Manulife Singapore has introduced a new single-premium policy, Manulife SteadyPayout, promising a guaranteed annual yield of 4%. This new offering is designed for individuals seeking a predictable, long-term income stream.
The policy requires a one-time premium payment, with policyholders receiving annual payouts from the end of the first year through to year nine. The payouts will collectively ensure a 4% annual return on the initial investment.
For example, a single premium payment of $73,000 (S$100,000) would generate an annual income of $9,818.50 (S$13,450) for nine years, totaling $88,366.50 (S$121,050) in guaranteed payouts over the life of the policy.
The policy is available for a minimum premium of $3,650 (S$5,000), and payments can be made either in cash or through the Supplementary Retirement Scheme (SRS). Manulife confirmed that the policy will remain open until the current tranche is fully subscribed.
(Note: The exchange rate is $1.00 = S$1.37)
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