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Manulife USA introduces Enhanced Variable Universal Life Cash Accumulation product —Venture VUL Accumulator offers potential earning power for long-term financial goals— Boston – Focusing on helping clients reach long-term financial objectives, The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) has redesigned its Venture VUL AccumulatorSM product to improve its wealth accumulation potential. While life insurance protection is an important benefit of Manulife USA’s Venture VUL Accumulator, the product’s new design works together with its tax advantages and the solid investment options available with the policy to enhance the client’s long-term financial growth potential. “We are very excited about the redesign of this product,” said Robert A. Cook, President of Manulife USA’s U.S. Insurance Division. “Every planner and advisor owes it to their clients to take a new look at our Venture VUL Accumulator product.” In addition to helping clients increase their potential wealth at retirement, Venture VUL Accumulator can be used by business owners who want to attract and retain key employees or by clients who want to grow managed assets. Access to Tax Advantages As life insurance, any growth in the policy is tax-deferred meaning the cash accumulated is not subject to reduction by capital gains or other income tax costs. With Venture VUL Accumulator, access to the potential policy cash value with tax-preferred loans and withdrawals is available if required.1 In addition, the entire death benefit from the Venture VUL Accumulator policy passes to the beneficiary without any income taxes. A Solid Investment Strategy Driven by a disciplined selection and review process, Manulife USA strives to consistently provide clients with access to elite offerings in a broad array of asset classes and investment styles. As a result, Manulife USA also monitors and adjusts its investment platform on an ongoing basis – ‘managing the managers’. Clients can design a portfolio that balances their specific financial goals with their risk tolerance by choosing from a diverse range of 60 investment options including stock, bond, balanced and international portfolios with 25 of the nation’s leading asset managers. Investment options are managed by world-class investment managers, such as AIM, Dreyfus, Fidelity, T. Rowe Price, Janus and others across diverse asset classes and investment styles. For clients uncomfortable or uncertain about choosing among Manulife’s wide selection of investment options, we offer five Manulife Lifestyle Portfolios (“funds of funds”), covering every risk profile from aggressive to conservative. For more cost-effective and easier management of a client’s portfolio, Venture VUL Accumulator offers dollar cost averaging, which lets clients manage risk by spreading contributions over time, and an asset allocation balancer feature that helps keep investment options automatically in line with a client’s investment strategy.2 Venture VUL Accumulator also offers 12 tax-free transfers among investment choices per year (additional transfers are charged a fee). In addition, clients have access to their policy information by either logging on to ServiceNet, Manulife USA’s Insurance policy service Web site at www.manulife.com/usinsurance or calling the full service telephone hotline at 1-800-VARILINE. Those interested in finding out more about Venture VUL Accumulator can contact this toll free number to obtain a current prospectus that contains more details and all charges, expenses, risk factors and limitations. Please read the prospectus carefully before purchasing, as this product does have fees and expenses associated with it. “Venture VUL Accumulator offers the competitive advantage of being life insurance with earning power. Advisors looking for ways to supplement a clients overall financial plan can use this powerful tool to help create a plan that meets their clients’ specific needs,” added Mr. Cook. About Manulife The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is committed to offering the highest quality annuity, life insurance, pension and tax-deferred college savings 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. Venture VUL Accumulator is a variable universal life insurance product issued by Manulife USA and distributed by Manulife Financial Securities LLC through other broker/dealers appointed by Manulife Financial Securities. Manulife USA and Manulife Financial Securities are wholly owned subsidiaries of Manulife Financial Corporation. Product may not be available in all states. 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$139.8 billion as at June 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. -30- 1Depending on performance of underlying investment options the cash value available for loans and withdrawals may be worth more or less then the original amount invested. Loans and withdrawals have the effect of reducing the death benefit and the cash surrender value and may cause the policy to lapse. Loans and withdrawals from a life insurance policy that is classified as a modified endowment contract may be subject to tax at the time of withdrawal. A federal tax may apply to loans and withdrawals taken prior to age 59 ½. 2 Dollar cost averaging (DCA) does not assume a profit or prevent loss in declining markets. Since DCA involves continuous investment in securities regardless of fluctuating price levels, you should consider your ability to continue purchases through periods of low price levels. For further information please contact: Wendy W. Smith U.S. Communications 617-854-4348 wendy_smith@manulife.com |
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