Endowment

Manulife GrowSecure: Building Your Future with Confidence

In today's uncertain economic climate, planning for your future requires a delicate balance between growing your wealth and protecting your loved ones. If you're looking for an insurance plan that offers both financial growth and comprehensive protection , Manulife GrowSecure might be the solution you've been searching for. Let's dive deep into what this plan offers and how it can help secure your financial future.

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What is Manulife GrowSecure?

Manulife GrowSecure is a unique insurance plan designed to build your funds while providing protection for you and your loved ones. It's an ideal choice for those who want to secure their financial future without compromising on protection. The plan offers capital guarantee at policy maturity, waiver of future premiums upon total and permanent disability diagnosis, and accidental death coverage .

Key Features of Manulife GrowSecure

Capital Guaranteed at Policy Maturity

Get 100% of your capital returned upon policy maturity . Provides peace of mind knowing your initial investment is secure.

Flexible Premium and Policy Terms

Choose from 3 premium payment terms: 5, 8, or 10 years. Select from 2 policy terms: 16 or 18 years. Tailor the plan to fit your financial goals and budget.

Premium Freeze Option

Put your premium payments on hold during times of financial need . Your policy continues to provide coverage during this period. Available after 2 policy years with 2 full annual premium payments.

Comprehensive Coverage

Protection against death and terminal illness. Additional payout of 50% of total premiums paid in case of accidental death before age 80. Waiver of future premiums upon Total and Permanent Disability (TPD) diagnosis.

Easy Application Process

Guaranteed acceptance with no health questions asked . No medical check-up required.

Change of Life Insured Option

Flexibility to change the life insured during the policy term. Available for both corporate and individual policies. Can be done up to 2 times for individual policies and unlimited times for corporate policies.

Real premiums suggested for Manulife GrowSecure

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How Manulife GrowSecure Works

Death Benefit and Terminal Illness Coverage

From the moment your policy is issued, you're covered against death and terminal illness. This provides financial protection for your loved ones in case of unforeseen circumstances.

Accidental Death Benefit

If accidental death occurs before the age of 80, your beneficiaries will receive an additional payout of 50% of the total premiums paid to date.

Waiver of Premium Upon Total and Permanent Disability

If you're diagnosed with Total and Permanent Disability during the premium payment term or before age 70, your future premiums will be waived .

Premium Freeze Option

After two policy years, you have the flexibility to pause your premium payments if needed. This feature can be invaluable during times of financial stress.

Change of Life Insured

After two policy years, you can change the life insured. This flexibility is particularly useful for business owners or those who want to transfer the policy benefits to another family member.

Maturity Benefit

At the end of your chosen policy term (16 or 18 years), you'll receive your maturity benefit. This includes your guaranteed capital plus any non-guaranteed returns .

Real-Life Example: How Manulife GrowSecure Can Help

Let's consider the case of Alex, a 32-year-old professional:

  • Alex purchases a Manulife GrowSecure plan with a monthly premium of S$400
  • He chooses a premium payment term of 10 years
  • His policy term is 18 years, maturing when he's 50
  • Alex plans to use the maturity benefit for a housing upgrade

Here's how Alex's plan could potentially grow:

  • Total premiums paid over 10 years: S$48,000
  • Potential Maturity Value at age 50:
  • Guaranteed: S$48,426
  • Non-Guaranteed: S$22,729
  • Total Potential Maturity Value: S$71,155

This example illustrates how Manulife GrowSecure can help you grow your funds while providing protection. Alex not only gets his capital back but also potentially earns additional returns.

Pros and Cons of Manulife GrowSecure

Pros

  • Capital guarantee at maturity

  • Flexible premium and policy terms

  • Comprehensive coverage including accidental death benefit

  • Premium freeze option for financial flexibility

  • Easy application with no health check-up

  • Option to change life insured

Cons

  • Limited policy terms (16 or 18 years only)

  • Returns may be lower compared to some investment products

  • Premiums are not guaranteed and may be adjusted

Who Should Consider Manulife GrowSecure?

This plan could be suitable for:

  1. Young professionals looking to start their financial planning journey
  1. Parents wanting to save for their children's future
  1. Business owners seeking flexible insurance solutions
  1. Individuals looking for a low-risk savings plan with insurance protection

Important Considerations

Before purchasing Manulife GrowSecure, keep in mind:

  1. This is a long-term commitment. Early termination may result in high costs.
  1. The surrender value may be less than the total premiums paid if you terminate early.
  1. While the capital is guaranteed at maturity, any additional returns are not guaranteed.
  1. The policy is protected under the Policy Owners' Protection Scheme administered by the Singapore Deposit Insurance Corporation (SDIC).

Frequently Asked Questions

Can I change my premium payment term after purchasing the policy?

It's best to check with Manulife directly about the flexibility in changing terms after purchase.

What happens if I can't pay my premiums?

After two policy years, you can use the premium freeze option to pause payments temporarily.

Is the change of life insured option available immediately?

This option becomes available after two policy years.

Are the returns guaranteed?

The capital is guaranteed at maturity, but any additional returns are not guaranteed.

What is the minimum premium for this plan?

Contact a Manulife Financial Consultant for the most up-to-date information on minimum premiums.

Conclusion

Manulife GrowSecure offers a balanced approach to growing your wealth while providing essential insurance protection . Its unique features like capital guarantee, premium freeze option, and the ability to change the life insured make it a flexible choice for various financial planning needs. However, as with any financial product, it's crucial to consider your specific circumstances and long-term goals before making a decision.

Remember, the best financial plan is one that aligns with your personal needs and objectives. While Manulife GrowSecure offers attractive features, it's always wise to compare it with other options and seek professional advice.

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 savings and protection plans . 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 plan for your financial future. Don't leave your financial security to chance – get the expert advice you deserve today.

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