2024 policy
6. What is the due date for payment of the single premium of my GREAT SP policy?
If you are paying for your GREAT SP policy with cash or via your Supplementary Retirement Scheme (SRS), you have 7 calendar days to fully pay for your policy and for your policy to turn in-force (which shall be subject to our acceptance of your application at our sole discretion), excluding the date of submission of your application. For example, if you submitted your application on 1st June 2024, you have up to 8th June 2024 (inclusive) to fully pay for your policy and for your policy to turn in-force.
We reserve the right to invalidate any application where the policy has not turned in-force within 7 days from the date of submission of the application.
If you are paying for your GREAT SP policy with maturity rollover (MRO) proceeds, you will only be able to select the payment option of using the MRO proceeds if your application is submitted to us within 14 to 30 calendar days before the maturity date of your maturing policy.