As Malaysians live longer, the challenge is no longer just saving for retirement but ensuring a sustainable income when regular earnings stop. Against this backdrop, Great Eastern Life Assurance (Malaysia) Berhad (GELM) introduces GREAT Retirement Pride, a retirement plan that enables policyholders to convert protection income and features Malaysia’s first-of-its-kind Sum Assured Unlock Option.
The new solution addresses key retirement considerations among Malaysians, particularly the need to balance long-term protection with sustainable income as life expectancy rises and financial needs evolve.
Designed to support retirement planning at different life stages, GREAT Retirement Pride combines protection with guaranteed income, offering customers the flexibility to tailor their plans to their financial goals and affordability. During their prime earning years, policyholders are protected against death and Total and Permanent Disability (TPD), with coverage of up to five times the basic sum assured.
As policyholders approach retirement, the plan provides guaranteed monthly retirement income to support lifestyle and living expenses in later years. To further enhance flexibility, the Sum Assured Unlock feature allows policyholders aged 60 and above to convert their basic sum assured into additional monthly retirement income or a lump sum without surrendering their policy.
This first‑of‑its‑kind option provides policyholders with the financial flexibility to access funds for expenses such as healthcare, emergencies or other financial needs during retirement, while ensuring continued protection coverage.
“Malaysians today are looking for greater flexibility in how they manage their finances over time, particularly as they transition into retirement. GREAT Retirement Pride enables policyholders to convert protection into income, giving them more control and confidence in meeting their financial needs in later days,” said Dato Koh Yaw Hui, Chief Executive Officer of GELM.
