Customers will get an increase in the unit allocation rate after three years of regular premium payments to boost their investment, with 102% of premiums allocated to their selected funds from the fourth to the sixth year of payments and 105% from the seventh year onwards.
The new product, called “Manulink Enrich”, offers three protection options for savers to personalise their coverage. Options A and B offer both protection and wealth accumulation and have the flexibility to increase the sum insured without the need for a medical check-up at three key life stage events: marriage, having a baby or adopting a child.
The third option is for those investors whose key objective is wealth accumulation and has no medical underwriting requirement.
Under all options clients can choose from Manulife’s range of investment-linked funds that cater to different risk profiles and investment objectives.
“Holding on to cash may not be the best use of one’s money."
“Manulink Enrich helps you to grow your wealth while providing protection for your loved ones,” said Naveed Irshad, president and chief executive of Manulife Singapore.
“By investing the full premium from the start, we put your money to work immediately and make it work harder for you.”
Irshad also said that a recent Manulife Investor Sentiment Index had found that more Singapore investors are planning to ‘invest’ in cash than any other asset in the next six months, even though they expect average investment returns of 8.2% this year.
“Holding on to cash may not be the best use of one’s money and we encourage investors to take advantage of other investment opportunities,” he said.