Manulife Life Insurance Reviews and Comparison - Seedly
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Manulife Life Insurance

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  • Reviews (2)
  • Questions (7)
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Reviews (2)

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recommend manulife

manulife ready

ready multipler

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  • Updated on 07 Jan 2020
    The agent is very responsive and provides us with frequent updates. He is extremely helpful and knowledgeable. A great company with excellent customer service.
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  • Posted on 19 Nov 2019
    I recommend ManuLife ready plus because of the 3x multipler benefit during your working years. Also, you can pay for a short 20/25 years for whole life. I like that it is relatively competitive in their prices compared to other companies.
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Questions (7)
Recent ActivityUnansweredTrending

Insurance

Manulife Life Insurance

Investments

Lifestyle

General

Term Life Insurance

Whole Life Insurance

Health Insurance

What do you guys think of LifeReady Plus by Manulife? Are the investment options good? In addition, if I know how to invest, would going for Term Life plan more worth than Whole Life plan?
Frankie Aufhauser-Rappaport
Frankie Aufhauser-Rappaport
Top Contributor

Top Contributor (May)

Level 9. God of Wisdom
Answered 2w ago
These difficult to understand products, rarely are a good alternative to passive ETF investing. take care ... https://seedly.sg/questions/what-is-your-general-investing-philosophy-strategy
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Insurance

Investments

Manulife Life Insurance

Whole Life Insurance

Term Life Insurance

Health Insurance

My insurance agent just approached me to get a life term insurance. Should I go for package that include investment or just the Term Product? Any advice?
You have to do your own opportunity cost and benefit analysis. i am currently paying for a term to 99 coverage of $1mil, but regreted slightly because if i did not, i would have more liquidity to play around with (especially if you can invest and get 5% returns annually and above). But that is better than a whole life plan simply because the coverage is important now (i have a child and housing loan). If you are buying an ILP, to diversify, i think thats a fallacy because you should diversify so that you reduce unsystematic risk (risk pertaining to a certain economy, sector etc), not diversify to products that invest in the same industry, companies, sector, country etc etc. Unless you are diversifying the money you would put into funds (you want to diversify your investment between different fund managers who manage and invest differently), then it may make sense.
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Insurance

Manulife Life Insurance

AIA

Hi, could you give me feedback and criticism on my current insurance plans. Am I spending too much or too little on these plans? Are my plans too expensive?
Insuance Portfolio Summary Firstly, one of the most important things to do is to have a complete understanding of your existing insurance portfolio. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies. Key Reasons Why: Why Every Client needs an Insurance Policy Summary How much insurance coverage should You have? As a general rule, 10% to 20% of your annual income on healthcare insurance and life insurance Basic Life Cover = 10 times your annual income = $420k Critical Illness Coverage = 5 times your annual income = $210k Possible things to look into Firstly, I noticed that the majority of your critical illness coverage drops after age 70. In fact, you will only be left with $30k coverage. In effect, this may be a point that you wish to look into. While getting yourself properly insured is important during your income working years, don't forget about it when you are likely to need it the most. Secondly, for life insurance coverage, we will need to know more about your background in order to plan and determine how much coverage you will need. More Details: 5 Reasons why You need Life Insurance By planning early, we avoid paying a higher premium in the future. However, we also need to take into account opportunity cost. Hence, we need to conduct comprehensive financial planning in order to make the optimal adjustment. Thirdly, for your integrated shield plan, may I check and confirm whether you have the rider? This is important to cover the cost of deductible and co-insurance. As for personal accident, I believe you do not need to wait for income to rise. Instead, it is more about understanding the need for it, or whether it is unnecessary. Overall, your situation looks fine on the surface. In order to give you specific advice, we will need to understand you. Thereafter, we can brainstorm together on how to plan for your future such that you will become confident about it in the long-term. I share quality content on estate planning and financial planning here.
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Insurance

Whole Life Insurance

NTUC Income Life Insurance

Manulife Life Insurance

Critical Illness (CI)

Early Critical Illness (ECI)

What are the differences between NTUC's VivoLife350 and Manulife LifeReady Plus (3X Multiplier)?
Hi Lai Wah, Firstly, the options for the multiplier amounts differ, as you may have guessed from the plan name, VivoLife's multiplier is 3.5 times that of the basic sum assured. Other options include 1.2 times and 1.8 times. Manulife offers 1,2,3,4,5 times of the basic sum assured. By adding the riders, you will get early critical coverage. Vivolife itself already has 40 late stage CI coverage build into the main plan and hence you won't need to add any rider for late stage CI, only early stage CI require the Early Protect Accelerator. For LifeReady Plus, the Early Critical Care Rider covers early, intermediate and late stage CI. The main plan itself does not have any CI coverage, only death and TPD. I'd recommend that you consider all options on the table as other insurers can be also very competitive both on coverage and on pricing, before you commit to a policy. Contact an Independent Financial Advisor if you wish to get a list of options available to you for early CI cover.
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Insurance

Manulife Life Insurance

Early Critical Illness (ECI)

Critical Illness (CI)

Whole Life Insurance

Manulife LifeReady vs Manulife LifeReady Plus?
Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Answered on 29 Dec 2019
Lifeready is no longer available. New applications are all on lifeready plus now. There's some difference in pricing I believe as well as a new rider (eci waiver, if I recall correctly) that's launched with lifeready plus.
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Manulife Life Insurance

Lifestyle

Insurance

Savings

Family

Is this a plan where I will get my money back?
Jonathan Chia Guangrong
Jonathan Chia Guangrong, Fund Manager at JCG Fund
Level 8. Wizard
Answered on 29 Dec 2019
This is an ilp that combines protection and 'investment'. The glb asset allocation fund isn't really doing well from what I've observed; I've personally switched out of it for my legacy ilp plan years ago. Get in touch with your financial planner to review your portfolio and if it will be better to switch to another fund (I suspect it will). Or get Luke Ho to take over as your servicing agent and plan something out for you if you want to continue down the ILP route. For ILPs, there is no guarantee of fund returns. The only guarantees are the fees levied on the plan.
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SG Budget Babe

Insurance

AVIVA MyWholeLifePlan

Manulife Life Insurance

China Taiping

Has anyone bought the China Taiping i-secure whole life insurance? What are your thoughts on it compared to other whole life policies?
Hi Isabel, Your policies are protected the policy owner's protection scheme, so I would say you don't have to worry about the insurer not honouring their commitment. Yes, they are new to the WL market, but certain not new to insurance. And insurance companies re-insure the risk with bigger companies known as reinsurers, so I would say your policy will be safe. What's untested is their track record of their Participating fund. They are pretty swamped at the moment due to this new plan basically causing disruption in the whole life market. The claims process will be similar regardless of company. Upon submission of supporting documents for a claim, the insurer will do their own checks and request for more information if required, if not, they will make the payment to you. For insurers who have left the Singapore market (it does happen), the policies will continue to be in force and handled by another insurer. For example, John Hancock left Singapore and Manulife took over to continue honouring the contract. Remember, this is a contract between two parties, so it has to be honoured. Regarding BTIR on Term with ECI vs WL ECI, if you'd be able to provide your profile, I can do some sample dataset for you. ECI on term is horribly expensive, which is why sometimes, a Whole Life actually makes sense. But I'll let the numbers speak for themselves. Note that you should be comparing Manulife against CTP, because the payout structure of the plan is similar (i.e. higher of the bonuses + SA or multiplier amount). Aviva pays out bonuses on top of the multiplier amount. Some of my clients take Aviva due to this (and a very minimal premium difference)
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About ManuLife

Established in 1980, Manulife Singapore provides insurance, retirement and wealth management solutions in a bid to help customers, no matter which stage of life they are in. In year 2015, Manulife Singapore was named "Contact Centre of the Year – Insurance (Under 20 Seats)" in the International CRE Awards for the second consecutive year. Manulife Singapore also received the "Corporate Social Responsibility Leadership of the Year – Insurance" award in recognition of its community and social initiatives.

Term Life Investment Plans

1.       ManuProtect Term

Purpose: Receive a lump sum payout upon death or terminal illness

Term Period:

-          Regular Premium: 5 – 10 years | 11 – 40 years

-          Single Premium: 5 – 40 years

Riders: Total and Permanent Disability (TPD), Critical Illness, Accidental Death and Payor Premium Payor

 

2.       DIRECT ManuAssure Term

Purpose: Lump Sum Payout

Term Period: 5 years renewable up to 80 years of age regardless of health conditions, 20 years or up to 65 years of age

Riders: Critical Illnesses

Whole Life Insurance Plans

1.      Ready LifeIncome

Purpose: To receive yearly income

Benefits:

-          Secondary Life Insured (SLI) is an option to transfer the ownership of the plan over to a loved one, which can be appointed or changed up to 3 times during the policy term

-          Upon Total and Permanent Disability (TPD), you can get a premium waiver during your payment term while the coverage continues. Alternatively, there is also a Premium Freeze Option that allows you to stop paying for 1 year

-          Choice of term for guaranteed and non-guaranteed yearly income payout and premium payment term up to age 120.

2.       LifeReady Plus

Purpose: To be covered at every stage of life

Riders: Critical Illnesses (Early Critical Care Rider (II))

Benefits:

-          Health Advantage Benefit – You can enjoy upfront premium discounts for the first 2 years of the policy and longer as long as you meet the stipulated heath targets.

-          Retrenchment Benefit – 6 months of your premium will be waived while coverage continues if you or your spouse is retrenched and unemployed for 30 days or more.

-          Financial Flexibility – Accumulate policy cash value and an Option to convert cash value from your policy to annual payouts, over 10 years with additional 5% interest.

 

3.       DIRECT- ManuAssure Life

Purpose: Balance protection and savings

Coverage: Death, Terminal Illness, Total and Permanent Disability

Riders: DIRECT-Life ManuCritical Care Rider

Benefits:

-          Choice of paying premiums up to age 70 or 85

-          Receive declared non-guaranteed bonuses to help your cash value grow