Manulife Goal 2023 (I) Guarantees 3.92% p.a.

Manulife Goal 2023 (I)

Manulife Goal 2023 (I) guarantees you a return of 3.92% p.a. for a 2 year period. Similar to other Endowment plans offered by other insurance companies, Manulife Goal 2023 (I) guarantees you 100% capital guaranteed at maturity. This is a 2-year single premium endowment plan.

If you have missed the GREAT SP Series 10 that gives you 4% return after 1 year, then this is the current next best Endowment plan that gives you 3.92% p.a. You will receive a guaranteed return of 8.00% upon maturity, and there is a potential upside with maturity bonus of 0.17% of your single premium.

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 2023 (I) versus Singapore Savings Bond (SBMAY23 GX23050W)

If you hold and sell the current issue (SBMAY23 GX23050W) after 2 year, the effective interest rate is 3.03%.

Year from issue date Interest % Average return per year %*
1 3.03 3.03
2 3.03 3.03

Needless to say, Manulife Goal 2023 (I) offers higher returns at 3.92% p.a. as compared to 3.03% p.a.

Summary of Manulife Goal 2023 (I)

Below is a summary of the Pros and Cons of Manulife Goal 2023 (I) endowment plan.


  • Short 2 year commitment.
  • 100% capital guaranteed after 2 years.
  • Guaranteed maturity yield of 3.92% p.a.
  • Pay using cash or Supplementary Retirement Scheme (SRS) funds.
  • Covered against death at 101% of your single premium.
  • No Health Check-ups.


  • Minimum starts at S$10,000. Personally, I felt that this is slightly high.
  • Low potential non-guaranteed maturity yield of 0.08% p.a.

You can either buy it directly from Manulife’s website or via DBS website. Do note that DBS called this plan SavvyEndowment 11.

Disclaimer: This is Not a sponsored post and the opinions are solely based on My Sweet Retirement’s opinion.

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