Manulife LifeReady Plus II Review
The complete Pros and Cons on Manulife LifeReady Plus II
Manulife LifeReady Plus II is a whole life insurance plan that comes with Health Advantage, a first in Singapore feature. Enjoy upfront premium discounts for being healthy.
Manulife LifeReady Plus II product details
Manulife LifeReady Plus II Rating on InterestGuru.sg: [usr=4.25]
Manulife LifeReady Plus II Popularity on InterestGuru.sg: [usr=3.85]
Manulife LifeReady Plus II is featured in our 4 Best Whole Life Insurance Plans in Singapore for overall coverage & weath accumulation.
- Life policy – Whole Life Policy
- Flexible Premium Payment Term
- Choose to pay premiums for 10, 15, 20, 25 years or up till age 99
- Insurance Coverage *NEW
- Be covered against Death, Terminal Illness and Total and Permanent Disability (up till age 99)
- Coverage Multiplier Benefit *NEW
- You can choose to boost your coverage up to 5x the Sum Assured till age 70 or 80
- Health Advantage Feature
- Get a discount on premiums for the first 2 years if your health status meets Manulife’s criteria upon application. You can continue your premium discount after 2 years if you meet their health targets within the first 2 years
- Retrenchment Benefit
- Premiums are waived for 6 months in the event you or your spouse gets retrenched for 30 days or more
- Payout Flexibility; you can choose to
- Continue with the same policy and coverage or
- Convert this policy into a 10-year annuity plan (enjoy additional 5% interest) at age 70
- Wide Range of Riders
- Riders available to cover you against Critical Illnesses of all stages to provide a more comprehensive coverage
- Riders available to waive future premiums to guard your policies should the unexpected happen
- Guaranteed Coverage Upgrade
- No medical check-up will be needed if you want to increase your coverage at these 4 life milestones (university graduation, marriage, first home, becoming a parent)
Manulife Life Ready is a commonly search alternative for Manulife LifeReady Plus.
Read About: Whole Life Policy: How does it work?
In-depth Review: 4 Best Whole Life Plans in Singapore for Insurance Coverage (2023 Edition)
Features of Manulife LifeReady Plus II at a glance
Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: No
Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: No (Yes with available riders)
Early Critical Illness: No (Yes with available riders)
Health and Insurance Coverage Multiplier
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: Yes
Early Critical Illness: Yes
Optional Add-on Riders
Early Critical Care Rider
Critical Care Rider
Premium Waiver Riders
Critical Care Waiver Rider
Payor Benefit Rider (I)
Payor Benefit Plus Rider (I)
Payor Benefit Plus (I) Spouse Rider
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 LifeReady Plus II may be suitable if you are looking for
Manulife LifeReady Plus II may potentially be a good fit if the following matters to you:
- Higher protection for Death and Terminal Illness coverage at an affordable premium.
- Higher Early Critical Illness, Critical Illness, and Total Permanent Disability coverage in an Insurance Policy.
- Health and Protection coverage due to a shortfall in your Insurance Portfolio.
- Accumulating cash value in the policy for financial returns in the long-term.
- Paying premiums only for a limited number of years and enjoying coverage for a lifetime.
Read About: How much insurance coverage do you really need in Singapore *NEW*
In-depth Review: Term life vs Whole life – Which is better for you?
Manulife LifeReady Plus II may not be suitable if you are looking for
Manulife LifeReady Plus II may potentially be a bad fit if the following matters to you:
- Liquidity or flexibility of withdrawal in your Insurance policy.
- Access to cash from your policy on a regular basis.
- Insurance policy with a high surrender value in the early years of the policy.
- Potentially higher financial returns compared to a pure investment product.
In-depth Review: 3 Best Endowment Savings Plans in Singapore with Lifetime Wealth Accumulation (2023 Edition)
In-depth Review: 3 Best Investment Linked Policies in Singapore for Wealth Accumulation (2023 Edition)
Further considerations on Manulife LifeReady Plus II
- How is Manulife or Manulife LifeReady Plus II investment returns based on historical performance?
- How does Manulife LifeReady Plus II compare with Whole Life Policies from other insurance companies?
- Can Manulife LifeReady 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 LifeReady Plus II. Talk to us or seek advice from a financial adviser before making any decision about Manulife LifeReady Plus II.
Read About: Where do you start with financial planning?
Read About: 8 Commonly made financial mistakes by Singaporeans
Compare before you commit
Before committing to a whole life insurance policy, it certainly pays to make an effort to compare. Specific product features, benefits, and payouts will differ more than you think across insurance companies.
Why regret only years later, when you find out that you are not getting the best insurance policy available for the premium paid?
Even worse, to know you can compare whole life insurance plans here, 100% free of charges on the InterestGuru.sg platform.
Is Manulife LifeReady Plus II suitable for me?
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