Manulife’s new single-premium policy offers annual yield of 4%

The policy is available for a minimum premium of $3,650.

Manulife Singapore launched Manulife SteadyPayout, a single-premium policy offering a guaranteed annual yield of 4%.

Policyholders making a one-time premium payment will receive annual income from the end of year one to year nine, with the total income amounting to a guaranteed 4% annual yield.

For instance, a single premium payment of $73,000 (S$100,000) will generate a yearly income of $9,818.50 (S$13,450) for nine years, resulting in a total payout of $88,366.50 (S$121,050).

The policy is available for a minimum premium of $3,650 (S$5,000), payable in cash or through the Supplementary Retirement Scheme (SRS), and will remain on offer until the current tranche is fully subscribed.

($1.00 = S$1.37)