Term Life

ManuProtect Term (II): Flexible Protection for Your Loved Ones

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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What is ManuProtect Term (II)?

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.

Key Features of ManuProtect Term (II)

Flexible Policy Terms

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).

Comprehensive Coverage

Protection against death and terminal illness

Guaranteed Renewal

For 5 or 10-year terms, your policy is automatically renewable up to age 85, regardless of your health condition.

Conversion Privilege

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.

Quit Smoking Incentive

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.

Optional Add-Ons

Enhance your protection with riders for total and permanent disability, critical illness, and premium waiver.

Real premiums suggested for ManuProtect Term (II)

37, Female making $5,000 a month

Coverage:
tpd
$500,000
death
$500,000
critical illness:
advanced stage
$200,000
terminal illness
$500,000
Premium:
$2,682.35
Read More

28, Male making $9,000 a month

Coverage:
death terminal illness
$1,010,000
total permanent disability
$1,010,000
Premium:
$163.77
Read More
Get your own quotes →

Understanding the Coverage

Death Benefit

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.

Terminal Illness Benefit

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.

Guaranteed Renewability

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.

Conversion Privilege

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.

Optional Riders: Enhancing Your Protection

Total and Permanent Disability Plus Rider (II) (TPD Plus (II))

Provides a lump sum payout if you become totally and permanently disabled. Helps cover the loss of income and potential long-term care costs.

Critical Care Enhancer Rider (II) (CCE (II))

Offers financial protection against critical illnesses. Pays out a lump sum upon diagnosis of covered critical illnesses.

Early Critical Care Waiver Rider (ECCW)

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.

Real-Life Example: How ManuProtect Term (II) Works

Let's look at a practical example to understand how this plan can protect you and your family:

Meet Travis:

  • Age: 40
  • Non-smoker
  • Wants to protect his family from income loss in case of his death, terminal illness, total and permanent disability, and critical illness

Travis chooses the following coverage:

  1. ManuProtect Term (II) (Level and Convertible)
  • Term: 25 years
  • Coverage: S$1,000,000
  • Annual Premium: S$1,029.00
  1. Total and Permanent Disability Plus Rider (II)
  • Coverage: S$1,000,000
  • Annual Premium: S$115.00
  1. Critical Care Enhancer Rider (II)
  • Coverage: S$500,000
  • Annual Premium: S$1,494.50
  1. Early Critical Care Waiver Rider
  • Annual Premium: S$230.11

Total Annual Premium: S$2,868.61

Why Compare ManuProtect Term (II) with other Term Life Options through Whatins?

Traditional Approach

  • Limited term length options from one insurer
  • May push longer terms than needed

Whatins Advantage

  • Compare term lengths across multiple insurers
  • See how different term life insurance periods affect premiums
  • Understand renewal options across insurers
  • See competing term length justifications and determine which one is best for you

Pros and Cons of ManuProtect Term (II)

Pros

  • 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

Cons

  • 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

Frequently Asked Questions

Can I change my coverage amount later?

You may be able to increase or decrease your coverage, subject to underwriting and terms and conditions. Consult your financial advisor for specifics.

What happens if I miss a premium payment?

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.

Is there a medical examination required?

This depends on your age, the coverage amount, and your health history. For some applicants, a medical exam may be required.

Can I cancel the policy if I no longer need it?

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.

Are the premiums fixed throughout the policy term?

For level term policies, premiums are typically fixed for the chosen term. For renewable policies, premiums may increase at renewal based on your age.

Conclusion

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.

Get Expert 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 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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Why people were suggested ManuProtect Term (II)

Siti
Siti, 37
GenderFemale
Monthly Income$5,000
Insurance Types Suggested
  • Disability
  • Personal Accident
  • Critical Illness
Why ManuProtect Term (II) was suggested:
The ManuProtect Term (II) plan from Manulife is another term insurance option that provides coverage for death, TPD, terminal illness, and advanced stage critical illness up to age 75. While it does not cover early and intermediate critical illness stages, the plan offers competitive premiums and comprehensive protection for Siti's core insurance needs.
Stephen Ng
Stephen Ng, 28
GenderMale
Monthly Income$9,000
Insurance Types Suggested
  • Critical Illness
  • Term Life
  • Whole Life
Why ManuProtect Term (II) was suggested:
This term life product was recommended as an alternative to address the prospect's priority for term life coverage. It provides substantial protection against death, terminal illness, and TPD until age 85, which aligns with the average life expectancy of Singaporean males. The coverage amount matches the shortfall identified in the prospect's existing coverage.
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