Introduction
In today's uncertain world, having a financial safety net is more important than ever. Enter ManuRegular Payout Plus, an innovative endowment plan designed to provide both savings and protection. This unique product offers the flexibility to receive guaranteed cash benefits annually, which you can either withdraw to meet your immediate needs or reinvest to accumulate interest. With ManuRegular Payout Plus, you gain the freedom to plan your finances according to your personal goals and circumstances, all while enjoying peace of mind through life coverage.
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Type of Endowment Plan
ManuRegular Payout Plus is a participating regular premium endowment plan. This means that policyholders pay premiums at regular intervals throughout the policy term and have the potential to receive both guaranteed and non-guaranteed benefits. As a participating plan, it allows policyholders to share in the performance of Manulife's participating fund through non-guaranteed bonuses. The regular premium structure provides discipline in savings, while the participating nature offers the opportunity for potentially higher returns. However, it's important to note that non-guaranteed benefits are subject to the performance of the participating fund and are not guaranteed.
Coverage Customization
ManuRegular Payout Plus offers a range of coverage options to suit different financial needs and goals. From guaranteed maturity benefits to potential non-guaranteed returns, this plan provides flexibility and potential growth for your savings. Let's explore the key aspects of coverage customization available with this product.
Guaranteed Maturity Benefit
Secure Future Payout. At policy maturity, you receive a guaranteed benefit. For example, in the illustration provided, the guaranteed maturity benefit is S$22,800 for a sum insured of S$30,000.
Non-guaranteed Bonuses
Potential for Growth. The plan offers non-guaranteed bonuses that can enhance your returns. In the example given, the non-guaranteed portion of the maturity benefit is S$12,575.
Historical Performance
Past Returns. While historical performance is not explicitly stated, the illustration uses projected returns of 4.75% p.a. and 3.25% p.a. to demonstrate potential outcomes.
Factors Affecting Returns
Investment Performance. Non-guaranteed returns are influenced by the performance of Manulife's participating fund. The actual returns may vary based on market conditions and fund management.
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Riders and Additional Benefits
ManuRegular Payout Plus offers a range of additional benefits and riders to enhance your coverage and tailor the policy to your specific needs. These options allow you to customize your protection and potentially increase the value of your policy. Let's explore the key additional benefits available with this product.
Guaranteed Cash Benefit
Annual Payouts. Receive a guaranteed cash benefit yearly, increasing from 2% to 10% of your sum insured over the policy term.
Death and Terminal Illness
Basic Protection. The policy provides coverage against death and terminal illness throughout the policy term.
Premium Waiver
Disability Protection. Future premiums are waived if you suffer total and permanent disability during the premium payment term.
Optional Riders
Enhanced Coverage. Add riders for critical illness, additional death benefit, or total and permanent disability protection.
Surrender Value and Partial Withdrawals
Understanding the surrender value and partial withdrawal options of your ManuRegular Payout Plus policy is crucial for effective financial planning. These features provide flexibility in accessing your funds if needed, but it's important to be aware of any associated charges or limitations. Let's explore the key aspects of surrender value and partial withdrawals for this product.
Surrender Value Calculation
Policy Worth. The surrender value is calculated based on the premiums paid, guaranteed cash benefits, and any accumulated non-guaranteed bonuses. Early surrender may result in a value less than total premiums paid.
Partial Withdrawal Options
Flexible Access. While specific details aren't provided, policyholders typically have the option to withdraw accumulated cash benefits. The guaranteed cash benefit can be withdrawn annually or left to accumulate at a non-guaranteed rate of 3% p.a.
Surrender Charges
Early Termination Costs. The policy warns of potentially high costs for early termination. Specific surrender charge details are not provided in the given information but would be available in the full policy contract.
Claims and Customer Service
Manulife Singapore is committed to providing excellent customer service and a smooth claims process for ManuRegular Payout Plus policyholders. While specific details about the claims process are not provided in the given information, Manulife typically offers multiple channels for filing claims and seeking support. These may include online portals, phone support, and in-person assistance at their offices. For the most up-to-date information on filing claims or to get customer support, policyholders are advised to visit Manulife's official website at manulife.com.sg or call their customer service hotline at 65 6833 8188.
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Conclusion
ManuRegular Payout Plus offers a versatile solution for individuals seeking a balance between savings and protection. This plan is particularly well-suited for those looking to build a disciplined savings habit while enjoying regular cash benefits. It can be an excellent choice for young professionals planning for future milestones, parents saving for their children's education, or individuals preparing for a comfortable retirement. The flexibility in premium and policy terms, coupled with the option to customize coverage through riders, makes it adaptable to various financial situations and goals.
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