facebookFor Great Eastern MaxGrowth Enhanced, what is Survival Benefit? - Seedly

Advertisement

Anonymous

07 May 2021

Retirement

For Great Eastern MaxGrowth Enhanced, what is Survival Benefit?

Dear Experts,

My mother bought an endowment from OCBC in 2013. I noticed that the banker told her that she is only required to pay $30,000 over 5 years. However, contract stated that she is required to pay $6,000 annually over 10 years.

I called up the banker and she told me that my mother will receive Survival Benefit for the last 5 years of her policy. When probed further, she just brushed me off.

May I know what is a survival benefit and how does it work in this scenario?

Thank you.

Discussion (9)

What are your thoughts?

Learn how to style your text

Tan Siak Lim

13 Oct 2021

CFP. Director, Financial Advisory Group at Financial Alliance

I believe that means the remaining 5 years will be self-funding

Yes the banker told me paid 5 year then another 5 year will paid by insurancs am I right?that mean 100% cover or ?

Loh Tat Tian

04 Oct 2021

Founder at PolicyWoke (We Buy Insurance Policies)

If I am not wrong, survival benefit is the cashback that your mum can receive. Hence they usually us...

Write your thoughts

Advertisement