DBS Whole Life Insurance Income Plans

With a DBS Whole Life Insurance Income Plan, you will be able to set up a steady financial future for your upcoming generation. When you have an additional source of income, the need for you to compromise on your lifestyle reduces. With a lasting income the your financial future as well as those of your upcoming generation will be bright and secure.

Types of Plans

ReadyPayout Plus – Endowment with Yearly Payout

This plan can help you for your child’s education, your personal goals, your vacation plans, or when you’re starting a family. You can opt for 13, 15, or 20 years as the term of your policy. You can pay your premium amount in terms of 10, 15, or 20 years.

With Manulife ReadyPayout, as soon as your 1st policy year ends, you will be able to start getting your annual Fixed Cash Benefits (FCB). On the other hand, you can also choose to accrue the Fixed Cash Benefits at 3% non-guaranteed rate of interest (at an estimated rate of return of 4.75% p.a.). The rate of interest could change and the policy owner will be notified of the same with 30 days’ in advance.

Features & Benefits

Benefits of ReadyPayout Plus
Issuance is guaranteed Yes
Term of the policy 13, 15, or 20 years
You will get coverage for Terminal illness Death Premium amount on total and permanent disability will be waived off.
Payouts Fixed Cash Benefits (FCB) you’ll get on a yearly basis:
  • You will start receiving FCB soon after your 1st policy year ends. Your benefits will last till the policy year before the maturity of your policy.
  • You will qualify for up to 10% of the amount insured. The sum insured is used only to calculate Fixed Maturity Value, FCB, and Reversionary Bonus. It doesn’t indicate the benefits that need to be paid on a claimed event.
Policy term of 13 years End of policy year
2% 1 to 5
4% 6 to 10
10% 11 to 12
50% Total
Policy term of 15 years End of policy year
2% 1 to 5
4% 6 to 10
10% 11 to 14
70% Total
Policy term of 20 years End of policy year
2% 1 to 5
4% 6 to 10
6% 11 to 15
10% 16 to 19
100% Total
Maturity benefit: (Will be given as a lump sum after deducting any amount you owe to Manulife)
  • Fixed Maturity Value of 80%, 76%, or 50% of sum insured for a policy term of 13, 15, and 20 years respectively.
  • The accrued reversionary bonus (if any).
  • Maturity bonus (if any)
  • 100% of FCB + non-guaranteed interest of 3% p.a. if FCB is accrued.

ManuFlexi Growth – Endowment Life Insurance

This policy can benefit you when you’re starting a family or when you need financial assistance for your personal goals. This endowment policy offers you both protection benefits as well as fixed cash payouts. With this plan, you can have extra cash, can accrue for more savings, or choose to utilise the FCB to offset your premiums, so that you will end up paying only for the initial five years.

Features and Benefits

Benefits of ManuFlexi Growth
Issuance is guaranteed Yes
Term of the policy 10 years
You will get coverage for Terminal illness Death Total & permanent disability + Death caused due to an accident
Payouts Fixed Cash Benefits (FCB) you’ll receive annually:
  • Will be equivalent to your annual premium
  • Effective for the last 5 years of the plan
Maturity Benefit:
  • 100% of basic amount insured + accrued reversionary bonus (if applicable)
  • Maturity Bonus (if applicable)
  • 100% of Fixed Cash Benefit + non-guaranteed 3% rate of interest p.a. if FCB is accrued.

Optional Riders

You can increase your extent of coverage by opting for certain add-on riders with the ManuFlexi Growth and ReadyPayout Plus plans. These are given below:

Payor Premium Waiver Rider

In the event of your death, contraction of terminal illness, or total and permanent disability (TPD), your premium amount for a basic plan as well as attached rider(s) applicable during your coverage term will be waived off.

Cancer Care Premium Waiver Rider

If you’re diagnosed with a major cancer, the upcoming premiums of basic plan along with attached rider(s) that are applicable during your term coverage will be given a waiver.

Level Term Rider

With this rider, you will be given a lump-sum amount that’s worth up to 5 times your annual premiums of a basic plan (with the minimum amount insured being S$10,000) or S$250,000 (whichever is the least), if you’re diagnosed with terminal illness, suffer from a total and permanent disability, or in the event of your death.

Manulife ReadyIncome

With a secondary source of income, you will be able to pursue a lifestyle you want without making much compromises. DBS Manulife ReadyIncome is a whole life insurance income policy that offers you payouts on a yearly basis.

With this policy, your annual income payouts are fixed, with non-guaranteed interest rates. You will start receiving payouts as soon as your 2nd policy year ends even though you would still be making your policy premium payments.

This policy has an added advantage that allows you to shift the ownership of your policy from you to your child as soon as he or she reaches the age of 18 years. With this advantage, your child’s future will be financially secure because he or she will receive payouts on an annual basis.

Features and Benefits

  • Get additional income through a yearly payout of up to 2.25% of the sum insured (1% fixed). You will receive this yearly payout starting towards the end of 2nd policy year to 9th policy year.
  • After the 10th policy year ends, you will be eligible for an annual payout of up to 18% of the sum insured (8% fixed).
  • When you reach 99 years of age, you will get a lump sum amount as your maturity benefit.
  • Your application process will be easy and trouble-free since the insurance policy will be issued to you without any medical check-up.
  • You can pay your premium in a term of 5, 10, 15, or 20 years.
  • You can choose to accrue your annual income payouts with Manulife at 3% p.a. (non-guaranteed) interest rate.
  • You can choose to withdraw your accrued annual income payouts either partially or completely.
  • You have the liberty to shift the ownership of the insurance plan and the annual income payouts to your son or daughter who is 18 years old.
  • In the event of Total and Permanent Disability (TPD), your premium payment requirement will be discontinued while your annual income payout will continue.
  • You will be given death and terminal illness protection.
  • If the policy was bought for your child or spouse, in the event of your death, TPD, or TI, your premium payments will be waived as per the mandatory Payor Premium Waiver Rider.

How Can This Plan Help Me?

  • Child’s education
  • Personal goals
  • Secondary income stream
  • Gifting for children

How to Apply?

  • In order to apply for ReadyPayout Plus, you can get DBS Wealth Planning Managers to contact you by leaving your contact-information on the bank’s website or by visiting any of the bank branches.
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