Manulife eyes affluent market with two whole life insurance plans

Both offerings are denominated in US dollars and provide guaranteed death benefits.

Manulife Singapore has launched two new US dollar-denominated whole life insurance solutions aimed at high-net-worth customers: Signature Life Elite (SLE) and Signature Life Prestige (SLP).

Both plans are designed to help customers protect their wealth from the outset, grow it over time and pass it on to the next generation, whilst allowing flexibility as circumstances change.

SLE is aimed at customers who want protection certainty and immediate legacy creation, such as business owners and those with significant financial responsibilities. It offers a higher level of guaranteed protection from inception.

SLP is built for customers who want a guaranteed legacy combined with long-term growth potential. 

It pairs a guaranteed death benefit with the opportunity to accumulate value through non-guaranteed bonuses.

Frank O'Neill, chief product officer at Manulife Singapore, said high-net-worth customers were shifting from simply building wealth to building resilience, and wanted assurance that their wealth could adapt to changing personal and business circumstances and be transferred according to their wishes.