Manulife Heirloom III Review

The complete Pros and Cons on Manulife Heirloom III

NOTE: Manulife Heirloom III is no longer available and has been replaced by Manulife Heirloom VI.

Manulife Heirloom III product details

  • Life policy – Universal Life Insurance
  • A universal life plan that provides a financial solution to meet your needs when planning your estate
  • Maintain your wealth and assets, and make sure that they continue to grow for future generations
  • Spreading out your portfolio (your investments) to achieve a balance between managing risk and producing the best returns is important so you can better manage the value of your portfolio even in uncertain market conditions
  • Protect the future of your business by insuring the lives of your most valuable employees
    • Your policy will earn a guaranteed minimum interest rate of 2% each year, added to your policy account with the potential for higher interest
    • Transparency in the cost of insurance charge – these charges are fixed for the first year of the policy. Although the rates may change after this, it will cap them at 110% of the current set of rates, as listed in the policy contract
    • Quit-smoking incentive allows you to benefit from standard non-smoker policy charges for the first three years. At the end of the third year, if you give a satisfactory medical evidence that you’ve quit smoking for at least 12 months in a row, we will reclassify your policy and use the standard non-smoker rates from then on
    • After your second policy anniversary, you have the flexibility to change the life insured if you want. You can do this twice during the policy term, depending on certain terms and conditions
  • You can make partial withdrawals without having to pay surrender charges (charges for cashing the policy in) or reduce your policy’s face amount after the 10th policy anniversary. The total withdrawal amount in each policy year must be within 5% of the policy value at its previous anniversary (after taking into account monthly deductions)
  • When the life insured dies, Manulife will pay a death benefit to the beneficiary or beneficiaries. This amount will be the face amount of the policy or the policy value at the date of death, whichever is higher, and take off any outstanding policy debt

Features of Manulife Heirloom III at a glance

Cash and Cash Withdrawal Benefits

Cash value: Yes
Cash withdrawal benefits: Yes

Health and Insurance Coverage

Death: Yes
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Health and Insurance Coverage Multiplier

Death: No
Total Permanent Disability: No
Terminal Illness: No
Critical Illness: No
Early Critical Illness: No

Optional Add-on Riders


Additional Features and Benefits


For further information and details, refer to Manulife website. Alternatively, fill up the form below and let us advise accordingly.

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Is Manulife Heirloom III suitable for me?

Contact InterestGuru using the form below. Our panel of licensed financial advisers will advise accordingly, based on your financial profile and protection needs.

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    Before you go...
    Manulife Heirloom III may be a good fit towards your current financial goals. However, there could be way more plans out there with features and/ or benefits that could be more relevant to you at a lower cost.
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