Manulife Singapore has launched Heirloom (V), a universal life insurance plan (denominated in US dollars) and Signature Income, a single premium whole life plan.
Heirloom (V) is the latest iteration of its Heirloom series. The UL plan is aimed at high net-worth individuals looking for strategies to grow and protect their wealth, provide timeline liquidity, diversify and balance their portfolios, and aid business continuity.
Leaving a legacy for generations to come
Heirloom (V) can be tailored to achieve any of the four financial needs:
1) Legacy Planning: Enhance your wealth and assets.
2) Estate Liquidity: Gain the liquidity you need to divide your estate equally without affecting business.
3) Portfolio Diversification: Spread out your investments and achieve the right balance in your portfolio for a peace of mind even in uncertain market conditions.
4) Business Continuity: Ensure the future of your business by protecting your most valuable employees.
Other key features include:
• Flexible changes to your life insured: For up to two years after the policy is issued: make unlimited changes to your life insured if the policy owner is a corporation; or make up to two changes to the life insured if the policy owner is an individual
• Flexible premium payments: Choose when to make a payment and how much to pay within pre-set limits based on policy value, death benefit and policy in-force duration
• Free partial withdrawals: Allowed without incurring surrender charges or reducing the face amount from policy year 11 (subject to a withdrawal limit of 5% of the policy value for a particular year)
• Six underwriting risk classes: Enjoy lower policy charges if you qualify for a preferential risk class
Find out more about Heirloom (V).
Signature Income is also targeted at high net-worth individuals. It is a single premium whole life plan designed to provide income payouts for insured and loved ones for generations to come.
One plan for two or three generations
With a one-time premium, Signature Income provides you with a lifetime of income (up to age 99), coverage for death and terminal illness, and the option to transfer the policy to your next generation, ensuring that your second, or even third, generation continues to receive financial support.
Another key feature of Signature Income is its flexible payouts, where you can choose to receive either a lifetime of yearly or monthly income payouts to supplement your lifestyle. Alternatively, you can opt to accumulate income payouts to grow your wealth with higher returns.
No medical underwriting is required in applying for Signature Inome, premiums can be paid in USD or SGD.
Find out more about Signature Income.
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