GREAT Flexi Goal: A Participating Endowment Plan from Great Eastern Life

Overview

GREAT Flexi Goal is a regular premium participating endowment plan from Great Eastern Life (rated AA- by Standard & Poor's). It combines medium-to-long-term savings with insurance protection, offering a guaranteed maturity benefit plus non-guaranteed bonuses linked to the performance of Great Eastern's participating fund. The plan pays a lump sum on death, total and permanent disability (TPD), or terminal illness — with the death benefit being the higher of 105% of total standard yearly premiums paid or the guaranteed surrender value, plus attaching bonuses. Notably, this plan is quoted by premium — the buyer chooses the annual outlay (illustrated range $2,500–$10,000) and the payout follows accordingly. Premium rates are guaranteed and will not change, and no medical underwriting is required.

How it compares

At a common basis of age 35, male, non-smoker, with a $10,000 annual premium, GREAT Flexi Goal offers a guaranteed surrender value at year 20 of $157,529. Its participating fund has delivered net returns of 2.39% (5-year) and 3.68% (10-year), with a total expense ratio of 1.54% over 5 years.

Against its peers, GREAT Flexi Goal sits in the middle of the pack on fund performance:

• AIA Smart Flexi Growth shows the strongest historical fund returns (2.90% 5-year, 4.70% 10-year) and the lowest TER at 1.30%.
• PRUWealth Plus (SGD) has a lower 5-year fund return (2.23%) but a stronger 10-year figure (3.95%), though with a higher TER of 2.27%. Its year-20 guaranteed surrender value is substantially lower at $56,179.
• Enrich goal (Etiqa) trails on returns (0.43% 5-year, 2.72% 10-year) with a higher TER of 1.93%.

GREAT Flexi Goal's projected yield to maturity ranges from 1.87% to 3.00% p.a. based on the benefit illustration rates of 3.00% and 4.25%. At a $2,500 annual premium, the illustrated surrender value at year 10 is $6,264 (projected up to $7,169), and at year 20 it is $39,382 guaranteed (projected up to $55,553). The maturity value at year 20 is $39,382 guaranteed, with up to $55,553 projected including bonuses.

Pros

• Guaranteed premiums — rates are locked in and will not change
• No underwriting required — easier to obtain
• Dual protection — covers death, TPD, and terminal illness alongside savings
• Reversionary bonuses become guaranteed once declared, adding certainty over time
• Strong insurer credit rating (AA- from S&P)
• Flexible premium choice — you decide your annual outlay

Cons

• Long-term commitment — early surrender (before 3 years) may yield zero or less than premiums paid; distribution costs on a $2,500 premium are $2,577
• Modest projected returns — 1.87%–3.00% p.a. yield to maturity may lag other investment options
• No cash coupons — payouts are only at maturity, surrender, or claim
• Not eligible for SRS or CPFIS premium payment
• Fund performance has been mixed — 3-year net return was just 0.71%, below the illustrated 3.00% rate
• TER has risen over time — from 1.49% (3-year) to 1.61% (10-year)

Who it may suit

GREAT Flexi Goal may suit savers seeking a disciplined, medium-to-long-term savings vehicle with built-in life protection, who value the certainty of guaranteed premiums and the potential for bonus enhancements. It is less suited to those seeking high growth, short-term liquidity, or who prefer to use SRS/CPFIS funds. Given the modest projected yields and the long lock-in period, it is worth comparing against AIA Smart Flexi Growth (stronger historical fund returns, lower TER) before committing.

This is general information based on CompareFIRST.sg data, not financial advice. Premiums and features can change; please verify with the insurer or a MAS-licensed financial adviser before making any decision.