Freedom: guaranteed life insurance plan
Life may be unpredictable, but your savings don’t have to be.
What is Freedom?
It is a traditional insurance plan that offers guaranteed cash payouts and life protection that will ensure your finances remain stable no matter what comes your way.
It can serve as a reliable savings fund to help you with your expenses, but it's also the perfect plan to help kickstart your journey towards a truly rewarding future.
A smarter way to save with Freedom
A disciplined way to grow your savings backed by guaranteed benefits and life insurance protection.
Here's how it works
Build financial security with guaranteed cash payouts, life insurance protection, and a lump-sum benefit at maturity.
Plan key benefits and features
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Get guaranteed cash payouts Cash equivalent to 10% of your chosen Face Amount that you can receive at the end of the 7th year for the 5-pay plan and the 11th year for the 10-pay plan, paid every two years thereafter.
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Get a guaranteed lump-sum benefit A one-time lump-sum benefit paid at maturity – 20 years for Freedom 20 or age 65 for Freedom 65.
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Get guaranteed life insurance coverage Life insurance protection for either 20 years, or until age 65, with coverage equal to 200% of your Face Amount.
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Get more with non-guaranteed dividends Get additional earnings for your savings through potential dividends.
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Pay in flexible terms Choose to pay for 5 or 10 years for your Freedom 20 or Freedom 65 plan.
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Boost your coverage Prepare for the unexpected with supplementary benefits. Safeguard yourself from health emergencies, accidental death, or disability.
Important notes:
Payouts are given as long as the insured is alive.
Face Amount is the value of your plan and will be the basis of your guaranteed cash payouts, maturity benefit, and death benefit.
The guaranteed cash payout starts depending on your chosen payment term. It starts at the 7th year for 5-pay or 11th year for 10-pay plans.
Plan options and comparison
Manulife Freedom offers flexible plan options to suit different goals, allowing you to choose based on your preferred premium payment term and coverage duration.
| Plan option | Premium payment term | Coverage duration | Key benefit |
| Freedom 20 | 5 Years or 10 Years | Up to Age 65 | Guaranteed Cash payouts begin at the end of the 7th year for the 5-pay plan and the 11th year for the 10-pay plan, paid every 2 years thereafter, plus a lump-sum benefit at maturity.
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| Freedom 65 | 5 Years or 10 Years | Up to Age 65 | Guaranteed Cash payouts begin at the end of the 7th year for the 5-pay plan and the 11th year for the 10-pay plan, paid every 2 years thereafter, plus a lump-sum benefit at maturity. |
| Additional riders (accident/critical illness) | Optional | As per the base plan coverage | Extra protection against unforeseen risks |
Who should consider Manulife Freedom?
Manulife Freedom is ideal for individuals at different life stages, offering both life insurance and guaranteed cash payouts to help build their savings for future financial goals.
- Early and mid-career professionals: Build retirement savings early or enhance existing savings with flexible premium terms and guaranteed payouts, making it a great life insurance with a guaranteed lump sum benefit option.
- Pre-retirees: Supplement your pension with guaranteed lump sum benefits and consistent cash payouts, ideal for those seeking a pension insurance plan.
- Anyone seeking protection and growth: Freedom suits those who want dependable life insurance coverage while steadily building their savings for future financial goals.
Frequently asked questions
Yes, pension insurance plans are suitable for self-employed individuals as they offer a structured way to save for retirement while benefiting from life insurance coverage. Self-employed individuals can benefit from the security and guaranteed payouts provided by pension plan insurance, helping them build their retirement savings without relying on employer-sponsored plans.
Yes, certain insurance plans, such as annuity insurance plans, offer monthly pension payouts. With these plans, you can convert your lump sum into regular monthly payments, providing a steady income during retirement.
In the event of the policyholder's death, pension benefits are typically paid out to the designated beneficiaries. The specific payout depends on the terms of the policy, which may include a death benefit or a guaranteed payout period, ensuring the beneficiary receives the benefits even if the policyholder passes away before retirement.
Yes, annuity insurance plans can be combined with life insurance. Many retirement plans, including Manulife Freedom, offer both life insurance coverage and annuity features, providing financial protection and guaranteed retirement income.
Retirement life insurance benefits are typically not taxed during the accumulation phase, but the tax treatment can vary depending on your country’s tax laws and whether you withdraw funds before retirement. Upon payout, the taxability of any gains depends on the policy's structure and local tax regulations.
Pension plan insurance offers various payout options, including lump sum payments or periodic payouts, such as monthly or annual distributions. You can choose a payout structure that aligns with your retirement income needs, providing flexibility to match your financial goals.
Getting ready for retirement with Freedom
Prepare now for a truly rewarding retirement - your best years are just ahead.
Here's how it works
Choose to optimize your retirement fund by reinvesting your guaranteed cash payouts every two years, and letting it grow to add to your lump-sum cash benefits upon your plan’s maturity date.
Here's how it works
Choose to optimize your retirement fund by reinvesting your guaranteed cash payouts every two years, and letting it grow to add to your lump-sum cash benefits upon your plan’s maturity date.
Want to learn more about Freedom?
Talk to a financial advisor today!
