SINGAPORE – Manulife Singapore today announced the launch of Manulife SmartRetire (V), a whole-of-life, regular premium, investment-linked insurance policy that offers policy owners the opportunity to create a retirement plan best suited to their needs, with premiums starting as low as S$3006 per month.
Policy owners can choose to retire with a stream of income or to receive a lump sum from as early as 40 years old or even at age 70 based on their lifestyle needs.
A recent DBS-Manulife Future Ready Survey has revealed that more than half of (59%) pre-retirees1 define a well-lived life as being ‘content and comfortable’. The survey also showed that while 73% of respondents prioritise making provisions for retirement as their biggest life goal, just over half (53%) feel they’ve achieved this. One in six said that they don’t have anyone to rely on for their retirement security.
Darren Thompson, Chief Customer Officer and Chief Product Officer, Manulife Singapore, said, “The pandemic has forced many of us to re-examine our finances, including our retirement plans. As busy Singaporeans prioritise making provisions for retirement, we wanted to offer a product that is easy to set up and flexible enough to cater for future adjustments. Manulife SmartRetire (V) is designed with this in mind, and we hope to support customers to build a comfortable retirement plan according to their lifestyle needs so they can retire with peace of mind.”