Manulife Singapore has introduced a new insurance product combining Indexed Universal Life (IUL) insurance with flexible income payout options, responding to growing demand from high-net-worth individuals (HNWIs). According to recent findings, 73% of HNWIs expressed strong interest in such offerings, with more than half prioritizing customizable payout features.
The new plan, called Signature Indexed Income, is designed specifically for affluent clients and HNWIs. It offers market-linked returns, downside protection, and the ability to transfer wealth across generations. The plan allows policyholders to choose between single or annual premium payments over a period of up to 10 years, with the option to begin receiving payouts as early as the second policy year.
A key feature of the Signature Indexed Income plan is its link to the performance of the S&P 500 Index. The product offers a cap rate for potential growth while maintaining a 0% floor rate for downside protection. Additionally, the Surrender Value Floor feature ensures greater stability, and the Automatic Premium Spread option distributes premiums evenly over 12 months for consistent returns.
For legacy planning, the plan offers flexibility in transferring policy ownership, changing the insured party, and designating beneficiaries for the death benefit. Signature Indexed Income also guarantees acceptance with no health inquiries and provides whole-life coverage for death and terminal illness.
Related topics
