2010 News Releases

Tokyo- Manulife Life Insurance Company (hereinafter referred to as “Manulife Japan”; President & CEO: Craig Bromley; Head Office: Chofu City, Tokyo) will commence sales of a non-par whole life insurance product named “Kodawari Shushin (Low CSV-type)” nationwide through the Bank of Tokyo-Mitsubishi UFJ (hereinafter referred to as “BTMU”; President : Katsunori Nagayasu) starting May 6, 2010.

With the launch of “Kodawari Shushin (Low CSV-type), the lineup of Manulife Japan insurance products offered by BTMU now consists of five products, two investment-type annuity products, one lifetime care insurance product, one multi-currency fixed annuity product and one regular-premium whole life insurance product. These products enable BTMU to address a variety of customer needs, including accumulating funds, withdrawing funds, and bequeathing assets in a more flexible and reliable fashion.

The product features of Kodawari Shushin include whole life death protection, low premium rates, a wide range of options for the premium payment period, and a feature which helps build assets for the future. The name Kodawari Shushin (meaning “whole life insurance with every ‘i’ dotted and every ‘t’ crossed”) was chosen because it represents Manulife’s uncompromising commitment to providing a product which satisfies customers’ needs for steadily building assets for the future while at the same time allowing customers to be completely prepared in the event of the death of a loved one.

In addition, Kodawari Shushin also offers special discount premium rates for nonsmoking customers, reflecting a growing trend in the number of health–conscious consumers. 

Main Product Features of “Kodawari Shushin”

Feature 1: Comparatively lower premium rates

·   The premium burden on customers is reduced by keeping the cash surrender value payable during the premium payment period low.¹

·   Special discount premium rates are available for non-smoking customers.^[2]

Feature 2: Whole life death protection

·   The insurance period covers the whole life of the insured, enabling policyholders to leave assets to their family.

·   By adding a term rider, increased protection is available for a certain period with a favorable premium rate.

Feature 3: In many cases the cash surrender value will increase.³

·   Whole life insurance provides a feature for building wealth.

·   Customers may plan to use the cash surrender value as part of their funds for the future.⁴ 

Manulife Japan is committed to providing services which meet real customer needs by leveraging the knowhow, expertise and experience of Manulife Financial group companies both overseas and in Japan.

About Manulife

Manulife Financial is a leading Canadian-based financial services group serving millions of customers in 22 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners.  Funds under management by Manulife Financial and its subsidiaries were Cdn$439.6 billion (US$420.0 billion) as of December 31, 2009.

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

Media Contact:

Saeko Yoshioka
Communications Department
Manulife Life Insurance Company
Tel: 042-442-7180

¹The cash surrender value applicable during the premium payment period is obtained by multiplying an amount calculated based on the period over which the premium is paid by the low cash surrender value ratio (70%).

2 Special discount premium rates for nonsmoking customers are applicable for those insured who have not smoked for at least one year prior to policy application.

3 Depending on policy conditions, including issue age, gender, and premium payment status of each policyholder, there is the possibility that the cash surrender value may not exceed the aggregate amount of premiums paid.

4  Coverage ends following policy surrender.