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Manulife launches tool to help Canadian advisors pick universal life investment accounts This new tool will help advisors choose universal life investment accounts based on their client’s risk tolerance. A recent survey conducted among advisors by Rogers Media, sponsored by Manulife Financial, found about half of advisors (49 per cent) are comfortable selecting and recommending investments within a universal life insurance policy and 40 per cent of those surveyed are interested in a sales process that would automatically recommend appropriate universal life accounts based on the client’s risk profile. “Advisors have told us that they want help in selecting investment accounts at the time of sale for their client and they also want accounts that are easy to manage once the policy is in effect,” said Paul Lorentz, Manulife Financial’s Vice President Product and Marketing, Individual Insurance. “We sponsored this survey to determine if what we were hearing was the general consensus of advisors … the results confirm it is.” Manulife’s new tool is called UL Simplicity Select. It’s an online tool that helps advisors determine their client’s investment risk profile and then automatically chooses the Simplicity Portfolio Account that corresponds to that risk. “Based on the results of the survey, Manulife’s new UL Simplicity Select is the perfect solution,” said Lorentz. “It’s easy to use and it’s automatic.” Starting from Manulife’s advisor website, advisors simply fill out the risk profile with clients. Then, based on the profile, the tool automatically selects the appropriate Simplicity Portfolio Account for the client. If the client’s profile indicates they’d like a balanced approach to investing, the Simplicity Balanced Portfolio Account is recommended.“We believe this tool will change the way advisors recommend universal life investment accounts,” says Lorentz. UL Simplicity Select is the first tool of its kind in the universal life insurance industry. The tool selects the account that corresponds to the client’s risk profile, then creates a customized report for clients that summarizes the investment recommendation. Advisors can give this report to clients and use it for future discussions. Rogers’ survey also found that 63 per cent of advisors would welcome a detailed account report they could provide their clients. And says Lorentz, “the report can help advisors feel confident they have provided a recommendation that is consistent with their client’s expectations.” UL Simplicity Select became available December 3, 2005 for Manulife’s InnoVision and previously sold UL100 policies. About Manulife Financial Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 19 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$360 billion (US$310 billion) as at September 30, 2005. 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. (methodology for the survey: n=407; +/-4.9% 19/20 fielding was Sept 26-Oct5.) – 30 –
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