In today's uncertain world, ensuring your family's financial security is more important than ever. Did you know that in Singapore, about 1 in 3 families would struggle financially if the primary breadwinner were to pass away unexpectedly? This sobering statistic highlights the crucial role of life insurance in protecting our loved ones. If you're looking for a flexible and comprehensive term life insurance plan, ManuProtect Term (II) might be the solution you've been searching for.
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ManuProtect Term (II) is a regular premium term life insurance plan offered by Manulife Singapore. It's designed to provide financial protection for your loved ones in the event of your death or diagnosis of a terminal illness . What sets this plan apart is its flexibility, allowing you to tailor the coverage to your specific needs and budget.
Choose from various coverage periods: 5 or 10 years (renewable and convertible), 11 to 40 years (level and convertible), or coverage up to age 65, 75, or 85 (level and convertible).
Protection against death and terminal illness
For 5 or 10-year terms, your policy is automatically renewable up to age 85, regardless of your health condition.
While your policy is in force, you have the freedom to convert it to another life insurance product from Manulife's range of curated offerings.
Smokers enjoy lower non-smoker premium rates for the first 3 policy years and can continue to enjoy these rates if they quit smoking within this period.
Enhance your protection with riders for total and permanent disability, critical illness, and premium waiver.
If you pass away while the policy is in force, your beneficiaries will receive the sum assured as a lump sum payment. This can help replace lost income and ensure your family's financial stability.
If you're diagnosed with a terminal illness (with a life expectancy of 12 months or less), the policy will pay out the sum assured. This can help cover medical expenses and provide financial support during a difficult time.
For 5 or 10-year terms, this feature ensures that you can maintain coverage even if your health deteriorates. It provides peace of mind knowing that you won't be left unprotected when you need it most.
As your life circumstances change, your insurance needs may evolve. This feature allows you to switch to a different Manulife policy without undergoing medical underwriting, giving you flexibility for the future.
Provides a lump sum payout if you become totally and permanently disabled. Helps cover the loss of income and potential long-term care costs.
Offers financial protection against critical illnesses. Pays out a lump sum upon diagnosis of covered critical illnesses.
Waives future premiums if you're diagnosed with an early-stage critical illness. Ensures your coverage continues even if you're unable to pay premiums due to illness.
Let's look at a practical example to understand how this plan can protect you and your family:
Meet Travis:
Travis chooses the following coverage:
Total Annual Premium: S$2,868.61
Flexible policy terms to suit different needs and budgets
Guaranteed renewability for shorter-term policies
Conversion privilege for changing life circumstances
Quit smoking incentive to promote healthier lifestyle
Comprehensive optional riders for enhanced protection
No cash value accumulation (common for term life policies)
Premiums may increase upon renewal for shorter-term policies
Conversion limited to Manulife's product range
You may be able to increase or decrease your coverage, subject to underwriting and terms and conditions. Consult your financial advisor for specifics.
There's usually a grace period for premium payments. If you don't pay within this period, your policy may lapse. Some policies offer reinstatement options.
This depends on your age, the coverage amount, and your health history. For some applicants, a medical exam may be required.
Yes, you can cancel the policy at any time. However, term life insurance doesn't have a cash value, so you won't receive a refund of premiums paid.
For level term policies, premiums are typically fixed for the chosen term. For renewable policies, premiums may increase at renewal based on your age.
ManuProtect Term (II) offers a flexible and comprehensive solution for protecting your loved ones' financial future. With its range of policy terms, guaranteed renewability option, and valuable add-on riders, it can be tailored to meet your specific needs and budget. The plan's conversion privilege also provides the flexibility to adapt your coverage as your life circumstances change.
However, as with any financial decision, it's crucial to carefully consider your personal needs, budget, and long-term goals before committing to a policy. While ManuProtect Term (II) offers many attractive features, it's important to compare it with other options in the market and consider how it fits into your overall financial plan.
Remember, the best insurance policy is one that provides the right coverage for your unique situation and gives you peace of mind knowing your loved ones are protected.
Ready to explore your options further? Don't rely on just one perspective. Get expert insights tailored to your unique needs. Sign up now to receive 5 expert opinions on term life insurance. These professionals will review your specific situation and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best coverage for your family's future. Don't leave your loved ones' financial security to chance – get the expert advice you deserve today .
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Read the complete transcript of our expert discussion about ManuProtect Term (II). This detailed analysis covers key features, benefits, and important considerations for potential policyholders.
Welcome to the deep dive.
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