Manulife Singapore has unveiled two new USD-denominated whole life insurance products, Signature Life Elite (USD) and Signature Life Prestige (USD), aimed at addressing the evolving wealth priorities of high-net-worth individuals (HNWIs) in Singapore. These products are designed to offer a balance of protection, long-term wealth growth, and flexibility in wealth transfer, responding to the increasing demand for integrated wealth planning.
The launch comes in response to findings from “The New Fluidity” study by Manulife and FT Longitude, which revealed that 64% of HNWIs in Singapore prioritise adaptable wealth management over mere accumulation. Despite this, only 53% have insurance for longevity and healthcare protection. Manulife’s new offerings aim to fill this gap by integrating investments, retirement, insurance, and wealth transfer into a cohesive plan.
Key features of the Signature Life Elite and Signature Life Prestige include guaranteed death and terminal illness protection from the outset, the potential for long-term wealth accumulation through non-guaranteed bonuses, and the ability to withdraw up to 50% of the Surrender Bonus from Policy Year 16. This flexibility allows policyholders to respond to changing needs without surrendering their coverage.
These solutions are tailored to meet the needs of individuals seeking to maximise protection and legacy planning, as well as business owners requiring substantial coverage. As the financial landscape continues to evolve, Manulife’s new products offer HNWIs a robust framework for securing and growing their wealth.
