EliteLife Signature Saver
Managing Your Wealth Today For A More Secure Future.
Reap the rewards of a short premium payment term by putting aside funds over a 3-year period to fund the new venture you have in mind, to receive a steady income stream in life, or to share the rewards from your pot of wealth with your family.
This is a Life insurance product.
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Introduction
There are different ways of achieving financial security, both for you and for your family.
Manage your wealth with EliteLife Signature Saver, an elite savings plan to help you achieve your medium and long-term financial goals.
Reap the rewards of a short premium payment term by putting aside funds over a 3-year period to fund the new venture you have in mind, to receive a steady income stream in life, or to share the rewards from your pot of wealth with your family. EliteLife Signature Saver supports you in attaining your financial goals while staying protected.
Key Features
Highlights of EliteLife Signature Saver:
Short Premium Payment Term
- Enjoy a short premium payment term of 3 years only and choose the coverage term from the available plan options:
| Plan Option | Coverage Term |
|---|---|
| Wealth-88 | Up to age 88 |
| Wealth-88-Plus | Up to age 88 |
| Wealth-15 | 15 years |
Guaranteed Cash Payment (GCP)1
- Receive annual GCP starting from end of the 1st policy year.
| End of Policy Year | GCP (% of Annualised Premium) |
|---|---|
| 1 - 15 | 5% |
Choose to receive the GCP when it is payable OR accumulate the GCP with Manulife under GCP Account to earn Crediting Interest Rate for potential upside. Amount in GCP Account can be withdrawn anytime when needed.
Potential Upside With Guaranteed Minimum Crediting Interest Rate
- Enjoy potential investment returns through monthly Crediting Interest Rate2 declared from Manulife Universal Life Fund.
- Even in unfavourable market environment, the net Crediting Interest Rate will never be negative. It is guaranteed at minimum of 2% p.a. for the first five years and 0% in the following years.
Valuable Insurance Protection
- In the event of death or Total and Permanent Disability (TPD)3 during the first 15 years, the following benefits will be payable in one lump sum:
| Policy Year | Death4 or TPD Benefit |
| 1 to 2 | Total Modal Premiums Paid5 less total GCP paid PLUS GCP Account Value, if any. |
| 3 to 15 | The higher of:
|
- In the event of Accidental Death during the first 15 years, the following will be payable in addition to Death Benefit:
| Policy Year | Accidental Death Benefits (ADB)6 | |
| Causes | Benefit Payable | |
| 1 to 15 | Accidental Death | 200% of basic Face amount |
| Accidental Death due to travelling in Public Conveyance, an elevator or electric lift or due to fire while in a Public Building | 400% of basic Face amount | |
Wealth Pot
- At the end of Policy Year 15, a Wealth Pot which is equivalent to a lump sum amount as below will be formed:
| Policy Condition at the End of Policy Year 15 | Amount of Wealth Pot |
| With No Lapse Guarantee intact | The higher of:
|
| With No Lapse Guarantee has been forfeited |
|
*Wealth Booster is equivalent to 3% of Basic Account Value at the end of Policy Year 15.
Lump Sum Payout At Maturity
For Wealth-88 or Wealth-88-Plus, the amount of the Wealth Pot will remain invested in Manulife Universal Life Fund up to Insured’s age 88 to grow with Crediting Interest Rate.
Based on the chosen plan, you will receive the following benefit upon survival of Insured at Maturity:
| Plan Option | Maturity Benefit |
|---|---|
| Wealth-88 | 110% of the Account Value will be payable. |
| Wealth-88-Plus |
You will receive an Annual Income8 at the end of each policy year starting from Policy Year 16. Upon maturity, 110% of the remaining Account Value will be payable. |
| Wealth-15 | Wealth Pot amount will be payable. |
Flexibility To Switch Plan Option
- 90 days before the creation of Wealth Pot, you have the flexibility to switch within the available plan options to meet your latest financial needs in case your initial financial goal has changed9.
Hassle-Free Application
- No medical underwriting is required for Face Amount up to RM1,000,000 per life10.
- Your policy will continue to stay in force even if the Basic Account Value is insufficient to pay for Policy Charges.
Income Tax Relief
- Enjoy income tax relief subject to the requirements of the Inland Revenue Board.
| Product Footnotes: | |
| 1 | GCP is payable from the Basic Account. It will only be payable provided all premiums are paid up to date. Upon inception, you can choose to receive the GCP or keep the GCP with Manulife. If you choose to keep the GCP with Manulife, the amount will create a GCP Account Value which will be invested into Manulife Universal Life Fund and accumulate with the Crediting Interest Rate. Withdrawal from the GCP Account is not subject to any charges/fees. |
| 2 | The Crediting Interest Rate declared is not guaranteed and may fluctuate depending on the actual investment return of the fund. A smoothing mechanism will be applied by Manulife to determine the Crediting Interest Rate. The Crediting Interest Rate is subject to Investment Income Tax and Fund Management Charge. Refer fund fact sheet for more info. |
| 3 | TPD coverage is up to 15th policy year or up to Insured’s age 70, whichever is earlier. |
| 4 | For plan option Wealth-88 and Wealth-88-Plus, Account Value will be payable if death of Insured occurs from policy year 16 onwards, policy will terminate after payout. |
| 5 | Total Modal Premiums Paid is the total Premiums (excluding Extra Premium due to loading, if any) received by Manulife on the basic policy from the Issue date until death or commencement of disability of the Insured. |
| 6 | ADB is only applicable if entry age is 60 and below, the coverage is up to the 15th policy year or up to the Insured’s age 65, whichever is earlier. Terms and conditions apply. Please refer to the policy contract for more details. |
| 7 | If No Lapse Guarantee has been forfeited, the Wealth Pot amount will be based on only the Basic Account Value plus GCP Account Value. |
| 8 | Annual Income is paid starting from Policy Year 16 by withdrawing from the Account Value and will only be paid provided the balance of the Account Value after each payout is at least RM5,000. Annual Income will cease upon death or policy maturity, whichever is earlier. |
| 9 | The flexibility to switch is only allowed to be exercised during the aforementioned period. A notification will be sent to the Policy Owner. If no response is received, Manulife will continue to administer the policy in accordance with the existing plan. |
| 10 | Aggregated with other similar type of Universal Life policies issued by Manulife on the same life. |
| 11 | Provided all premiums are paid up to date. |
The benefit(s) payable under eligible product is protected by PIDM up to limits. Please refer to PIDM’s Takaful and Insurance Benefits Protection System (“TIPS”) brochure or contact Manulife Insurance Berhad or PIDM (visit www.pidm.gov.my).
DISCLAIMER FOR BANCASSURANCE PRODUCTS
Before purchasing the insurance policy, you are advised to refer to the terms and conditions in the Product Brochure, Product Disclosure Sheet and Product Illustration for details of the important features and major exclusions of the insurance plan.
This insurance product is underwritten by Manulife Insurance Berhad (200801013654 (814942-M)), a licensed insurance company regulated by Bank Negara Malaysia and is distributed by Alliance Bank Malaysia Berhad (“Bank”) (198201008390 (88103-W)). The Bank accepts no responsibility or liability for the plan or the products and services offered by Manulife Insurance Berhad.
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