How does Manulife's LifeReady Plus II compares against Singlife Wholelife Plan

Hi Ronald,

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There's a few key differences. My analysis assumes you're adding both the CI and early CI rider, else there is very little reason for you to get a life plan for death/TPD only.

1. Scope of coverage Singlife covers 131 conditions over 59 CIs, 16 special conditions and has a ICU payout and a payout if you are diagnosed with any benign and borderline malignant tumour from a list of 22. Manulife covers 125 conditions over 55 CIs and has coverage for 10 special conditions.
2. Multiplier Singlife allows age 65/70/75. Manulife has age 70/80.
3. Payout structure Singlife pays bonuses on top of multiplier. Manulife pays the higher of sum assured+bonus, or the multiplier amount

If I had to make a call, I'd take Singlife personally because if I'm going to get CI coverage, I'd prefer a forward looking plan covering me for as many things as possible. This is of course assuming that the premiums (assuming they are pretty close) is not the main consideration. In fact it shouldn't be. CI plans are one of those things where it isn't about the cheapest plan, but the plan that gives you the best value for what you are paying.

1. Manulife's LifeReady Plus II:It is a life insurance plan that offers both protection and savings components.
   It provides coverage for death, total and permanent disability, and critical illness.
   The plan allows for flexible premium payment terms.
   It offers the option to add supplementary benefits such as early critical illness coverage.
   It may provide cash value accumulation over time, depending on the performance of the underlying investments.

2. Singlife Wholelife Plan:It is a participating whole life insurance plan.
   It offers coverage for death, terminal illness, and total and permanent disability.
   The plan provides guaranteed cash values and potential bonuses as it participates in the insurer's profits.
   It offers the flexibility to customize the policy according to your needs, such as adding riders for additional coverage.
   Singlife provides a mobile app for policy management and claims.

When deciding between the two plans, it's important to consider factors such as your financial goals, risk tolerance, budget, and specific coverage needs. It can be helpful to compare the policy features, premiums, cash value accumulation potential, flexibility in premium payments, and the reputation and financial stability of the insurance companies offering the plans.

Additionally, it's advisable to consult with a licensed financial advisor or insurance agent who can assess your personal circumstances and provide tailored advice based on your individual needs and objectives.