First Time Buy Great Treasure 8 (GT8) @ RM3,144 Yearly Great Eastern Saving Plan Experience

It has been quite some time that I was considering this Great Treasure 8 (GT8) saving plan from Great Eastern. Apparently I still remember my insurance agents asked me whether can I save RM8.88 a day and continue doing it for 365 days? I did ponder a moment because it would be sum up to RM3,241.20 if you save that “8.88” figure everyday. However, Great Eastern had come out with the Great Treasure 8 (GT8) saving plan where they guaranteed maturity benefits 138% of basic sum assured with just 8 years premium payment term with 20 years policy term and others benefits as follow.

Frankly speaking, previously I had asked a lot people regarding this plan to friends and the feedback I got is they said it is not worth and some even say it might be a SCAM or cheating people money. It is NOT related with OTS 126 (齐齐揾到食) or HLA (Hong Leong Assurance) that shared by others people experience. However, I felt that everything has it pros and cons where only yourself can decide whether it is good or not in the end.
 After deep consideration since yesterday, I finally made the decision to buy it since the last day submission is 31st March 2016. During the afternoon, I drove all the way from Asia Jaya to Kuchai Lama to the Great Eastern agency to buy this GT8 saving plan.

Upon arrival, I fill up the necessary form and submit my credit card details. The amount that I need to pay is RM3,144 yearly plan and I just paid with my credit card. Apparently the payment charges is different if you select different payment term for the premium as below.
 1) Monthly — 5% interest from yearly premium.
 2) Quartely — 3% interest from yearly premium.
 3) Half-Yearly — 2% interest from yearly premium.
 Personally I don’t want to pay additional interest and chosen the yearly options.
 I still remember the insurance agent shared a funny Chinese sentence with me which is “你要痛一次
 一年,或慢慢的流血几个月”, which means “you want to one time pain or keep bleeding every month” (sorry for poor English translation) when paying for it. Below is the detailed sharing about the benefits at a glance about the GT8 plan adapted from Great Eastern Life website.

Once again kindly take note that this brochure is for general information only. It is not a contract of insurance. You are advised to refer to the Sales Illustration, Product Disclosure Sheet and sample policy documents for detailed important features and benefits of the plan before purchasing the plan. The exclusions and limitations of benefits highlighted above are not exhaustive. For further information, reference shall be made to the terms and conditions specified in the policy issued by Great Eastern Life. If there is any discrepancy between the English, Bahasa Malaysia and Chinese versions of this brochure, the English version shall prevail. The terms “Great Eastern Life” and “the Company” shall refer to Great Eastern Life Assurance (Malaysia) Berhad.
 As an illustration of the RM3,144 that you pay, you will get the similar figure upon your GT8 saving plan reached maturity.

After finish pay the amount and submitted the case, I drove back to office to continue work.

Somehow I just felt that I will be able to buy my first house by the time I reach 33 year old if have this additional saving income that I had forced myself to save money.

So back to the first question, can you save at least RM8.88 (Huat Huat Huat in Chinese saying) a day? For more information, please contact your friendly Great Eastern Life Planning Advisor or Mr Lim at +6018–3808567 to find out more. Stay positive!

Originally published at on April 13, 2016.