A new investment-type lifetime care annuity insurance product, to be Launched Through Shinsei Bank,Ltd. ( May 12, 2008 )











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FOR IMMEDIATE RELEASE
May 12, 2008
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A new investment-type lifetime care annuity insurance product, to be Launched Through Shinsei Bank, Ltd.

Tokyo - As part of this strategic initiative for expanding distribution channels via partner financial institutions, in order to meet the increasing needs for nursing care, Manulife Life Insurance Company (hereinafter “Manulife Japan”; President & CEO: Craig Bromley), has developed an investment-type lifetime care annuity insurance product exclusively for the bancassurance market. This new product, “Shinsei Power Kaigo-Nenkin”, is equipped with asset-formation functions based on the Company’s variable annuity products, and will be sold through the head office and branch offices of Shinsei Bank, Ltd. (President & CEO: Thierry Porte) from May 12, 2008.

“Shinsei Power Kaigo-Nenkin” has been developed not only to meet the needs for life savings, health care and nursing care common to the baby boomer and above generations which make up the majority of over-the-counter bank customers, but also to satisfy customers’ needs for a product that is easy-to-understand, as well as the needs of partner financial institutions for a product that can be easily handled. This new product is full of innovative features, designed to be “readily-purchasable” with “clearly defined payment criteria for benefits” and able to be “easily understood” by customers.

Product features of “Shinsei Power Kaigo-Nenkin”, the investment-type lifetime care annuity insurance product developed exclusively for the bancassurance market

1. “Ease of purchase” and “Clearly defined payment criteria for benefits”

The self disclosure requirement for insurance application is simple (only the insured/policyholder‘s occupation is required).
When the insured is certified as a “Care Required Status Level 1” or above for the first time according to the public nursing care insurance system, the nursing care benefit will be paid to the insured or designated beneficiary.

2. Opportunity to increase funds and receive investment gains

Funds will be managed in a Special Account with a carefully selected international diversified portfolio (50% of the underlying funds will be allocated to equities).
Policyholders may withdraw a portion of any accumulated funds that exceed the Basic Benefit, without reducing the original Basic Benefit itself, once every policy year after the first anniversary (special handling for partial surrender).

3. Minimum Guarantee

Even if the investment performance is unfavorable, either the nursing care or death benefits equivalent to 100% of the Basic Benefit will be guaranteed at a minimum.

Building on its outstanding success in the variable annuity market, where Manulife Japan continues to offer advanced variable annuity products through a large number of partner financial institutions, Manulife Japan is giving strong focus to the bancassurance market, embracing full deregulation as an excellent opportunity for customers to benefit from a wider range of options and to enjoy greater convenience.

Capitalizing on the full deregulation of insurance product sales via banks, Manulife Japan will continue to offer advanced, innovative products and services to more customers, by expanding distribution channels via partner financial institutions, developing and introducing a wide range of new products and services that meet real customer needs, and by effective use of Manulife Financial’s expertise worldwide combined with Manulife Japan’s extensive experience within the Japanese market.

About Manulife
Manulife Life Insurance Company (“Manulife Japan”), a member company of the Manulife Financial group, holds the highest level "AAA" financial strength rating from Standard & Poor’s, one of the world’s most reliable credit rating agencies (as of the end of April 2008).

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$400 billion (US$389 billion) as at March 31, 2008.

Manulife Financial is one of two publicly traded life insurance companies in the world whose rated life insurance subsidiaries hold Standard & Poor’s Rating Services’ highest “AAA” rating.

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. Manulife Japan can be found on the Internet at www.manulife.co.jp

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For information related to this press release, please contact:

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