2004 News Releases

Boston - Helping financial advisors to provide clients with innovative ways to meet estate planning challenges, The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is offering a new Qualified Plan Distribution Sales Tool Kit and MLI Solutions^SM module. The kit and software describe how distributions from qualified plans and IRAs can be used to fund life insurance policies, thereby potentially avoiding the “double tax” bite of federal estate and income tax that can result when these required distributions are allowed to accumulate inside an estate.

The sales strategy, client guide, and other resources in this kit describe how retirement distributions can be an ideal life insurance funding source for people who may not need to use their entire distributions for retirement income and want to create a legacy for the next generation. By using distributions to fund a life insurance policy, clients can fund a wealth transfer plan inside an irrevocable life insurance trust, which, if properly set up and administered, is outside the taxable estate and can receive life insurance proceeds free of estate and income taxes. Through this arrangement, the qualified plan assets are reduced, as is the size of the client’s taxable estate.

“People are living longer and, consequently, working longer than ever before. As a result, they are increasingly apt to continue to work during retirement and may not need to access all of the funds in their qualified plans to supplement their retirement income,” said Robert A. Cook, President of Insurance, Manulife USA. “This sales tool kit gives advisors access to the expertise of Manulife USA’s Advanced Markets team, uncovering the hidden dangers associated with allowing assets from qualified plan distributions to accumulate in a client’s estate and opening up new avenues for effective estate planning.”

MLI Solutions offers the flexibility that advisors need to develop the customized and comprehensive solutions that their clients demand. MLI Solutions has estate and retirement planning modules, as well as business planning modules. Each module has its own sales package, complete with marketing tools, PowerPoint presentations, and technical resources needed to close the case.

With Manulife USA’s sales tool kit and MLI Solutions software module comes comprehensive support from one of the industry’s best Advanced Markets groups. To help producers promote and sell this concept, the sales tool kit, including sales strategies, concept profiles, client profiles, case studies, and a CD-ROM, is available by contacting Advanced Markets at (888) 266-7498, option 3 or via email at jroper@manulifeusa.com.

About Manulife
Manulife USA is committed to offering the highest quality life insurance, pension, and individual wealth management products to its clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive risk-adjusted returns and broad diversification across asset classes, investment styles, and asset managers. With its extensive product lines, competitive underwriting, excellent ratings, and quality customer service, Manulife USA is dedicated to providing quality products designed to help create and preserve wealth for its clients.

Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were US$111.7 billion (Cdn$150.8 billion) as at September 30, 2003.

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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Media Contact:
Heather Randolph
U.S. Communications
(617) 854-4342