Manulife unveils IUL product tied to S&P 500 returns

Over half of HNWIs said they prioritise customisable payout features

Manulife Singapore has launched a new insurance plan combining Indexed Universal Life (IUL) insurance with flexible income payout options, due to 73% of high-net-worth individuals (HNWIs) showing high demand.

Also, over half said they prioritise customisable payout features.

The plan, Signature Indexed Income, is designed for affluent clients and HNWIs, offering market-linked returns, downside protection, and multi-generational wealth transfer.

The plan allows policyholders to choose between single or planned annual premium payments for up to 10 years and start receiving payouts as early as the second policy year.

They can also adjust premium allocations between the Fixed Account and Index Account throughout the policy term.

Signature Indexed Income links payouts to the performance of the S&P 500 Index, with a cap rate for potential growth and a 0% floor rate for downside protection. 

The Surrender Value Floor feature provides additional stability, while the Automatic Premium Spread option distributes premiums over 12 months for more consistent returns.

For legacy planning, policyholders can transfer policy ownership, change the insured party, and designate beneficiaries to receive the death benefit. It also offers guaranteed acceptance with no health queries and includes whole-life coverage for death and terminal illness.