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At a Glance
The freedom to spend your retirement exactly as you wish is in easier reach, with a Guaranteed Monthly Income1 (GMI) that you receive at your chosen retirement age.
And if you wish to adjust2 your Income Payout Period after your plan begins, you also have the flexibility to do so, up to 2 years before your chosen retirement age. Letting you adjust your plan to meet any changing needs with no change to your premiums. You could also convert3 your Accumulated Annual Bonus to Additional Monthly Income.
Enhance your coverage with a selection of riders.
Features & Benefits
Flexibility to customise, and meet your changing needs
- Choice of preferred Premium Payment Term – Single premium 5, 10, 15 or 20 years
- Choice of Retirement Age – At 50, 55, 60, 65 or 70 years old
- Choice of GMI1 amount at your chosen retirement age
- Choice of Income Payout Period – For 5, 10, 15, 20 years or Lifetime
- Choice of receiving your Accumulated Annual Bonus (if any) in a lump sum at your chosen retirement age, or as Additional Monthly Income payable in addition to you GMI1 and Cash Bonus
- Adjust2 your Income Payout Period to a shorter or longer period at any time, up to two years before your chosen retirement age
- Choice of a selection of riders to enhance your coverage
Assurance of a guaranteed retirement income
- 100% capital guaranteed at chosen retirement age
- Guaranteed issuance with no medical check-up required
- Receive up to 100% of GMI1 in the event of Loss of Independence4, depending on the severity
- Premium wavier5 upon Total and Permanent Disability (TPD) during the premium payment period or up to 70 years old, whichever is earlier
- Coverage for Death2 from the start of your policy
How it Works
How to Apply
1 The Guaranteed Monthly Income (less any policy debt) will start one month after the policy anniversary immediately after the Life Insured reaches the chosen retirement age and to the end of his chosen Income Payout Period. For a single-life policy, the Life Insured will also be the policy owner.
2 Please refer to the Product Summary and Policy Contract for more details.
3 A conversion factor will be used to convert the Accumulated Annual Bonus into Additional Monthly Income and Manulife will decide on the conversion factor to use.
4 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, 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. Please refer to the Product Summary for specific definitions.
5 Waiver of premiums only applies to regular premium plans.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Information is correct as at 10 December 2018
POSB Insurance Important Notes