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2008 News Releases

For Immediate Release

August 15, 2008

“Kaigo Oen dan”, a New Investment–Type Lifetime Care Annuity Insurance Product, to be Launched Through Resona Bank

Tokyo - As part of its strategic initiative for expanding distribution channels via partner financial institutions to meet the increasing needs for nursing care, Manulife Life Insurance Company (hereinafter “Manulife Japan”; President & CEO: Craig Bromley; Head office: Chofu-shi, Tokyo), has developed an investment-type lifetime care annuity insurance product exclusively for the bancassurance market. This new product, “Kaigo Oen dan”, is equipped with asset-formation functions based on the Company’s variable annuity products, and will be sold through the head office and branch offices of Resona Bank, Ltd. (President & CEO: Hiroyuki Mizuta) from August 18, 2008.

“Kaigo Oen dan” has been developed to meet the needs for life savings, health care and nursing care common to the baby boomer and earlier generations which make up the majority of over-the-counter bank customers. It also satisfies customers’ needs for a product that is easy-to-understand, and the needs of partner financial institutions for a product that can be easily handled. This new product is full of innovative features, designed to be “readily-purchasable” with “clearly defined payment criteria for benefits” and able to be “easily understood” by customers.

Product features of “Kaigo Oen dan”, the investment-type lifetime care annuity insurance product developed exclusively for the bancassurance market

1. “Ease of purchase” and “Clearly defined payment criteria for benefits”

  • The self disclosure requirement for insurance application is simple (only the insured/policyholder‘s occupation is required).
  • When the insured is certified as a “Care Required Status Level 1” or above for the first time according to the public nursing care insurance system, the nursing care benefit will be paid to the insured or designated beneficiary.

2. Opportunity to increase funds and receive investment gains

  • Funds will be managed in a Special Account with a carefully selected international diversified portfolio (50% of the underlying funds will be allocated to equities).
  • Policyholders may withdraw a portion of any accumulated funds that exceed the Basic Benefit, without reducing the original Basic Benefit itself, once every policy year after the first anniversary (special handling for partial surrender).

3. Minimum Guarantee

  • Even if the investment performance is unfavorable, at a minimum either the nursing care or death benefits equivalent to 100% of the Basic Benefit will be guaranteed.

Going forward, Manulife Japan will continue providing advanced, innovative products and services to even more customers. Capitalizing on the full deregulation of insurance product sales via banks, the Company will expand distribution channels via partner financial institutions. The Company will also develop a wide range of new products and services which meet real customer needs by making effective use of Manulife Financial’s expertise worldwide combined with Manulife Japan’s extensive experience within the Japanese market.

About Manulife
Manulife Life Insurance Company (“Manulife Japan”), a member company of the Manulife Financial group, holds the highest level "AAA" financial strength rating from Standard & Poor’s, one of the world’s most reliable credit rating agencies (as of the end of July 2008).

Manulife Financial is one of two publicly traded life insurance companies in the world whose rated life insurance subsidiaries hold Standard & Poor’s Rating Services’ highest “AAA” rating.

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. Manulife Japan can be found on the Internet at www.manulife.co.jp.

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For information related to this press release please contact:
Manulife Life Insurance Company
Saeko Yoshioka / Minoru Shimizu
Communications Department
Tel: 042-442-7180