Manulife IncomeSecure – Go or No Go?
Have you recently come across the Manulife IncomeSecure plan in one of the bank or from one of your agent? It promises a lifetime monthly income with the added benefit of capital guaranteed for withdrawal anytime after the fifth year.
Are you looking to compare Manulife IncomeSecure with its competitors and find out if there are better deals available? You’re in the right place! Let Interestguru.sg assist you with your comparison today!
What I should know about Manulife IncomeSecure?
Let’s simplify things and provide you with a summary of what you need to know about Manulife IncomeSecure.
- Pays you an annual income till age 120 from end of policy year 3 (for 5 year premium term)
- Option to change life insured to your loved ones for policy continuity
- Premium term choices: 5 or 10 years
- You can choose to accumulate the income into the plan at a non-guaranteed interest rate of 3% p.a.
Read more: An in-depth review of Manulife IncomeSecure
Sample Illustration of Manulife IncomeSecure
Let’s go into a scenario of Mark, Age 35, considering Manulife IncomeSecure of a premium term of 5 years, premium amount of $24,000 per annum.
To summarise the above scenario:
- Pays a Guaranteed Income of $960/year from end of year 3
- Pays a Projected Income of $2400/year from end of year 3 to end of year 8
- Capital Guaranteed on end of year 8
- Pays a Step-up Projected Income of $3600/year from end of year 9
- Total premiums paid: $120,000
- Total Projected Yield if the plan is kept till age 80: $268,000
What are the plans that are similar to Manulife IncomeSecure?
Income-paying plans in the market tend to be quite similar. At Interestguru.sg, we compare these plans for you by examining their premiums and yields.
Similar plans that works like Manulife IncomeSecure includes but not limited to:
- Singlife Flexi Life Income II
- FWD Lifeincome Plus
- China Taiping Infinite Harvest Plus
- China Life Lifetime Income Plan
- NTUC Income Gro Cash Plus
- NTUC Income Gro Cash Sure
- NTUC Income Luxe Plus Solitaire
Click on each plan to view an in-depth product review by Interestguru.sg!
Sample illustration of a competitor – Singlife Flexi Life Income II
One of the most popular income paying plan in the market, let’s take a look at how different the features and numbers will be for Singlife Flexi Life Income II.
Let’s go into the SAME scenario of Mark, Age 35, considering Manulife IncomeSecure of a premium term of 5 years, premium amount of $24,000 per annum.
To summarise the above scenario,
- Pays a Guaranteed Income of $1540/year from end of year 5
- Pays a Projected Income of $3640/year from end of year 5 to age 120
- Capital Guaranteed on end of year 5
- Total premiums paid: $120,000
- Total Projected Yield if the plan is kept till age 80: $288,000
After looking at both plans, Singlife Flexi Life Income II is a much straightforward, fuss free and easy to understand plan, as compare to Manulife IncomeSecure.
Side by Side Comparison of Manulife IncomeSecure and Singlife Flexi Income II
Simlar plans, same premium tenure and amount, yielding different Guaranteed Yearly Income and Surrender Value from Manulife IncomeSecure and Singlife Flexi Life Income II.
At Interestguru.sg, our advisors try as much to compare similar plans with the same parameters to make sure the comparison is fair to all insurers. As per the table below, Interestguru.sg have place important numbers from Manulife IncomeSecure and Singlife Flexi Income II side by side for your comaprison sake.
How can I compare Manulife IncomeSecure with other similar plans?
As highlighted above, there are at least 7 plans available in the market that are comparable to Manulife IncomeSecure, with even more options beyond this list.
How do you begin comparing options or determine if the Manulife IncomeSecure plan introduced to you is suitable for your needs? Don’t worry! Leave it to us—we’re experts at what we do.
Simply fill out the form below, and one of our advisors will reach out to help you compare plans as soon as possible. At Interestguru.sg, comparison is our specialty. Share your criteria with us, and we’ll find the most suitable plan for your needs.
Too much of a trouble to fill in the form above? Need help immediately? Whatsapp us and we will respond to your queries as soon as possible!
Disclaimer: This is not a sponsered post by Manulife or Singlife. The information provided on this page is for general informational purposes only. All information on the site is provided in good faith; however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on this page.
