Manulife Singapore has launched its Signature Indexed Income plan, a pioneering product combining Indexed Universal Life (IUL) insurance with customisable income payout features. This innovative plan is designed to cater to the financial needs of affluent and high-net-worth individuals (HNWIs) by offering market-linked returns, downside protection, and seamless wealth transfer.
The plan provides protection against market fluctuations with a 0% floor rate and Surrender Value Floor feature, ensuring stability even during downturns. It links payouts to the S&P 500 Index, potentially offering higher returns compared to traditional income plans. The Automatic Premium Spread (APS) option allows premiums to be spread over 12 months, providing more stable returns.
Thomas Lee, Chief Product Officer of Manulife Singapore, stated, “With Signature Indexed Income, we are pioneering a solution for Affluents and HNWIs seeking alternative income streams and portfolio diversification.” The plan’s flexibility allows policyholders to adjust premium allocations and choose when to start receiving income payouts, tailoring it to their specific financial goals.
A study commissioned by Manulife Singapore revealed that 73% of HNWIs are interested in an indexed universal life plan with monthly income payouts and flexible features. The plan also facilitates legacy planning, enabling policyholders to transfer ownership, change the insured life, and nominate beneficiaries.
Rena Lim, Head of High Net Worth and Financial Advisory at Manulife Singapore, highlighted the plan’s appeal for those seeking a balanced approach to wealth management, combining growth potential, income generation, and protection. With its innovative structure, Signature Indexed Income is set to redefine income planning for affluent clients in Singapore.
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