Frequently Asked Questions

Is this a participating policy and what does it mean?

This participating endowment policy offers you insurance coverage and also invests part of your premiums in the insurer’s Participating Fund. By purchasing a participating plan, your premiums will be pooled together and invested with premiums from other policyholders in the Participating Fund managed by Manulife (Singapore) Pte. Ltd.

This plan comprises guaranteed and non-guaranteed benefits in the form of bonuses. The bonus we may pay to you depends on the future performance of the participating fund that this policy is invested in.

Does SavvySpring (II) provide bonuses?

Yes. There are 4 types of bonuses for SavvySpring (II), and this provides for the non-guaranteed benefits.

(a) Reversionary bonus

Reversionary bonus is a bonus that may be declared every year. The bonus rate is non-guaranteed. Once vested, it will form part of the guaranteed benefits of this policy.

The accumulated reversionary bonus will be payable upon death, TI, TPD or upon policy maturity, or it may be surrendered for cash value.

In addition, the following additional bonuses may be paid:

(b) Maturity bonus – when your policy matures

Maturity bonus is an additional bonus (a percentage of the accumulated reversionary bonus) which is non-guaranteed.

(c) Surrender (cash-in) bonus – when you surrender the policy before maturity

Surrender bonus is an additional bonus (a percentage of the surrender value of the accumulated reversionary bonus) which is non-guaranteed.

(d) Claim bonus – when a claim is made on the policy

Claim bonus is an additional bonus (a percentage of the accumulated reversionary bonus) which is non-guaranteed.

Can I apply for a policy on behalf of a family member or friend?

No, the life insured covered must also be the policy owner.

Can foreigners apply?
Foreigners who are Singapore Permanent Residents (PR) currently residing and paying tax in Singapore only may apply.
Can I purchase more than 1 policy?
Yes. You can purchase more than one policy. You should consider your financial commitments when deciding on the amount of premium for this plan.
Will I get my premium back if I surrender my policy before the policy maturity date?
As buying a life insurance policy is a long term commitment, an early surrender (before the policy maturity date) of the policy usually involves high costs and the surrender value that you receive may be less than your single premium paid. You may write in to [email protected] to terminate your policy.
Who can I contact if I have further queries?
If you have further product-related enquiries, please email Manulife at [email protected]. If you are facing technical difficulties, you may explore our live chat service in DBS/POSB digibank online.

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