  |    |
        |
 |
 | ||
| |||
 |  | |
| ||
|  | |
| ||
|  | |
| ||
| ||
|  | |
| ||
 |  | |
| · | News Releases |
| · | Multimedia Centre |
| · | Virtual Press Kits |
| · | Fact Sheets |
| · | FAQ |
| · | Contact the Newsroom |
| ||
|  | |
| ||
|  | |
| ||
This release was distributed to members of the Financial Press Club and other press in Japan, in Japanese only. The following translation is provided for information only. Manulife Life Insurance Company Issues 100,000th Universal Life-Type Policy Japan - Manulife Life Insurance Company (Head Office: Tokyo-to, Chofu-shi, President & CEO: Trevor Matthews) (“the Company”) announces that cumulative new sales of its flagship universal life-type insurance products have reached the 100,000 mark. Universal life-type insurance products feature clear separation of savings and coverage components, the ability to respond both flexibly and freely to diverse, ever-changing individual and family coverage needs, and the ability to adjust premium payments to meet client needs. Universal life-type insurance has long enjoyed popularity in Western countries and represents more than 50% of new individual policy sales in many markets. It meets consumers’ high demands for cost effective and flexible insurance coverage. These features have allowed universal life-type insurance to become a key product in the industry. Since launching “ManuFlex” in October 2001, Manulife has continued to upgrade product features and provide new features that are unique to universal life-type insurance. In 2002, “ManuFlex” feature-enhanced versions “Power Up Version” and “Medical & Wealth” were launched, as were “Key Person Plan” (KPP) and “Executive Plus Plan” (EPP). The latter two products are designed to meet the unique coverage needs for businesses and business owners. On top of this, the Company launched a universal life-type medical insurance “ManuMed” this July, even further enhancing Manulife’s lineup of universal life-type insurance products. Thus, while remaining a relative newcomer to the Japanese life insurance market, Manulife has sold more than 100,000 universal life-type insurance policies. This demonstrates that the public has embraced the Company’s strategy of developing and marketing innovative products. The memorable 100,000th was a ManuFlex policy closed for Mr. Tario Saito (age 56, construction company owner) from Yokohama City, Kanagawa Pref. On the occasion of the sale of the 100,000th universal life-type insurance policy, Manulife President & CEO, Trevor Matthews comments as follows: “One of Manulife Japan’s strengths is our universal life-type product development capability based on our vast experience in different markets around the world. During the past two years we have launched “ManuFlex,” regularly enhanced the product, and last month introduced the very successful “ManuMed” universal life-type medical insurance product. I believe universal life-type insurance products will come to dominate the individual policy market here in Japan just like they have in other countries and I am confident that Manulife Japan will continue to be a leader in this exciting field.” Manulife Japan, a member company of the Manulife Financial Group headquartered in Canada, holds a top-class "AA+" credit rating from one of the world's most prestigious credit rating agencies, Standard and Poor's Co. (as of July 2003). Manulife Financial is a leading Canadian-based financial services group operating in 15 countries and territories worldwide. Through its extensive network of employees, agents and distribution partners, Manulife Financial offers clients a diverse range of financial protection products and wealth management services. Funds under management by Manulife Financial were Cdn$144.3 billion (approx. 12,763 billion yen) as at June 30, 2003. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '0945' on the SEHK. For further inquiries, please contact: Minoru Shimizu Manulife Life Insurance Company TEL 0424-42-7076 |
|
