2009 News Releases

Kuala Lumpur - Manulife Malaysia is helping customers earn more on their savings  with PremierSaver, a limited payment endowment plan specially designed to provide potentially higher returns to customers along with providing insurance protection.

“With the current economic environment, we have seen a change in customers’ financial planning focus. Malaysians are now more selective when purchasing insurance plans. They want plans that offer better value for their money compared to other financial planning instruments. They are also looking for products with shorter premium payment terms to better manage their financial resources.  Given this scenario, PremierSaver offers these customers an ideal solution,” said Mr Kevin McWhinney, Chief Executive Officer, Manulife Insurance Berhad.

PremierSaver provides a stream of income at the end of each policy year   through Guaranteed Cash Payments (GCP) and non guaranteed Cash Dividends (CD). The GCP rate starts at 3% of Face Amount per annum from year 1 to year 5, and increases to 4% of Face Amount by year 11.  The CD rate is currently estimated at 2% of Face Amount per annum, subject to the performance of the participating fund.

The full premium payment term for PremierSaver is 10 years. However, customers can choose a shorter premium payment term of 5 years by selecting the “Fully Paid-Up Option.” 

“Malaysians have a very strong saving culture although the most common savings vehicle is a bank fixed deposit account where the current interest rate is at a low 2%. PremierSaver, it is an attractive alternative savings vehicle for customers to build their wealth,“ continued Mr McWhinney.

Other features of PremierSaver include maturity benefit of at least 110% of the initial Face Amount and coverage against Death and Total Permanent Disability.

PremierSaver is available through Manulife’s agency distribution channel and Financial Advisor partners.

About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 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$437 billion (US$407 billion) as at September 30, 2009.

Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.

About Manulife Malaysia
Manulife Insurance Berhad, a wholly owned subsidiary of Manulife Holdings Berhad, is a member of Canada-based Manulife Financial Corporation. Manulife Insurance Berhad currently serves the needs of more than 270,000 policyholders. Through its subsidiary companies, the Manulife Group offers an innovative range of financial protection and wealth management products and services to meet different customer needs. Manulife Holdings Berhad has been listed on the Main Board of Bursa Malaysia since 1984. As at September 30, 2009, its assets under management were over RM3.0 billion.

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