Manulife Goal 11 is a 2 year single premium endowment plan with 100% guaranteed capital and return of 3.84% upon maturity. On top of the guaranteed return, there is a potential upside with maturity bonus of 0.41% of your single premium.
Similar to Gro Capital Ease offered by NTUC Income, Manulife Goal 11 allows you to pay for the single premium using cash or funds from your Supplementary Retirement Scheme (SRS).
What are Endowment Plans?
Endowment plans are life insurance saving plans offered by insurance companies.
The aim is to help policyholders save towards specific financial goals. Policy holders can contribute a regular amount for a designated period of time or pay a lump sum upfront at the start of the policy.
Upon maturity of the policy, you will be given a lump sum payout with the guaranteed return. It is best to study the plan carefully as certain endowment plans offers non-guaranteed returns.
Manulife Goal 11
A picture speaks a thousand words. Below is an illustration of how Manulife Goal 11 works.
- Based on the higher illustrated investment rate of return of 3.33% per annum (p.a.), the illustrated total return is 4.25% over 2 years, which consists of a guaranteed maturity value of 3.84% of single premium and a potential non-guaranteed maturity bonus of 0.41% of the single premium.
Based on the lower illustrated investment rate of return of 2.33% p.a., the illustrated total return is 3.84% over 2 years, which consists of a guaranteed maturity value of 3.84% of single premium. The potential non-guaranteed maturity bonus will be zero. The bonus rate and the illustrated investment rate of return are not guaranteed and will depend on the future performance of the Participating Fund of the policy. This figure is rounded down to 2 decimal places. - Not applicable to policies that have been altered.
Manulife Goal 11 Versus Singapore Savings Bonds (SBSEP22 GX22090Z)
If you hold the latest issue of the Singapore Savings Bonds (SBSEP22 GX22090Z) for 2 years, the average return per year is 2.71%.
Singapore Savings Bonds (SBSEP22 GX22090Z) is the winner here against Manulife Goal 11 return of S$384 because you will receive a total return of S$534 based on S$10,000 invested.
| Year from issue date | Interest % | Average return per year %* |
| 1 | 2.63 | 2.63 |
| 2 | 2.71 | 2.71 |
Are Investments in Endowments Safe?
No investments are risk free. I will suggest you to read the policy terms and conditions carefully prior to investing in anything.
The Manulife Goal 11 policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC).
Summary of Manulife Goal 11
I like the Manulife Goal 11 Endowment plan given that it allows the flexibility of allowing you to purchase using either cash or SRS funds. Not all Endowment plans allow this.
The short 2 year maturity period is also a sweet spot against other Endowment plans who are offering 3 years or more.
The only competitor against Manulife Goal 11 here is the Singapore Savings Bonds (SBSEP22 GX22090Z) whereby returns are much higher based on a 2 year holding period.
Nevertheless, if you have max out your investment in Singapore Savings Bonds, then Manulife Goal 11 is a great alternative to grow your savings!
Before I end off, I just want to highlight that this is not a sponsored post. I am like everyone of you out there trying to make my hard earned monies work harder by finding good places to park them.