Achieving financial freedom by the time of retirement is a common goal for many, including millennials who also face one of the most uncertain economic futures of any generation.

According to Manulife Vietnam estimates, an average millennial in Viet Nam aged 30 would need around VND5.5 billion (US$239,973) in savings by age 60 to fund a comfortable retirement lifestyle.

While potentially a wake-up call for some, this goal is still achievable with the right financial advice and solutions.

Manulife Vietnam’s new 2021 investment-linked product ‘The Gift for Your Future’ is designed to help customers close the retirement gap by investing in professionally managed funds, while at the same time providing peace of mind through insurance protection.

The new product provides customers with a unique offering tailored to their retirement needs, including flexible investment through three Lifestyle Funds 2035, 2040 and 2045. In a market first, customers are provided with target-date fund options that match their retirement period or financial goals.

In addition, it delivers comprehensive protection with innovative supplementary riders covering customers and their family for medical, critical illnesses, and accidental protection needs. Customers also benefit from the product which offers a long-term growth boost through an attractive regular bonus every three years after the third year, along with a special bonus at end of policy year 10, 15 and 20.

The company plans to soon launch Retirement Planning Calculator, a free and easy to use online tool to help consumers estimate their financial needs for retirement by utilising their unique circumstances and investment goals.

“Retirement planning has never been more important than it is now,” said Sang Lee, CEO of Manulife Vietnam. “More and more consumers are looking for flexible and holistic solutions in order to build a sufficient retirement fund before age catches up with them.” — VNS