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Manulife USA Increases Coverage Of Universal Life Insurance Marketplace Enhancements to UL line extend affordable protection to more ages and markets Boston - Addressing the needs of an ever-changing marketplace, The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) continued to expand the reach of their UL product line by introducing pricing enhancements to Manulife UL-LC1. This enhancement followed on the heels of Manulife USA’s July launch of Manulife UL-G2, a universal life product that offers lifetime guarantees3. Now, whether the focus is on affordability or guarantees, the two products offer clients and advisors more choices to meet their universal life insurance needs. With price enhancements of up to 19%, Manulife UL-LC now provides even more affordable death benefit protection at more ages. The enhanced product offers a solution for clients in a wide range of age groups whose primary need is an affordable life insurance product, giving them more options in universal coverage. In addition, the recently introduced Manulife UL-G complements Manulife USA’s universal life offering. Designed to meet market demand for strong guarantees, Manulife UL-G provides guaranteed coverage for the life of the insured, even if the policy’s net cash surrender value falls to zero or below. Its lower premiums make Manulife UL-G one of the most affordable guaranteed coverage for life premiums in the industry, regardless of how the client wants to fund the policy. “As clients continue to look to universal life products to meet their insurance and estate planning needs, these enhancements make our universal life offering more accessible to a broader portion of the marketplace and provide advisors with more choices to meet this demand,” said Robert A. Cook, President of U.S. Insurance, Manulife USA. About Manulife The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is committed to offering the highest quality annuity, life insurance, pension, college savings, and separately managed account products to its clients. Its family of products has been built around a powerful combination of investment options chosen with the goal of providing attractive risk-adjusted returns and broad diversification across asset classes, investment styles, and asset managers. With its extensive product lines, competitive underwriting, excellent ratings, and quality customer service, Manulife USA is dedicated to providing quality products designed to help create and preserve wealth for its clients. 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 US$106.5 billion (Cdn$144.3 billion) as at June 30, 2003. 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. 1 Manulife UL-LC is a universal life insurance product issued by Manulife USA, a wholly owned subsidiary of Manulife Financial Corporation. All product features may not be available or may vary in some states. 2 Manulife UL-G is issued by Manulife USA. All product features may not be available or may vary by state. Product availability subject to state approval. 3 These guaranteed product features are dependent upon the claims-paying ability of Manulife USA. Media Contact: Heather Randolph Carter U.S. Communications 617-854-4342 heather_carter@manulife.com |
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