Manulife RetireReady Plus – Retire securely with additional disability payouts
Introducing RetireReady Plus, a retirement plan that offers the option to receive a lifetime of Guaranteed Monthly Income and the freedom to adjust your income payout period. Plus, additional income for loss of independence to cushions you in times of needs.
Manulife RetireReady Plus review – Get guaranteed Monthly Income payouts for life, or a period of 5, 10, 15, or 20 years. Get up to 100% additional payout upon failing ADLs.
We all have dream plans for retirement. But how do we get there? Introducing RetireReady Plus, a plan for retirement that offers you the option to receive Guaranteed Monthly Income for life. Should your retirement needs change, you’ll have the freedom to adjust your income payout period. Plus, additional income for loss of independence cushions you in times of need.
For the golden years you’ve always dreamed of, this plan is here for you. Guaranteed acceptance with no health questions asked.
- Premium term (You pay an insurance premium for): In a single lump sum, over 5,10, 15 or 20 years
- Policy term (You receive a retirement income for): 5, 10, 15, 20 years or a lifetime
- Retirement income payout age: 50, 55, 60, 65 or 70
- Retirement income payout mode: Monthly
|Manulife RetireReady Plus (Product details at a glance)|
|Cash value and Withdrawal benefit(s)||Yes||No|
|Policy cash value|
|Regular retirement income payouts (Monthly/ Yearly)|
|Health and Insurance coverage(s)||Yes||No|
|Total and Permanent Disability coverage||X|
|Terminal Illness coverage|
|Critical Illness coverage||X|
|Early Critical Illness coverage||X|
|Optional insurance rider(s)||Yes||No|
|Insurance riders to enhance coverage|
|Additional product feature(s)||Yes||No|
|Additional 50% of your monthly income for failing 2 of 6 ADL|
|Additional 100% of your monthly income for failing 3 of 6 daily ADL|
|Option to reinvest your monthly retirement income|
|Capital guaranteed upon retirement age|
|Flexibility to adjust your income payout period|
|Waiver of premiums upon disability|
|No medical underwriting required|
Additional product feature(s) on Manulife RetireReady Plus
Detailed features and unique selling points of Manulife RetireReady Plus:
Additional 50% of your monthly income for failing 2 of 6 ADL
- Receive an additional 50% of your guaranteed monthly income if you cannot fulfil at least 2 out of 6 daily activities of living.
Additional 100% of your monthly income for failing 3 of 6 daily ADL
- Receive an additional 100% of your guaranteed monthly income if you cannot fulfil at least 3 out of 6 daily activities of living.
Option to reinvest your monthly retirement income
- Enjoy the option of reinvesting your monthly retirement income with Manulife at a non-guaranteed rate of up to 3% p.a.
Capital guaranteed upon retirement age
- The policy is capital guaranteed upon you reaching the selected retirement payout age with a potential total yield of up to 271% of total premium paid.
Flexibility to adjust your income payout period
- You can make adjustments to your stated retirement income payout period even after you sign up and is currently making paying insurance premium for this retirement policy.
Waiver of premiums upon disability
- All future premium for this policy is waived in the event of total and permanent disability (Not applicable for single premium payment term).
No medical underwriting required
- You can purchase this plan irregardless of your health condition with no medical checkup required (If riders are not taken up).
Additional riders for Manulife RetireReady Plus
The following riders can be added on to your Manulife RetireReady Plus at an additional cost for greater assurance to your retirement goals:
- Cancer Care Premium Waiver Rider – Waive off your future premium of the base policy upon the diagnosis of major cancer.
- Critical Care Waiver Rider – Waive off your future premium of the base policy upon the diagnosis of any of the 35 covered critical illness.
Who should take up a Manulife RetireReady Plus?
Manulife RetireReady Plus is a retirement income plan. This category of insurance plans are suitable or unsuitable depending on the following factors:
Manulife RetireReady Plus is suitable for
- Mid to long term wealth enhancement
- Providing a monthly retirement income over a selected period of years or for a lifetime
- Mid to long term savings commitment period (Via 5,10, 15 or 20 years premium term)
- Retirement product with yearly guaranteed cash benefits in your retirement years
- Hassle-free application without medical underwriting (If no riders are added)
- Do not need access or partial withdrawal on your savings until your retirement age
- Providing an additional retirement income stream in the event of disability during your retirement
Manulife RetireReady Plus is not suitable for
- High insurance protection and coverage
- Investment product with potentially higher returns and risk
- High surrender value in the early years of the policy
Sample policy illustration for Manulife RetireReady Plus
Learn more about Manulife RetireReady Plus
Leave your personal details via the retirement income plan contact form to receive your personalised quote. You may also compare plans similar to Manulife RetireReady Plus using the retirement income plan comparison portal.
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