NOTE: Manulife ReadyIncome Life has been discontinued. For further information and details about this plan, fill up the form below and let us advise you accordingly.
Manulife ReadyIncome Life product details
- Life policy – Endowment and Saving policy
- Manulife ReadyIncome offers you regular yearly income (both guaranteed and non-guaranteed) for life, and a legacy that lasts for generations.
- You can also reward yourself and fulfill your dream of living a lifestyle you deserve with attractive yearly income payouts
- Guaranteed yearly income for life as early as from the end of the 2nd policy year. The guaranteed yearly income is 1% of your chosen sum insured according to your needs and budget from the end of the 2nd policy year to the end of the 9th policy year. It then increases to 8% of the sum insured from the end of the 10thpolicy year.
- Potential extra non-guaranteed yearly income payout
- Flexibility to transfer the policy ownership and income payouts to your child when child reaches age 18
- Premium payment is waived upon Total and Permanent Disability of the life insured while income payouts continue
- When the life insured reaches age 99, the plan pays a maturity benefit in a lump sum which includes 105% of the total premiums paid, the non-guaranteed maturity bonus, the last yearly income and any yearly income which has built up with interest (if any), after taking off any policy debt
- If the life insured dies or suffers a terminal illness, the beneficiary of the plan will receive 105% of the total premiums paid and any yearly income which has built up with interest (if any), after taking off any policy debt
- You can choose to pay for 5, 10, 15 or 20 years
- Guaranteed acceptance with no medical check-up needed
Manulife Ready Income is a common search alternative for Manulife ReadyIncome.
Read About: Endowment and Saving policy: How does it work?
Read About: Endowment and Saving policy: Is it the best option?
Features of Manulife ReadyIncome at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: Yes
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
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
Critical Care Payor Benefit Rider
Critical Care Payor Benefit (Spouse) Rider
Critical Care Waiver Rider
Additional Features and Benefits
Yes.
Read About: Effects of compounding returns
Read About: 3 things to consider before taking up a new financial product
Manulife ReadyIncome may be suitable if you are looking for
Manulife ReadyIncome may potentially be a good fit if the following matters to you:
- Liquidity or flexibility of withdrawal in your Insurance policy.
- A hassle-free application without medical underwriting
- Short to medium term endowment and savings plan
- To saving regularly over a period of time
- To potentially generate higher financial returns compared to bank accounts
Manulife ReadyIncome may not be suitable if you are looking for
Manulife ReadyIncome may potentially be a bad fit if the following matters to you:
- Health and Protection coverage
- High insurance coverage for Death or Terminal Illness
- Insurance coverage for Early Critical Illness, Critical Illness or Total Permanent Disability
- Lifetime regular cash payout
- 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.
Further considerations on Manulife ReadyIncome
- How is Manulife or Manulife ReadyIncome investment returns based on historical performance?
- How does Manulife ReadyIncome compare with Endowment policy from other insurance companies?
- Can Manulife ReadyIncome fulfil my financial, insurance, health and protection needs?
The above information may not fully highlight all the product details and features on Manulife ReadyIncome. Talk to us or seek advice from a financial adviser before making any decision about Manulife ReadyIncome.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
Is Manulife ReadyIncome 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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