Makati City - In response to growing competitiveness in the insurance market, Manulife Philippines has unveiled its enhanced endowment product called Freedom, designed to provide its clients with guaranteed returns from their hard-earned money, as well as security and peace of mind and the prospect of non-guaranteed dividends on top of the guaranteed returns.
The new Freedom product is now being offered with a choice of endowment periods: 15 years, 20 years, and ‘to age 65’ with variants offering an extended coverage period up to the age of 100. These give clients added flexibility in matching the maturity date of the policies with key life milestones when savings will be needed the most.
The product allows for policyholders to receive their cash benefits in either a lump sum or in smaller, scheduled amounts.
“The money that they get from Freedom can be used in a variety of ways, be it for essentials or for a variety of lifestyle-related expenses,” said Indren Naidoo, President and Chief Executive Officer, Manulife Philippines.
On top of this flexible benefit payment schemes, clients can also choose guaranteed life insurance coverage up to the age of 100. Enhanced Freedom also has more flexible premium paying period options to match one’s budget. Based on the client’s financial capability, the new Freedom product has added on the option of a three-year limited premium paying period. Other limited paying periods include five years and 10 years and there are also full paying periods of 15 years, 20 years or until age 65.
“The three-year payment scheme can give the client a lump sum payout or a regular cash payout equal to 10 per cent of the coverage every two years starting at the end of the fifth year. This regular cash payout option is targeted at clients who need earlier access to some of the proceeds,” explained Mr. Naidoo.
The additional financial flexibility of enhanced Freedom includes guaranteed cash values that can be taken as a loan to use for certain needs and non-guaranteed dividends declared by the company.
To know more about Freedom, contact Manulife at (02) 884-7000 or e-mail email@example.com or your Manulife agent.
About Manulife Philippines
The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the leading life insurance companies in the country. Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. In 2012, we celebrate 125 years of providing clients strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients. We also provide asset management services to institutional customers. Funds under management by Manulife Financial and its subsidiaries were C$514 billion (US$504 billion) as at June 30, 2012. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
(02) 884-5433 local 5416