2010 News Releases

Tokyo- Manulife Life Insurance Company (hereinafter referred to as “Manulife Japan”; President & CEO: Craig Bromley; Head Office: Chofu City, Tokyo) will begin selling nationwide a new non-par whole life insurance product called “Kodawari Shushin (Low CSV-type)”, through its Plan Right Advisor (PA: Manulife Japan’s own company sales representatives) sales network and MGA[1] sales channel from February 1, 2010.

“Kodawari Shushin” is designed with features, including whole life death protection, low premium rates, a wide range of options for the premium payment period, and a feature which helps build assets for the future. The name “Kodawari Shushin” (meaning “whole life insurance with every ‘i’ dotted and every ‘t’ crossed”) was chosen because it represents our uncompromising commitment to creating a product which satisfies customers’ needs to steadily build assets for the future, while at the same time being completely prepared in the event of the death of a loved one.

In addition to these features, this new product also offers special discount premium rates for nonsmoking customers, reflecting a growing trend in the number of health–conscious consumers. 

Main Product Features of “Kodawari Shushin”

Feature 1: Whole life death protection

• The insurance period covers the whole life of the insured, which enables policyholders to leave their assets to their family.

Feature 2: Comparatively lower premium rates

• The premium burden on customers is reduced by holding down the cash surrender value payable during the premium payment period.[2]
• Special discount premium rates are available for non-smoking customers.[3]

Feature 3: A wide range of options are available for the premium payment method and for the premium payment period

• Customers may choose from a wide range of options the premium payment method and the premium payment period that best meet their needs.
• When customers choose to maintain the existing policy even after expiration of the selected premium payment period (low cash surrender value period), in many cases the cash surrender value will exceed the aggregate amount of premiums paid[4], enabling the use of the cash surrender value as part of funds for retirement[5]. 

Manulife Japan is committed to developing and offering innovative products and quality services to as many customers as possible, with the aim of serving real customer needs by leveraging the knowhow, expertise and experience accumulated among Manulife Financial group companies in both overseas markets and in the Japanese market.

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$436.5 billion (US$407.1 billion) as of 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. Manulife Japan can be found on the Internet at www.manulife.co.jp. 

Media Contact:
Saeko Yoshioka
Communications Department
Manulife Life Insurance Company
Tel: 042-442-7180

[1]“MGA” is short for Managing General Agents, which refers to large-scale, independent agents common in the North American market. The MGA Development Department was established in February 2007 to promote a new type of agent channel focusing on the high net worth market segment, including business entrepreneurs, business owners and other persons of means.

[2]The cash surrender value applicable during the premium payment period is obtained by multiplying an amount calculated based on the period over which the premium is paid by the low cash surrender value ratio (70%).

[3]Special discount premium rates for nonsmoking customers are applicable for those insured who have not smoked within the previous year (a predefined smoking test will be conducted in addition to applicants’ self-disclosure).

[4]Depending on policy conditions, including issue age, gender, and premium payment status of each policyholder, there is the possibility that the cash surrender value may not exceed the aggregate amount of premiums paid. Please refer to the policy illustration and other policy documents for details regarding the cash surrender value.

[5]Coverage ends following policy surrender.