Review: DIRECT- ManuAssure Term (with CI) by Manulife

DIRECT- ManuAssure Term (with CI) is a direct-purchase term life insurance plan offered by Manulife (Singapore) Pte. Ltd., designed for consumers seeking pure protection without the need for financial advice or intermediary commissions. As a non-participating term plan, it provides coverage against death, terminal illness, and total and permanent disability (TPD). The product is strictly a no-frills insurance solution; it offers no cash surrender value, no bonuses, and no maturity payout. It is available through three coverage terms: 5 years (renewable), 20 years, or term to age 65.

How it compares

When evaluating DIRECT- ManuAssure Term (with CI) against its direct-purchase peers for a healthy 35-year-old male non-smoker seeking a 20-year term with $100,000 sum assured, the primary differentiator is cost versus coverage scope.

According to July 2026 data from CompareFIRST.sg, Manulife’s plan carries an annual premium of $244. This places it significantly higher in cost than competitors offering basic death cover only. For instance, DIRECT Star Term by Income Insurance offers the same 20-year term for just $108, and DIRECT - Singlife Term Life is priced at $127. Even DIRECT - PRUprotect term by Prudential charges $263, making Manulife’s offering slightly cheaper than Prudential’s but still roughly double the price of Income or Singlife.

The justification for this premium differential lies in the inclusion of Critical Illness (CI), Terminal Illness, and TPD benefits within the base policy. While the comparison table lists premiums "per $100k SA," it does not break down the cost of riders. However, standard market understanding indicates that adding CI/TPD coverage to a term plan typically incurs substantial additional costs compared to pure death benefit plans. Therefore, while ManuAssure appears expensive on a headline basis compared to basic term plans, it is directly comparable only to other "term with CI" products, which are not listed in the provided peer table.

Manulife’s plan also distinguishes itself through its renewal features for the 5-year option, which allows guaranteed renewable terms without evidence of health up to age 80, whereas the 20-year and term-to-65 options have fixed premiums throughout their respective terms. It does not allow premium payments via SRS or CPFIS, nor does it offer convertability features.

Pros

• Comprehensive Coverage: Includes death, terminal illness, and TPD benefits in a single policy, which is rare for direct-purchase plans that usually require separate riders.
• Renewability Option: The 5-year term offers guaranteed renewable coverage without new medical underwriting, providing long-term security for those who may develop health issues later.
• Strong Insurer Stability: Backed by Manulife’s high credit ratings (AA- from S&P/Fitch, A1 from Moody's), offering confidence in claim payouts.
• Direct Purchase Efficiency: Commission-free purchase process allows for straightforward online or direct acquisition without adviser involvement.

Cons

• Higher Premium Cost: At $244/year per $100k SA, it is more than twice as expensive as basic term plans like Income’s Star Term ($108) or Singlife’s Term Life ($127).
• No Investment Component: As a pure protection plan, there is no cash value accumulation, surrender value, or maturity benefit. The premiums are entirely consumed by insurance costs.
• Limited Payment Flexibility: Does not support premium payments via SRS (Supplementary Retirement Scheme) or CPFIS (CPF Insurance Scheme), limiting funding options for some Singaporeans.
• Exclusions Apply: Standard exclusions such as suicide within the first year, pre-existing conditions (unless declared), and HIV-related terminal illness are strictly excluded.

Who it may suit

This product is best suited for individuals who want a "one-stop" direct-purchase policy that covers critical health risks beyond just death, but prefer to avoid adviser commissions. It is ideal for those who value Manulife’s brand stability and the specific benefit of guaranteed renewable terms (for the 5-year option). However, budget-conscious consumers who only require basic life coverage may find pure term plans like Income Star Term or Singlife Term Life more cost-effective, provided they are willing to manage CI/TPD coverage separately if needed.

This is general information based on CompareFIRST.sg data, not financial advice. Premiums and features can change; please verify with the insurer or a MAS-licensed financial adviser before making any decision.