2010 News Releases

Singapore- Manulife Singapore is entering into a new phase, with financial products for High Net Worth Individuals (HNWI). Enter ‘Heritage’ – a US currency denominated Universal Life policy that is designed as an intelligent asset management, asset diversification and wealth protection strategy.

Heritage is a life insurance contract that allows HNWI to consolidate their wealth by protecting the real value of their asset portfolio upon demise. A cornerstone of estate planning, Heritage helps to preserve their estate while providing them with a financial solution to enhance the legacy that they plan to leave for their beneficiaries.

“A first of its kind to be underwritten in Asia for Manulife, Heritage is tailored exclusively for the HNWI who would normally have a minimum of US$5 million in assets and wish to have the security of wealth preservation, legacy enhancement and timely liquidity for wealth distribution,” said Annette King, President and Chief Executive Officer, Manulife Singapore.

“With individual wealth continuing to grow, we feel that this is the perfect opportunity to introduce Heritage, an ideal product to further enhance Manulife’s corporate profile, showcasing our ability to extend our expertise into other areas of the market,” says Ms. King. “We are confident that this product initiative will build upon our existing strengths and expand our footprint in Singapore.”

Heritage is a financial solution that has distinctive features including flexible premium payments, Cash Value Enhancement option for clients who wish to use the product as collateral for a loan, two Death Benefit options and a no-lapse guarantee for coverage.*

Heritage’s key advantages:

Crediting Rates

The current crediting rate is at 4.8 percent per annum. With a minimum guaranteed interest crediting rate of 3 percent per annum, this interest rate is credited monthly to the Policy Value.

Quit Smoking Incentive (QSI)

This feature unique to policies underwritten in Singapore promotes a healthier lifestyle.   QSI provides smokers who are trying to stop smoking, with Standard Non-Smoker policy charges for the first three years. With satisfactory evidence that the policyholder has quit smoking for at least 12 consecutive months, the client’s risk class and policy charges will be permanently changed to those of a standard non-smoker.

 Age 100 Advantage

Heritage is one of the rare financial products that continue insurance benefits beyond the centenarian mark and these special clients will incur no further cost of insurance or face amount charges. Heritage will be distributed by selected International Brokers, Private Banks, Retail Banks and Manulife Financial Planners.

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$446 billion (US$440 billion) as at March 31, 2010.

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.

* Guarantees that death benefit will not lapse even if the Net Surrender Value falls to zero or below as long as the Death Benefit Protection test continues to be met and Policy Debt does not exceed Policy Value.