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CASE STUDY 1: HENRY

Henry worked as a Systems Engineer in a leading MNC. His wife works in HR and, together with their two children, they live in a condominium.

Henry met with an accident and lost his right leg. Due to impaired mobility, he was unable to go back to his job. He took up a new role as a translator, which allowed him to work from home. PayAssure paid him a monthly income benet. Both sources of income allow him to maintain his current standard of living.

HENRY’S MONTHLY HOUSEHOLD EXPENSES

Mortgage Repayment

S$2,000

Food/Meals

S$1,400

Daily Necessities/Groceries

S$400

Car Loan

S$900

Utilities Bill

S$250

Children’s Education

S$500

Phone Bill

S$100

Insurance

S$500

Parents’ Allowance

S$800

Travel/Holiday

S$300

Entertainment

S$100

Miscellaneous

S$200

Total Monthly Expenses

S$7,450

POLICYHOLDER INFORMATION Occupation: Systems Engineer Monthly Salary: S$10,000 Reason for Disability: Gender: Accident Male Age at
POLICYHOLDER INFORMATION
Occupation:
Systems Engineer
Monthly Salary:
S$10,000
Reason for Disability:
Gender:
Accident
Male
Age at Entry:
40
Occupational Class:
1
Pre-Benefi t Period:
Benefi t Payable Period:
90 days
Up to age 60
Benefi t Amount:
S$7,500
Monthly Premium:
S$108.50 (standalone) §

HOW HENRY BENEFITTED

Age

Worked as a Systems Engineer, earning S$10,000

Receives S$7,500 as monthly income benet

In addition:

Up to S$22,500 of rehabilitation expenses reimbursement

(Pre-Disability Earnings – Present Earnings) Pre-Disability Earnings Monthly X Income Benefi t S$10,000 – S$3,000 Eg.
(Pre-Disability Earnings – Present Earnings)
Pre-Disability Earnings
Monthly
X
Income
Benefi t
S$10,000 – S$3,000
Eg.
X S$7,500
= S$5,250
S$10,000
Receives monthly benefi t of S$5,250 to supplement his reduced income Met with an accident S$7,500/mth
Receives monthly benefi t of S$5,250
to supplement his reduced income
Met with an
accident
S$7,500/mth
S$5,250/mth
40
50
52
60
Took up a new
role as a translator
earning S$3,000
S$3,000/mth
Benefi t payable
until age 60
(New salary)
90 days of
Pre-Benefi t Period
CASE STUDY 1: HENRY Henry worked as a Systems Engineer in a leading MNC. His wife

Premiums paid (10 years plus Pre-Benet Period):

S$13,345.50

Premium waived

Payout received (10 years less Pre-Benet Period):

S$661,500

§ Reduced premium if taken as a rider and/or based on an annual payment mode.

CASE STUDY 2: ESTHER

Esther lives in a 4-room HDB at with her parents and younger sister who are her dependants.

At age 35, she suffered a stroke, which left her right side paralysed. She was wheelchair-bound and went through a rehabilitation programme and treatment. During the time when she was unable to work, PayAssure paid her a monthly income benet.

At age 38, she fully recovered and went back to work.

ESTHER’S MONTHLY HOUSEHOLD EXPENSES

Mortgage Repayment

S$900

Food/Meals

S$300

Daily Necessities/Groceries

S$500

Transport

S$120

Utilities Bill

S$80

Phone Bill

S$60

Insurance

S$200

Parents’ Allowance

S$500

Total Monthly Expenses

S$2,660

POLICYHOLDER INFORMATION Occupation: Secretary Monthly Salary: S$5,000 Reason for Disability: Gender: Stroke Female Age at Entry:
POLICYHOLDER INFORMATION
Occupation:
Secretary
Monthly Salary:
S$5,000
Reason for Disability:
Gender:
Stroke
Female
Age at Entry:
30
Occupational Class:
1
Pre-Benefi t Period:
Benefi t Payable Period:
180 days
Up to age 65
Benefi t Amount:
S$2,500
Monthly Premium:
S$53.55 (standalone) §

HOW ESTHER BENEFITTED

CASE STUDY 1: HENRY Henry worked as a Systems Engineer in a leading MNC. His wife

Health Protection

PAYASSURE

Protect your salary with a nancial lifeline

Received S$2,500 as monthly income benet

Age

In addition: Worked as a secretary, earning S$5,000 Up to S$7,500 of rehabilitation expenses reimbursement Continued
In addition:
Worked as a secretary,
earning S$5,000
Up to S$7,500 of rehabilitation
expenses reimbursement
Continued to be covered
after her recovery.
(Resumed premium payment)
Suffered a
stroke
S$2,500/mth
30
35
38
65
Fully recovered

180 days of Pre-Benet Period

CASE STUDY 1: HENRY Henry worked as a Systems Engineer in a leading MNC. His wife

Premium waived

Premiums paid (5 years plus Pre-Benet Period):

S$3,534.30

Payout received (3 years less Pre-Benet Period):

S$75,000

§ Reduced premium if taken as a rider and/or based on an annual payment mode.

greateasternlife.com

CASE STUDY 1: HENRY Henry worked as a Systems Engineer in a leading MNC. His wife

A MONTHLY INCOME BENEFIT WHEN YOU NEED IT THE MOST

When illness or injury stops you from working, the lack of a regular income could add to your mounting stress and result in a vicious cycle. PayAssure helps you break this cycle by providing a monthly income benet of up to 75% of your average monthly salary 1 . What’s more, the plan even supplements your income if you go back to work in a reduced capacity 2 . Now let us help you take care of your expenses while you focus on your recovery.

VICIOUS CYCLE A
VICIOUS
CYCLE
A
PAYASSURE THE CYCLE BREAK WITH
PAYASSURE
THE CYCLE
BREAK
WITH
A MONTHLY INCOME BENEFIT WHEN YOU NEED IT THE MOST When illness or injury stops you

5 KEY BENEFITS OF PAYASSURE

Covers you when you are unable to work in your occupation

PayAssure is the rst in Asia to cover up to 75% of your average monthly salary 1 if you are unable to perform the primary duties of your own occupation 2 due to an injury or illness throughout the entire disability period

and suffer an income loss or reduction.

Supplements your reduced income

Continue to receive a partial monthly income benet to supplement your income when you return to work in a different occupation in a reduced capacity 2 .

Rehabilitation expenses benet

Be reimbursed for rehabilitation expenses e.g. physiotherapy for up to three times your monthly income benet.

Premium waiver

You are not required to pay any premium while you receive the monthly income benet.

Customised plan according to your needs

Choose the length of your Pre-Benet Period (60, 90 or 180 days) and also the age up to which you receive your monthly income benet (55, 60 or 65 age next birthday).

  • 1 This average is determined based on your earnings over the last 24 months for salaried employees and 36 months for self-employed at the time of application.

  • 2 Terms and conditions apply.

PAYASSURE

TAKE NOTE OF YOUR FINANCIAL COMMITMENTS

Mortgage payments, children’s school fees, grocery bills ...

monthly

nancial commitments continue to

grow. A survey by the Department of Statistics has shown that the average monthly household income expenditure in Singapore was S$3,764 in 2008*. Assuming an average ination rate of 3.5% per annum in Singapore, this gure is expected to be S$4,789 in 2015! Even with a regular income, staying on top of bills requires careful planning.

So how would you cope should you unexpectedly nd yourself unable to work due to an illness or injury?

PayAssure covers up to 75% of your average monthly salary and even supplements your income if you return

to work in a reduced capacity .

To fully appreciate the income protection that PayAssure offers, complete the budget planner below.

Average Monthly Salary

Monthly Expenditure

Average Cash Expense Amount (S$)

Basic Items

Mortgage Repayment/Rent Food/Meals Daily Necessities/Groceries Car Loan/Transport Utilities Bill Children’s Education/Enrichment Fee

Phone Bill (Home + Mobile + Broadband)

Insurance Parents’ Allowance

Lifestyle Items

Travel/Holiday Entertainment/Social Activity

Miscellaneous (Shopping, facial, gym membership)

Your Total Monthly Expenditure (Basic + Lifestyle)

Average Monthly Savings

* Household Expenditure Survey 2007 – 2008, Singapore Department of Statistics.

This average is determined based on your earnings over the last 24 months for salaried employees and 36 months for self-employed at the time of application.

Terms and conditions apply.

A MONTHLY INCOME BENEFIT WHEN YOU NEED IT THE MOST When illness or injury stops you

WHAT YOU SHOULD KNOW

HEALTH MATTERS

About 5,700 3 stroke cases a year in Singapore, some patients as young as 15.

Recovery usually takes place in 3 to 6 months but may continue for many years.

A third of stroke patients do not recover at all. 4

A MONTHLY INCOME BENEFIT WHEN YOU NEED IT THE MOST When illness or injury stops you
  • 3 Device ‘improves stroke recovery’, 12 Apr 2013, the Straits Times.

  • 4 singhealth.com.sg

  • 5 Lifestyle choices ‘cut colon risks’, 27 Mar 2013, the Straits Times.

  • 6 Department of Statistics.

Colorectal Cancer:

Singapore’s most prevalent

cancer with 8,459 5 new cases

between 2007 and 2011.

9106 road accident injuries and 195 fatalities in Singapore 6 in 2012.

If you cannot work due to an illness or injury, are you able to fall back on your alternative nancial sources?

Savings

Employment Insurance benefi t Sale of Government possessions support Spouse’s income Help from family or friends
Employment
Insurance
benefi t
Sale of
Government
possessions
support
Spouse’s income
Help from family
or friends

Disclaimer:

This sales kit is for general information only. It is not a contract of insurance. The precise terms and conditions of this insurance plan are specifi ed in the policy contract. Buying a life insurance policy is a long term commitment. An early termination of the policy usually involves high costs and the surrender value payable, if any, may be less than the total premiums paid. It is usually detrimental to replace an existing accident and health plan with a new one. A penalty may be imposed for early plan termination and the new plan may cost more or have less benefi ts at the same cost. This information is confi dential and strictly for internal circulation only. It is not to be reproduced, in whole or in part, for external circulation to policyholders or prospects for whatever purpose.

The presented solution is for illustrative purpose and does not have regard to the specifi c investment objectives, fi nancial situation or particular needs of any specifi c person. For completeness, customers should go through a proper fact-fi nding with a Distribution Representative to establish individual needs, personal risk profi le and suitable product recommendations.

This plan is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your

policy is automatic and no further action is required from you. For more information on the types of benefi ts that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

Information correct as at 1 July 2013.

The Great Eastern Life Assurance Company Limited (Reg No. 1908 00011G)

  • 1 Pickering Street, #13-01 Great Eastern Centre, Singapore 048659 Product Enquiry Line: +65 6248 2211