Bangkok – Manulife Insurance (Thailand) PLC (Manulife Thailand) announces the launch of ‘Happy Annuity’, an annuity product to enable their customers to save tax before the end of the financial year 2011. Happy Annuity facilitates early retirement by limiting its premium paying period to age 55, whereas the standard for most products in the market is until age 60.
Mr. Alan Ng, President and Chief Executive Officer of Manulife (Thailand) said, "Whilst some people may work up till or beyond age 60, many actually prefer to retire earlier. It is always good to know that you don't have the burden to pay premium after age 55. Happy Annuity requires no underwriting and offers guaranteed income for 15 years. From age 55 onwards, it offers dividends in addition to the annuity benefit at 16% of sum assured annually.”
"The initial response to the product has been very encouraging. Customers welcome the product because they realize that people are living longer. Annuity is a great retirement product for them because the longer they live, the more annuity income they receive. I applaud the Government for offering tax incentives so the customer gets tax savings as well. This is a really attractive proposition for customers!" Mr. Ng added.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group operating in 21 countries and territories worldwide. For more than 120 years, clients have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were C$492billion (US$473 billion) as at September 30, 2011. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
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 manulife.com.
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