Manulife RetireReady Plus II Review

The complete Pros and Cons on Manulife RetireReady Plus II

Manulife RetireReady Plus II is a retirement income plan that gives you the certainty of a Guaranteed Monthly Income, flexibility, and 2X Guaranteed Monthly Income should you face Loss of Independence.

Manulife RetireReady Plus II product details

Manulife RetireReady Plus II is featured for Projected Payout benefits in our 3 Best High Income Retirement Plans in Singapore (2020 Edition)

Manulife RetireReady Plus II is featured for Additional disability income benefits in our 3 Best SRS Retirement Plans in Singapore (2020 Edition)

Manulife RetireReady Plus II Rating on InterestGuru.sg: 4.3 out of 5 stars (4.3 / 5)
Manulife RetireReady Plus II Popularity on InterestGuru.sg: 4.2 out of 5 stars (4.2 / 5)

  • Life policy – Annuity
  • Choose your desired Guaranteed Monthly Income (GMI);
    • Starts at a minimum of $300
  • Choose your preferred Premium Payment Term;
    • Single Premium, 5, 10, 15, or 20 years
  • Choose your selected Retirement Age;
    • Age 50, 55, 60, 65, or 70
  • Choose your selected Income Payout Period;
    • 5, 10, 15, 20 years, or Lifetime
      • Single premium and/or 5-year Premium Payment Term cannot choose Income Payout Period of 5 years
  • Non-Guaranteed Bonuses; receive Cash Bonus and
    • A) Annual Bonus in lump-sum or
    • B) Convert Annual Bonus to Additional Monthly Income
  • Retrenchment Payout Benefit
    • Receive a lump-sum payout in the event of the life insured’s retrenchment (40% of annual premium)
  • Premium Freeze
    • In times of emergency, premium payment can be put on hold while your policy stays in force (i.e. retrenchment)
  • Receive an additional 50% of the GMI, capped at a maximum of S$2,000 per month per policy (Failing 2 of 6 ADLs).
  • Receive an additional 100% of the GMI, capped at a maximum of S$4,000 per month per policy (Failing 3 of 6 ADLs).
  • Freedom to adjust your income payout period according to your changing needs, anytime, up to 2 years before your retirement age.
  • Your premiums will be waived if Total and Permanent Disability occurs during your Premium Payment Period

Manulife RetireReady Plus II is an SRS-approved retirement annuity plan.

Features of Manulife RetireReady Plus II at a glance

Cash and Cash Withdrawal Benefits

  • Cash value: Yes
  • Cash withdrawal benefits: No

Health and Insurance Coverage

  • Death: No
  • 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

  • N.A

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.

Read aboutHow can I accumulate a million dollar (Realistically) 

Read about: The Complete Guide to Retirement Planning (2020 Edition) *NEW*

Manulife RetireReady Plus II may be suitable if you are looking for

Manulife RetireReady Plus II 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 RetireReady Plus II may not be suitable if you are looking for

Manulife RetireReady Plus II 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 RetireReady Plus II

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

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

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.

INSTANT quotes for Retirement Plans
33%

Retirement Income Plans

Matching your profile…

Let’s start by filtering out the best retirement plans based on your age and gender.

Your current age is closest to:

Your gender is:

Male Female
66%

Retirement Income Plans

Understanding your retirement needs…

Your expected monthly retirement income and retirement age will determine the insurance premium payable.

You plan to save for a period of:

Your desired monthly income upon retirement:

100%

Retirement Income Plans

Finding you the best retirement income plan...

Choose the starting payout age of your retirement income plan (currently only available for age 65).

Your retirement income payout age:

INSTANT quotes for Retirement Plans
More on Financial Planning
1 of 10

Is Manulife RetireReady Plus II 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.

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.

*For a limited time, get attractive incentives when you take up any products that is proposed by our team of financial planners.

We compare quotations head to head on all leading insurers in Singapore

Singapore insurance companies

Personalised retirement income plans

Get your perfect retirement plan!

3 easy steps for your customised retirement income plan based on your financial needs.
33%

Step 1: Getting to know you…

Let's start with your personal profile. Please note that your current age and gender will affect the insurance premium payable for your retirement plan.

Name:

Gender:

Birthdate:

66%

Step 2: Understanding your retirement needs…

Please select your desired retirement income and the payout age for your retirement plan from the selections below:

What is your ideal monthly retirement income?

What is your ideal retirement age?

100%

Step 3: Finding the best retirement plans for you!

Interestguru.sg team of financial planners will compare and provide you with the best retirement plans based on your inputs.

Contact:

Email:

Please check your inbox for an e-mail of your savings needs.

We will be in contact with you within 24 hours.

Personalised retirement income plans
More retirement plans
1 of 20
Before you go...
Manulife RetireReady Plus II 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!

 

Additional readings

Need help?
close slider

Need help?