Retirement

Manulife Goal 2024 (I) 3.16% p.a.

Insurance

Manulife Goal 2024 (I) is a short-term Endowment plan that provides guaranteed returns of 3.16% p.a. at the end of 2 years. If you include the non-guaranteed component, you can earn up to 3.36% p.a. based on the higher illustrated investment rate of return (IIRR) of 3.80% per annum. The non-guaranteed maturity bonus will be 0.42% of the single premium.

Manulife Goal 2024 (I) may not offer you the best guaranteed returns in town but one of the advantages of this plan is that it only requires a low minimum single premium of S$5,000 via cash or Supplementary Retirement Scheme (SRS) to get started.

Manulife Goal 2024 (I) is issued and underwritten by Manulife (Singapore) Pte. Ltd. (“Manulife”) (Reg. No. 198002116D) and distributed by DBS. Thus, you can find this Manulife Goal 2024 (I) at DBS website.

What are Endowment Plans?

Again, if you are not familiar with Endowment plans, they are life insurance saving plans offered by insurance companies to help you with wealth accumulation. If you want to retire early, Endowment plans are also a great way to accumulate a larger nest egg for your retirement years.

The aim of wealth accumulation plan 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.

In this case, Manulife Goal 2024 (I) offers you 3.16% p.a. guaranteed return upon maturity in 2 years.

Manulife Goal 2024 (I) versus Singapore Savings Bond (SBAPR24 GX24040Z)

If you hold and sell the current issue (SBAPR24 GX24040Z) after 2 years, the average return per year is 2.95%.

Year from issue dateInterest %Average return per year %*
12.952.95
22.952.95

Needless to say, Manulife Goal 2024 (I) offers higher guaranteed returns of 3.16% p.a. as compared to 2.95% p.a. that is offered by Singapore Savings Bond.

Summary of Manulife Goal 2024 (I)

Below is a summary of the benefits of Manulife Goal 2024 (I) endowment plan.

  • Returns of up to 3.36% p.a. for a 2-year policy term
  • Guaranteed maturity yield of 3.16% p.a. and non-guaranteed maturity yield of up to 0.20% p.a.
  • 100% Capital Guaranteed after 2 years
  • Coverage for death benefit at 101% of single premium
  • Easy application with guaranteed acceptance and no health check-ups
  • Minimum single premium of S$5,000 via cash or Supplementary Retirement Scheme (SRS)

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