Do you know? 53% of respondents in Singapore expressed concerns about the impact of rising healthcare costs on their financial goals, according to Manulife Asia Care Survey 20231.
Uncertainty can throw you off-course in your pursuit of dreams, but Manulife is here to keep your dream safe.
How to retire comfortably even as the cost-of-living rises?
Build a steady stream of monthly retirement income
First, find out how much retirement income you need for your desired retirement lifestyle. Then choose a plan that provides you with a steady stream of monthly income over a lifetime2, or over your choice of 53, 10, 15 or 20 years.
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Plan for retirement with inflation in mind
Imagine you are 50-year-old and expect inflation to rise by 40 basis points4. The cost of living will increase by 11% when you are 65-year-old, and you may have to delay your retirement by 26 months to accumulate enough savings to cover your post-retirement expenses.
You may want to consider an investment-linked plan that could potentially yield higher returns to cope with inflation.
Learn more about our investment-linked plans
Cope with unexpected health issues amidst rising healthcare cost
Our retirement insurance plan offers additional5 payouts in the face of any Loss of Independence6, to help you cope with the medical and long-term care costs. What's better? Some such plan offers guaranteed acceptance with no medical questions asked.
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Investment-linked plan offers add-on protection coverage for death, terminal illness, critical illness and/or hospitalisation benefits.
Check out Manulife InvestReady (III) + our new ReadyCare Riders7
Understanding what you need is the first step toward formulating a solid strategy. Check out our how-to-guides on investment planning
Dreams come in different shapes and sizes, as do our solutions. To secure your dreams, connect with our financial consultants today to find out how we can assist you to:
- identify your financial and protection gaps, and
- provide personalised financial advice to achieve your goals
Thank you for contacting Manulife Singapore!
Our Financial Consultant will be in touch with you soon.
Here are some links you might find useful.
You may be interested in:
Thank you for contacting Manulife Singapore!
Our Financial Consultant will be in touch with you soon.
Here are some links you might find useful.
Having other goals in life?
Important information
Terms and conditions apply, please refer to the respective Product Summaries and Policy Contracts for specific definitions.
Footnotes
1. Manulife Asia Care Survey, 2023 (https://www.manulife.com.sg/en/about-us/newsroom/singapore-respondents-hope-of-saving-for-retirement-stifled-by-more-immediate-financial-and-lifestyle-pressures.html)
2. Manulife IncomeGen - Lifetime monthly income consists of guaranteed and non-guaranteed monthly income. Guaranteed monthly income is equal to 0.81% of the sum insured divided by 12. Based on illustrated investment rate of return of 4.25% p.a., non-guaranteed monthly income is equal to 2.43% of the sum insured divided by 12, and based on illustrated investment rate of return of 3.00% p.a., non-guaranteed monthly income is equal to 1.17% of the sum insured divided by 12.
ReadyRetire Plus (III) - The Guaranteed Monthly Income (GMI), less any policy debt, will start one month after the policy anniversary immediately after the life insured reaches the selected retirement age and to the end of his/her selected income payout period.
3. RetireReady Plus (III) - Not applicable to policies with single premium and 5 years premium payment term.
4. Manulife Insight Article: Plan for retirement with inflation in mind (Plan for retirement with inflation in mind (manulife.com.sg)
5. RetireReady Plus (III) - If the life insured is not able to perform any 2 out of 6 Activities of Daily Living, the Loss of Independence Income Benefit payable is equivalent to 50% of the GMI, capped at a maximum of S$2,000 per month per policy. If the life insured is not able to perform at least 3 out of 6 Activities of Daily Living or diagnosed with Irreversible Loss of Speech, Deafness (Irreversible Loss of Hearing) or Major Head Trauma, the Loss of Independence Income Benefit payable is equivalent to 100% of the GMI, capped at a maximum of S$4,000 per month per policy.
6. RetireReady Plus (III) - Please refer to Product Summary for more details on the Loss of Independence conditions.
7. ReadyCare Riders - Protection coverage for ReadyCare Riders is up to before the policy anniversary immediately after the life insured’s 85th birthday.
Important notes
These insurance products are underwritten by Manulife (Singapore) Pte. Ltd. (Reg. No. 198002116D). This advertisement has not been reviewed by the Monetary Authority of Singapore. Protected up to specified limits by SDIC. Buying a life insurance policy is a long-term commitment. There may be high costs involved if you terminate the policy early, and your policy's surrender value (if any) may be zero or less than the total premiums paid. Your investments are subject to investment risks, and you may lose the principal amount invested. The performance of the ILP fund(s) is not guaranteed. The value of the units in the ILP fund(s) and the accumulated income (if any) may fall or rise. The Fund Managers shall have the absolute discretion to determine whether a distribution is to be made in respect of the ILP fund(s) as well as the rate and frequency of distributions to be made. The intention of the Fund Managers to make the distribution and the distribution yield for the ILP fund(s) is not guaranteed, and the Fund Managers may review the distribution policy depending on prevailing market conditions. Distributions may be made out of income, net capital gains and/or capital. Past distribution yields and payments are not necessarily indicative of future distribution yields and payments. Any payment of distributions by the ILP fund(s) may result in an immediate decrease in the net asset value per unit. You should read the prospectus and the product highlights sheet and seek financial advice before deciding whether to purchase units in the ILP Fund(s). A copy of the prospectus and the product highlights sheet can be obtained from a Manulife Financial Consultant or our Appointed Distributors.
This website is for your information only and does not consider your specific investment objectives, financial situation or needs. It is not a contract of insurance and is not intended as an offer or recommendation to purchase the plan. You can find the full terms and conditions, details, and exclusions for the mentioned insurance product(s) in the policy contract.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg).
We recommend that you seek advice from a Manulife Financial Consultant or our Appointed Distributors before making a commitment to purchase a policy.
Information is correct as of 21 July 2023.
