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Manulife IncomeGen (II) 1280x316

Manulife IncomeGen (II)

Monthly income1 up to age 120 and a payout upon maturity

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 About this plan

Manulife IncomeGen (II) is an income endowment policy designed to provide lifetime monthly income1 while offering whole-life protection. This insurance plan with monthly payouts helps you build a steady income stream up to age 120, with coverage benefits and flexibility to support your long-term financial needs.

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Why should you get it?

  • Receive lifetime monthly income and lump sum maturity benefit payout

    Receive monthly income1 at the end of the 49th policy month for the 3-year premium plan or at the end of the 61st policy month for the 5-year premium plan, up to age 120. Upon policy maturity, receive a lump sum benefit payout as well.
  • Terminal cancer benefit

    Get an additional lump sum payout2
  • Flexibility to change the life insured

    Enjoy the flexibility to change the life insured3, ensuring that your policy adapts to your family's evolving needs.
  • Be covered against death or terminal illness

    Be covered for death and terminal illness till age 120. Get premium waiver upon total and permanent disability during your premium payment term.
  • Easy application with no health check-up

    Guaranteed acceptance with no health questions asked. 
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Enjoy up to 9% premium discount in the first year. 

Get covered today and enjoy exclusive savings. T&Cs apply.

Learn more

Learn more about Manulife IncomeGen (II)

 

Here's how the plan can help you build a stream of lifetime income while providing flexibility and protection along the way:

  • Step 1: Choose a plan that fits your goals

    Select a 3-year or 5-year premium payment term based on when you would like your monthly income to begin and how long you prefer to pay premiums.

  • Step 2: Start receiving monthly income 
    Receive monthly income from the end of the 49th policy month for a 3-year premium term, or from the end of the 61st policy month for a 5-year premium term.

  • Step 3: Enjoy protection throughout the policy term

    Stay protected against death and terminal illness. If the life insured suffers Total and Permanent Disability (TPD), future premiums will be waived while policy benefits continue.

  • Step 4: Support future generations 
    As your family's needs evolve, the Change of Life Insured feature provides the flexibility to transfer the policy to another life insured, helping the plan continue supporting your family's long-term financial goals.

Manulife IncomeGen (II) may be suitable for you if you are looking for a long-term monthly income plan that combines savings with whole-life protection.

  • Planning for retirement: You want a steady income stream to support your retirement lifestyle with monthly payouts.

  • Building long-term financial security: You want an income endowment policy that helps you prepare for future goals while providing protection benefits.

  • Supporting your loved ones: You want flexibility to change the life insured to your loved ones, helping extend financial support across generations.

  • Seeking protection with income: You want a plan that provides monthly income while covering you against death and terminal illness until age 120.

Frequently asked questions

 

Yes. You can transfer ownership of your Manulife IncomeGen (II) policy through an assignment while the policy is in force. The assignee must be at least 18 years old, subject to the policy terms and conditions.

Your lifetime monthly income consists of guaranteed and non-guaranteed monthly income. The guaranteed monthly income is calculated based on 0.81% of the sum insured divided by 12. The non-guaranteed monthly income varies based on the illustrated investment rate of return and future performance.

If the life insured passes away while the policy is in force, Manulife will pay a lump sum benefit after deducting any policy debt. The death benefit is the higher of 101% of total premiums paid to date (excluding advance premiums) or the guaranteed surrender value, plus any applicable non-guaranteed claim bonus and accumulated monthly income with interest (if not previously withdrawn).

Terms and conditions apply. Please refer to the respective product summary for more information.

  1. Lifetime monthly income consists of guaranteed and non-guaranteed monthly income. Guaranteed monthly income is equal to 0.81% of the sum insured divided by 12. Based on the illustrated investment rate of return of 4.25% p.a., non-guaranteed monthly income is equal to 2.43% of the sum insured divided by 12 and based on the illustrated investment rate of return of 3.00% p.a., non-guaranteed monthly income is equal to 1.17% of the sum insured divided by 12.

  2. In the event the life insured is diagnosed with terminal cancer before the policy anniversary immediately after his or her 75th birthday during policy term and survived for at least 7 days from the date of diagnosis, subject to 1-year waiting period commencing from the policy issue date, the most recent date Manulife approved the change of life insured or date of the most recent policy reinstatement (whichever is later), Manulife will pay an additional lump sum amount depending on the chosen premium payment term as follows, after taking off any policy debt: (a) 30% of annual mode premium for 3-year premium payment term; (b) 50% of annual mode premium for 5-year premium payment term. 

  3. After 2 policy years, the policy owner may request to change the life insured up to 2 times during the policy term. Subject to insurable interest and any other terms and conditions as set out in the policy contract.

Manulife IncomeGen (II) is underwritten by Manulife (Singapore) Pte. Ltd. (Reg. No. 198002116D). This advertisement has not been reviewed by the Monetary Authority of Singapore. Buying a life insurance policy is a long-term commitment. There may be high costs involved if you terminate the policy early, and your policy's surrender value (if any) may be zero or less than the total premiums paid. This brochure is for your information only and does not consider your specific investment objectives, financial situation or needs. It is not a contract of insurance and is not intended as an offer or recommendation to purchase the plan. You can find the full terms and conditions, details, and exclusions for the mentioned insurance product(s) in the policy contract. This brochure is also available in Chinese. If there are any differences between the English and Chinese versions of this brochure, the English version will apply.

This policy is protected under the Policy Owners’ Protection Scheme, which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic, and no further action is required from you. For more information on the types of benefits that are covered under the scheme, as well as the limits of coverage, where applicable, please contact us or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg). 

The information on this page is for general informational purposes only and does not constitute financial advice.

We recommend that you seek advice from a Manulife Financial Consultant or our Appointed Distributors before making a commitment to purchase a policy. 

Information is correct as of 14 April 2024.

   

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