A legacy that endures across generations.
You have always had the foresight to be one step ahead. As you prepare an enduring legacy for your future generations, Manulife ReadyIncome can help you to build and transfer your wealth. This regular premium whole life insurance income1 plan is designed to give you a supplementary income stream1 from as early as the end of the 2nd policy year. You also have the flexibility to gift2 the policy ownership and its yearly income payouts1 to your child when he reaches age 18. It is suitable if you would like to enhance your legacy for generations to come.
This plan can help you with the possible needs of:
Mr Lee, age 35, male non-smoker, has a new-born son, James. He wants to establish long-term financial stability for himself and his next generation without compromising on lifestyle.
He buys a Manulife ReadyIncome policy (with compulsory Payor Premium Waiver Rider7) with a Sum Insured4 of S$66,700 with himself as the Policy Owner and James as the Life Insured. He pays the annual premium of S$25,638 for 10 years. He receives the fixed and non-guaranteed yearly payouts1 from the end of the 2nd Policy Anniversary as a supplementary income stream1.
When James turns 18, Mr Lee decides to gift2 this policy to him. James is now the Policy Owner and the recipient of the yearly income payouts1. He receives and uses the payouts1 for his university education. James soon starts his own family and enjoys his yearly income payouts1 to go on holidays with them.
If Mr Lee passes away or is diagnosed with TPD or TI during the premium term, the Payor Premium Waiver Rider7 will kick in and premiums will be waived. James will continue to enjoy the benefits of the plan.
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