Manulife Ready LifeIncome II Review

Manulife Ready LifeIncome II is a whole life savings plan that provides yearly payout and coverage up to 120 years of age with only 5 or 10 years of premiums paid

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

Manulife Ready LifeIncome II product details

• Yearly Payouts
  • Enjoy guaranteed and non-guaranteed yearly income up to age 120, starting after the end of the premium payment term
• Premium Payment Terms
  • Choose to pay premiums for 5 or 10 years
• Insurance Coverage
  • Be covered against Death and Terminal Illness till age 120
    • The higher of 105% of all premiums paid or the guaranteed surrender value as well as the non-guaranteed bonuses and any accumulated income with interest
• Total and Permanent Disability Premium Waiver
  • Continue to receive coverage while future premiums are waived upon Total and Permanent Disability during the policy payment term
• Hassle-free Application
  • Enjoy guaranteed acceptance with no health questions asked
• Option to Change Life Assured
  • You may pass the benefits of the policy to your loved ones by changing the life assured to them
• Premium Freeze Options
  • You can stop paying premiums for a year

Read about:  Why your retirement planning starts now

Read about: Effects of compounding returns on your investments

Features of Manulife Ready LifeIncome 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: 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.

Read about: How can I accumulate a million dollar (Realistically)

Read about: The Complete Guide to Retirement Planning (2023 Edition) *NEW*

Manulife Ready LifeIncome II may be suitable if you are looking for

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

Manulife Ready LifeIncome 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 Ready LifeIncome II

• How are Manulife or Manulife Ready LifeIncome II investment returns based on historical performance?
• How does Manulife Ready LifeIncome II compare with retirement plans and annuity policies from other insurance companies?
• Can Manulife Ready LifeIncome II 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 II. Talk to us or seek advice from a financial adviser before making any decision about Manulife Ready LifeIncome II.

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

Read about: 3 best Retirement plans and Annuity policies in Singapore (2023 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.

Is Manulife Ready LifeIncome II 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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We compare quotations head to head on all leading insurers in Singapore

Before you go...

Manulife Ready LifeIncome 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!

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Additional readings

• The 8 Overall Best Whole Life Insurance Plan in Singapore (2023 Edition)
• The 8 Overall Best Term Life Life Insurance Plan in Singapore (2023 Edition)