Manulife Signature Income Review
The complete Pros and Cons on Manulife Signature Income
NOTE: Manulife Signature Income is no longer available and has been replaced by Manulife Signature Income II.
Manulife Signature Income product details
Receive a lifetime stream of income with just a single premium payment. Manulife Signature Income is designed to ensure a long-lasting legacy based on values and wealth.
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- Life policy – Annuity
- A retirement income plan that gives you the certainty with a Monthly Income consisting of a Guaranteed and Non-Guaranteed payout.
- Attractive policy features include:
- Desired Retirement Age – Payout start from the 5th policy year
- Income Payout Period – Lifetime
- Premium Payment Period – Single premium
- Choice of payout: SGD or USD
- Withdrawal Option: Guaranteed cash value of 80% of your single premium from Day 1.
- Protection: Whole life coverage on Death and Terminal Illness up to age 99
- From the 5th policy year, you can choose to receive a lifelong income payout or accumulated income payout at a non-guaranteed rate of 3% p.a.
- Policy can also be transferred to your next generation to enjoy its benefits
Read about: Why your retirement planning starts now
Read about: 3 Best Retirement Plans and Annuity Policies in Singapore (2023 Edition) *Updated*
Features of Manulife Signature Income at a glance
Cash and Cash Withdrawal Benefits
- Cash value: Yes
- Cash withdrawal benefits: Yes (via surrender or income payout)
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
- 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.
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Manulife Signature Income may be suitable if you are looking for
Manulife Signature Income may potentially be a good fit if the following matters to you:
- Lifetime regular cash payout during retirement
- Saving via a single lump sum
- A one-time premium commitment with no further cash commitment
- Insurance options without medical underwriting
- Do not need access to the funds until retirement
- High guaranteed lump sum upon surrendering of policy
- To potentially generate higher financial returns compared to bank accounts
Read about: 3 things to consider before taking up a new financial product
Read about: Effects of compounding returns on your investments
Manulife Signature Income may not be suitable if you are looking for
Manulife Signature Income 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
- Potentially higher financial returns compared to a pure investment product.
Read about: Why should you choose a shorter premium term on your insurance policies
Further considerations on Manulife Signature Income
- How is Manulife or Manulife Signature Income investment returns based on historical performance?
- How does Manulife Signature Income compare with retirement policy from other insurance companies?
- Can Manulife Signature Income fulfil my financial, insurance, health and protection needs?
The above information may not fully highlight all the product details and features on Manulife Signature Incomey. Talk to us or seek advice from a financial adviser before making any decision about Manulife Signature Income.
Always ensure your long-term financial goals and objectives are aligned with the financial product you are considering to take up.
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 products 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 Signature Income 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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