2004 News Releases

Financial planning package addresses protection, savings and investment needs

Hong Kong— Manulife (International) Limited (MIL) has launched Executive Select for Hong Kong’s middle-income group in response to market demand for prudent financial planning following a year of strong economic growth and wealth recovery. The innovative package of financial solutions is targeted at consumers with middle to high monthly income, and is designed to help such customers address their financial needs in relation to protection, savings as well as investment.

“There is heightened awareness of the need for financial planning and wealth management following the property and stock market downturns of the recent past,” said Diana Kwan, Assistant Vice President, Customer Relationship Management, MIL. “Consumers now want to protect their gains and newly-acquired wealth arising from Hong Kong’s robust economic performance.”

“In addition, fresh challenges have surfaced because of Hong Kong’s ageing population and gradual budget cuts in social-security benefits. As a result, middle-income groups are realizing that their financial needs are becoming more extensive and require more cautious planning,” said Ms Kwan. According to the Hong Kong Population Project (2002-2031) issued by the Hong Kong Census Department, Hong Kong’s adult population at age 50 or above will grow from 24 per cent in 2004 to 42 per cent in year 2024. With such a rapidly aging population, the current social security benefits development will face severe challenges in the coming years as the Government proceeds with its cost-cutting program.

Executive Select offers a range of quality Manulife products and services for an all-round solution that is designed to provide peace of mind and the right kind of quality of life for aspiring individuals.

Ms Kwan added, “Customized financial portfolios that can balance risks and returns are fast becoming a market trend. The recent low interest rate environment has also encouraged middle-income people in Hong Kong to diversify their income surplus away from traditional saving deposits. In light of this, Manulife is taking the lead by focusing on this sector and by offering its pioneering Executive Select package.”

“For each of our customers, our financial advisors are well-equipped with the financial-planning knowledge and tools to be able to give professional advice. In general, people are not fully aware of their genuine financial needs. ‘Gaps in protection and retirement needs’ are always found after we have carried out proper financial planning for them.”

With Executive Select as a new financial platform, Manulife now offers customers a range of insurance plans that include life protection critical illness, hospital and health screening plans, guaranteed retirement income plans, and general insurance alongside a variety of investment vehicles.

The Executive Select package also emphasizes on after-sale services, thus privileged services are offered to its valued customers:

• Personalised privilege service providing financial advice and after-sales services through a dedicated personal financial advisor
• Regular updates on market trends and customers’ personal needs
• An exclusive dedicated service hotline (2108-1128)
• Exclusive Manulife Customer Events: VIP invitations to Manulife functions such as investment and financial-planning seminars and exclusive opportunities to share the corporate vision of Manulife’s senior executive

From now till December 31, 2004, extra bonuses will be given to Executive Select customers whose annualised premiums reach HK$25,000 or above, or whose total Manulife Investment Solutions’ subscriptions exceed US$16,800.

About Manulife (International) Limited
Manulife (International) Limited is a member of the Manulife Financial group of companies. Manulife Financial is a leading Canadian-based financial-services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial-protection products and wealth-management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$346 billion (approximately HK$2,138 billion) as at September 30, 2004.

Manulife Financial Corporation trades as “MFC” on the TSX, NYSE and PSE, and under “0945” on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

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For more information, please contact:
Helena Lee / Jeanie Ho
Manulife (International) Limited
Tel: 2202 1050 / 2510 3191
Fax: 2234 6875
Email: helena_lee@manulife.com
jeanie_ho@manulife.com