Manulife Whole Life Insurance- LifeReady Singapore Review

LifeReady is the whole life insurance plan offered by Manulife. With LifeReady, you will enjoy numerous benefits such as an option to have add-ons like extra protection with a premium waiver and critical illness riders which is unique to Singapore. Since this is a whole life insurance plan, you will be protected for your entire life. If you stay healthy based on Manulife’s underwriting assessment, you will get to enjoy upfront discounts on the insurance premium.

Also, as part of a limited offer promotional deal, you will get cash rewards of up to 15% on LifeReady until 15 December 2018. All qualifying customers will get this cash reward through PayNow.

Key Highlights of LifeReady

Some of the key highlights of this life insurance plan are as follows:

  • Extra protection with a premium waiver and critical illness riders.
  • Enhance your coverage during major milestones in your life with no medical questions asked. These milestones include your graduation, marriage, parenthood, and when you purchase your first home.
  • Get cash value with this policy.
  • Get the option of multiplying your protection to up to five times of the sum assured.
  • With the health advantage feature, you will get premium discounts upfront. For example, if your health status meets Manulife’s criteria at the time of application, you will get a discount on the premium for the first two policy years. If you wish to continue enjoying the discount after the two years, you just have to fulfil Manulife’s health targets in the first two years.
  • You will get coverage for total and permanent disability until the age of 70 years, terminal illness and death.

You can enhance your coverage with the following critical illness options:

  • For advanced stage illnesses, get a boosted payout of up to S$2 million and enjoy the same enhanced coverage as your base plan.
  • For early to advanced stage illnesses, you will enjoy payout of up to S$500,000, with up to S$250,000 per claim per condition for early to intermediate stages.
  • Enjoy free child cover for advanced stage critical illnesses.
  • Enjoy similar multiplied coverage as your base plan that includes 105 medical conditions in all stages including 18 special conditions.

Enhance your coverage with the following premium waiver options:

  • Payer benefit plus spouse rider: This becomes effective upon total and permanent disability, terminal illness or when your spouse is diagnosed with a critical illness.
  • Payer benefit plus rider: This becomes effective upon total and permanent disability, terminal illness or when you are diagnosed with a critical illness.
  • Payer benefit rider: This becomes effective when you are totally and permanently disabled, pass away or when you become terminally ill.
  • Critical care waiver rider: This becomes effective when you are diagnosed with any of the covered critical illnesses.

If you wish to know more about this plan, you can get in touch with Manulife’s financial adviser or you can call the hotline number at (+65) 6833 8188. This line will be open from Monday to Friday, 9:00 a.m. - 6:00 p.m. excluding public holidays.

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