Last Updated on by Tree of Wealth
Manulife Ready LifeIncome is a Lifetime Income endowment that is flexible in terms of premium options as well as yearly payout options. Coupled with that, a feature that makes Manulife’s Ready LifeIncome stand out is the Secondary Life Insured feature, which allows the primary life insured to leave the payout from the plan to the secondary life insured, continuing the legacy.
Features At a Glance
Receive both guaranteed and non-guaranteed payouts at the chosen income payout year up to age 120. Guaranteed of 0.95% of sum assured and non-guaranteed payout is at 2.05% based on the projected rate yield rate of 4.75%. Non-guaranteed of 0.90% of sum assured is based on projected rate of 3.25%.
Flexible Yearly Payout Options
Choose payout year from end of 5th year or end of 10th year (applicable for 10 years premium term policies).
Flexible Premium Options
Choose premium term of 5 or 10 years. There is also a premium freeze option for pausing of premium payment for 1 year.
Guaranteed Issuance Option (GIO)
Application is hassle free & simple, and acceptance is guaranteed regardless of your health condition. No medical questionnaires nor health check-up required.
Protection From TPD
Be covered against Total and Permanent Disability (TPD) before the age of 70. Enjoy waiver of future premiums upon TPD before age 70 during premium term.
Secondary Life Insured Option
Choice to appoint a Secondary Life Insured to continue the endowment payout upon primary life insured’s death. This option can appoint/change up to 3 times during the policy’s term.
Upon Death and Terminal Illness
How It Works
Interested to learn more?
Fill in the form below and we will get back to you!
Conclusion For Manulife Ready LifeIncome
Single Premium Retirement planning using Cash & SRS is a helpful way of accumulating and growing your wealth. It is also making full use of the SRS feature and to further prepare your retirement even more. The SRS is a great concept and SRS-abled Retirement Plans complement it even further.
Are you considering Single Premium retirement planning with your Cash/SRS? Let us do the homework and help you compare across the different retirement plans in the market to save you time. Drop us an inquiry below and our professional experienced licensed FA advisor will get in touch with you shortly upon your request.
No obligations. No hidden fees and costs. Just professional advice.