Retirement Plans

RetireReady

The retirement plan that gives you more time for yourself, and others.

RetireReady

With your busy life, your passions and goals may be taking a backseat. But, what if you can have a regular stream of monthly income to pursue your passions, for yourself and others? RetireReady can help make it happen for you.

This plan offers you a Guaranteed Monthly Income1 (GMI) of up to 2.57%2 per annum starting from your selected Retirement Age. What’s more, you may earn annual bonus3 before retirement and non-guaranteed cash bonus after your selected Retirement Age. So in all, you can boost your total returns up to 4.43%4 over the life of the plan.

Product Details

Benefits at a Glance:

Flexibility

  • Choice of Income Payout Period – Up to 80, 90 years old or for life
  • Choice of Premium Payment Term – For 5, 10 or 20 years
  • Choice of Retirement Age – At 55, 60, 65 or 70 years old
  • Choice of GMI1 – To suit your needs and budget
  • Choice to receive accumulated annual bonus3 at your selected Retirement Age:
    • Lump sum payout or
    • Additional Monthly Income that enhances your GMI1

Certainty

  • Get back at least 100% of the premiums paid at your selected Retirement Age
  • Hassle-free application with no medical health check required

Added peace of mind

  • Your premiums will be waived5 upon occurrence of Total and Permanent Disability
  • Receive 2x GMI1 for Loss of Independence6, if you are not able to perform at least 3 of these 6 activities of daily living:
    • Washing
    • Dressing
    • Transferring
    • Mobility
    • Toileting
    • Feeding

This plan can help you with these possible needs:

Basic:
  • Living expenses
  • Medical expenses
 
Supplementary:
  • Desired lifestyle expenses
 

How RetireReady can help you achieve your retirement goals

Andrew, age 40, plans to retire at 65 years old, and would like to receive a GMI1 of S$2,000 up to 90 years old. He selects RetireReady and will pay his premiums annually for 10 years.

Note: The above is only for illustrative purposes and not drawn to scale. The projected7 figures are not indicative of the likely or future performance of RetireReady plan.

Risk Disclosure: The benefits (including any guaranteed and non-guaranteed payouts) are provided by Manulife (Singapore) Pte. Ltd. (“Manulife”) and are not obligations of or guaranteed by DBS Bank Ltd (“DBS”) or any of its affiliates or subsidiaries. Customers are subject to the credit risk of Manulife.

Other Income Options

When Andrew is 65 years old, he can also choose to receive his retirement income in 1 of the 3 available options below:

Option 1:

Accumulate9 GMI1, converted Additional Monthly Income and non-guaranteed cash bonus with Manulife to earn interest10.

Option 2:

Withdraw 100% of his accumulated annual bonus3 and choose to receive his GMI1 and non-guaranteed cash bonus during the income payout period.

Option 3:

Fully withdraw the total cash value which will be more than the total premiums paid.

How to Apply

Footnotes:
1 Manulife (Singapore) Pte. Ltd. (“Manulife”) will pay you the Guaranteed Monthly Income (GMI) (less any policy debt), starting one month after the policy anniversary immediately after the life insured reaches the chosen Retirement Age and Manulife will pay this till the end of your chosen income payout period. For a single-life policy, the life insured will also be the Policy Owner.
2 The guaranteed return varies depending on the different combination of entry age, premium payment term, Retirement Age and Income Payout Period. The guaranteed return of 2.57% per annum is applicable only upon policy maturity. It is based on the assumption that a 25-year-old customer has opted to pay premiums annually for 10 years, and will start receiving retirement income from Retirement Age of 70 till 90.
3 Manulife may declare an annual bonus from the second policy anniversary until the policy anniversary immediately before the life insured’s Retirement Age. Manulife will keep the declared annual bonus, however it will not earn any interest. Manulife will pay the accumulated annual bonus as a lump sum when the life insured dies. If you cash in the policy, Manulife will pay the cash-in value of accumulated annual bonus.
4 The total yield varies depending on the different combination of entry age, premium payment term, Retirement Age and Income Payout Period. The total return of 4.43% per annum is applicable only upon policy maturity. It is based on the assumption that a 31-year-old male customer has opted to pay premiums annually for 5 years, and will start receiving retirement income from Retirement Age of 60 till age 80.
5 If the life insured suffers a Total and Permanent Disability before the policy anniversary immediately after his/her 65th birthday and at any time during the premium payment period, he/she will not have to pay the future premiums for this policy.
6 At any time during the income payout period, if the life insured meets the Loss of Independence definition, Manulife will pay a Loss of Independence income equivalent to the GMI. This will start from the next retirement income payment date, after the end of the deferment period. Deferment period means the 90-day period from the claim date (including the claim date). You cannot leave the Loss of Independence income due under this benefit with Manulife. This benefit ends immediately on the date the life insured recovers and is no longer in the state of Loss of Independence. If the life insured has recovered but loses independence again, you are entitled to this benefit again as long as the life insured continues to meet the Loss of Independence definition. For the full definition of Loss of Independence and the 6 activities of daily living, please refer to the Product Summary and Policy Contract.
7 Projection is based on 4.75% per annum investment rate of return. The bonus rates used for the benefit illustrated are not guaranteed. The actual benefits payable may vary according to the future performance of Manulife’s Participating Fund.
8 Total projected payout comprises GMI, cash bonus and Additional Monthly Income (if any). As cash bonus is not guaranteed, the actual benefits payable may vary according to the future performance of Manulife’s Participating Fund.
9 You have the flexibility of withdrawing the accumulated GMI, Additional Monthly Income and cash bonus with interest subsequently. The minimum amount for a withdrawal is S$500 or the balance available. This withdrawal will not affect future monthly income amounts.
10 3% per annum is the current interest rate. It is non-guaranteed and based on the projected investment rate of return of 4.75% per annum. The rate is subject to change by Manulife with 30 days advance notice to the Policy Owner.

Information is correct as at 27 June 2016.

Important Notes

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