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21 November 2017

Manulife Heirloom (V): Designed for the ones who truly appreciate the value of legacy

SINGAPORE, 21 Nov 2017 – Manulife Singapore has launched Heirloom (V), the latest iteration of its Heirloom series. Heirloom (V) is a universal life insurance plan (denominated in US dollars) that offers the benefits of high insurance cover along with cash value accumulation. Heirloom (V) is aimed at high net-worth individuals looking for strategies to grow and protect their wealth, provide timely liquidity, diversify and balance their portfolios, and aid business continuity.

Leaving a legacy for generations to come

Heirloom (V) can be tailored to achieve any of the four financial needs:

1. Legacy Planning

Enhance your wealth and assets.

2. Estate Liquidity

Gain the liquidity you need to divide your estate equally without affecting business.

3. Portfolio Diversification 

Spread out your investments and achieve the right balance in your portfolio for a peace of mind even in uncertain market conditions. 

4. Business Continuity 

Ensure the future of your business by protecting your most valuable employees. 

Protect and grow your hard-earned wealth with the flexibility you require

Carlos Vazquez, Chief Product Officer, Manulife Singapore said: "We live in an age where people want to make the most out of life by constantly redefining the way they live. This is even more so among the affluent – being rich is not only about wealth, but also being empowered with the freedom to make life choices. At Manulife, we understand high net-worth customers and the intricacies that drive them. Manulife Heirloom (V) is a bespoke solution designed to empower the high net-worth customer with the flexibility they desire, to help them enhance and distribute their wealth just the way they choose to." 

Heirloom (V)
 offers a suite of benefits designed to give you greater flexibility while increasing the cash value of your policy. Beyond death coverage, it provides a guaranteed minimum crediting interest of 2% each year, and an additional guaranteed loyalty bonus crediting interest of 0.25% each year[1]. 

Customers can also be assured of transparency in cost of insurance charges, capped at 110% of current rates, and benefit from lower face amount charges for policies with face amount more than or equal to US$10 million. 

Other key features include: 

Flexible changes to your life insured

For up to two years after the policy is issued: 
• make unlimited changes to your life insured if the policy owner is a corporation; or 
• make up to two changes to the life insured if the policy owner is an individual 

Flexible premium payments

Choose when to make a payment and how much to pay within pre-set limits based on policy value, death benefit and policy in-force duration 

Free partial withdrawals

Allowed without incurring surrender charges or reducing the face amount from policy year 11 (subject to a withdrawal limit of 5% of the policy value for a particular year) 

Six underwriting risk classes

Enjoy lower policy charges if you qualify for a preferential risk class 

Smokers can also benefit from the Quit Smoking Incentive (QSI), a unique feature first introduced by Manulife Singapore aimed at promoting a healthier lifestyle. Under QSI, smokers are charged with the lower Standard Non-Smoker policy charges for the first three policy years. At the end of the third year, if there is satisfactory medical evidence that the policyholder has quit smoking for at least 12 months in a row, his/her policy will be permanently reclassified to that of a standard non-smoker. 

Manulife also provides Parental Guarantee for your >Heirloom (V) policy where all valid claims are guaranteed by The Manufacturers Life Insurance Company (“Manulife Financial”), a Canadian life insurance company and the parent of Manulife (Singapore) Pte. Ltd. 

Find out more about Heirloom (V) here:

[1] From year 16 or after age 70, whichever is later, until age 100. 

About Manulife Singapore

Established in 1899, Manulife Singapore provides insurance, retirement and wealth management solutions to meet the financial needs of our customers across their various life stages. Customers can readily access our solutions through our extensive multi-channel distribution network. In addition to our established agency force, we distribute our products through a number of specialist partners, including banks and financial advisory firms. For more information on Manulife Singapore, visit 

About Manulife

Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016, we had approximately 35,000 employees, 70,000 agents, and thousands of distribution partners, serving more than 22 million customers. As of September 30, 2017, we had over $1 trillion (US$806 billion) in assets under management and administration, and in the previous 12 months we made $27.1 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.



Media Contacts

Rachel Lok / Charlene Loke
AKA Asia