and caregivers. A lump-sum payout will help to ease the financial burden on these families and enable them to provide the necessary quality care for their parents. Each parent can be covered up to $100,000 till the age of 100.

 

Terms & Conditions

  • Interested customers must register their interest at https://gelife.co/StrongestSingles by 31 December 2019.
  • The 50% co-funding offer is applicable to the first 111 single parents who have registered their interest and is only valid for the first-year premium of GREAT Family Care.
  • To benefit from the co-funding scheme, the policy must be inforced by 31 January 2020.

For more details, contact +65 6248 2211 or email wecare-sg@greateasternlife.com 

 

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