Have you ever wished for a savings plan that gives you regular payouts while still growing your money? If so, Manulife's ReadyPayout Plus might be just what you're looking for. This unique endowment plan offers a blend of guaranteed cash benefits, potential growth, and insurance protection . Let's dive deep into what ReadyPayout Plus offers and how it can help you achieve your financial goals.
Find the right coverage in minutes
Use our advanced calculator to get personalized insurance recommendations
Get precise coverage recommendations based on your needs
Receive instant results without lengthy consultations
Get tailored recommendations based on your unique situation
ReadyPayout Plus is an endowment plan designed to provide you with regular guaranteed cash benefits while also offering insurance coverage . It's like having a savings account that pays you every year, with the added benefit of life insurance protection. This plan is ideal for those who want to save for specific goals while maintaining financial flexibility.
Receive a guaranteed cash benefit every year. The payout increases from 2% to 10% of your sum insured over the policy term.
Choose a premium payment term of 10, 15, or 20 years. Select a policy term of 13, 15, or 20 years.
Protection against death and terminal illness.
You can choose to withdraw your annual payouts or let them accumulate at a non-guaranteed interest rate of 3% per annum.
If you suffer total and permanent disability during the premium payment term, your future premiums will be waived.
Guaranteed acceptance with no health questions asked.
Enhance your protection with riders for critical illness, death, or total and permanent disability.
Total Benefits:
This means Peggy receives 132% of her total premiums paid (S$42,520)!
Bonus: If Peggy chooses to accumulate her yearly guaranteed cash benefits at the non-guaranteed interest rate of 3% per annum, she could receive an additional S$3,594.
Peggy receives a guaranteed cash benefit of S$600 yearly (2% of sum insured)
The guaranteed cash benefit increases to S$1,200 yearly (4% of sum insured). Peggy finishes paying her premiums at the end of Year 10.
The guaranteed cash benefit increases to S$3,000 yearly (10% of sum insured)
Peggy receives a total maturity benefit of S$35,375 (Guaranteed: S$22,800, Non-guaranteed: S$12,575)
It's important to note that the non-guaranteed benefits are based on an illustrated investment rate of return of 4.75% per annum. If the investment rate of return is lower at 3.25% per annum:
Guaranteed annual payouts that increase over time
Flexibility in premium payment and policy terms
No health check-up required for application
Option to accumulate payouts at a potentially attractive interest rate
Insurance coverage included
Premium waiver benefit in case of total and permanent disability
Long-term commitment required
Non-guaranteed benefits depend on investment performance
May not provide as high returns as some other investment options
Young adults starting to save for future goals
Parents saving for their children's education
Individuals looking for a regular income stream in the future
Those who want a savings plan with built-in life insurance
People who prefer guaranteed returns with some potential for higher gains
There's typically a free-look period (usually 14 days) during which you can cancel the policy for a full refund.
Early surrender may result in significant costs, and you may receive less than the total premiums paid.
In Singapore, life insurance proceeds are generally not taxable. However, it's best to consult a tax advisor for your specific situation.
You may be able to add riders to increase your coverage. Speak with a Manulife Financial Consultant for options.
There's usually a grace period for premium payments. If you miss payments beyond this period, your policy may lapse.
As a nice bonus, Manulife offers a program called Manulife MOVE. With this program, you can earn S$50 cashback every 6 months when you hit an average of 10,000 steps daily . This encourages you to stay healthy while saving money!
Before deciding on ReadyPayout Plus, consider:
Manulife ReadyPayout Plus offers a unique combination of guaranteed payouts, potential for growth, and insurance protection . It's designed for those who want the security of regular cash benefits along with the possibility of higher returns. However, like any financial product, it's important to carefully consider your personal circumstances and long-term goals before making a decision.
Remember, while the guaranteed benefits provide a safety net, the non-guaranteed portions depend on investment performance. It's always wise to plan for different scenarios and not rely solely on the illustrated figures.
Ready to explore if ReadyPayout Plus is right for you? Don't just take our word for it. Get personalized advice from multiple experts to ensure you're making the best decision for your financial future.
By consulting with multiple financial advisors, you'll gain a comprehensive understanding of how ReadyPayout Plus fits into your overall financial strategy. Make an informed decision and take the next step towards a more secure financial future today!
By filling this out, you agree to allow us to contact you about insurance related information.
Compare other endowment options to find the best coverage for your needs
Manulife GrowSecure offers a unique blend of growth potential and security for your financial future. With its standout feature of 100% capital guarantee at maturity, you can invest with confidence knowing your principal is protected. This innovative product not only secures your future but also allows you to safeguard your parents' financial well-being, making it a comprehensive solution for multi-generational planning.
Manulife ReadyBuilder15 offers a unique opportunity to secure your future and support your parents with impressive potential returns. With the possibility of up to 6.93x returns by age 85, this product stands out in the realm of long-term financial planning. Discover how Manulife ReadyBuilder15 can help you build a robust financial foundation for yourself and your loved ones.
SavvyEndowment 15 offers a unique approach to securing your financial future. With an impressive 103.12% guaranteed maturity benefit, this product not only protects your investment but also provides potential for wealth growth. This innovative endowment plan stands out by offering both security and growth potential, making it an intriguing option for those looking to safeguard their financial future.
AIA Retirement Saver (IV) offers a flexible approach to securing your financial future. With its customizable coverage options, you can tailor your retirement plan to perfectly align with your unique needs and goals. This personalized touch allows you to create a retirement strategy that's as individual as you are, ensuring you're well-prepared for the years ahead.
AIA Smart Flexi Growth offers a unique approach to savings and investment. This innovative plan not only provides life protection but also presents the potential for higher returns through non-guaranteed bonuses, allowing your savings to potentially grow faster. With its flexible features and growth potential, AIA Smart Flexi Growth could be an intriguing option for those looking to maximize their financial future.
AIA Smart Flexi Rewards (II) offers a unique approach to securing your future and that of your parents. With guaranteed yearly coupons starting from the second policy year, this plan provides a reliable stream of income to support your financial goals. Discover how this innovative product can help you build a stronger financial foundation for generations to come.
AIA Smart Goal 10 offers a unique combination of guaranteed returns and potential bonuses, making it an intriguing option for those looking to grow their savings. This innovative product not only provides a secure foundation for your financial goals but also the exciting possibility of additional rewards. Discover how AIA Smart Goal 10 could potentially boost your savings beyond the guaranteed returns, offering a dynamic approach to achieving your financial objectives.
AIA Smart Rewards Saver 2 is a long-term savings plan designed with young adults in mind, offering a unique blend of growth potential and guaranteed returns. One of its standout features is the 5% guaranteed annual coupons starting from the second year, providing a reliable income stream while your savings continue to grow. This innovative product combines financial security with flexibility, making it an attractive option for those looking to build a solid financial foundation for their future.
Explore more: Real customer experiences • Insurance guides • Coverage calculator
Learn about Endowment insurance basics or compare Endowment policies