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Manulife USA launches new Universal Life insurance product Manulife UL-LC Provides More Affordable Death Benefit Protection Boston – Addressing the need for an affordable death benefit solution with the flexibility of additional security, The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) introduced a new product to their universal life portfolio. Manulife UL-LC1 provides a choice for clients whose primary need is an affordable universal life insurance product. Manulife UL-LC is designed to provide affordable lifetime insurance protection. Clients who desire additional security have the option of purchasing an innovative interest-free catch-up Extended No-Lapse Guarantee Rider2, which provides an additional level of premium protection. With its blend of affordability, security, and flexibility, Manulife UL-LC allows clients to tailor their policies to their own specific needs and to make adjustments as their needs change. “With the current volatility in the stock market, we see more clients looking to universal life to meet their insurance needs,” said Robert A. Cook, President of U.S. Insurance, Manulife USA. “Our new universal life product offers advisors more choices to meet this increased demand. By expanding the breadth of our universal life portfolio, we now have a universal life product for almost any client need.” The introduction of Manulife UL-LC is just one of a number of improvements to Manulife USA’s universal life product portfolio for January 2003. Premium reductions on Survivorship UL, cost reductions on the Return of Premium Death Benefit Rider, a new Cash Value Enhancement Rider on Survivorship UL, as well as recent premium reductions on Manulife UL are designed in response to the evolving needs of the market. About Manulife The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is committed to offering the highest quality annuity, life insurance, pension, tax-deferred 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$87.8 billion (Cdn$139.2 billion) as at September 30, 2002. 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 The Manufacturers Life Insurance Company (U.S.A), a stock company, which is a member of the Manulife Financial group of companies, wholly owned subsidiaries of Manulife Financial Corporation. All product features may not be available or may vary in some states. 2 The Extended No-Lapse Guarantee Rider (ENLG) ensures that your policy will not lapse during the extended no-lapse guarantee period selected as long as your cumulative premiums paid are at least equal to the cumulative ENLG premiums. The ENLG period must be selected at policy issue for an additional cost. The ENLG may not be available or may vary in some states. - 30 – Media Contact: Wendy W. Smith U.S. Communications 617-854-4348 wendy_smith@manulife.com |
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