What is RetireReady Plus (III)?
RetireReady Plus (III) is a regular premium retirement savings plan available in Singapore. It serves the same purpose as other retirement savings schemes or annuity plan in market, designed to provide you with financial peace of mind. This plan offers a dependable and consistent stream of income to support your retirement lifestyle, ensuring you can enjoy your golden years with confidence and security.
How does it work?
Select your desired Guaranteed Monthly Income1, preferred premium payment term and desired retirement age. Make regular premium payments over the chosen term. Upon reaching your desired retirement age, you'll begin receiving your monthly income over your selected payout period. This payout includes both your guaranteed monthly income and any non-guaranteed cash bonuses, providing you with a stable and secure foundation for your retirement.
Who is it for?
RetireReady Plus (III) is suitable for individuals focused on securing a financially stable future for their retirement. It is particularly appealing to those who have clear visions for their retirement lifestyle and seek a savings plan that integrates into their overall financial strategy towards seamless retirement. Whether you're starting early or looking to boost your retirement savings, this plan offers flexibility and security to help you achieve your retirement goals with confidence.
Important information
Terms and Conditions apply. Please refer to the respective product summary for more information.
- 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.
- Only applies to individual owned policies and policies where life insured is aged 64 and below, during the first 5 policy years (for SP policies), during your premium payment term (for RP policies), or before the policy anniversary immediately after his or her 65th birthday, whichever is earlier.
- If the life insured is not able to perform any 2 out of 6 Activities of Daily Living even with the aid of special equipment, 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 even with the aid of special equipment, 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.
- Not applicable to single premium policies.
- For single premium and first party policies only.
Important notes
RetireReady Plus (III) and its supplementary benefits are underwritten by Manulife (Singapore) Pte. Ltd. (Registered number 198002116D). This advertisement has not been reviewed by the Monetary Authority of Singapore. 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. This brochure 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. If there are any differences between the English and Chinese versions of this brochure, the English version will apply.
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 its Appointed Distributors before making a commitment to purchase a policy.
Information is correct as at 15 September 2024.
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