Great Eastern Great Protector

[havetheveryfun]

I just came across this GE plan:

https://www.greateasternlife.com/co...-right-plan/great-protector/prod-schedule.pdf

It seems to be an accident plan but it also covers accidental death and TPD. The premiums also seem cheaper compared to term death/TPD plans for the same coverage.

so why dont people just get this instead? Am I missing something here ?

 

[anfielder]

PA plans are cheaper for the simple reason that they only cover death/tpd under certain circumstances i.e. accidents. Usually people use this kind of policy to supplement a regular term plan.

 

[havetheveryfun]

PA plans are cheaper for the simple reason that they only cover death/tpd under certain circumstances i.e. accidents. Usually people use this kind of policy to supplement a regular term plan.

hmm yea but usually term death plan only covers natural death also, isn't that the main difference ?

so like for those who are only planning to buy term till 65 and do not take need the amount from natural death, wouldn't this be a cheaper option

 

[xtwis7]

hmm yea but usually term death plan only covers natural death also, isn't that the main difference ?

so like for those who are only planning to buy term till 65 and do not take need the amount from natural death, wouldn't this be a cheaper option

Regular term plans cover both natural and accidental death while PA plans strictly cover only accidental death. That's why there's a difference in premiums.

Unless the person feels he/she is more likely to pass away from an accident, term plan still offers a slightly wider scope of coverage.

 

[bigmice]

This plan only for GE exsting customer or Family member