Life Insurance

Manulife SmartRetire

Grow your wealth for you and your loved ones.

Manulife SmartRetire

Create a wealth of possibilities for your future. With Manulife SmartRetire, you can diversify your portfolio for greater potential returns and set your desired Target Income Goal1 to help fulfil your retirement lifestyle. Through regular investments that averages the costs of funds amid market fluctuations, the takes away the need for you to constantly watch the market.

Manulife SmartRetire is a regular premium investment-linked insurance plan designed for medium to long-term wealth accumulation opportunities. It gives you access to a range of professionally-managed funds to that match your risk profile for potential returns. So whatever your retirement lifestyle goals are, you can tailor your portfolio to work towards achieving it.

In addition, this plan comes with life coverage, giving you the dual benefits of investment opportunities and protection in one plan.

Product Details

Benefits at a Glance:

Flexibility to fit your needs

  • Choice of Premium Payment Term – For 5, 10, 15 or 20 years
  • Choice of Retirement Age – At 55, 60, 65 or 70 years old
  • Choice of Retirement Period – For 10, 15, 20, 25 or 30 years
  • Choice of desired Target Income Goal1
  • Choice of professionally-managed funds
  • Choice to receive a desired Target Monthly Income1 or stay invested until age 99
  • Choice of withdrawal options:
    • Withdrawal2 by fixed dollar amount from the fund(s) over a period of time set by you
    • Partial3 withdrawal by selling some of the fund(s) units when the need arises

Peace of mind

  • Premium waiver4 upon occurrence of Total and Permanent Disability (TPD) or Critical Illness (CI)
  • Provides coverage for Death4
  • Guaranteed issuance with no medical check-up required

Maximise investment potential

  • 100% of premiums paid will be used to purchase fund(s) units to maximise your investment
  • Enjoy a head-start with a Welcome Bonus5 of additional fund(s) units
  • Be rewarded with a Loyalty Bonus5 of additional fund(s) units every 3 years
  • Unlimited free fund switches

Optional riders

  • Enhanced Death Benefit Rider5 – provides a Death Benefit that is at least equivalent to the Target Income Goal1
  • Loss of Independence (LOI)6 Benefit Rider – receive an additional monthly payout that is 50% of Target Monthly Income1 if the Life Insured meets the LOI6 definition at any time during the Target Retirement Period. LOI6 occurs when you are unable to perform at least 3 of the following 6 activities of daily living:
    • Washing
    • Dressing
    • Transferring
    • Mobility
    • Toileting
    • Feeding

How Manulife SmartRetire can help you in wealth accumulation and retirement

Mr Lee, age 35, non-smoker, plans to retire at 65 years old and would like to receive a Target Monthly Income1 of S$10,000 for 20 years till he is 85 years old. He purchases a Manulife SmartRetire policy and chooses to pay his premiums annually for 10 years.

Note: The above is only for illustrative purposes. The projected7 figures are not indicative of the likely or future performance of the Manulife SmartRetire fund(s) selected.

Wealth Accumulation

To help Mr Lee achieve his investment goals faster, in the first year, he will receive up to S$10,855 of additional fund(s) units as his Welcome Bonus5. Every 3 years, he will also receive a Loyalty Bonus5 of additional fund(s) units.

At the end of 10 years, at age 45, when his premium payment term ends, his projected7 account value at age 65 will be at S$1,939,529.

Income Stream for Retirement

At his selected Target Retirement Age of age 65, Mr Lee starts to receive a Target Monthly Income1 of S$10,000 regularly from his policy to fund his retirement passion. Alternatively, if he is not in need of the Target Monthly Income1, he may stay invested in the fund(s).

Protection

Over this period, he is also covered in the event of Death.

This plan can help you with these possible needs:

Basic:
  • Living expenses
  • Medical expenses
 
Supplementary:
  • Desired liftstyle expenses
 

For more information, visit any DBS Treasures Private Client centre or

Contact me

Footnotes
1 At the point of application, the policy requires you to select your Target Income Goal, which is the sum of Target Monthly Income you aim to receive over the target retirement period starting from your Target Retirement Age. Changes made to Target Income Goal after policy inception will not affect any basic or supplementary benefits of the policy. The policy does not offer any guarantee that your selected Target Income Goal will be achieved. Target Monthly Income is dependent on the actual fund(s) performances meeting the illustrated rate of return.
2 You can choose to withdraw a fixed dollar amount from the funds on a monthly, quarterly, semi-annually or annually basis. You may exercise this option after the premium payment term.
If this option is activated before the Target Retirement Age, the regular income drawdown will cease at the Target Retirement Age.
3 You are not allowed to partially withdraw units from the Policy in the first 2 policy years. The minimum amount that can be withdrawn each time is S$500, subject to a minimum balance of S$1,000 in the Account. After 2nd policy year, surrender charge will be imposed on the partially withdrawn amount, if the partial withdrawal request takes place during the premium payment term. Please refer to the Product Summary for the surrender charge table for more details.
4 Please see the Product Summary and Policy Contract for details of the Death Benefit and waiver of premium on Critical Illness (CI) and/or Total and Permanent Disability Benefit.
5 Please see the Product Summary and Policy Contract for details of the Welcome Bonus, Loyalty Bonus and Enhanced Death Benefit Rider.
6 Diagnosis of the Loss Of Independence (LOI) must be confirmed and certified by a medical examiner. Manulife will pay the LOI income as long as you meet the LOI definition. You cannot leave the LOI income due under this benefit with Manulife. This benefit ends immediately on the date you recovers and is no longer in the state of LOI. If you have recovered but losses your independence again, you are entitled to this benefit again as long as you continue to meet the LOI definition.
7 The benefit illustration is based on fund management charge of 1.25% per annum on projected investment returns of 4% per annum. The rate of return is used purely for illustrative purposes but it is a Life Insurance Association of Singapore (LIA) prescribed rate of return for benefit illustration – the actual rate may be higher or lower. The actual benefits payable will depend on the actual performance of the Manulife SmartRetire fund(s) selected.
The performance of the Manulife SmartRetire fund(s) is not guaranteed and the account value may be less than the principal invested. No guarantee is given, express or implied, that you will receive any amount invested.

Information correct as at 24 October 2016.

Important Notes

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