Is "Greatlife Endowment Insurance 10" product good?

You need to compare with policy illustrations of other similar products from other companies to see if this is competitive. Don't fall for the gimmick of earning slightly higher interest and ended up buying a potentially uncompetitive product. It's not worth it. If you don't know how to compare, you can approach an IFA, a competent IFA can help you compare easily.

Hi Alicia, 'good' is a relative term, so you will need to have something else to benchmark it against before deciding if it is better than something else.

Your bonus interest on OCBC 360 is only earned for the first 12 months via the wealth component, and if you really want to maximise it, you have to make sure you have at least $70K in your account first. I personally would not purchase an investment product or UT just to earn this interest as your commitment on endowment will be for years and whatever extra interest you earn is only for a year. Likewise for UT, where you will be likely charged a sales charge, which negates your extra interest (only if you are not charged a sales charge, then go ahead).

But consider credit card spending, whereby you would have to spend anyway, and it is just a matter of placing the spend on an OCBC credit card.

Greatlife Endowment insurance is indeed similar to Great Wealth Multiplier, as both are perpetual endowments, whereby you save for a number of years and then the plan will 'roll' after that. If you were looking for such a plan, then I would recommend that you compare such plans with the assistance of an independent financial advisor in order to find the best plan for yourself. If it just happens to be that the OCBC plan is the best, then go for it, the extra OCBC 360 interest is merely a perk.