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Manulife USA Enhances Term Life Insurance Products, Offering Big Reductions at Big Face Amounts Boston - Continuing to provide customers and producers with high-quality life insurance products, The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) has introduced enhancements to its term life product line. These enhancements—which include price reductions of up to 20% on Manulife’s most popular term products, Manulife 10 and Manulife 201 —complement Manulife USA’s large policy face amounts, skilled underwriting, and other value-added features to result in a term life insurance product line that is even more competitive in the marketplace. With these enhancements, Manulife remains focused on offering competitively priced policies on large face amounts of over $1,000,000. Underwriting at this level is achieved through Manulife’s extensive experience in jumbo case management, in-depth expertise, and large automatic reinsurance pools. In addition, Manulife term products offer conversion options up to age 75, allowing policyholders to convert to any Manulife permanent product available in our broad, competitive portfolio of whole life, universal life, and variable universal life insurance, including survivorship policies2. “With 100 years of experience as an insurance provider in the U.S., we have the knowledge and the financial strength to provide clients with the robust, but affordable, life insurance products they need,” said Robert A. Cook, President of U.S. Insurance, Manulife USA. “At Manulife, we continually evaluate our products from every angle, including underwriting, pricing, and flexibility. These enhancements to our term product line reflect this strategy, resulting in products that are among the most attractive and competitive in the market.” About Manulife 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$96.4 billion (Cdn$141.6 billion) as at March 31, 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 10 and Manulife 20 are term life insurance products 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. 2Term conversion period is the earlier of the end of level term period or age 75. -30- Media Contact: Wendy W. Smith U.S. Communications 617-854-4348 wendy_smith@manulife.com |
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