Cash Plus 2

What is Cash Plus 2?

Cash Plus 2 is an endowment plan that helps you to achieve your life goals by saving in a disciplined manner, while providing you with annual cash payments and coverage for death or disability.

Key Benefits of Cash Plus 2

Details about Guaranteed Cash Payments

Receive guaranteed payments at the end of each policy year, starting from the end of 1st policy anniversary until death, TPD, surrender or maturity of policy, whichever occurs first. You may choose to withdraw the GCP in cash or leave it with the Company to accumulate interest. The payment schedule is as shown below:

Policy Year GCP based on % of Basic Sum Assured
Year 1 to 6 6%
Year 7 to 12 8%
Year 13 to 14 20%
Year 15 22%

Details of Maturity Benefit:

Receive the following benefits upon maturity in one lump sum

  • Guaranteed Maturity Benefit (GMB) amounting to 100% of Basic Sum Assured (BSA);
  • Final year GCP (including any accumulated GCP, if any); and
  • Total Investment Value which may include potential investment upside (if any); and
  • Less indebtedness (if any).

Death or Total and Permanent Disability Benefit (TPD):

Death or Total and Permanent Disability:

  • Guaranteed Death Benefit (as shown in the table below)
Entry Age (Age Next Birthday) Guaranteed Death Benefit (GDB) (% of total premiums paid*)Less total GCP paid
Up to age 55 115%
Age 56 and above 110%

*excluding any extra premium and advanced premium paid (if applicable)

  • Accumulated GCP and interest, if any
  • Total Investment Value which may include potential investment upside (if any)
  • Additional 100% of GDB1 for death or TPD due to an accident
  • Additional 200% of GDB1 for death due to an accident resulted from any of the following events:
  • Travelling in public conveyance (licensed commercial airline operating on a regular scheduled route, or a commercially licensed public transportation (limited to vehicles and trains that are operating on the road and railway only) over an established route with regular schedule such as bus, train, or monorail. A cable car, taxi, hired car or any form of transport chartered for private travel, is excluded); or
  • Riding as a passenger in an elevator or electric lift (elevator or electric lift in mines or in a building under construction is excluded); or
  • In consequence of the burning of any theatre, cinema, hotel or other public building in which the Life Assured shall be present at the time of commencement of the fire.
  • * The additional accidental death or accidental TPD benefit is only applicable within the policy term and prior to the policy anniversary on which the Life Assured attains age 70 next birthday. It is subject to a maximum of RM2,000,000 under this policy and all other policies (including basic plans and riders, if any) which provide for accidental benefits issued by the Company for this distribution channel on the same Life Assured. Terms and conditions apply.

Details of Potential upside from investments:

Receive potential upside on investment where 15%2 of your premiums paid will be apportioned to your IL Component that is invested into Lion Balanced Fund3, managed by the Company. You may choose to accumulate it with the Company to earn interest or withdraw annually to fund your yearly expenses.

If you like the performance of your IL Component, you can choose to invest more into your IL Component starting from a minimum of RM1,000 for a single premium top-up.

  • 2 Out of the 15% of the total premiums paid that is allocated to the IL Component, 95% is utilised to purchase units of investments whereas the remaining 5% will be used for payment of commission to OCBC Bank and other management expenses incurred by the Company.
  • 3 Lion Balanced Fund – A fund which invests in a mixture of equities (ranging from 40% to 60%) and fixed income securities. This fund seeks to provide medium to long-term capital appreciation, with a moderate level of volatility.
How it works?

Mr Tan is 40 years old, a non-smoker, and intends to prepare for his two-years-old son's university education. He prefers a disciplined approach and would like to invest more in the early years to get higher potential returns on maturity. To diversify his portfolio to achieve this goal, he is considering Cash Plus 2 that lets him save in a disciplined manner for 5 years while receiving Guaranteed Cash Payments over the entire 15 years of the policy term to reinvest.

Mr. Tan may choose to withdraw his GCP for investments of his choice.

Mr Tan is 40 years old, a non-smoker, and intends to retire at age 55. He prefers a disciplined approach and intends to invest more in the near term for his goals. To supplement his retirement goal, he is considering Cash Plus 2 that lets him save in a disciplined manner for a short premium payment term of 3 years while receiving Guaranteed Cash Payments over the entire 15 years of the policy term.

Mr. Tan may choose to withdraw his GCP for investments of his choice.

  • *Total Investment Value (TIV) refers to the returns which consist of the allocated premiums for Investment-Linked (IL) Component plus any potential investment returns. The projected returns for the IL Component are based on the low scenario (2% p.a.) and high scenario (5% p.a.) of projected gross investment return of Lion Balanced Fund. Please note that the investment returns are not guaranteed.
  • The diagram above is for illustrative purposes only. It assumes that the Life Assured decides to receive the GCP every year. Terms and Condition apply.

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Disclaimer:


Terms and conditions apply. You are advised to refer to any OCBC Bank sales staff for the Sales Illustration, Product Disclosure Sheet, brochure and sample policy contract for details of important features and benefits of the plan before purchasing it. This is a life insurance plan underwritten by Great Eastern Life Assurance (Malaysia) Berhad (198201013982 / 93745-A) and OCBC Bank (Malaysia) Berhad (199401009721 / 295400-W) is the distributor of this product.

Important Notices: