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Manulife USA Offers its Venture® Contract Owners Access to Sage College Tuition Rewards™ Program -- Members Earn Tuition Rewards Discounts that Could Reduce Tuition by up to 25%1 -- BOSTON – Continuing to help its variable annuity customers to optimize the benefits of their annuities investments, The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) announced its participation in the Savings And Growth for Education (SAGE) College Tuition Rewards Program, a partnership among over 150 private U.S. colleges and select financial institutions. SAGE enables program members to earn Tuition Rewards for the money they invest in a variety of investments, including Manulife Venture Variable Annuities2. These Tuition Rewards can then be used to reduce tuition for member students at participating private colleges across the country. “Manulife USA is always looking for new opportunities to add value for our annuity customers,” said Jim Boyle, President, U.S. Individual Wealth Management, Manulife USA. “We know that saving for retirement and children’s college educations are two of the primary concerns of most Americans. Through our participation in the SAGE program, Manulife USA is encouraging our Venture Annuity contract owners to begin a conversation with their financial consultants about college savings and to get a head start on the process of preparing for the educational futures of their loved ones.” Manulife’s SAGE Account Holders will accrue rewards based on the amount of their eligible investments and the length of their SAGE membership. Venture Annuity contract owners sign up directly with SAGE and designate a beneficiary for the SAGE Tuition Rewards, often a child or grandchild. When beneficiaries of contract owners apply to member schools, they simply submit a statement of their Tuition Rewards, and member schools will discount their full tuition price by the size of the earned reward—up to $13,800 or one year’s tuition, whichever is less3. Contract owners may enroll in SAGE for free and designate how the Tuition Rewards are to be divided among multiple children, grandchildren, or other relatives. Students are eligible to receive SAGE Tuition Rewards from birth until the start of the 11th grade in high school. Manulife USA is the exclusive variable annuity provider of the SAGE program. “We are pleased that Manulife USA’s Annuities Division is taking the opportunity to engage investors in the issue of saving for college,” said Bill Burrow, Senior Vice President and General Manager, U.S. College Savings, Manulife USA. “Participation in the SAGE Tuition Rewards Program is an excellent complement to our industry-leading multi-managed 529 plan, Manulife College Savings4, as it offers clients an additional avenue toward the realization of their college savings goals.” About Manulife The Manufacturers Life Insurance Company (U.S.A.) (Manulife USA) is committed to offering the highest quality life insurance, pension, and individual wealth management (variable annuities, 529 college savings plans, and separately managed accounts) 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 Source: SAGE Scholars, Inc. 2 Manulife Financial Securities LLC distributes Venture Variable annuities through other broker/dealers appointed by Manulife Financial Securities. 3 Tuition Rewards are limited to undergraduate tuition at participating colleges. Tuition Rewards are remitted solely as a reduction to the participating college’s full tuition bill, granted evenly over four years, and are not awarded in cash. Colleges reserve the right to use the Tuition Reduction as part of or separate from any financial aid packages. 4 Manulife College Savings is a national multi-managed Section 529 education savings plan distributed by Manulife Financial Securities LLC through other broker/dealers appointed by Manulife Financial Securities LLC, managed by T. Rowe Price, and sponsored by the Education Trust of Alaska. Media Contact: Heather Randolph Carter U.S. Communications (617) 854-4342 |
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