Manulife LifeReady Plus II – Coverage for every stage of your life.
With Manulife LifeReady Plus II, you can be assured of comprehensive lifetime coverage at an affordable premium.
Manulife LifeReady Plus II review – A whole life insurance plan with the flexibility to add on riders providing death, disability, critical illness and retrenchment. Choose to supplement your retirement income as you reach your golden years.
Manulife LifeReady Plus II gives you protection against Death, Total and Permanent Disability, Terminal Illness with optional riders for coverage against Early Critical Illness and Critical Illness. And when you no longer need the financial coverage, surrender your policy for cash value to spend as you like.
- Multiplier coverage: Additional 2X, 3X or 4X protection up till age 70 or 80
- Premium term: Pay premiums for 10, 15, 20, 25, 30 years or up till age 99
|Manulife LifeReady Plus (Product details at a glance)|
|Cash value and Withdrawal benefit(s)||Yes||No|
|Policy cash value|
|Choice of premium/ payment terms|
|Options for coverage multipliers|
|Options to increase coverage at life stages|
|Conversion to retirement income/ savings plan|
|Health and Insurance coverage(s)||Yes||No|
|Total and Permanent Disability coverage|
|Terminal Illness coverage|
|Critical Illness coverage|
|Early Critical Illness coverage|
|Optional insurance rider(s)||Yes||No|
|Insurance riders to enhance coverage|
|Additional product feature(s)||Yes||No|
|Flexible premium terms - Choose from premium term 10 to 25 years at multiple of 5|
|Option to choose multiplier of 1x to 5x|
|Health Advantage benefit gives premium discount for first 2 policy year and the discount continue if you meet health requirements|
|Option to purchase addtional cover with no underwriting during key life stages|
|Retrenchment benefit waive premiums for 6 months|
|Option to convert cash value into annuity payout|
Additional product feature(s) on Manulife LifeReady Plus II
Detailed features and unique selling points of Manulife LifeReady Plus II:
Health Advantage benefit
- Enjoy upfront discounted premiums for the first 2 years, continue to enjoy the disocunted
- Option to increase coverage without proof of good health at life’s milestones such as getting married, having a child, etc.
- 6 months of premiums can be waived if you or your spouse becomes retrenched for 30 days or more
Additional riders for Manulife LifeReady Plus II
The following riders can be added to your Manulife LifeReady Plus II at an additional cost for greater protection towards your coverage goals:
- Early Critical Care Rider III
- Critical Care Rider III
- Early Critical Care Waiver Rider
- Critical Care Waiver Rider III
Who should take up Manulife LifeReady Plus II?
Manulife LifeReady Plus II is a whole life plan. This category of insurance plans are suitable or unsuitable depending on the following factors:
Manulife LifeReady Plus II is suitable for
- High insurance coverage against Death and Terminal Illness
- High insurance coverage against Early Critical Illness, Critical Illness and Total and Permanent Disability
- Paying premiums over a set amount of time for lifetime insurance coverage
- Accumulate cash value and non-guaranteed bonuses that can be surrendered for profit at later stages
Manulife LifeReady Plus II is not suitable for
- High surrender value at early stages
- Flexible access or withdrawal of funds
- Higher potential returns compared to an investment-linked policy
- Low premiums for amount of coverage compared to a term life plan
Sample policy illustration for Manulife LifeReady Plus II
Learn more about Manulife LifeReady Plus II
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