The certainty of quality income in your next chapter of life. RetireReady Plus

Transcription

1 The certainty of quality income in your next chapter of life. RetireReady Plus

2 Write your next chapter in life with certainty. Introducing RetireReady Plus, a plan that gives you the option to receive income for life. Yes, you read it right. What s more this plan lets you have the freedom to change 2 your income payout period at any time, up to 2 years before your selected retirement age. As you enter the golden age of your life, new experiences await. Let nothing stand in your way. Age is just a number, not a limit. Embark on your next chapter in life with RetireReady Plus.

3 Planning for your retirement is simple with RetireReady Plus. Additional Income 3 for Loss of Independence 1 As your body shows signs of age, we will be here with you to ensure you do not have to sacrifice the quality of life. Customise your RetireReady Plus plan to match your needs: Provides Death 1 Coverage, and waiver 1 of premiums in the event of Total and Permanent Disability (TPD) during the premium payment period or up to age 70, whichever is earlier. Waiver of premiums only applies to regular premium plans. RetireReady Plus offers you additional income 3 for loss of independence 1 at any time during the selected income payout period, when you meet: Any 2 out of 6 ADLs Additional 50% of your Guaranteed Monthly Income 4 OR At least 3 out of 6 ADLs Additional 100% of your Guaranteed Monthly Income 4 Premium payment period 5 years 20 years 10 years single premium 15 years Income payout period 5 years 20 years 10 years Lifetime 15 years Hassle-free application with no health checks needed. Activities of Daily Living (ADLs): Washing Dressing Transferring Mobility Toileting Feeding Retirement age 50 years old 55 years old 60 years old 65 years old 70 years old Mode of Payment Cash Supplementary Retirement Scheme (SRS) Your capital is 100% guaranteed upon your selected retirement age. Freedom to change your mind We don t know what lies ahead, but we do know plans can change. With RetireReady Plus, enjoy the freedom to adjust 2 your income payout period according to your changing needs, anytime, up to 2 years before your retirement age. You call the shots. Available income payout period options are 5, 10, 15, 20 years or Lifetime. Desired guaranteed monthly income 4 (GMI) amount upon selected retirement age Non-guaranteed bonuses to boost your retirement income: Lump sum payout of accumulated Annual Bonus, or convert 5 to Additional Monthly Income Cash Bonus A selection of riders is available to further enhance your coverage.

4 Rachel s RetireReady Plus: Rachel, 45, plans to retire at 65. She would like to receive a Guaranteed Monthly Income of S$1,000 monthly for 20 years. She pays S$12, per year for 10 years. Total Potential Retirement Income Benefits per month for 20 years S$1, (S$1,000 + S$ S$298.83) Guaranteed Monthly Income 4 S$1,000 Total Potential Retirement Income Benefits Rachel receives over 20 years, if Rachel converts her accumulated annual bonus to additional monthly income: Total Potential Retirement Income Benefits Received S$343, (S$240,000 + S$31, S$71,719.20) 270% of Total Premiums Paid Total Guaranteed Monthly Income 4 Received S$240,000 Non-Guaranteed Additional Monthly Income S$ Total Additional Monthly Income Received S$31,977.60* Non-Guaranteed Cash Bonus S$ Total Cash Bonus Received S$71, Accumulation Period Income Payout Period Rachel s age Premiums of S$12, per year, for 10 years Total premiums Paid S$126, Coverage for Loss of Independence (LOI) during her Income Payout Period *Rachel s policy has accumulated S$27,316 in Annual Bonuses. Instead of withdrawing it as a lump sum, she has chosen to receive it as Additional Monthly Income of S$133.24/month. This will add up to a total of S$31, I want to receive a regular stream of income and with no compromise on my lifestyle when I retire. Retirement plans can change. Up to 2 years before the retirement age, Rachel has the freedom to change 2 her income payout period according to her changing needs. She has the option to change 2 her Income Payout Period from 20 years to: 5 years, 10 years, 15 years, or Lifetime If Rachel: She receives: Is unable to perform any 2 out of 6 Activities of Daily Living Additional 50% of her S$1,000 Guaranteed Monthly Income 4 S$500 LOI Income OR Is unable to perform at least 3 out of 6 Activities of Daily Living Additional 100% of her S$1,000 Guaranteed Monthly Income 4 S$1,000 LOI Income The values in the above illustration are based on illustrated investment rate of return of 4.75% p.a. Based on an illustrated investment rate of return of 3.25% p.a., the values are: Non-guaranteed Additional Monthly Income = S$13.31 Non-guaranteed Cash Bonus = S$53.58 Monthly Retirement Income Benefits = S$1,000 + S$ S$53.58 = S$1, Total Potential Retirement Benefits Received over 20 years = S$256,053.60

5 Product Footnotes 1. Please refer to the product summary and policy contract for more details. 2. Subject to approval. Conditions may change from time to time, and the request has to be submitted at least 2 years before the selected retirement age. Please refer to the product summary for more information. 3. For any 2 out of 6 ADLs, the LOI income benefit payable is equivalent to 50% of the GMI, capped at a maximum of S$2,000 per month per policy. For at least 3 out of 6 ADLs, the LOI income benefit payable is equivalent to 100% of the GMI, capped at a maximum of S$4,000 per month per policy. 4. The Guaranteed Monthly Income (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. For a single-life policy, the life insured will also be the policy owner. 5. A conversion factor will be used to convert the accumulated annual bonus into AMI and Manulife will decide on the conversion factor to use. Important Notes: RetireReady Plus and its riders are underwritten by Manulife (Singapore) Pte. Ltd. (Reg. No D). Applicable terms and conditions as well as payout limits apply. Please see the product summary and policy contract on RetireReady Plus for more details. 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 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. We recommend that you seek advice from a Manulife Financial Consultant before making a commitment to purchase a policy. If there are any differences between the English and Chinese versions of this brochure, the English version will apply. Information is correct as of 24 June Be ready to retire on your own terms. We re happy to help Speak to your Manulife Financial Consultant (65) manulife.com.sg/retirereadyplus Enjoy $50 premium cashback every 6 months when you hit 10,000 steps daily. Find out how at manulifemove.sg

6 The certainty of quality income in your next chapter of life. RetireReady Plus

7 Have the time of your life even when your plans change. RetireReady Plus is a plan that gives you a stream of income that starts from your selected retirement age. But what if plans change in the near future? Fear not, for you will have the freedom to change 2 your income payout period according to your needs, anytime, up to 2 years before the selected retirement age.

8 Planning for your retirement is simple with RetireReady Plus. Freedom to change your mind We don t know what lies ahead, but we do know plans can change. With RetireReady Plus, enjoy the freedom to adjust 2 your income payout period according to your changing needs, anytime, up to 2 years before your retirement age. You call the shots. Available income payout period options are 5, 10, 15, 20 years or Lifetime. Customise your RetireReady Plus plan to match your needs: Premium payment period 5 years 20 years 10 years single premium 15 years Income payout period 5 years 20 years 10 years Lifetime 15 years Provides Death 1 Coverage, and waiver 1 of premiums in the event of Total and Permanent Disability (TPD) during the premium payment period or up to age 70, whichever is earlier. Waiver of premiums only applies to regular premium plans. Hassle-free application with no health checks needed. Additional Income 3 for Loss of Independence 1 As your body shows signs of age, we will be here with you to ensure you do not have to sacrifice the quality of life. RetireReady Plus offers you additional income 3 for loss of independence 1 at any time during the selected income payout period, when you meet: Retirement age 50 years old 55 years old 60 years old 65 years old 70 years old Mode of Payment Cash Supplementary Retirement Scheme (SRS) Your capital is 100% guaranteed upon your selected retirement age. Any 2 out of 6 ADLs Additional 50% of your Guaranteed Monthly Income 4 OR At least 3 out of 6 ADLs Additional 100% of your Guaranteed Monthly Income 4 Activities of Daily Living (ADLs): Washing Dressing Transferring Mobility Toileting Feeding Desired guaranteed monthly income 4 (GMI) amount upon selected retirement age Non-guaranteed bonuses to boost your retirement income: Lump sum payout of accumulated Annual Bonus, or convert 5 to Additional Monthly Income Cash Bonus A selection of riders is available to further enhance your coverage.

9 Ron s RetireReady Plus: Ron, 30, plans to retire at 60. He would like to receive a Guaranteed Monthly Income of S$500 monthly for 15 years. He pays S$ per month for 15 years. Total Potential Retirement Income Benefits per month for 15 years S$ (S$500 + S$ S$202.91) Guaranteed Monthly Income 4 S$500 Total Potential Retirement Income Benefits Ron receives over 15 years, if Ron converts his accumulated annual bonus to additional monthly income: Total Potential Retirement Income Benefits Received (S$90,000 + S$14,913 + S$36,523.80) 333% of Total Premiums Paid Total Guaranteed Monthly Income 4 Received S$141, S$90,000 Non-Guaranteed Additional Monthly Income S$82.85 Total Additional Monthly Income Received S$14,913* Non-Guaranteed Cash Bonus S$ Total Cash Bonus Received S$36, Accumulation Period Income Payout Period Premiums of S$ per month, for 15 years Total Premiums Paid S$42, Ron s age Coverage for Loss of Independence (LOI) during his Income Payout Period *Ron s policy has accumulated S$13,465 in Annual Bonuses. Instead of withdrawing it as a lump sum, he has chosen to receive it as Additional Monthly Income of S$82.85/month. This will add up to a total of S$14,913. In life, plans can change anytime. I need the same flexibility in my retirement plans too. Retirement plans can change. Up to 2 years before the retirement age, Ron has the freedom to change 2 his income payout period according to his changing needs. He has the option to change 2 his Income Payout Period from 15 years to: 5 years, 10 years, 20 years, or Lifetime If Ron: He receives: Is unable to perform any 2 out of 6 Activities of Daily Living Additional 50% of his S$500 Guaranteed Monthly Income 4 S$250 LOI Income OR Is unable to perform at least 3 out of 6 Activities of Daily Living Additional 100% of his S$500 Guaranteed Monthly Income 4 S$500 LOI Income The values in the above illustration are based on illustrated investment rate of return of 4.75% p.a. Based on an illustrated investment rate of return of 3.25% p.a., the values are: Non-guaranteed Additional Monthly Income = S$8.26 Non-guaranteed Cash Bonus = S$39.95 Monthly Retirement Income Benefit = S$500 + S$ S$39.95 = S$ Total Potential Retirement Benefits Received over 15 years = S$98,677.80

10 Product Footnotes 1. Please refer to the product summary and policy contract for more details. 2. Subject to approval. Conditions may change from time to time, and the request has to be submitted at least 2 years before the selected retirement age. Please refer to the product summary for more information. 3. For any 2 out of 6 ADLs, the LOI income benefit payable is equivalent to 50% of the GMI, capped at a maximum of S$2,000 per month per policy. For at least 3 out of 6 ADLs, the LOI income benefit payable is equivalent to 100% of the GMI, capped at a maximum of S$4,000 per month per policy. 4. The Guaranteed Monthly Income (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. For a single-life policy, the life insured will also be the policy owner. 5. A conversion factor will be used to convert the accumulated annual bonus into AMI and Manulife will decide on the conversion factor to use. Important Notes: RetireReady Plus and its riders are underwritten by Manulife (Singapore) Pte. Ltd. (Reg. No D). Applicable terms and conditions as well as payout limits apply. Please see the product summary and policy contract on RetireReady Plus for more details. 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 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. We recommend that you seek advice from a Manulife Financial Consultant before making a commitment to purchase a policy. If there are any differences between the English and Chinese versions of this brochure, the English version will apply. Information is correct as of 24 June Be ready to retire on your own terms. We re happy to help Speak to your Manulife Financial Consultant (65) manulife.com.sg/retirereadyplus Enjoy $50 premium cashback every 6 months when you hit 10,000 steps daily. Find out how at manulifemove.sg