Manulife Ready LifeIncome Review

The complete Pros and Cons on Manulife Ready LifeIncome

Manulife Ready LifeIncome gives you annual payouts and protection against Death and Terminal Illness with a lump-sum payout upon maturity.

This policy can be transferred to the next generation for them to sow the maximum benefit of this plan.

Manulife Ready LifeIncome product details

  • Yearly Payouts
    • Enjoy guaranteed and non-guaranteed yearly income up to age 120, starting after the end of policy year 5 or 10
  • Premium Options
    • Choose to pay premiums for 5 or 10 years
  • Coverage
    • Be covered against Death and Terminal Illness till age 120
  • Premium Waivers
    • Continue to receive coverage while future premiums are waived upon Total and Permanent Disability during the policy payment term
  • Easy Application
    • Enjoy guaranteed acceptance with no health questions asked
  • Secondary Life Insured Option
    • You may appoint a secondary life insured so the policy does not have to end upon the death of the primary life insured.
  • Premium Freeze Options
    • You can stop paying premiums for a year

Read about:  Why your retirement planning starts now

Read aboutEffects of compounding returns on your investments

Features of Manulife Ready LifeIncome 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: Yes
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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Manulife Ready LifeIncome may be suitable if you are looking for

Manulife Ready LifeIncome may potentially be a good fit if the following matters to you:

  • Regular cash payout upon your desired retirement age
  • Lump-sum payout upon maturity
  • Saving regularly over a period of time
  • Insurance options without medical underwriting
  • Do not need access to the funds until retirement
  • To potentially generate higher financial returns compared to bank accounts

Manulife Ready LifeIncome may not be suitable if you are looking for

Manulife Ready LifeIncome may potentially be a bad fit if the following matters to you:

  • Health and Protection coverage
  • High insurance coverage for Death or Terminal Illness
  • High insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
  • A one-time premium commitment with no further cash commitment
  • Potentially higher financial returns compared to a pure investment product.
  • Insurance policy with a high surrender value in the early years of the policy.

Read about: Why should you choose a shorter premium term on your insurance policies

Further considerations on Manulife Ready LifeIncome

  • How is Manulife or Manulife Ready LifeIncome investment returns based on historical performance?
  • How does Manulife Ready LifeIncome compare with retirement plans and annuity policies from other insurance companies?
  • Can Manulife Ready LifeIncome fulfill my financial, insurance, health and protection needs?

The above information may not fully highlight all the product details and features on Manulife Ready LifeIncome. Talk to us or seek advice from a financial adviser before making any decision about Manulife Ready LifeIncome.

Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.

Read about3 best Retirement plans and Annuity policies in Singapore (2020 Edition) *Updated*

Where can I compare the payout and benefits of retirement plans and annuity policies?

Your retirement plans are meant to supplement your lifestyle and expenses in your golden years. Ensure your retirement plans matches the financial goal and objective you wish to achieve when you decided to talk a step back in life.

It is too late to regret once you have made your financial commitment. Specific product features, benefits, and payout will differ more than you think across insurance companies.

And even worse, to know you can compare retirement plans and annuity policies here,  100% free of charges on the InterestGuru.sg platform.

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Is Manulife Ready LifeIncome suitable for me?

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

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Before you go...
Manulife Ready LifeIncome 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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