Manulife Savings, Investment, and Retirement Plans

Manulife offers a range of 12 different savings, investment, and retirement plans. In this article, we will be collating and summarising each product in each category.

 

Manulife Savings Plans 

In its savings plans, there are 7 plans – Manulife Spring, Manulife ReadyBuilder, Manulife ReadyPayout Plus, ManuWealth Secure, Manulife Goal 7, Manulife Ready Life Income, and the Manulife Educate.

 

 

Manulife Spring

Manulife Spring is a 12-year endowment savings plan. It guarantees you a 100% capital return on plan maturity.

If you need flexibility with finances, this plan is for you. Manulife makes spending and saving doable by giving you a steady growth of your savings over the 12 years. The potential returns of the Manulife Spring are up to 3.32% of your total insured money.

This savings plan offers you the ability to receive yearly payouts so that you can maintain liquidity.

You could also use the amount to make payments for your upcoming regular premiums, or perhaps redeposit the amount to receive interest gains at a non-guaranteed interest rate.

The plan offers you coverage in the event of death, total and permanent disability, and terminal illness with no need for medical underwriting.

Features:

• 100% guaranteed capital returns
• Up to 3.32% of potential returns
• Provides you with liquidity through the option of yearly payouts
• Insurance coverage for death, total and permanent disability, and terminal illness

 

Source: https://www.manulife.com.sg/en/solutions/save/savings-plans/manulife-spring.html

 

 

Manulife ReadyBuilder

The Manulife ReadyBuilder is a savings plan with more impressive features. It comes with 4 different premium payment periods – 5, 10, 15, or 20 years.

It provides significant flexibility by allowing you to stop regular payments for a year. You also have the option to cash out the money collected in your account whenever needed.

Even better, you could choose a loved one as the secondary owner of your account in the case of an unfortunate event without the need to cancel the plan. Let your loved ones enjoy all the benefits of a mature policy.

The Manulife ReadyBuilder provides guaranteed acceptance with coverage for death and terminal illness. In the scenario of total and permanent disability, your payments are waived while still providing you coverage.

You also get the option to increase the coverage through optional riders available.

Features:

• Choose from 4 options of premium payment periods
• Flexibility to stop premium payments for a year
• Flexibility to withdraw cash value when needed
• Add on a loved one as a secondary life assured
• Insurance coverage for death and terminal illness

 

Source: https://www.manulife.com.sg/en/solutions/save/savings-plans/ready-builder.html

 

 

Manulife ReadyPayout Plus

The Manulife ReadyPayout Plus is another excellent endowment savings plan that offers guaranteed acceptance without medical underwriting. It provides 3 period payment terms – 10, 15, or 20 years, and a policy term of 13, 15, or 20 years.

It guarantees a cash benefit that increases gradually from 2% to 10% of your sum insured throughout your plan.

You could use the amount gained from the interest to make your upcoming regular plan payments, or you could redeposit the amount to receive interest gains at a non-guaranteed interest rate.

The Manulife ReadyPayout plus offers coverage for death and terminal illness, with optional riders to increase its coverage.

In the scenario of permanent and total disability, your premiums are waived while the policy is continued.

Features:

• Choose from 3 period payment terms
• Choose from 3 policy terms
• Guaranteed cash benefit that increases from 2% – 10% of sum insured
• Flexibility to withdraw cash value when needed
• Insurance coverage for death and terminal illness

 

Source: https://www.manulife.com.sg/en/solutions/save/savings-plans/ready-payout-plus.html

 

 

ManuWealth Secure

The ManuWealth Secure is a savings plan that offers a premium payment period of 2 or 5 years, with a policy term of 13, 15, 20, or 25 years.

You are guaranteed a 100% capital return on the end of the plan and a steady yearly payout at 5% of your sum insured. You also have the chance to earn bonuses if you stick to the plan till its maturity.

There is no medical underwriting needed and you get coverage for death, total and permanent disability, and terminal illness.

Features:

• Choose from a premium payment period of 2 or 5 years
• Choose a policy term of 13, 14, 20, or 25 years
• 100% guaranteed capital return
• Option of 5% yearly payout of the sum insured
• Coverage for death, total and permanent disability, and terminal illness
• Possible bonuses upon maturity

 

Source: https://www.manulife.com.sg/en/solutions/save/savings-plans/manuwealth-secure.html

 

 

Manulife Goal 7

Need something quick to hasten those gains? The Manulife Goal 7 is the perfect savings plan for you. It is a short 3-year single premium endowment plan with attractive possible cash returns.

You could start with a cash amount of S$10,000 or through your Supplementary Retirement Scheme (SRS) monies.

The Manulife Goal 7 provides a 100% capital guaranteed return. You also get 1.39% of your single premium as yearly income at the end of year 1 to 2. The income adds up to an impressive total of 2.78% over the two years.

You could choose to withdraw the amount or collect them at a non-guaranteed interest to accumulate more wealth.

You also have the chance to gain a 1.39% bonus of your single premium if you wait for the plan to mature, and of course, death coverage of 101% with no need for any medical underwriting.

Features:

• Quickly obtain a potential return of 4.23% over 3 years
• Single premium payment
• $10,000 minimum cash or SRS investment
• Option to withdraw yearly income or reinvest to grow your investment
• Death coverage at 101% of your single premium
• Possible 1.39% bonus of your single premium upon maturity

 

Source: https://www.manulife.com.sg/en/solutions/save/savings-plans/manulife-goal.html

 

 

Manulife Ready Life Income

The Manulife Ready Life Income is a long-term savings plan as it can last for up to 120 years. This plan is excellent if you’re looking to pass on your account to your loved ones in the future.

This is because they allow you to have a secondary life insured that can be changed for up to 3 times! As a parent, you can use this to save for your child, who in turn can transfer the ownership to their kids.

In the 120 years, you get to enjoy a guaranteed (0.95% of sum insured) and non-guaranteed (2.05% of sum insured) yearly income. This will be made available to you by the end of year 5 or 10 of the savings plan.

You get to choose between a 5 or 10 year premium payment period with the option to freeze premium payments for a year.

The Manulife Ready Life Income also provides you death and terminal illness coverage, while allowing you to stop premium payments in the scenario of total and permanent disability.

There is also no need for a medical underwriting as there is a guaranteed acceptance for applicants.

Features:

• Choose from a premium payment period of 5 or 10 years
• 120-year savings plan for your children and grandchildren
• Change the secondary life insured for up to 3 times
• Enjoy yearly income upon the end of the premium payment period
• Coverage for death and terminal illness
• 1 year premium freeze option

 

Source: https://www.manulife.com.sg/en/solutions/life/whole-life-insurance/ready-lifeincome.html

 

 

Manulife Educate

You cannot compromise on your children’s education. The Manulife Educate is an education savings plan that ensures you have enough to put your children through further education.

With a 10 year premium payment period, you have the option of receiving 2 sets of yearly guaranteed cash benefits. Firstly, you will have to select the payout age – 18 or 20, for your child to receive this cash benefit.

Before your child reaches the chosen payout age, he/she will receive 2 yearly payments of 5% of the sum insured each.

After the payout age, your child will receive 4 yearly payouts – 40% in the first year, 20% on the others. You could also decide not to receive these payouts and continue collecting the gained interest for other needs.

The Manulife Educate offers death and terminal illness coverage, with the option to get riders that provide premium waivers.

If you let this plan mature without alterations and have no optional riders, The Manulife Educate guarantees a 100% return of your insured sum.

No medical underwriting is required for this plan, and there is a potential bonus upon maturity.

Features:

• 10 year premium payment period to save for your child’s education
• Option to select a payout age, 18 or 20 years old to receive 6 yearly cash benefits (or accumulate them)
• Coverage for death and terminal illness
• Optional riders for premium waivers based on circumstances
• Potential bonus upon maturity

 

Source: https://www.manulife.com.sg/en/solutions/save/education/manulife-educate.html

 

Manulife Investment Plans 

Investment can be a risky endeavour. Manulife offers 4 types of investment plans – ManuInvest Duo, Manulink Investor, Manulink Enrich, and Manulife InvestReady Wealth (II).

 

 

ManuInvest Duo

ManuInvest Duo is an investment-linked plan that offers up to 407% illustrated returns on premiums paid.

There are 3 minimum investment periods (MIP) offered – 10, 15, or 20 years. For each minimum investment period, the minimum premiums are

• SGD 3,600 per annum
• SGD 2,400 per annum
• SGD 1,800 per annum respectively

 

You get a spectacular Welcome Bonus when you opt for higher insurance coverage and a longer MIP. The plan also makes sure your investments are profitable by providing you with the choice of various reliable funds.

The Manuinvest Duo gives you a yearly Loyalty Bonus after the 7th policy year. The bonus increases to up to 0.8% after you successfully reach the end of the MIP.

If you invest in dividend-paying funds, you’ll get a regular stream of income depending on the rate and frequency of the chosen fund.

In terms of protection, you get to choose your coverage amount of up to 100x of your first year premium for death, terminal illness, and permanent and total disability.

You get to make withdrawals at low transaction rates (SGD 50) from year 6 onwards of up to 20% of your total basic premiums and top-up premiums from the previous policy year.

Other features include a premium holiday of 24, 36, or 48 months, and optional riders for critical illness and early critical illness coverage.

Charges wise, there are 4 types of charges – Surrender Charge, Monthly Insurance Charge, Monthly Admin Charge, and Top Up Charges. All these charges depend on the MIP you chose and how the plan is customised for you.

Features:

• Choose between a minimum investment period of 10, 15, or 20 years
• Minimum investment of S$3 600, S$2 400, or S$1 800 per annum respectively
• Welcome and loyalty bonuses available
• Ability to receive dividend income
• Partial withdrawals available
• Insurance coverage for death, terminal illness, and total and permanent disability
• Optional riders for critical illness and early critical illness
• Option for a premium holiday for up to 48 months

 

Source: https://www.manulife.com.sg/en/solutions/invest/investment-linked-plans/manuinvestduo.html

 

 

Manulink Investor

The Manulink Investor is an impressive single premium investment-linked plan offered by Manulife.

100% of your insured sum is used to buy multiple professionally managed fund(s) at offer price – meaning that you don’t pay for insurance coverage and policy fees.

With the minimum single investment of SGD 5,000, the Manulink Investor gives you access to a wide range of funds where you get the unlimited option to switch funds for free. Ad-hoc top-ups are available at minimally SGD 500 each.

You also have various payment options where you could either pay in cash, SRS, or your CPF Ordinary Account (CPF-OA).

If you decide to use your SRS, you may opt for single recurring premiums where you can make annual, biannual, or monthly investments. The minimum investments are S$2 000, S$1 000, and S$500 respectively.

The plan also provides coverage for death, terminal illness, and total and permanent disability with no medical underwriting needed.

Features:

• Single premium investment of SGD 5,000 minimum
• Ability to pay using cash, SRS, or CPF-OA
• If you opt for the SRS policy, there are 3 options of your single recurring premiums
• Top-ups available at a minimum of SGD 500 each
• 100% of your investments are used to invest in funds
• Coverage for death, terminal illness, and total and permanent disability

 

Source: https://www.manulife.com.sg/en/solutions/invest/investment-linked-plans/manulink-investor.html

 

 

Manulink Enrich

The Manulink Enrich is another investment-linked plan by Manulife offering a minimum investment of only SGD 100 monthly. The plan also provides the option for you to top up your investments or make withdrawals when needed.

100% of your insured sum will be used to invest in funds at the offer price, where you could switch funds for free. The Manulink Enrich also offers free fund units of up to 102% from the 4th year, and 105% from the 7th year.

In terms of insurance coverage, there are 3 plan options for you to choose from. In the most basic plan, you are covered against death, terminal illness, and total and permanent disability.

You also can upgrade to the other options in the future based on different life milestones. Of course, there are optional riders involved if you choose to opt for more coverage. Specific terms and conditions will apply.

Features:

• Minimum investment of SGD 100 monthly
• No minimum investment period, premiums are payable as long as the policy is in force
• Top up investments or withdrawals available
• 100% of your investments will be used to invest in funds
• Receive free fund units from your 4th year onwards
• Coverage for death, terminal illness, and total and permanent disability
• 3 insurance coverage plans to choose from

 

Source: https://www.manulife.com.sg/en/solutions/invest/investment-linked-plans/manulink-enrich.html

 

 

Manulife InvestReady Wealth (II)

If you’re looking for a diverse range of funds to invest in, InvestReady Wealth is an investment-linked plan offering over 100 funds for you to choose from.

It comes with 6 minimum investment periods for you to choose from, and the minimum investment for each are as follows:

 

Minimum Investment Period (MIP)	Minimum Investment
3 years (Renewable)	SGD 1,000 monthly
5 years (Renewable)	SGD 1,000 monthly
10 years	SGD 300 monthly or USD 3,600 yearly
3 years – Flexi (Renewable)	SGD 20,000 or USD 20,000 yearly
10 years – Flexi	SGD 500 or USD 6,000 yearly
20 years – Flexi	SGD 200 monthly

 

The Flexi options available gives you the ability to vary your regular basic investments after a specific policy year.

The InvestReady Wealth (II) also offers you to make a minimum top-up of SGD 2,500 and make minimum withdrawals depending on your MIP.

Notable features include a Welcome Bonus in the first year of the plan in the form of additional fund units. You also get a Loyalty Bonus if you complete your Minimum Investment Period (MIP).

100% of your insured sum will be used to purchase multiple, professionally managed fund units. You can also switch funds for free.

If you invest in dividend-paying funds, you will receive a steady income depending on the rate and frequency of the funds chosen.

In terms of medical coverage, you are covered against death and terminal illness, with the option to add on riders for critical illness waiver coverage, cancer waiver coverage, or payor benefit.

There are 4 types of charges – Surrender Charge, Monthly Admin Charge, Monthly Supplementary Charge, and Fund Management Charges. All these charges depend on the MIP you chose and how the plan is customised for you.

Features:

• Minimum investment of SGD 200 monthly
• Access to over 100 funds
• Option to vary investment amounts
• 100% of your investments will be used to invest in funds
• Ability to make top-ups and withdrawals
• Covered against death and terminal illness
• Optional riders available

 

Source: https://www.manulife.com.sg/en/solutions/invest/investment-linked-plans/invest-ready-wealth.html

 

Manulife Retirement Plans

Despite having many savings and investment plans, Manulife only has 1 retirement plan – RetireReady Plus II.

 

 

Manulife RetireReady Plus II

A peaceful and secure retirement is probably everybody’s dream. The Manulife RetireReady Plus II is an efficient and flexible retirement plan that will put your retirement worries to rest.

The premium payment term comes with 5 options – Single Premium, 5 years, 10 years, 15 years, or 20 years.

This plan guarantees you a monthly income for 5, 10, 15, 20, or a lifetime once you hit your selected retirement age (50, 55, 60, 65, or 70 years old).

Furthermore, you get to change the payout period anytime before 2 years from your selected retirement age.

For the non-guaranteed portion of your plan, you have the option to receive it as a lump sum or convert it to additional monthly income for yourself.

In times of need, you could temporarily stop regular plan payment. The Manulife RetireReady Plus II also provides a retrenchment benefit where you receive a lump sum payout when the life insured is retrenched.

In terms of coverage, the Manulife RetireReady Plus II provides you 100% of your guaranteed monthly income as coverage if there’s a loss of independence.

Features:

• Choose from 5 premium payment terms – Single, 5, 10, 15, or 20 years
• Choose from 5 monthly retirement income options – 5, 10, 15, 20, or a lifetime
• Choose from 5 retirement age – 50, 55, 60, 65, or 70 years old
• Flexibility to change payout period
• Option to receive your non-guaranteed portion as a lump sum
• Premium freeze if needed
• Retrenchment benefit
• Coverage against loss of independence

 

Source: https://www.manulife.com.sg/en/solutions/save/retirement/retire-ready-plus.html

 

Conclusion

Yes, Manulife offers a wide range of savings, investments, and retirement plans for you to choose from. The mentioned products are summaries of each plan, and there are terms and conditions applied for each of their features.

Although some of the plans look highly attractive, not every plan is suited for you, and not every plan is as attractive as it seems. Thus, it is always advisable for you to conduct your thorough research before deciding to purchase any financial plans for yourself.

If you’re still unsure of what you should be getting for yourself, always engage a trusted financial advisor. This makes sure that your different needs and wants are taken into consideration and plans are recommended based on your unique scenario.

source https://singaporefinancialplanners.com/blog/manulife-savings-investment-retirement-plan/