Life and savings insurance plans offer a unique combination of financial protection and long-term savings. These plans help secure your future while providing the opportunity to grow your wealth and ensure financial protection for you and your loved ones, no matter what life brings.
Secure your financial future and live a Better Life
Managing your finances can be challenging with bills, inflation, and daily expenses, but it’s essential for reaching your goals and aspirations. Choosing a savings plan with life insurance can help you build a solid foundation for a financially secure future in the Philippines.
A savings insurance plan (as known as Life and Savings Insurance Plan) is a financial product that combines the benefits of life insurance and savings plan in one package. It provides individuals life coverage while also growing their savings. Some schemes allow policyholders to allocate a portio n o f their savings premium towards investments, which can yield potential returns over time.
A savings insurance plan (also known as a life and savings insurance plan) is a financial product that combines the benefits of life insurance and a savings plan in one package. It provides individuals with life coverage while also growing their savings. Some schemes allow policyholders to allocate a portion of their savings premiums for investment to available investments funds they choose, which can yield potential returns over time.
A life and savings insurance plan provides financial security by offering life coverage, ensuring that your loved ones are protected in the event of your untimely demise. It helps maintain their standard of living and meet financial obligations.
A life and savings insurance plan plays different roles in your life milestones.
As a parent, you always want to offer your kids the best education. A savings insurance plan helps you save funds for your children’s future education.
When planning for retirement, such a plan provides a structured approach to build up your retirement fund, allowing you to secure the quality of your retirement life.
Medical costs tend to rise with age. A savings insurance plan helps build up funds for your healthcare needs, covering potential health expenses even after your retirement years.
A life and savings insurance plan allows you to set aside a portion of your income as the premium. Depending on the plan, it may allocate part of it for investment to available investments funds you choose, which potentially increases your savings over time.
A life and savings insurance plan with life coverage often offers tax benefits made towards the plan may be tax-deductible, providing you with potential tax savings.
Manulife's life insurance with savings plans offers flexible coverage, providing financial protection and growth at every stage of life, from starting your career to planning for retirement.
Life stages covered:
Young professionals: Starting your career and looking for a savings plan that also provides life insurance that cushions them from financial burden of life’s uncertainties. for added security.
New families: Protecting your family’s future while building a financial safety net for their needs, including education and healthcare.
Parents planning for education: Setting aside funds for your child's education, ensuring both protection and growth of your savings.
Pre-retirees: Preparing for a comfortable retirement with a plan that offers both savings and life coverage.
Retirees: Seeking a reliable savings plan that provides ongoing benefits for your retirement years.
Eligibility:
Manulife’s savings life insurance plans are available to individuals at various life stages, from young adults to retirees, with customized coverage options tailored to your current and future needs.
Yes, savings life insurance helps achieve long-term goals by combining life coverage and savings growth, perfect for funding education, buying a home, or planning for retirement.
Absolutely. Savings life insurance plans are an excellent choice for first-time policyholders because they offer both protection and an opportunity to grow savings. These plans are suitable for customers who have the need for general savings and at the same time, a safety net for life’s eventualities but are not yet financially capable for a separate savings and protection plan. These plans are easy to understand and provide financial security, making them a solid starting point for those new to life insurance and long-term financial planning.
Yes, insurance savings plans are well-suited for retirement planning. These plans offer the dual benefit of life coverage and a savings component that grows over time. Unlike traditional retirement vehicles, insurance provides life protection along the way—ensuring your family’s financial security even if retirement plans are cut short. Although Insurance is not meant to replace pensions or retirement funds, but to fill gaps—especially for longevity risk, healthcare costs, or unexpected expenses. By choosing the right plan, you can accumulate funds for retirement while ensuring your family’s financial security in case of an unforeseen event.
Yes, many insurance savings plans allow early withdrawals, though terms and conditions may apply. Early withdrawals can provide you with access to accumulated cash value or Account Value (if it’s a variable life plans), but it's important to understand the potential impact on your coverage and benefits. It's always best to review your policy details or speak to a financial advisor to make informed decisions.
Yes, life insurance and savings plans can be highly customized to fit your unique financial goals. Whether you're looking to save for retirement, your child's education, or other long-term objectives, Manulife offers flexible options that can be tailored to your needs, ensuring you achieve your financial milestones while enjoying peace of mind.
Life insurance creates an amount potentially higher than what you own now---cash, savings or other instruments combined. Savings insurance combines life coverage with savings growth, offering financial protection and the opportunity to accumulate funds over time. Unlike regular savings, which offer no protection, savings insurance plans ensure your loved ones are financially secure in case of unexpected events, while also helping you achieve your long-term goals.
The cost of a savings insurance plan varies based on factors such as coverage amount, age, and policy type. You can customize your premium based on your budget and financial goals, with options available to suit both short-term and long-term savings objectives.
If you stop paying premiums for your savings plan, the policy may lapse, and you could lose coverage and benefits. In some cases, the accumulated cash value might be used to pay premiums, or the policy may be converted into a reduced coverage option, depending on the terms of the policy.
The cost of a savings insurance plan varies depending on the coverage amount, type of plan, and the insurance provider. Generally, you can expect to pay a monthly premium based on your age, health, and the financial goals you want to achieve. It's best to speak with a Manulife advisor for a personalized estimate.
Life insurance creates an amount potentially higher than what you own now---cash, savings or other instruments combined. A savings insurance plan can offer additional benefits over fixed deposits, such as life coverage and tax advantages. While fixed deposits provide guaranteed returns, a savings insurance plan also allows for potential growth through investments, along with the security of life insurance, making it a more comprehensive financial solution.
For variable life plans, you may be able to cancel your savings insurance plan within 15-days from policy receipt date, typically known as the "free-look period," and receive your Account Value plus a refund of the fees. However, after this period, refunds are not permitted and cancellation will be deemed full withdrawal or surrender..
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