Amid rising financial uncertainty and escalating living costs, Manulife Singapore has introduced Manulife InvestReady Growth, a whole life regular premium investment-linked plan designed to help Singaporeans secure their long-term financial wellbeing. This innovative plan responds to the growing concerns highlighted in the Manulife Asia Care Survey 2024, which reveals a significant confidence gap among Singaporeans regarding their financial futures.
The survey’s Manulife MyFuture Readiness Index shows a worrying 15-point gap between the financial wellbeing Singaporeans desire and what they realistically expect to achieve. The survey also notes that rising living and healthcare costs are major concerns, with respondents perceiving healthcare costs to have increased by 20% over the last year alone.
In response, Manulife InvestReady Growth offers a solution tailored to the evolving financial needs of Singaporeans, providing a powerful combination of wealth accumulation and coverage protection with enhanced flexibility across different life stages.
Key Features of Manulife InvestReady Growth
- Focused Plan Options: The plan offers two distinct options – 15 Years Flexi 10 and 20 Years Flexi 10 – designed to provide optimal financial control and investment growth.
- Comprehensive Protection: The plan ensures coverage against death and terminal illness, offering the higher of 101% of total premiums paid or the account value.
- Competitive Bonuses:
- Welcome Bonus: One of the highest in the market, providing up to 60% of the annual premium to kickstart customers’ wealth-building journey.
- Booster Bonus: A unique, first-in-market feature offering up to 35% of the annual premium as a one-time bonus if the account value underperforms, providing a safety net against market volatility.
- Annual Premium Bonus: Rewards customers who pay their premium annually with additional bonus units and a yearly Loyalty Bonus after the Minimum Investment Period (MIP).
- Premium Bonus: Additional bonuses are offered for continued premium payments, encouraging consistent saving habits.
- Flexible Financial Management:
- Premium Payment Options: The plan allows for flexible adjustments to regular basic premiums and ad hoc top-ups, giving customers the ability to tailor their payment schedules to their financial situations.
- Withdrawal Flexibility: Customers can make partial withdrawals or access accumulated reinvested dividends at any time.
- Refund of Premium Shortfall Charges: Manulife is the only insurer in the market to offer a full refund of cumulative premium shortfall charges if missed premiums are fully paid before the Flexi Start Date.
Manulife InvestReady Growth is designed to bridge the confidence gap in financial security for Singaporeans, offering a robust and flexible tool for wealth accumulation and protection in an increasingly uncertain economic environment.
