Manulife Heirloom VI Review

The complete Pros and Cons on Manulife Heirloom VI

Manulife Heirloom VI is a universal life insurance plan, denominated in US dollars that offers the benefits of high insurance cover along with cash value accumulation.

Manulife Heirloom VI product details

  • Life policy – Universal Life Insurance
  • Guaranteed 2% Minimum Crediting Interest
  • Coverage
    • This policy covers you against Death
  • Loyalty Bonus
    • Receive a guaranteed loyalty bonus of up to 0.25% per annum from policy year 11 onwards
  • Quit Smoking Incentive
    • Enjoy non-smoker premiums up the 3rd policy year. Continue to enjoy non-smoker premiums as long as you completely stop smoking within the first 2 years and provide medical proof of stoppage for 12 months
  • Transparency
    • 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
  • Flexibility
    • Policy Transfers;
      • Unlimited transfers if the policy owner is a corporation
      • Twice if the policy owner is an individual
    • Premium Payments;
      • Choose when to make a payment and how much to pay within pre-set limits
    • Free Partial Withdrawals;
      • Allowed without incurring surrender charges or
        reducing the face amount

Manulife Heirloom VI can help you with:

  • Legacy Planning; distribute your wealth according to your wishes
    • The sum assured upon death can be left to your descendants as inheritance, letting you enjoy more of what you’ve made while fulfilling the initial sum of inheritance you intended to leave
  • Estate Liquidity; helps you divide your estate equally
    • Using the death benefit from your Heirloom policy, the cash from your death benefit can use to spread your inheritance fairly in the event you have several assets that would not have previously been fairly-divided.
  • Portfolio Diversification; spread out your investments
    • Manulife Heirloom helps you spread out your investment and achieve the right balance in your assets portfolio
  • Business Continuity; protect your most valuable employee
    • Cover your key employee against death, upon the death of a key employee, you will receive the death benefit to cover for any shortfall that your business might encounter due to the loss of said key employee
      • Otherwise, this policy can also be transferred to another employee if and when the employee insured leaves the company

Read About3 things to consider before taking up a new financial product

Features of Manulife Heirloom VI at a glance

Cash and Cash Withdrawal Benefits

Cash value: Yes
Cash withdrawal benefits: No

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

NA

Additional Features and Benefits

Yes.

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 VI suitable for me?

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

All financial reviews and proposals provided are 100% free of charge. There will be no obligation to take up any proposed financial products or services in any way.

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Before you go...
Manulife Heirloom VI 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.
Drop us a message and find out about customised options across multiple insurance companies. You deserve to get the best out of your hard-earned savings!
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