Any reviews on Great Eastern Great life advantage ILPs?

Compared to the previous version, Smart Life Advantage, there are new improvements to the plan that makes it more appealing. However, it may not be for everyone.

-No longer has bid offer spread of 5% (cost)

-Portfolio rebalancing feature to automatically realise profits or cut losses at a certain threshold level. (eg. If 2 funds bond & equity; if equity goes up beyond a certain level, the fund will sell units in equity to cash out and rebalance into bond fund) The feature is great because alot of people talk about buying low and selling high; but no one ever knows when the highs and lows really are. Majority of people invest like this: 1) Make profit; think investment will go up more and not sell when there's a margin to be made (greedy)

2) Totally forget about the returns and just let it continue without active management (complacent).

This process removes the emotional part of investment.

-Options for Multipay CI, Early stage CI or Critical Stage CI that can be customised by the client.

-Most people dislike ILP for fund management charges; one of the new funds introduced when GLA was released was the Greatlink diversified growth portfolio with management charges as low as 0.5% vs the traditional 1.5/1.6% in most equity funds.

Bear in mind, it is meant for protection rather than investments.

Between WL and ILP, both are inherently different and different people would be more inclined to different products.

Hi Anon,

Good is subjective. A plan may suit one but not be suitable for someone else of another profile. The advantage of this ILP is such that

• You may attach Multipay ECI rider

• You may increase sum assured without medical underwriting at certain milestones

• Like other ILPs, you may go on premium holiday

Do note that this ILP is insurance focused. You may wish to compare the pros and cons with a Whole Life Plan with your FA.

If you're looking to invest, look at Great Wealth Advantage instead, as 100% of your premiums will be invested there. ​​​