Enjoy true flexibility with RetireSavvy

Ease in gently

  • Affordable premiums: Get a 10-year plan from just S$128.74/month1. Alternatively, you can also choose to get a single premium plan, 3-year or 5-year plan
  • Total flexibility in your hands: Choose to add on by making a premium top-up2 when you have extra cash to spare
  • Capital guaranteed: Receive 100% of your capital when you reach your selected retirement age or the end of the 15th policy year, whichever is earlier
  • Returns from RetireSavvy: On top of your capital, you will receive guaranteed returns and potential non-guaranteed returns from the policy

Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender values payable may be less than the total premiums paid.

Flow with flexibility

  • Customise your plan to your protection and retirement needs during your policy term:
    • Choose a later retirement age3
    • Adjust your income payout period3
    • Select your preferred combination of lump sum retirement payment and monthly retirement income by adjusting your retirement income rate3
Find peace in protection

  • Remain steadfast amid life's uncertainties with:
    • Lump sum payout of 105% of premiums paid in the event of death or terminal illness (before the income payout period)
    • A lump sum payout equivalent to 20% of your single premium amount or 50% of your annual premium amount in the event of retrenchment4. Read our FAQs for more details
    • A waiver of all future premiums in the event of total and permanent disability5 (for regular premium plans only)
    • An option to put your premium payment on hold in times of need, while keeping your policy in force6 (for regular premium plans only)

Scenario 1: John tops up his premiums & unfortunately gets retrenched

Age 40

John receives a good bonus from his company and decides to set aside a portion of it for his retirement.

  • He tops up his S$5,000 to his RetireSavvy plan
  • Based on his chosen retirement income rate of 90%, John will receive the following when he reaches his selected retirement age of 65 years old:
    • Guaranteed payout: S$2,119.13 as a lump sum + S$128.94/month over 15 years
    • Non-guaranteed payout: Up to S$2,425.42 as a lump sum + S$214.63/month over 15 years8

Age 55

John is unfortunately retrenched from his job.

  • He will receive a retrenchment payout benefit of S$1,750 which is 50% of his annual premium as a lump sum payout
  • Despite claiming on the policy, the monthly retirement income and lump sum retirement payment that John is expected to receive upon retirement remains unchanged
Scenario 2: John adjusts his retirement income rate, monthly income payout period and defers his retirement age

Age 57

John realises that he needs more for his retirement and decides to adjust his retirement income rate to 100% and to change his monthly income payout period to 10 years.

  • John will not incur any additional premiums for making this change
  • Based on his new retirement income rate of 100%, John will receive the following when he reaches his selected retirement age of 65 years old:
    • Guaranteed payout: S$208.37/month over 10 years
    • Non-guaranteed payout: Up to S$303.25/month over 10 years9.

Age 62

John decides to retire at 70 instead. Hence, he decides to defer his retirement to 70.

  • John will not incur any additional premiums for making this change
  • Based on his chosen retirement income rate of 100%, John will receive the following when he reaches his selected retirement age of 70 years old:
    • Guaranteed payout: S$220.89/month over 10 years
    • Non-guaranteed payout: S$414.11/month over 10 years10.

How does RetireSavvy work?
  1. Choose the desired premium payment term of single premium, 3, 5, or 10 years
  2. Choose the desired basic plan premium
  3. Choose the desired retirement age of 45, 50, 55, 60, 65 or 70
  4. Choose the desired income payout period of 5, 10, or 15 years

Enjoy added flexibility to perform premium top-up(s), change your income payout period, retirement income rate and defer your selected retirement age after your policy inception. Terms and conditions apply.

What is the minimum premium amount for RetireSavvy?

The minimum premium amount per policy is:

  • Single Premium - S$12,000 single premium
  • 3Pay – S$5,000 annual premium ($429.14 monthly)
  • 5Pay – S$3,000 annual premium ($257.48 monthly)
  • 10Pay – S$1,500 annual premium ($128.74 monthly)
What is the Retirement Benefit?

The Retirement Benefit is made up of the:

  • Retirement income and/or
  • Lump sum retirement payout

Retirement income is payable monthly throughout the selected income payout period, whereas the lump sum retirement payout is a one-time payout on the policy anniversary immediately after the life insured attains his/her selected retirement age.

During application, the policyholder can decide the split between monthly retirement income and the lump sum retirement payout. After policy issuance, the policyholder also has the flexibility to change this breakdown, also known as the retirement income rate3.

Can I perform premium top-up anytime?

The policyholder can request to perform a premium top-up 1 year after policy inception and any time at least 5 years before the selected retirement age.

To request a top-up, simply submit a form to Manulife. After Manulife accepts and effects the change, an endorsement and new policy illustration will be issued.

Is there a waiting period applicable to the Retrenchment Payout benefit?

Yes, the policyholder will only be eligible for retrenchment payout benefit:

  • if retrenchment occurred after 90 days from the policy issue date or the date of reinstatement, whichever is later; and
  • if the life insured remains unemployed for a minimum period of 30 consecutive days from the date of retrenchment as mentioned on the retrenchment letter issued by the life insured’s employer.

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