Great Eastern GREAT Flexi Goal Review [2023] | Dollar Bureau


Great Eastern GREAT Flexi Goal Review

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great flexi goal review

Table of Contents

GREAT Flexi Goal is a regular-premium endowment plan that provides potential returns to help you confidently reach your goals.

The plan guarantees your capital upon maturity and lets you invest in their pretty decent par funds.

Here’s our comprehensive review of the GREAT Flexi Goal to help you decide if it’s the right policy to meet your needs.

Read on;


  • Minimum premium of $100/month
  • Policy term of 15 or 20 years
  • Premium payment term of 15 or 20 years


General Features

Policy Terms

The plan offers different premium terms to match your individual needs.

You can choose a plan that suits you with an affordable contribution of $100 every month.

Notably, this policy comes with fixed premiums that won’t be subject to any modification.

With GREAT Flexi Goal, you can opt for a 15-year term or choose a 20-year term. Also, you can choose between the following;

  • Limited or Full Pay for the 20-year term
  • Full Pay for both 15 and 20-year terms


Basically, if you choose the 20-year policy term, you may opt for the limited pay option so that you will only need to pay your premiums for 15 years.

If you choose this option, note that it will affect your maturity benefit and/or premiums.

Premium Allocation

As this is a participating policy, it’s important to understand what types of investments your premiums are allocated to:

Asset Allocation Goals Actual Allocation
Equities 20% 23%
Bonds 66% 61%
Properties 10% 8%
Loans 4% 3%
Cash & Equivalents 0% 5%
Others 0% 0%

Accurate as of Dec 2021.

Payout Options

Unlike other endowment plans, the only payout you’ll get is at the end of your policy term, AKA your maturity benefit at either 15 or 20 years.

At maturity, the maturity benefit includes bonuses, if applicable. However, these benefits can only be paid out if the life assured remains alive.

The death benefit will be paid if the life assured has passed.


Death Benefit

If death occurs, your beneficiaries will receive the following in a single lump sum, including any bonuses;

The higher of

  • The guaranteed surrender amount, or
  • 105% of the sum of standard annual premiums paid


The surrender amount differs from policy to policy, so check the benefit illustration of your policy.

Total and Permanent Disability (TPD) Benefit

If an accident happens and you become disabled such that you can’t perform any of the 6 ADLs, you will receive the death benefit as a single payment.

If you become totally and permanently disabled, the death benefit will be accelerated and paid in a lump sum.

Here are the TPD definitions laid out by Great Eastern for the GREAT Flexi Goal:

GREAT Flexi Goal TPD definition

The maximum amount payable for TPD, including riders, is $5,000,000 across all policies.

Terminal Illness Benefit

The death benefit will be paid in one lump sum upon a diagnosis of an illness that will result in the life assured’s death within 12 months.

Optional Riders

The plan allows you to boost your coverage with optional riders. Personal Accident and Waiver of Premiums are some available options to increase your protection.

Key Features

Reversionary Bonus

The reversionary bonus is usually declared on an annual basis and, once declared, will contribute to the total guaranteed benefits of the policy.

The benefit can, however, only be added after 3 consecutive years or at Great Eastern’s discretion.

The following table shows the illustrated reversionary bonus rates for GREAT Flexi Goal and GREAT Flexi Goal (Limited-Pay):

great flexi goal reversionary bonus

Two IIRRs are provided for illustration purposes only. They do not represent the future performance of the participating funds.

Terminal Bonus

The terminal bonus (if any) is a single payment which will be paid out upon either submitting a claim under the policy, the policy’s maturity, or on surrender of the policy, whichever event occurs first.

Participating Fund Performance

Now when you’re investing in an endowment or annuity plan, it’s important to take a look at the performance of the par fund.

To recap, here is the asset allocation of the participating fund as of December 2021.

Asset Allocation Goals Actual Allocation
Equities 20% 23%
Bonds 66% 61%
Properties 10% 8%
Loans 4% 3%
Cash & Equivalents 0% 5%
Others 0% 0%

As of December 2021, here is how the par funds have performed:

GREAT flexi goal participating fund performance

Based on 5- and 10-year annualised returns, it’s 5.78% p.a and 5.52% p.a, respectively.

I think these are decent performances for par funds as it meets the industry average.

The table below shows the geometric (3, 5, and 10-year) net investment returns of par funds across life insurers in Singapore – so the GREAT Flexi Goal is pretty good.

insurers geometric average

However, note that the data is dated and does not reflect future performance.

Total Expense Ratio

When looking at par funds, you should also consider the total expense ratio, which measures the total costs incurred to manage them.

This is crucial as it determines how much returns you’ll make. Here are the expense ratios shared by Great Eastern:

GREAT Flexi Goal expense ratio

Again, these numbers will mean nothing unless compared against others, so here’s the table of average expense ratios across life insurers in Singapore:

insurers expense ratio

As you can see, Great Eastern’s par funds perform above average in terms of the expense ratio, ranking 4th out of 8 companies measured.

Surrendering Your Policy

After paying a minimum of 3 consecutive policy years in premiums, you can surrender your policy.

On surrender of the policy, you will receive any declared and terminal bonus (if applicable), subject to any amounts payable under the policy being deducted first.

The surrender value varies across different policies; thus, look at your policy documents for more information.

GREAT Flexi Goal Fees And Charges

The fees and charges for the GREAT Flexi Goal are already calculated in the premiums you’ll pay – so don’t be worried about paying additional or unexpected charges.

An Illustration of How the GREAT Flexi Goal Works

Assume that Peter purchases a GREAT Flexi Goal for his one-year-old son Braden to save some money for his university education.

He chooses a premium payment term of 15 years and a policy term of 20 years. In addition, he makes $6,000 yearly payments.

The following table illustrates how his investment grows;

Age- Life Assured Value
1 year Father invests $6,000 annual premium for son
15 years total premiums paid


6,000 x 15= $90,000



At 21 years old Guaranteed Maturity Benefit $94,571
Non-guaranteed Maturity Benefit $38,807
Total Illustrated Maturity Benefit $133,324

Assumption: Total IIRR 3.00% per annum.

When Branden reaches 21 years old, he is expected to receive $133,324. Of that amount, $94,517 is guaranteed, and $38,807 is non-guaranteed.

Summary of the GREAT Flexi Goal

Cash & Cash Withdrawal Benefits
Cash Value Available
Cash Value Benefits NA
Health & Insurance Coverage
Death Available
TPD Available
Terminal Illness Available
Critical Illness N/A
Early Critical Illness N/A
Health & Insurance Coverage Multiplier
Death N/A
Terminal Illness N/A
Critical Illness N/A
Early Critical Illness N/A
Additional Benefits
Optional Add-on Riders NA

My Review of The GREAT Flexi Goal

I would say that Great Eastern’s GREAT Flexi Goal is a pretty decent endowment plan due to its par fund performance and competitive expense ratios.

Premiums start at only $100/month, making it an affordable choice for many Singaporeans.

It also offers you terminal illness, death, and TPD coverage should you be the life assured.

Oh, this policy guarantees your capital upon maturity – ideal for you if you don’t want to take too much risk.

However, if I were to compare this against other endowment plans, the biggest difference would be its lack of flexibility.

Firstly, you have no withdrawal options should you need them, only when it matures.

There are no options to freeze premiums temporarily, appoint a second life assured, or change the life assured, and the premium payment terms are limited to either 15 or 20 years.

If you’re looking for flexible premium payment terms, Prudential’s PRUActive Saver III is pretty good.

Have no set maturity date and don’t mind leaving your monies in a policy? Check out Singlife’s Flexi Life Income.

What about a feature-packed endowment plan? The Manulife ReadyBuilder packs a punch with its array of features.

Before deciding to commit to an insurance policy, it’s important to take the time to compare various policies across insurers.

Not all insurance policies are created equal; even small differences in product features, benefits and payouts can make a huge difference.

Thus, I suggest reading our list of best endowment plans in Singapore – you’re sure to find something better for yourself.

Otherwise, I recommend speaking to one of our MAS-licensed partners who can help you find the best policy based on your needs.


Disclaimer: Each article written obtained its information from reliable sources and should be purely used for informational purposes only. The information provided by Dollar Bureau and its affiliated parties is not meant to be construed as financial advice. Dollar Bureau shall not be held liable for any inaccuracies, mistakes, omissions, and losses incurred should you act upon any information listed on this website. We recommend readers to seek financial planning advice from qualified financial advisors. 

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