Introduction
In today's uncertain world, protecting your loved ones' financial future is paramount. Term life insurance offers an affordable way to provide that security. Manulife's ManuProtect Term (II) stands out as a flexible and comprehensive term life insurance solution. This plan offers customizable coverage terms, guaranteed renewability, and the option to add riders for enhanced protection. Whether you're looking to safeguard your family's lifestyle or ensure your debts are covered, ManuProtect Term (II) provides a solid foundation for your financial planning needs.
Coverage and Benefits
ManuProtect Term (II) offers a range of coverage options and benefits to suit your individual needs. From basic death and terminal illness protection to optional riders for critical illness and disability, this plan can be tailored to provide comprehensive coverage. Let's explore the key features and benefits of ManuProtect Term (II).
Death Benefit
Full Sum Assured Payout. Upon the life insured's death, the policy pays out the full sum assured as a lump sum to the beneficiaries. The minimum sum assured is S$75,000.
No Cash Value
Pure Protection Plan. ManuProtect Term (II) is a pure protection plan with no cash value accumulation or non-guaranteed bonuses.
Terminal Illness Benefit
Accelerated Payout. If diagnosed with a terminal illness expected to result in death within 12 months, the full sum assured is paid out as an acceleration of the death benefit.
Total and Permanent Disability
Optional TPD Coverage. The Total and Permanent Disability Plus (II) rider can be added to provide TPD coverage up to age 85, with a maximum payout of S$5,000,000 across all policies.
Critical Illness Coverage
Optional CI Protection. The Critical Care Enhancer (II) rider offers coverage for 36 critical illnesses, with a maximum payout of S$2,000,000 across all policies for CI and terminal illness claims combined.
Policy Terms and Features
ManuProtect Term (II) offers flexibility in policy terms and features to accommodate various protection needs and life stages. From customizable coverage periods to guaranteed renewability and conversion options, this plan adapts to your changing circumstances. Let's examine the key policy terms and features of ManuProtect Term (II).
Flexible Entry Ages
Wide Age Range. While specific entry age limits are not provided in the given information, term life insurance typically allows for a broad range of entry ages to accommodate various life stages.
Customizable Policy Terms
Multiple Options. Choose from 5 or 10-year renewable terms, 11 to 40-year level terms, or coverage up to age 65, 75, or 85. This flexibility allows you to align your coverage with your specific needs and financial goals.
Guaranteed Renewability
Automatic Renewal. 5 and 10-year term policies are automatically renewed at the end of each term, regardless of health changes, up to age 85. Premiums are adjusted based on age at renewal.
Conversion Privilege
Future Flexibility. Convert your policy, partially or fully, to another Manulife regular premium life insurance plan before the policy anniversary following your 65th birthday, without medical underwriting.
Level Premiums
Predictable Costs. For level term policies, premiums remain constant throughout the chosen policy term, providing financial predictability and easier budgeting.
Riders
ManuProtect Term (II) offers a selection of riders to enhance your coverage and provide additional financial protection. These optional add-ons allow you to customize your policy to address specific concerns such as disability, critical illness, and premium waivers. Let's explore the available riders and their key features.
TPD Plus (II)
Disability Protection. This rider provides coverage for total and permanent disability up to age 85, with a maximum payout of S$5,000,000 across all policies. It offers an accelerated payout of the death benefit upon TPD diagnosis.
Critical Care Enhancer (II)
CI Coverage. Covers 36 critical illnesses with a maximum payout of S$2,000,000 across all policies for CI and terminal illness claims combined. It also includes a Serious Illness of a Child Benefit, providing up to S$10,000 per child per policy.
Critical Care Waiver
Premium Waiver. Upon diagnosis of a covered critical illness, this rider waives future premiums, ensuring continued coverage without financial burden during challenging times.
Early Critical Care Waiver
Early-Stage CI Waiver. This rider waives premiums upon diagnosis of a covered critical illness at any stage, providing additional financial relief for early-stage conditions.
Claims and Customer Service
While we are not Manulife, we understand the importance of efficient claims processing and responsive customer service. Manulife typically provides multiple channels for filing claims, including online portals, email, and phone support. Customers can usually access claim forms and submission guidelines on the company's website. For specific inquiries or assistance with claims, it's best to contact Manulife's customer service directly. They should be able to guide you through the claims process, provide updates on claim status, and address any policy-related questions. Remember to have your policy number and relevant documentation ready when reaching out for support.
Conclusion
ManuProtect Term (II) offers a versatile term life insurance solution that can benefit various types of customers. It's particularly well-suited for individuals seeking flexible coverage terms, such as young professionals or growing families who want the option to adjust their protection as their needs evolve. The plan's guaranteed renewability feature makes it attractive for those who prioritize long-term insurability. Additionally, smokers looking to quit can take advantage of the Quit Smoking Incentive, potentially saving on premiums in the long run.
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