So how attractive is the investment return for a 35-year old policyholder who purchases Great Retirement Plan?
Based on the information provided in the newspaper article, we apply the following actuarial formula to work out the return to the policyholder:

By solving the above actuarial formula, we obtain an annual return of 3.56%.
Comparisons
As a comparison, EPF has a minimum guaranteed return of 2.5% and has declared between 4.25% to 6% in the past 10 years.
Maybank is currently offering 3.8% on fixed deposit of 60 months.
News Background
Great Eastern became the first life insurance company to roll out a deferred annuity product to take advantage of the RM3,000 tax relief, in response to the various Private Retirement Schemes (PRS) launched by unit trust companies.
The Great Retirement Plan provides guaranteed yearly income of 10 or 15 years from age 60 and 55 respectively. An example was given in the newspaper article for a policyholder aged 35:
Premiums paid: RM3,000 from age 35 for 10 years
Deferred annuity received: RM65,475 in 15 equal installments from age 55.